Tim Geithner backs Merkel-Sarkozy eurozone rescue plan

Ah one of the Masters of the Universe Meets with the Puppets…

From The Guardian UK: http://www.guardian.co.uk/business/2011/dec/07/tim-geithner-merkel-sarkozy-eurozone-rescue

Treasury secretary endorses Franco-German rescue plan as US remains anxious about European debt crisis spreading

in Brussels
, Wednesday 7 December 2011

US treasury secretary Tim Geithner on Wednesday gave strong backing to Franco-German plans to resolve the sovereign debt crisis by reshaping the eurozone through tougher budget discipline.

The US is anxious to see that the European debt crisis does not drag it and the rest of the world into renewed recession. Geithner said he had “a lot of confidence” in what the countries were doing.

“We are very encouraged with the progress that is being made,” Geithner told reporters following a meeting with French finance minister Francois Baroin on the second day of his whirlwind trip through Europe.

The meeting came ahead of discussions with Europe’s centre-right leaders at their congress in Marseille, where he met French president Nicolas Sarkozy and German chancellor Angela Merkel along with new Spanish premier Mariano Rajoy. After the talks in the Mediterranean port city he will fly to Rometo meet Mario Monti, Italy’s new technocrat prime minister on Thursday.

Complete article at:   http://www.guardian.co.uk/business/2011/dec/07/tim-geithner-merkel-sarkozy-eurozone-rescue

3 Responses to “Tim Geithner backs Merkel-Sarkozy eurozone rescue plan”

  1. Andrea B. Says:

    Geithner approving of a plan, is not a good sign.

    Geithner by USA political standards is probably one of the thickest, idiotic, self obsessed, moronic, Goldman Sachs loving Americans to ever get a passport. I personally believe his passport application must have been filled in by someone else, as any question beyond ‘name’ would be to complex a question for him. Geithner has completely and utterly failed at everything he has ever done and can only say yes to people in power, because he not only has no idea what they are talking about, but he is thicker than a brick and the biggest ass licker in Washington DC.

    I just hope Merkel told him what he wanted to hear, so as to get rid of him and then get down to business. Either that or she spoke German, which might as well be Klingon as far as Geithner would be concerned.

  2. tinagrrl Says:

    My, my, my — getting a bit testy, are we?

    A bit more on Timmy – a true elitist if there ever was one:

    “Family and education

    Geithner was born in New York City, but spent most of his childhood in other countries,
    including present-day Zimbabwe, Zambia, India, and Thailand where he completed high school at the International School Bangkok.[5] He attended Dartmouth College, in the tradition of his father and paternal grandfather, graduating with an A.B. in government and Asian studies in 1983.[5] In the process he studied Mandarin at Peking University in 1981 and at Beijing Normal University in 1982.[6] He earned an M.A. in international economics and East Asian studies from Johns Hopkins University’s School of Advanced International Studies in 1985.[5][7] He has studied Mandarin[5] and Japanese.[8]

    Geithner’s paternal grandfather, Paul Herman Geithner (1902–1972), emigrated with his parents from the German town of Zeulenroda to Philadelphia in 1908.[9] His father, Peter F. Geithner, was the director of the Asia program at the Ford Foundation in New York in the 1990s. During the early 1980s, Peter Geithner oversaw the Ford Foundation’s microfinance programs in Indonesia being developed by Ann Dunham Soetoro, President Barack Obama’s mother, and they met in person at least once.[10] Geithner’s maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as Vice President of Public Relations from 1952 to 1964 for Ford Motor Company.[11]

    Geithner married Carole Sonnenfeld on June 8, 1985, at his parents’ summer home in Orleans, Massachusetts. They have two children, a daughter and a son.[12]”

    Perhaps not quite up to “European standards” for an “elitist central banker” – but still, not exactly stupid.

    Early career

    Geithner worked for Kissinger Associates in Washington for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. He went on to serve as an attaché at the Embassy of the United States in Tokyo. He was deputy assistant secretary for international monetary and financial policy (1995–1996), senior deputy assistant secretary for international affairs (1996–1997), assistant secretary for international affairs (1997–1998).[7]

    He was Under Secretary of the Treasury for International Affairs (1998–2001) under Treasury Secretaries Robert Rubin and Lawrence Summers.[7] Summers was his mentor,[13][14] but other sources call him a Rubin protégé.[15][16][17]

    In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department.[18] He was director of the Policy Development and Review Department (2001–2003) at the International Monetary Fund.[7]

    In October 2003, at age 42,[19] he was named president of the Federal Reserve Bank of New York.[20] His salary in 2007 was $398,200.[21] As President of the New York Fed, he served as Vice Chairman of the Federal Open Market Committee. In 2006, he also became a member of the Washington-based financial advisory body, the Group of Thirty.[22] In May 2007, he worked to reduce the capital required to run a bank.[19] In November he rejected Sanford Weill’s offer to take over as Citigroup’s chief executive.[19]

    In March 2008, he arranged the rescue and sale of Bear Stearns.[13][23] In the same year, he played a supporting role to Henry Paulson, former CEO of Goldman Sachs, in the decision to bail out AIG just two days after deciding not to rescue Lehman Brothers from bankruptcy. Some Wall Street CEOs subsequently expressed the opinion that decisions in which Geithner participated, especially the failure to rescue Lehman, contributed to worsening the global financial crisis.[24] As a Treasury official, he helped manage multiple international crises of the 1990s[16] in Brazil, Mexico, Indonesia, South Korea, and Thailand.[17]

    Geithner believes, along with Henry Paulson, that the U.S. Department of the Treasury needs new authority to experiment with responses to the late-2000s financial crisis.[13] Paulson has described Geithner as a “very unusually talented young man…[who] understands government and understands markets”.[23]

    I do not like him, nor do I think him a “good influence” on Obama — but I do not think it makes sense to so totally underestimate him, and others of his ilk.

  3. Andrea B. Says:

    Tina, every single thing Geithner has been involved in he has made a mess of.

    I am not getting testy, I know people personally who have suffered because of that bastard.

    He is one of the arseholes who put the boot in during the Asian banking crisis some years back. Just ask someone from Korea or Thailand for an opinion of Geithner and you will get a rant right into your face, that you will not forget. Geithner’s pathological hatred of the poor is well known outside the USA as is the fact he is as thick as a brick, as well as his worshipping of Friedmann-Rand. He is a yes man for Goldman Sachs as he clearly does not have the mental capacity to think about anything else.

    Geithner is a complete and utter moron who has constantly failed upwards due to his family connections, otherwise he would have died on the street decades ago.

    He was laughed at by economics students during a question and answer session in Beijing for good reason. He is a moron.

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