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No US government takeover of economy:Geithner
AFP on Yahoo ^ | 10/10/10 | AFP

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 ...


TOPICS: Business/Economy; Crime/Corruption; Government; Politics/Elections
KEYWORDS: economy; geithner; government; takeover

1 posted on 10/10/2010 10:06:15 AM PDT by NormsRevenge
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To: NormsRevenge

There is no more “US” government Mr.G.


2 posted on 10/10/2010 10:08:13 AM PDT by Dallas59 (President Robert Gibbs 2009-2013)
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To: NormsRevenge

Liar.


3 posted on 10/10/2010 10:08:14 AM PDT by SoCalConstitutionalist
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To: NormsRevenge
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.

Yea right...


4 posted on 10/10/2010 10:08:56 AM PDT by darkwing104 (Lets get dangerous)
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.

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)


5 posted on 10/10/2010 10:09:14 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge
Huh?

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.

6 posted on 10/10/2010 10:09:44 AM PDT by BenLurkin (This post is not a statement of fact. It is merely a personal opinion -- or humor -- or both.)
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To: NormsRevenge

Why shouldn’t we believe Turbotax boy? lol


7 posted on 10/10/2010 10:11:58 AM PDT by cripplecreek (Remember the River Raisin! (look it up))
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To: NormsRevenge

ONLY a dumb DUM would say that with 500 Billion STILL owed that they got a 28 Billion profit.


8 posted on 10/10/2010 10:13:37 AM PDT by Marty62 (marty60)
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To: NormsRevenge

PsyOps

Actually, it’s a Jim Crammer moment, contrarian indicator.


9 posted on 10/10/2010 10:15:39 AM PDT by TruthConquers (Delendae sunt publicae scholae)
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To: NormsRevenge

I suppose the health-care debacle doesn’t count.


10 posted on 10/10/2010 10:17:05 AM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: NormsRevenge
"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.

These people have no shame.

This POTUS has done more to create a government takeover of everything than any POTUS in history.

11 posted on 10/10/2010 10:22:07 AM PDT by EGPWS (Trust in God, question everyone else)
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To: EGPWS

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


12 posted on 10/10/2010 10:25:07 AM PDT by NormsRevenge (Semper Fi ... Godspeed .. Monthly Donor Onboard .. Obama: Epic Fail or Bust!!!)
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To: NormsRevenge
If they have to come out and say it....
13 posted on 10/10/2010 10:26:19 AM PDT by Allegra (Flank steak is very lean.)
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To: NormsRevenge
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."

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.....

Unexpected!

14 posted on 10/10/2010 10:26:21 AM PDT by EGPWS (Trust in God, question everyone else)
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To: Jet Jaguar; NorwegianViking; ExTexasRedhead; HollyB; FromLori; EricTheRed_VocalMinority; ...

The list, ping

Let me know if you would like to be on or off the ping list

http://www.nachumlist.com/


15 posted on 10/10/2010 10:29:12 AM PDT by Nachum (The complete Obama list at www.nachumlist.com)
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To: NormsRevenge
The Ouija Board spelled out "T U R B O T A X"...


Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.

16 posted on 10/10/2010 10:31:40 AM PDT by The Comedian (Keep talking while I reload...)
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To: NormsRevenge

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.


17 posted on 10/10/2010 10:32:25 AM PDT by hershey
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To: TruthConquers

“PsyOps
Actually, it’s a Jim Crammer moment, contrarian indicator.”

Cognitive dissonance.


18 posted on 10/10/2010 10:42:20 AM PDT by dljordan ("His father's sword he hath girded on, And his wild harp slung behind him")
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To: NormsRevenge

Why do these fools lie.


19 posted on 10/10/2010 11:02:19 AM PDT by freekitty (Give me back my conservative vote; then find me a real conservative to vote for)
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To: NormsRevenge
Frankly on the, next bailout we should take over the companies we bail out. If we are risking it, we should profit, not this prick


20 posted on 10/10/2010 11:17:17 AM PDT by mainsail that ('Sed quis custodiet ipsos custodes')
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To: NormsRevenge

“The comments came after the Troubled Asset Relief Program expired last week.”

What an amazing coincidence. Did TRAP expire just before or just after the banks realized that their non-performing assets (i.e. troubled assets) also had impaired titles, and are probably worth less than worthless


21 posted on 10/10/2010 11:21:47 AM PDT by radmanptn
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To: NormsRevenge

You don’t have to own everything.

You just have to control certain key industries and functions and you de facto “run” the economy.


22 posted on 10/10/2010 11:29:00 AM PDT by Red6 (IMHO)
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To: NormsRevenge

Yeah. Like we’d take the word of a lying tax cheat.


23 posted on 10/10/2010 12:14:53 PM PDT by 444Flyer (We are the end of the line.)
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To: NormsRevenge
No US government takeover of economyAm I the only one who thinks the People should force all political office holders to pee in a cup?

These idiots are definitely on something!

24 posted on 10/10/2010 12:28:29 PM PDT by MamaTexan (I am a Person as created by the Law of Nature, not a person as created by the laws of Man)
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To: NormsRevenge

I ignore people who won’t pay thir taxes and use ignorance to explain away their folly.


25 posted on 10/10/2010 12:30:37 PM PDT by dforest
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To: NormsRevenge

Geithner:No further US government takeover of economy,

not right away,

because it looks like we soon won’t have enough Democrats in Congress.


26 posted on 10/10/2010 12:55:57 PM PDT by flowerplough (Thomas Sowell: Those who look only at Obama's deeds tend to become Obama's critics.)
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To: NormsRevenge

***** adopted a strategy designed to get the government out of the private sector as quickly as possible ****

Out of YOUR sector Tim, while getting more into everyone elses. As planned.


27 posted on 10/10/2010 5:35:33 PM PDT by Varsity Flight
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To: Varsity Flight
This guy is positively creepy. I also want to know who provides the high quality hallucinogens to our ruling elites. They've got some prime dope (drugs and users).
28 posted on 10/10/2010 9:53:57 PM PDT by MasterGunner01 (To err is human; to forgive is not our policy. -- SEAL Team SIX)
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