Geithner's Treasury Tax Woes: He's Too Big to Fail

Need Someone Very Honest

We're going to need a very honest guy at this position. The TARP Reform Bill that Barney Frank is trying to push through not only gives the banks the remaining $350 billion, it gives the banks access to more money through direct borrowing by the FDIC and Treasury without Congressional oversight.

http://ewebsmith.com/Gov/tarpreform.html

Web Smith of CA @ Jan 14, 2009 20:12:26 PM

It is telling that Team Obama KNEW about this + still nominated him. What does that say? To me, it says that having one party govt will lead to arrogance and ultimately, policies that are in the interest of the Democratic party and the special interest groups they cater to. Not only do we have one party govt, we essentially have a one party press. This will be a very dangerous time for America as we may never be able to untangle the destructive influence of policies that will be rammed down our throats.

I-Man of NV @ Jan 14, 2009 14:23:46 PM

More of the same

This typical of 21st century America. The rich and powerful can do anything they want and get away with it, while us poor taxpayers foot the bill. If this guy is so astute, how come he doesn't know how to get his taxes done properly. FI I ever tried to pull a stunt like this the IRS would sock it to me but good.

Steve of OH @ Jan 14, 2009 13:52:17 PM

Change Has NOT Come - Part II

One clarification to my post above. Geither worked at Goldman Sachs for 26 years, then, moved over become the Treasury Secretary under the most corrupt US Presidential administration in history--the Clinton administration.

Post Clinton, he moved to Citigroup in 2001, where he was Director and Senior Counselor of Citigroup, where he performed ongoing advisory and representational roles for them. Reports indicate he sucked at it.

He became Chairman of Citigroup for a short time (like one month or so) and then was he was fired, although Citigroup announced his resignation in Jan 2009...yeah, right! Of course, they criticized his performance but he still managed to collect $126 million in cash and stock during his eight years at Citigroup.

So Rubin was Treasury Secretary..and now we have Tim Geithner. Sounds like a good ol' boy network to me.

Art C. of FL @ Jan 14, 2009 10:54:30 AM

Change Has NOT Come to America (Didn't Believe the Hype Then and Don't Now)

I just contacted my Senators in Florida requesting they NOT support the President-elect's nominee, Timothy Geithner, for the cabinet position of Treasury Secretary. I don't think it will make a difference. They do what they want anyway!

Geithner's willful disregard to comply with US tax law is, at a minimum, a disqualifying factor with his Senate confirmation.

As Treasury Secretary, he would oversee the IRS. I heard on TV that it is IRS policy to immediately terminate any IRS employee who fails to file and pay their taxes. So the top level management should set the example or else, it sends a message of hypocrisy. We are above the law and you little people are not. The fact that he didn't pay his $42,000 tax bill until he was nominated indicates a willful disregard to pay his taxes. He was warned by the IMF on several occasions on how to pay his taxes. I don't believe he ever intended to comply. It is common practice among politicians to pay up when they are caught and then claim it was an "honest" mistake. As an ordinary American, I find it very offensive that characters like this get away with this. Most Americans manage to pay their taxes on time every year.

If this nomination goes through, it will confirm that "change" has NOT come to America, but instead, we get more evil people and corruption at the highest levels of the US government. Again, more of the same, tired, Washington politics that turns people off! Tim Geithner, is a Robert Rubin protege. It was Rubin who is responsible for this financial mess the country is in now. He ran Goldman Sachs and rec'd a huge government bailout after they pushed the mortgage backed derivatives that caused the financial markets to collapse. And of course, after ruining the economy, they have the audacity to ask for a govt bailout with us, taxpayers, footing the bill for generations to come.

Crooks like these should be rounded up and put in jail. They ruined the pensions of millions of Americans. I lost quite a bit of my 401K and no one is bailing me out.

I for one, am ready for a new political party that is responsible for doing the will of the people and not the two parties we have now that don't care what we think. They only care about enriching themselves and their cronies.

Art C of FL @ Jan 14, 2009 10:39:32 AM

Democrat benefits

I'm thinking of becoming a Democrat for the tax and legal benefits. No Republican would survive what Geithner is about to blow off.

Max of WI @ Jan 14, 2009 09:58:16 AM

I agree with Roy...

...however, I'm pretty comfortable with Geithner as the Treasury pick. During the election, I was worried that Obama would choose a big government ideologue like Krugman for Treasury. It would be unfortunate if Geithner's problems render him as not able to be confirmed because he has a good knowledge of a lot of the particulars of the present financial mess -- as well as detailed participation and insight into the TARP. Hopefully, Obama can find someone similar if Geithner happens to have to much baggage. It's a shame.

Joe C. of VA @ Jan 14, 2009 08:38:37 AM

taxes

So, if it's ok with the senate, and he gets a byb on paying his taxes, does everyone?

Really folks, NO one person is so important that they should be excempt from the law. No one

roy of CA @ Jan 14, 2009 08:29:03 AM