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US ($) to Play 'Very Major Role' In Helping Europe: Geithner
CNBC ^

Posted on 10/15/2011 10:20:22 AM PDT by quesney

The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially, Treasury Secretary Timothy Geithner told CNBC Friday.

Getty Images U.S. Treasury Secretary Timothy Geithner With global leaders preparing for next month's Group of 20 nations (G20) summit in Cannes, France, the International Monetary Fund — of which the U.S. is the greatest contributor — is being relied on to help underwrite whatever efforts are needed to backstop toxic European sovereign debt .

Geithner said the International Monetary Fund (IMF) has "very substantial" resources to fund a device that could look like the Troubled Asset Relief Program, which helped navigate American financial institutions through the crisis in 2008 and 2009.

"Through the IMF, of course, we're already playing a very major role," he said in a live interview in Paris. "We're happy to see the IMF continue to play that role in support of a more forceful, comprehensive strategy where Europe's own resources—very ample resources—are deployed on a much more substantial scale."

The comments give a lift to U.S. stocks, which have been highly volatile in the past several months as proposed solutions have come and gone for the euro crisis.

(Excerpt) Read more at cnbc.com ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: bailout; europe; europeanunion; geithner; imf; tarp; timothygeithner
Where do we get the money for all these hair-brained schemes, and is the stock market built on anything else besides government bailouts these days?
1 posted on 10/15/2011 10:20:25 AM PDT by quesney
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To: quesney

Foreigners reaching for my wallet?Not a good idea.


2 posted on 10/15/2011 10:22:46 AM PDT by Farmer Dean (stop worrying about what they want to do to you,start thinking about what you want to do to them)
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To: quesney
Where do we get the money for all these hair-brained schemes,...

The printing press tax on those who produce.

3 posted on 10/15/2011 10:23:12 AM PDT by EGPWS (Trust in God, question everyone else)
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To: quesney

Is Geithner completely insane or just plain evil?


4 posted on 10/15/2011 10:25:03 AM PDT by Wisconsinlady (DEFUND NPR, PBS, THE TSA AND THE U.N.)
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To: quesney
The U.S. plans on being an active partner as efforts intensify to get Europe get back on its feet financially,...

We will never be able to pay back our debt to them for saving us during WWII will we.

5 posted on 10/15/2011 10:25:23 AM PDT by EGPWS (Trust in God, question everyone else)
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To: Wisconsinlady
Is Geithner completely insane or just plain evil?

Can't one be insanely evil?

6 posted on 10/15/2011 10:26:57 AM PDT by EGPWS (Trust in God, question everyone else)
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To: quesney
“If the American people ever allow private banks to control the issue of their money, first by inflation and then by deflation, the banks and corporations that will grow up around them (around the banks), will deprive the people of their property until their children will wake up homeless on the continent their fathers conquered.” —Thomas Jefferson

The man was a prophet...

7 posted on 10/15/2011 10:27:54 AM PDT by Errant
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To: EGPWS

They will always be there when they need us.


8 posted on 10/15/2011 10:28:20 AM PDT by Don Carlos (01/20/2009 - Begin the Obama Interregnum)
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To: quesney

Not one tax payer dollar for Europe! We sent a bundle of the Tarp money and it failed. Enough is enough. Stop Gaithner and his dumb schemes.


9 posted on 10/15/2011 10:29:36 AM PDT by elpadre (AfganistaMr Obama said the goal was to "disrupt, dismantle and defeat al-Qaeda" and its allies.)
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To: quesney

Ask Greenspan. He said just print it.


10 posted on 10/15/2011 10:32:27 AM PDT by F15Eagle (1 John 5:4-5, 4:15, 5:13; John 3:17-18, 6:69, 11:25, 14:6, 20:31; Rom10:8-11; 1 Tim 2:5; Titus 3:4-5)
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To: quesney

There ain’t enough bailout. We have already been robbed to pay for the socialism in Europe.

Screw them, they made their bed and Geithner needs to be fired and put behind bars.


11 posted on 10/15/2011 10:32:54 AM PDT by dforest
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To: quesney

Very major role means the American taxpayers on the hook....again. While they continue to bullsh## the “middleclass” Giethner, an unelected zero czar is using our money for the benefit of his and zero’s criminal friends here and overseas. I will say it again, we need to press for hearings and prosecution of these criminals when we regain the WH


12 posted on 10/15/2011 10:33:01 AM PDT by ronnie raygun (V)
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To: EGPWS

” The printing press tax on those who produce. “

The printing press tax on those who produce, our children, grandchildren and great-grandchildren unto the 27th generation....


13 posted on 10/15/2011 10:33:32 AM PDT by Uncle Ike (Rope is cheap, and there are lots of trees...)
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To: quesney

I wonder when those morons down in the Financial District will ever get around to occupying the Treasury building?


14 posted on 10/15/2011 10:36:58 AM PDT by kevao
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To: quesney

about the only good news on this is that Geithner along with the gov’ts of the uk, canada and australia have rejected a BRIC proposal to put even more money into the IMF to bail out europe. So europe gets to piss away the existing IMF allocation, but doesn’t get any additional

http://ftalphaville.ft.com/blog/2011/10/14/702981/us-to-brics-thanks-but-europe-needs-to-save-itself/

i guess that’s as close to good news as we get these days..


