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Treasury chief: Need more powers

March 24th, 2009 . by TexasFred

Treasury chief: Need more powers

WASHINGTON - Treasury Secretary Timothy Geithner asked Congress on Tuesday for broad new powers to regulate nonbank financial companies like troubled insurer American International Group whose collapse could jeopardize the economy.

“AIG highlights broad failures of our financial system,�? Geithner told the House Financial Services Committee. “We must ensure that our country never faces this situation again.�?

At the same time, Federal Reserve Chairman Ben Bernanke revealed that he had considered filing suit to keep AIG from paying millions in executive bonuses but that his legal advisers counseled him against it.

Geithner acknowledged that the current climate of anger, including the furor over those retention bonuses, will complicate any effort by the Obama administration to get more bailout money from Congress. “We recognize it will be extraordinarily difficult,�? he said.

The administration sought to use that rancor to build support for its financial overhaul proposals.

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Treasury chief: Need more powers

What’s that Lassie?? You say Lil’ Timmy fell in the well?!?! Oh, good girl Lassie, good girl, have some doggie treats and let the stupid son of a bitch STAY in the well!!

Here is ALL you need to know about giving MORE POWER to a dingbat that’s placed in charge of the U.S. Treasury and he can’t even do his OWN income tax return.

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14 Responses to “Treasury chief: Need more powers”

  1. comment number 1 by: rtaylor83305

    Love the button…

    Reading stories like this makes me wonder if I’m living in an alternate reality…….

  2. comment number 2 by: Vigilante

    Something I have been pondering Fred, maybe you can enlighten us. If this worthless bastard needs a financial advisor as mentioned on the news last night, why not get rid of his crooked ass and put the financial advisor in his seat? heh heh heh.

  3. comment number 3 by: TexasFred

    why not get rid of his crooked ass and put the financial advisor in his seat?

    Can’t do it, it makes far too much sense… :?

  4. comment number 4 by: AmericanAngel

    Man, you sure have been using that “Bullshit” button alot lately.

  5. comment number 5 by: TexasFred

    Probably gonna be using it a lot more in coming days too… :D

    The *Lassie* part had Wicked Stepmother rolling… :P

  6. comment number 6 by: Texas Cowgirl

    rtaylor8803 said, “Reading stories like this makes me wonder if I’m living in an alternate reality…….” LOL! I’m thinking maybe some sort of parallel universe.

    Look, you put the crooks in charge of the treasury and what do you expect will happen? In my universe, I cannot believe that a guy who cheated on his taxes is in charge of the United States Treasury, much less that he wants more powers, and that he might actually get those powers.

    If I cheated on my taxes, do you suppose the “Oops!” defense would work? Kinda doubtful.

    Of course, I sort of have a problem with the crooks who caused the lending collapse, and who personally profited from it, being put in charge of fixing it.

    I seem to be spending a lot of time shaking my head and thinking, “WTH”?

    Fred is going to be really busy with that BS button. LOL!

  7. comment number 7 by: ChicagoRay

    Fred I watched that dog and pony and the whole damn shebang up there on CRAPital Hill needs to be drug out to the streets and hung like Czar Nicholas or some bloody Brits during the revolutionary war, they’re so out of control and drunk with power they threw our constitution out long ago and now their wiping their fat asses with it for good measure.

    America must throw these bums out ALL OF THEM BOTH PARTIES minus the freshman who haven’t been around long enough yet….

  8. comment number 8 by: ozarkguru

    Button says it all!

  9. comment number 9 by: Just why is Obama so intent on support a failure like Geithner? | The BoBo Files

    [...] - Obama continues to stand behind this man.  Even now with reports that they are trying to exceed the executive powers by nationalizing our entire financial system - Obama throws his entire weight of the office behind [...]

  10. comment number 10 by: Cracked World

    This is insane! Also known as Socialism
    Just how do they intend to determine which companies need to be SEIZED!?!?

  11. comment number 11 by: TexasFred

    I don’t think there will be much done in the way of determination, I think it’s just going to be ALL businesses, it’s what the *hive* wants…

  12. comment number 12 by: Doc Roy

    Fred, how would you like to have a large insurance group and receive a registered letter delivered by US Marshals informing you that Timmy Geithner was confiscating your group for the foreseeable future—for the good of the country. And, Oh yes, Barney Frank and Chris Dodd and Maxine Waters and “Hognose Henry” Waxmann from California would be running the company. Apparently there is nothing we can do to stop this madness.

  13. comment number 13 by: BobF

    The vast majority of Congressmen have never held jobs in the civilian sector. The House Banking Scandal proved that they can’t even balance their own checkbooks. What in the world makes people believe these buffoons are capable of overseeing and running large corporations who’s existence depends on producing and making a profit?

  14. comment number 14 by: Faultline USA

    “The administration sought to use that rancor to build support for its financial overhaul proposals.” Keep giving Lassie those trreats!