Democrat Congressman Peter DeFazio (Oregon) told MSNBC that America needs a new economic team. Even Chuck Schumer says "the world economy is at stake" Congressmen Kevin Brady (R-TX), Sam Brownback (R-KS), and Michael Burgess (R-TX) actually spoke the minds of the American people. See video below.
Rep. DeFazio appeared on The Edge and was asked:
Should he [Geithner] stay in his job, Congressman?Rep. Kevin Brady to Tim Geithner:
[DeFazio] No. We need a new economic team that cares more about jobs, Main Street and the American people, than it does about Wall Street and about huge bonuses.
"for the sake of our jobs will you step down from your post?" "This is your budget, your bailout, your act."Geitner's only answer was a haughty "I agree with almost nothing you said."
After Geithner blamed Bush for an "economy falling off the cliff, Brady asked:
Remind me Mr. Secretary, what post were you holding when President Bush left office?Rep. Michael Burgess:
Geithner: I was the president of the Federal Reserve in New York.
I don't think you should be fired, I thought you should have never been hired.Republicans, especially when appearing on C-SPAN, as they did here, should be talking about what brought the economy down, just a mere two months before the election. Barney Frank, Chris Dodd and Maxine Waters should be mentioned in every conversation about the economy. We should be relentless in pointing out that, without the housing bust, brought on by Frank, Dodd and Waters, the American people and Wall Street would not be in the middle of the struggle we have today. A reminder:
Barney Franks - recipient of $40,000 from Fannie Mae since 1989: Allegedly sleeping with head of Fannie Mae, Herb Moses, probably didn't have a thing to do with his complicity in the failure of housing. Right? Franks stood on the the floor of the House and railed against all Bush proposals to rein-in the wobbly companies.The Community Re-Investment Act - the legislation that allows those with no credit and no money to buy homes they cannot afford, has bankrupted Fannie Mae and Freddie Mac, and so Franks and Dodd just moved the program to the FHA. Coming up next: a bankrupt FHA.
Franks said the problems of Fannie Mae and Freddie Mac were "exaggerated, and five years later, the "problem" was estimated to be in the hundreds of billions.
Let's talk about Maxine Waters - not as guilty as Barney Frank...she is simply one foolish woman, but you can bet her constituents received the Community Reinvestment Loans, and you can bet some couldn't afford them, and you can bet that she was well aware of the situation. See Barney and Maxine here.
Maybe you haven't thought of the criminal actions of Mary Schapiro, appointed by President Bush, the former head of the Financial Industry Regulatory Authority who did not regulate, even when she had a whistleblower turning blue in the face from blowing the darn thing. What did Obama do, he promoted her - all the way to the Security and Exchange Commission (SEC) Chief. J.C., Obama promoted her!!! All that regulating she was paid very big money to exercise, was over the SEC. You can read more on this here, and see an excellent video about the obscenities committed by "oversight."
Senator Chris Dodd: The Chairman of the Senate Banking Committee postured and puffed...and he is the biggest recipient of campaign monies from Fannie Mae and Freddie Mac, (and the second largest recipient of AIG donations, not to mention his wife's AIG Board of Directors income.
At this moment, the Senate and the House are in the middle of a giant cover-up for Dodd, who raise a campaign buck in his own home town.
When I think of Geithner stepping down, I have to ask who would follow him. This president and this administration have one goal. Break the country then control it for life. I applaud these men who spoke boldly: Reps. DeFazio, Brady, and Burgess.
Related: Tracking the Mess of Fannie and Freddie