Geithner: The 12 Month Test

I read recently that a number of years ago Tim Geithner influenced the IMF to impose the wrong policy on Indonesia during their economic crisis with the result that the Indonesian economy collapsed and Suharto was swept from power. Can you research this, and if it is true, Fox should make that fact known to the public. If he can't correctly diagnose a smaller country's economic problems; how is it we expect him to correctly diagnose and effect recovery to the US economy?

Sounds like you're in the tank for this guy. He simply doesn't have the experience and backbone for the job. Cut our losses and move on to someone who can work out the problems and inspire at least some level of confidence.

Geitner and the rest of the cronies who met behind closed doors to modify the AIG bailout to suit the democratic (SOCIALIST) agenda should all be brought to their knees for modifying the agreemenmt to allow the bonuses in the first place. Only knew about the bonuses 2 weeks ago? Give me a break. I knew about it last November. Now to cover their rears, they want to break the constitution and void prior agreed to bonuses. Who is next, the small business man who the government decides is making too much money should be taxed back to what they consider fair and balance.

Geithner is clearly over his head. To permit him to dither around as he has done to this point (there is absolutely nothing to show for his "leadership") until the end of the year is sheer nonsense - and we don't have the time. This isn't a new bank teller who's proving to be a bit slow learning his job. This is one of the most critical positions in the federal government and it needs to be filled NOW by someone with far more talent than Geithner has. Even he could quote you the quintessential law of the financial world, which is: Cut your losses QUICK; let your winnings ride. End of the year, indeed!

Hi Cheryl, this is my first visit to your blog. I agree it is too soon to dump Geithner, but a year is too long. He has experience in most of these matters via the NY Fed, so he should be more up to speed then he is. It is my opinion that he is better as a behind the scenes guy than the front man for economic matters for the Obama administration. I'd give him a total of 6 months and if not improved, then President Obama should cut him loose. Who IS ready to go is Senator Dodd .... I hope the voters in Connecticut retire him ASAP. I've switched from CNBC Power Lunch to your FBN show on a daily basis. I like your style and the fact you are not afraid to speak your mind and are willing to challenge a guest when you don't agree with them. Keep up the great work!

Come on, Cheryl, wake up! It doesn't matter what Geithner should have known and what not in the AIG mess because the AIG mess is just a very small fish in the ocean of troubles. What is lacking here is a clear position where the treasury stands on the big issues and whether things are being brought under control or not. As a fiscally responsible citizen I have the notion that Geithner and the directing Obama administration are working on these overwhelming problems in a very sloppy way without any solid plans ....because they have no clue how to solve them. Giving them more time will simply get us in deeper trouble. Alex Weisheit

I WONDER IF THE QUALITY OF DIRECTION GEITHER IS GETTING IS SUFFICIENT TO DO THE JOB HE NEEDS TO DO! THOUGHTFUL, MATURE LEADERSHIP FROM THE PRESIDENT IS ESSENTIAL AT THIS TIME AND I'M NOT SURE PRESIDENT OBAMA HAS THE "RIGHT STUFF" TO LEAD GEITHNER AND THE REST OF US THROUGH THIS MESS. THE TAXES WHICH SEEM TO BE HEADED OUR WAY AND THE SPENDING/BORROWING LEAVES A PERSON WONDERING IF WE AREN'T SELLING EVERYTHING WONDERFUL ABOUT OUR COUNTRY. WHAT KIND OF "GRAND CANYON OF DEBT" ARE WE DIGGING FOR KIDS, GRAND KIDS AND BEYOND.

I get the feeling, that EVERYBODY has to look over their shoulder to see if they get the "nod" to proceed or not on a project or statement, from the President. Problem is.., it wasn't just campaign rhetoric, that Obama had never run anything, and started campaigning as soon as he was elected senator.The man just doesn't have the experience.., but wants to coordinate everything his people do. Geithner "may" have had good ideas, but because his boss couldn't comprehend the concepts, Geithner may have been told to hold off. I don't think the guy was silent for so long, because he wanted to be. I don't feel like Geithner has been handed the ball and told to run with it yet. Just compare how slowly all the other departments are moving.., and I think you'll find this hesitency is systemic.I'd give Geithner more time.., but NOT another nine months. He needs to actually RUN his department, and not just be a proxy for the president.If he doesn't show some leadership soon, then out he goes.