15 posted on 10/15/2011 10:37:59 AM PDT by Reverend Wright (you voted for him to prove you're not racist, now vote against him to prove you're not stupid...)
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To: quesney
Troubled Asset Relief Program

Yeah, this is going to go over good with WE the people!

How stupid can these people get?? Never mind. Don't answer that.

Besides, why get po'd about it? Tax Money = Monopoly money

Where can I go to stop giving the govt my money to spend in idiot ways like this???

Oh yeah, the got 4000 tanks to send after me if I get out of line. We get closer to a tyranny every tick of the clock.

16 posted on 10/15/2011 10:40:30 AM PDT by HeartlandOfAmerica (Geithner: Taxes on 'Small Business' Must Rise So Government Doesn't 'Shrink')
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To: quesney
I heard that interview on CNBC yesterday and I got the opposite impression and I came away with the impression that there would be no funding from the US, at least directly.
17 posted on 10/15/2011 10:45:36 AM PDT by Perdogg (I will support any Republican candidate against 0bama in 2012)
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To: quesney

You wanna quit spamming the Breaking News and Frontpage sidebars with every article you post?

Thanks,


18 posted on 10/15/2011 10:50:04 AM PDT by Admin Moderator
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To: quesney
let me guess: europe is too big to fail.
19 posted on 10/15/2011 10:53:02 AM PDT by paul51 (11 September 2001 - Never forget)
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To: Farmer Dean; All

agreed- and while this turns my stomach it is just the sort of nail to reignite the Tea Party to a fever pitch greater than 2010 and put the final nails in obozo’s coffin...


20 posted on 10/15/2011 10:56:50 AM PDT by God luvs America (63.5million pay no federal income tax then vote demoKrat)
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To: EGPWS
Can't one be insanely evil?

Define "insanely evil..."

21 posted on 10/15/2011 10:58:08 AM PDT by freedumb2003 (Herman Cain 2012 -- the man we need at the time we need him)
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To: quesney

I thought Uncle Moneybags kicked the bucket...?


22 posted on 10/15/2011 11:34:04 AM PDT by Lady Lucky
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To: quesney

Can Obama get around Congress to accomplish this? The Republican house would still have to sign on to get the money appropriated, right? The answers to these questions used to be obvious but nowadays they just seem to be making it up as they go along.


23 posted on 10/15/2011 11:39:11 AM PDT by circlecity
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To: Wisconsinlady
It's not insanity: this is what happens when an elite can no longer comprehend that the reality around them has changed fundamentally.

Like the Aztec princes, who asked, after hastening the pace of sacrifices to the gods when the Spanish arrived, "Why isn't this working?"

Or the class of Roman officials who had embezzeled as much as they could while wrangling tax concession after tax concession from the emperor, and then asked, "Why don't we have money to pay an army to fight the barbarians?"

In brief: not a good sign regarding the health of our civilization.

24 posted on 10/15/2011 12:29:15 PM PDT by pierrem15 (Claudius: "Let all the poisons that lurk in the mud hatch out.")
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To: quesney

We can all go bankrupt together I guess


25 posted on 10/15/2011 12:31:08 PM PDT by GeronL (The Right to Life came before the Right to Happiness)
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To: quesney

Good thing Europe will be there to bail us out when we default.

Oh, wait... that doesn’t happen.


26 posted on 10/15/2011 12:40:43 PM PDT by hattend (If I wanted you dead, you'd be dead. - Cameron Connor)
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To: quesney

“”With global leaders preparing for next month’s Group of 20 nations (G20) summit in Cannes, France””

Goody! Goody! Michelle will get to go on another luxury vacation. Of course, her husband will go and she’ll HAVE to accompany him - with all her relatives and whoever in the heck the other 500-600 people are who always travel with her.

I ain’t so proud of my country anymore!!


27 posted on 10/15/2011 2:02:39 PM PDT by Thank You Rush
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To: quesney

Nothing is as it appears with Obama. This bailout is to protect large US banks who hold European debt. It’s like when they bailed out AIG in order to pay GS off.


28 posted on 10/15/2011 2:56:47 PM PDT by Diggity
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To: quesney

If the roles were reversed EU-rope would ask for an ownership stake in our banks in return.

Why don’t we ever get anything for our nations benevolence? (re: Iraq,kosovo,afghan,pakistan....)


29 posted on 10/15/2011 7:48:45 PM PDT by Finalapproach29er (God humbles and (if need be) destroys the false idols of the peoples. Be patient, folks...)
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To: circlecity
Can Obama get around Congress to accomplish this?

Yes.

One phone call to the Federal Reserve ought to do it. Well, actually, he might not even have to phone, they've probably already sent a trillion or two secretly on their own.

30 posted on 10/15/2011 8:39:44 PM PDT by CanaGuy (P.M. Steven Harper: We gave you a majority, now get busy!)
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To: Admin Moderator

“You wanna quit spamming the Breaking News and Frontpage sidebars with every article you post?”

You call this spam?


31 posted on 10/17/2011 2:46:11 AM PDT by quesney
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