Obama and Geithner Can't Agree on TARP!

Once again, the Obama administration reveals either incompetence or dishonesty in its economic policies this week. On Monday, when Barack Obama announced an effort to push a jobs package (but don’t call it “stimulus”!) through Congress, he said that he would end the controversial TARP program to fund it:

So what's it gonna be?? Who's on first?

Today, however, Treasury Secretary Tim Geithner announced that the White House would extend the TARP program: Treasury Secretary Timothy Geithner says the administration is extending the financial bailout program until next fall.

In a letter to House and Senate leaders, Geithner says the extension is “necessary to assist American families and stabilize financial markets.” …

Geithner says the program will be extended until Oct. 3, 2010.

So “wind down” is the Obama version of Orwellian Newspeak for “extension”? Less than 48 hours after Obama pledged to “wind down” TARP and use the leftover monies for job stimulus, his Treasury Secretary announces the exact opposite policy.

There are only two possible explanations for the contradiction. Either Obama lied on Monday, or he had no idea what Geithner had in mind for TARP. And frankly, I’m not sure whether I should be more worried about a flat-out lie or gross incompetence.

hotair.com...

This is classic. Now Obama will simply say that he does not recall making that statement and all will be forgiven.

Geithner is "Going Rogue" on Obama. He must have read Palin's best selling book. Perhaps they should get their stories straight considering the magnitude and complete waste of money that TARP has turned out to be.

[edit on 10-12-2009 by jibeho]

Seems to me that Mr. Obama and Mr. Geihner are no in the same tune, but that is how government works, Geihner works for the Federal Reserve and Goldman Sach, so we know who's will come first.

Still The so call "Job" stimulus that happens to be the second now been pased and pay for, while we have no clue where the money went, is supposed to help "small businesses to hired more people", but if we now as a nation are to depend on small business for employment in the US then we as a nation are in big trouble, small businesses are usually nothing but temp jobs on minimum wages that do not help boost the economy but locally and it doesn't help families get over poverty level, sorry to say that a nation without a strong industrial base is doom to fail and that is exactly what we are doing right now.

reply to post by jibeho


What do you expect from a man who is going to be the last President America ever had.

reply to post by poedxsoldiervet


So, basically, Obama is going to party like its 1999. We all know how well that went. He's printing up money left and right so he can "spend our way" out of this mess.

I like it. Let's all sign up for as many credit cards as we can and spend spend spend spend. When the bill comes, simply forward it to 1600 Pennsylvania ave. NW Washington DC 20500 C/O Barry Soetoro.

Bottom line is that Laurel and Hardy need to get something straight for once. It just doesn't look good for an administration that is so concerned with keeping up appearances.