Friday, May 18, 2012

Treasury Secretary Geithner admits he has no idea about government finance

Appointments to cabinet positions in the Executive Branch have frequently been cronyistic rewards for supporters and those who helped finance a President in office.  Take for example former NY Fed President, and now Treasury Secretary Timothy Geithner, who admitted on on May 17th in a PBS interview that he has no idea how the government debt and other financial boondoggles have take place.



While we knew TurboTax was beyond him, the Treasury debacle-in-chief admits he doesn't understand how the debt limit has bubbled back up (seeing it as part of a partisan political agenda); admits that perhaps the NY Fed has a 'perception problem' with Jamie Dimon on the board; and his piece-de-resistance his cognitive dissonance erupts as he touts Obama's economic and jobs record: "look how well we are doing relative to any other major country". - Zerohedge



 
All we have to do is remember three years ago when Geithner went to speak before university students in China on economics and finance, and he was virtually laughed off the stage for his idiotic understanding and attempted propaganda regarding the US dollar.

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