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Tuesday, March 24, 2009

Geithner: The Voice Of Arrogance

OK, a few minutes ago there was a video up of Geitner's testamony before congress about his latest plan.

He was asked by Rep, Gresham Berrett, if he had any backup plan to fall on if this scheme should fail.

He replied that the plan basically couldn't fail and that all that was required was to have "faith and confidence" and keep on pushing. Does anyone around here see parallels to George Bush's policy in Iraq or the early days of the Vietnam War?

The general gist of his statement is that now the government has all these powers, to tax, spend, guarantee assets, print money and lie at will. It has powers that transend the constitution and market forces so nothing can go wrong.

However, even Geitner's boss, Obama admitted that there was a limit to what the treasury could spend. John Galt is watching.

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