David Kirkpatrick

January 11, 2010

I’m not happy with the banking industry either, but …

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 12:44 pm

Geithner is absolutely correct on this tax proposal. All this would do is further economically depress the very people it’s designed to protect.

From the link:

With popular anger building as big banks show profits and pay sizable bonuses while unemployment remains high, the Obama administration has come under pressure at home and abroad to support a financial transactions tax on institutions and to heavily tax their executive compensation.

But the United States, led by the Treasury Secretary Timothy F. Geithner, has been opposed, arguing that a transactions tax would simply be passed on to customers and a bonus tax could be easily circumvented.

November 19, 2009

More news from the “no duh” department

Filed under: Business, Politics — Tags: , , , , , , — David Kirkpatrick @ 3:19 pm

Today it’s from Treasury Secretary Tim Geithner:

“This credit crunch is not over,” Geithner at a small business financing forum in Washington hosted by the Treasury. “It may feel dramatically better for large companies, but it is not over for small businesses across the country.”

February 17, 2009

Five-act play on Wall Street stupidity

Filed under: Business, Politics — Tags: , , , , — David Kirkpatrick @ 2:35 pm

Pretty funny stuff from MainStreet.com. Here’s five bits of prima-facie evidence of Wall Street stupidity.

From the link, number one with a Dumb-o-meter score of 95:

If Tim Geithner actually believed his “Financial Stability Plan” was going to calm anybody, we’d hate to hear his ideas on how he would wreak true terror.

Stocks in New York sold off sharply Tuesday after the Treasury secretary unveiled his much-hyped plan. (The fact that he called it a financial stability plan is an oxymoron, italics intended.) In short, Geithner’s $1.5 trillion program aims to combat the financial crisis through a collaboration of public and private investments and a consumer and business lending initiative.