He's clearly not the person for the job. Here's a pic of him taking smoke breaks rather than crunching numbers and developing solutions: http://blogs.e-rockford.com/applesauce/files/2008/09/000strangelove.jpg Here's another pic of him doing a promo shot for his side gig: http://www.sly.org/tinytim/TinyTim.gif

Not only has Geithner had enough time (remember "ready day one"?), he oversaw the Wall Street mess from his NY Fed seat. Or was Wall Street in Chicago at the time? This is his third strike. The administration is still in campaign mode and so is congress. Dodd got caught lying- Geithner just got caught lying- Barney Frank got caught asleep- and Pelosi got caught las night on immigration. A midnight spending bill, the largest in history, passed without being read. Isn't this more of a circus than an administration? Time for Obama 2.0

Timothy Geithner was touted as the only individual who could "fix the mess". He was confirmed in the face of serious tax problems that created an immediate lack of confidence. He compounded the lack of confidence with his presentation that led to a 700+ point decline in the market. Now it turns out that he was part of the AIG problem rather than part of the solution. The Senate that confirmed him must now wrestle with what it did. Timothy Geithner will not resign on his own. It will take a ranking Democrat Party leader to tell the President that Geithner must go. But, Timothy Geithner must go; the short term dysfunction can be replaced by market and public confidence and calm if the Administration can find someone above reproach.

I find myself questioning everyone in any place of deciding what is going to be done with our money. It is obvious no one cares what America thinks. Those in position in Washington and Wall Street call the shots and we wipe off the gunpowder burns. Circle the wagons and hide the women and children. We are in for a tough time unless someone has the intestinal fortitude to stand up and stop this mess.

cheryl, if they picked Geithner off the unemployment line and installed him, he would deserve time. He was not an unknown, was involved in the rescue of Bear Sterns before the election. Not an outsider. Not someone who deserves more time. Answer this. What has he done to install confidence? What has he done to show leadership?

Cheryl - James Bullard from the St Louis Federal Reserve would have been terrific as Treasury Secretary.

I don't agree. To expect us to be believe Geithner didn't know, but should have is lame at best. Of course he knew. Obama knew. Geithner, in my view, has already proven he cannot handle this job, so what makes you think another 8 months will sort anything out? Oh, by the way, I don't support the idea of his ouster. I'm just not going to buy into this garbage that keeps spewing from both the Treasury, the White House and the Congress about this, or any other matter.

Personally, I think it's funny. This bill was signed into place in February, right? The President took office in January, right? Geithner was already named Treasury pretty early on, and already knew about all this in January, right? But you say he didn't know until this past Tuesday? But wait, wasn't it Dodd and Geithner who wrote the bill, or was that some other unknown person, that the Treasury, the Democratic Congress, and our President all said had to be signed? AIG's bonuses should stand. They took bail-outs, the fed made an agreement with them, apparently AIG read the agreement, if the fed didn't, even though the taxpayers have to foot the bill, well then too bad - maybe the fed should actually read what they put in place! Another example why this administration has not a clue what the heck is going on, even though they write it!

I see the AIG bonus as just another distraction. The real issue here are the funds sent to the other banks for 100% collateral. At this point I want to see Tim Geithner's portfolio/holdings. There is a reason our Founding Fathers created checks and balances; no single Government entity, much less a single individual, was ever meant to hold the amount of power Geithner has been yielding. Below in billions from AIG to other institutions: Goldman Sachs $12.9 USA Bank of America/Merrill Lynch $12.0 USA Societe Generale $11.9 France Deutsche Bank $11.8 Germany Barclays $8.5 USA UBS $5.0 Switzerland BNP Paribas $4.9 France HSBC Holdings $3.5 U.K. Dresdner $2.6 Germany I firmly believe it's "audit the fed" time. Ron Paul and I agree on very little, but on this point he has my support.