Posted by: Tony Carson | 19 November, 2009

Geithner gets roasted

Treasury Secretary Timothy Geithner has long been seen to be a Wall Street insider and more a part of the financial problems in the US than a solution to them. But that perception was never as loudly amplified as it was today.

This, from Shahien Nasiripour’s post at Huffington, the video is there:

A heated exchange erupted on Capitol Hill today as Treasury Secretary Timothy Geithner was explicitly asked to resign.

The ranking House Republican on the Joint Economic Committee, Kevin Brady of Texas, ticked off a litany of economic concerns and perceived economic failures, adding that there’s a “growing liberal consensus” that Geithner has failed as Treasury Secretary, and that “conservatives agree that as the point person on the economy, you’ve failed,” before he asked Geithner: “Will you step down from your post?”

Geithner defended his track record, declined to step down, and added, “I agree with almost nothing of what you said… and almost nothing of what you said regarding the economy is accurate.”

Geithner went on to say, reports The Hill:

“Again, it’s just a basic fact: A year ago, this economy was falling at the rate of 6 percent a year. We were losing between half a million and three-quarters of a million jobs a month,” he added, noting those numbers changed direction when President Barack Obama took office.

Brady quickly responded:

“Mr. Secretary, the public has lost all confidence in your ability to do your job. Conservatives agree… liberals agree… it is time for a fresh start.” He added that Geithner’s failure was beginning “to reflect on your president.”

To which Geithner shot back, “If you look at any measure of confidence… it is substantially stronger today [than when the President took office].”

“Tell all of that to the millions of American who no longer have jobs because of your decisions,” Brady said. “At some point you have to take some responsibility for your decisions.”

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