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There’s one man who cannot get unemployed in this economy  no matter how much he tries it , and that’s Bush’s first bailout architect and Obama’s tax cheating Secretary of Treasury. In spite of shoveling taxpayers money directly into the wallets of AIG executives, his job is secure. Or, rather, because of it.

According to Politico, Obama stated so in his 60 Minutes interview

And, yet again defending his Treasury Secretary, Obama said he wouldn’t accept Timothy Geithner’s resignation if it were offered.

Obama said jokingly that he’d respond: “Sorry Buddy, you’ve still got the job.”

And this is a joke the White House won’t try to cancel with a WORM. This joke is here to stay!


I am reminded of W joking to his Army secretary, embattled Enron executive Thomas White: “I need you – you’re my lightning rod”

(same type of humor Jr and Jr.jr). But Geithner is more the reason Obama was installed than White ever was, so his job has to be the most secure of all.

Meanwhile, Paul Krugman is explaining once again why Geithner 9and Obama) are dead wrong in their plans

buying up a bunch of troubled assets. Actually, that’s not quite it: the Obama administration has apparently made the judgment that there would be a public outcry if it announced a straightforward plan along these lines, so it has produced what Yves Smith calls “a lot of bells and whistles to finesse the fact that the government will wind up paying well above market for [I don’t think I can finish this on a Times blog]”

And now that Geithner’s boss is si firmly behind him, maybe we can hold him responsible too

Because I’m afraid that this will be the administration’s only shot — that if the first bank plan is an abject failure, it won’t have the political capital for a second. So it’s just horrifying that Obama — and yes, the buck stops there — has decided to base his financial plan on the fantasy that a bit of financial hocus-pocus will turn the clock back to 2006.

Not Your Sweetie

March 2009