"Heckuva Job, Timmy!"

Geithner is on his way out at Treasury, as evidenced by Obama's vehement denials.

Next up: Larry Summers

Maybe Obama Can Find a Cabinet Post for Bernie Madoff

The reliably evil Senator Christopher Dodd (D - Hell) is pushing a bill to let the FDIC borrow up to $500 Billion from the US Treasury. Round up the usual suspects: Treasury Secretary Tim Geithner, Federal Reserve Chairman Ben Bernanke, and FDIC Chairman Sheila Bair are Dodd's co-conspirators.

Let's see if I have this straight:

• In the middle of a banking collapse, in order to encourage depositors to leave their money in insolvent institutions, the Congress votes to raise the FDIC deposit insurance limit from $100,000 to $250,000;
• The FDIC says it needs to borrow money from the Treasury because more banks are failing than FDIC's present assets can cover;
• The US Treasury, itself bankrupt (approx. $14 - $20 trillion in debt), loans one-half trillion dollars it doesn't have to FDIC;
• Everyone lives happily ever after.

Excuse me, but isn't this the sort of financial trickery we're sending Bernie Madoff to jail for?

Heir or Parent?

President Barack Obama's Treasury secretary says the administration has inherited "the worst fiscal situation in American history."

Inherited? I'd say Obama & Co. were instrumental in bringing about the current mess.

The root of the economic disaster is the inflationary regime of fiat money brought about by the creation of the Federal Reserve and FDR's creation (by confiscating all of the monetary gold in private hands and nullifying all contracts, public and private, for payment in gold) of a federal monopoly over money. Geithner was head of the New York Federal Reserve for fifteen years, which means he has been wrong about everything for at least that long.

The Democrats, Obama included, did nothing to reign in Bush's mad imperial ambitions. Sure, they made the obligatory opposition noises but, in action, they gave Bush everything he wanted. Now, in the aftermath of this crime against humanity, the Democrats, including Obama and his oh-so-ethical Attorney General, say that no one will be brought to justice.

Ah, but what about the greedy banks that knowingly made loans to uncreditworthy people? Excuse me, but didn't Obama and ACORN, among others, use the Community Reinvestment Act to browbeat "racist" banks into making the very loans the "community organizers" are now denouncing the "greedy" banks for having made?

Obama didn't inherit this mess; it's his bastard child.