Skip to comments.No US government takeover of economy:Geithner
Posted on 10/10/2010 10:06:11 AM PDT by NormsRevenge
WASHINGTON (AFP) US Treasury Secretary Timothy Geithner on Sunday refuted charges President Barack Obama planned to use the financial bailout of troubled US firms to increase the government's stake in the US economy.
"President Obama adopted a strategy designed to get the government out of the private sector as quickly as possible," Geithner wrote in an op-ed piece published by The Washington Post.
The comments came after the Troubled Asset Relief Program expired last week.
TARP had at one point called for 700 billion dollars of taxpayer money to be handed over to Wall Street institutions to shore them up in the midst of the global economic crisis.
The treasure secretary said that to date, the government had recovered more than 200 billion dollars in TARP funds, as well as made 28 billion in profits.
The US government would exit insurance giant AIG and the automotive industry "much faster than anyone predicted," he added.
"General Motors is planning an initial public offering for later this year, and AIG has announced a restructuring plan that will accelerate the timeline for repaying the government," he said.
Geithner noted that because of TARP, "the financial security of all Americans is much stronger today than it would have been without the rescue strategy that the program made possible."
(Excerpt) Read more at news.yahoo.com ...
There is no more “US” government Mr.G.
U.S. Treasury Secretary Timothy Geithner (L) talks to Spain's Finance Minister Elena Salgado at the finance ministers and central bank governors group photo of the annual IMF-World Bank meeting at the IMF headquarters building in Washington October 9, 2010. REUTERS/Yuri Gripas (UNITED STATES - Tags: POLITICS BUSINESS)
Taking over the Health Care industry is not government control of 1/7 of the economy? How about GM?
These jerks are peeing on our legs and telling us it's raining.
Why shouldn’t we believe Turbotax boy? lol
ONLY a dumb DUM would say that with 500 Billion STILL owed that they got a 28 Billion profit.
Actually, it’s a Jim Crammer moment, contrarian indicator.
I suppose the health-care debacle doesn’t count.
These people have no shame.
This POTUS has done more to create a government takeover of everything than any POTUS in history.
These people have no shame.
No, they don’t, do they?
but I suspect they got a sh*tload of moolah overseas waiting for them when they leave office
Everything is "pie in the sky" unknown "what if's" for these people.
Not a damn thing they state can be taken seriously except one single word.....
The list, ping
Let me know if you would like to be on or off the ping list
We Homer Simpsons(American taxpayers), are too dumb to know what’s good for us The Obama admin. has told us that every time another hundred thousand people lose their jobs, and since their goals are superior to the aims of the Constitution...Fabian socialism for starters, we’ll be led to the executioner post haste, like it or not. As Michelle put it, we shouldn’t mind giving up a little so that others can have more. By others, she meant the entire Third world and any Muslim with an axe to grind.
Here’s an idle thought: How could ‘Indiana Jones’ be made in these times? Hint: it couldn’t. That scene with Indy pulling a gun on the sabre-wielding Arab is enough to doom the film. And since we have it on the best authority that’we can absorb another terrorist (for which read Muslim/Arab), attack the Obama admin. is insulated against any criticism if and when we do get bombed or shot to bits. Anyway, it’s our own fault. We haven’t praised Muslims enough for their many contributions to science and modern life. Ha, ha, and the Russians thought they’d invented everything. Who knew.
Actually, its a Jim Crammer moment, contrarian indicator.”
Why do these fools lie.