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

CNBC ^

[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.

[quesney]

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?

[Farmer Dean]

Foreigners reaching for my wallet?Not a good idea.

[EGPWS]

Where do we get the money for all these hair-brained schemes,...

The printing press tax on those who produce.

[Wisconsinlady]

Is Geithner completely insane or just plain evil?

[EGPWS]

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.

[EGPWS]

Is Geithner completely insane or just plain evil?

Can't one be insanely evil?

[Errant]

“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...

[Don Carlos]

They will always be there when they need us.

[elpadre]

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.

[dforest]

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.

[ronnie raygun]

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

[Uncle Ike]

” 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....

[kevao]

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

[Reverend Wright]

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..

[HeartlandOfAmerica]

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.

[Perdogg]

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.

[Admin Moderator]

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

Thanks,

[paul51]

let me guess: europe is too big to fail.

[God luvs America]

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...