Treasury’s Geithner, Fed’s Bernanke Testify on AIG, Need for Reform

By | March 24, 2009

  • March 24, 2009 at 9:01 am
    TX says:
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    Excuse, you did not realize what his “Change” was – I just hope that all who put him in office are ready for “his change”!! Get ready, it is on its way.

  • March 24, 2009 at 12:38 pm
    Pete says:
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    Slow, steady, quiet, unrelenting, encroachment……..
    SAVE US – SAVE US!

    Sorta reminds me of Germany in the 20’s & 30’s!

    Freedom to what? Freedom from what?

  • March 24, 2009 at 1:36 am
    Bill's world says:
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    ..oh yeah. The former Republican majority and administration were such a model of efficiency as they ran an unprecidented budget surplus and booming economic climate into the ground!! Why don’t you wait a few years, while the current group attempts to dig us out of the mess we are in, before you grace us with your comical observations. At least this group manages to put the costs for Iraq and Afganastan into this year’s budget! We were “governed” by amatures for the last 8 years who cared more about banning gay marriage and grandstanding on other “moral” dilemas while they “managed” us into an obscene budget deficit. A huge deficit,and the war was not accounted for in the budget until now. Wow. Talk about reality. The prior administration sought to create their own reality outside the real world of economics and world politics and now the current group has to clean it up. If you are so smart, why don’t you run for office so you can give us a lesson on the “real world”. I still have not seen a solution advanced from all the right-wing critics. It’s probably too much for their small minds to comprehend.

  • March 24, 2009 at 1:49 am
    Mike F says:
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    If you listened to Paulson a year ago, he was also talking of putting non-financials (Insurance Companies part of mix) under the rule of the Federal Reserve. The Dems and Republicans are both out for a power grab, What we are leading into and you can see the comparisons of Mousilinis Facist State, that it would be a combination Private/Government ownership. Bernanke, Paulson, Bush, Geithner and the rest of the politicians are bring the US from a Constitutional Republic to that of a fascist state in which the Government will rule every business. In my opinion, if a company like AIG fails due to bad management or policies, let them go fall and go the route of bankruptcy, all of the profitable units will be purchased by other companies, and life will go on.

  • March 24, 2009 at 2:14 am
    David says:
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    If you read up on Dick Cheney and his guy David Addington, you will see that we were closer to Fascism under the prior administration than ever before. Ever since Watergate, Cheney has been obsessed with strengthening the powers of the Presidency. He felt, Watergate somehow weakened Presidential power. Did Watergate actually weaken Presidential power? Was there something added to the Constitution as a result of Watergate? No. Nothing changed. But Cheney hired the far-right Addington to manipulate constitutional wording into their “interpretations” of the Presidential powers through Presidetial “signing statements” that Bush would sign on the a bill after he signed it into law. Read up on it. “Signing statements” in and of themselves are not a bad thing. Saying the President is not bound into following what is written in a bill he is about to sign (which Bush did on more than one occasion) is a manipulation of the constitution. Cheney was all about doing and “end-run” on checks and balances that keep power evenly spread among the 3 branches of govnernment when it suited his purposes. That is what leads to Fascism.

  • March 24, 2009 at 2:38 am
    Mike F says:
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    I agree with you that this goes much further back to what is happening today, but in my opinion, it is Both Republicans and Democrats who are leading this country to Facism.

  • March 24, 2009 at 2:47 am
    David says:
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    Just be concerned if power is concentrated into one branch at the exclusion of all others. You are right in that we could be a victim of “over correction” by giving the Treasury Secretary absolute power in a given area. I doubt it will happen, given the egos in the house and senate.

  • March 24, 2009 at 2:49 am
    WAZZUP says:
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    Pete, careful or you will fall out of the paranoid tree!

  • March 24, 2009 at 3:13 am
    An Interested Party says:
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    I wish both sides were not so polorized on blaming each other for all this mess. We don’t need polorized Democrats or Polorized Republicans. What we need is regulation on those businesses who cannot be trusted to keep the public welfare in mind and we need strong penalties and jail time for violaters. Last but not least we need honest politicians in both parties and Strong Penalties for violaters of the public trust. After all that is the platform all of them run on,”Honest Politics and a Change.” I know that these ideas are pretty unrealistic but it is sad that that is how it is now. Not that many years ago it would not have totally been the case. People would not have stood for it.

  • March 24, 2009 at 4:05 am
    Sam says:
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    It is more of a Conservatism vs Liberalism argument now, But due to the fact most democrats are liberal and some (maybe very few republicans) are conservative. It is funny to watch liberals try to govern. They complain and blame and then watch them try to fix what they just complained about.

    Liberals always want to blame, just look at this blog, I have read about Cheney, Bush, Paulson. At some point the democraticaly led congress and the liberal biased media will have to own the problems instead of always looking back at Bush. Obama is finding out how difficult the job is that he applied for and recieved. I dont think we would have voted for this guy had we known what “Change” meant.

  • March 24, 2009 at 4:08 am
    Jake says:
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    Liberal facts

    Interesting comment in the Tallahassee Democrat.
    >
    > What do top ten cities with the highest poverty rate all have in common?
    >
    > Detroit, MI (1st on the poverty rate list) hasn’t elected a Republican mayor since 1961;
    > Buffalo, NY (2nd) hasn’t elected one since 1954;
    > Cincinnati, OH (3rd)…since 1984;
    > Cleveland, OH (4th)…since 1989;
    > Miami, FL (5th) has never had a Republican mayor;
    > St. Louis, MO (6th)….since 1949;
    > El Paso, TX (7th) has never had a Republican mayor;
    > Milwaukee, WI (8th)…since 1908;
    > Philadelphia, PA (9th)…since 1952;
    > Newark, NJ (10th)…since 1907.
    > Einstein once said, “The definition of insanity is doing the same thing over and over again and expecting a different result.”
    > It is the so-called disadvantaged who habitually elect Democrats, yet they are still “disadvantaged.”

    And we elected Obama to run the country!

  • March 24, 2009 at 4:23 am
    mike f says:
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    It is not about Dems or Republicans, they are all in bed with each other. When I was younger, you could see the differences between the two, today what we see is which party can give out the most entitlement programs. We all have to remeber that all of the money or real money the government has to spend is from the taxpayer. More govt programs, the higher the taxes have to go to pay for them. Recently we have also been borrowing money from other countries, but how long will this last as the US Dollar becomes weaker. I do not understand why the media does not even discuss that this week, the UN is voting on removing the Dollar as the the world reserve currency. If we think AIG is bad, this will be 100 times worse for the economy.
    It is not within the Constitution that gives unrelinquished powers of to the Dept of the Trasury and or the Private Corporation Federal Reserve powers to systematically break up companies. We have the Free Enterprise System, and if companies like AIG screw up, let them go under, and they will be replaced by other companies that are hopefully managed better. Why is it that when Ron Paul questioned Bernanke about where the Bailout Money is going, Bernanke refused to devulge this information. Where is the Transparency promised?



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