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Obama Picks New York Fed Chief to Lead Treasury
David Cho, Lori Montgomery and Shailagh Murray
Washington Post
Saturday, Nov 22, 2008
FLASHBACK: Obama’s Treasury Candidates: Old Guard Of The Corporate Elite
President-elect Barack Obama has selected New York Federal Reserve Bank President Timothy F. Geithner as Treasury secretary, handing the post to a primary architect of the Bush administration’s response to the financial crisis, according to Democratic and industry officials yesterday.
At 47, he is the same age as Obama and would represent a generational change in the highest levels of Washington economic policymaking, heading a remarkably young team of White House economic advisers tasked with sorting out one of the worst financial messes since the Great Depression.
A Democrat and a relative unknown outside the world of high finance, Geithner has worked closely with Treasury Secretary Henry M. Paulson Jr. to devise responses to the most critical events of the market turmoil, including the bailouts of the investment bank Bear Stearns and the insurance giant American International Group. Like Paulson, Geithner believes that the Treasury should be given vast powers to develop experimental strategies for responding to the crisis and the flexibility to abandon them if they don’t work.
Geithner’s mentor is Lawrence H. Summers, 53, a Treasury secretary during the Clinton administration who also was in the running for the job. Summers instead will go to the White House and serve as a senior economic adviser to Obama, according to a senior Democratic official familiar with the matter. Meanwhile, Obama is seriously considering a former opponent in the primary campaign, New Mexico Gov. Bill Richardson, to head the Commerce Department, according to the official.
(ARTICLE CONTINUES BELOW)
Joining Summers in the White House would be Jason Furman, 38, as a top economic adviser; Peter R. Orszag, 39, as White House budget director; and Austan Goolsbee, 39, on the president’s Council of Economic Advisers, sources familiar with the matter said.
The rollout of the economic team is expected to take place in Chicago on Monday, according to a transition source who spoke on condition of anonymity because the announcements have not been made yet. As for the timing, this source said, “Everything has been accelerated on the economic front because of the news of the last few months” but not in reaction to any specific market trends this week.
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30 Responses to “Obama Picks New York Fed Chief to Lead Treasury”
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November 22nd, 2008 at 4:33 am
Who Was Henry George?
by Agnes George de Mille
“We have reached the deplorable circumstance where in large measure a very powerful few are in possession of the earth’s resources, the land and its riches and all the franchises and other privileges that yield a return. These positions are maintained virtually without taxation; they are immune to the demands made on others. The very poor, who have nothing, are the object of compulsory charity. And the rest — the workers, the middle-class, the backbone of the country — are made to support the lot by their labor.”
“We are taxed at every point of our lives, on everything we earn, on everything we save, on much that we inherit, on much that we buy at every stage of the manufacture and on the final purchase. The taxes are punishing, crippling, demoralizing. Also they are, to a great extent, unnecessary.” http://www.henrygeorgeschool.org/whowashg.htm
November 22nd, 2008 at 5:39 am
It’s just a formality. The NY Fed already runs the treasury.
November 22nd, 2008 at 5:46 am
alex this is the begining of the nwo isnt it
November 22nd, 2008 at 5:47 am
“experimental srategies” and “the power to abandon”===NO GUN NEEDED===Michael Says: you got that right-one of these days i will not have to worry with it no more-that will be the day i die-but my family and frieds will-i hope they squeze america so hard that the countries people go into total revolt-if we were to get our country back,we best hope we dont put a bunch of crooks in the captains chair-we need to deport and execute all the scum in our world-put special ops on a just mission-those slite bastards have survived off the general population way too long-through out history,in the end-they all fall
November 22nd, 2008 at 6:22 am
Geithner was primary architect for the bail out…and now he is the Treasury Sec.?
Well if money had Wings before…under this goon…MONEY WILL HAVE A ROCKET BOOSTER… …as all our cash flies into Space……..!
November 22nd, 2008 at 7:18 am
Biography
Geithner was born in Brooklyn, New York City, to Mr. and Mrs. Peter F. Geithner of Larchmont, New York. He completed high school at International School Bangkok, Thailand,[2] and then attended Dartmouth College, graduating with a B.A. in government and Asian studies in 1983. After, he obtained an M.A. in International Economics and East Asian Studies from Johns Hopkins University’s School of Advanced International Studies in 1985.[3] He has studied Japanese and Chinese and has lived in East Africa, India, Thailand, China, and Japan.[citation needed]
He married Dartmouth classmate Carole M. Sonnenfeld; they have two children, Elise and Benjamin.[4] In spare time he fly-fishes, plays tennis and surfs.[5]
After completing his studies, Geithner worked for Kissinger and Associates in Washington, D.C., for three years and then joined the International Affairs division of the U.S. Treasury Department in 1988. He was deputy assistant secretary for international monetary and financial policy (1995-1996), senior deputy assistant secretary for international affairs (1996-1997), assistant secretary for international affairs (1997-1998). [3]
He was Under Secretary of the Treasury for International Affairs (1998-2001) under Treasury Secretaries Robert Rubin and Lawrence Summers.[3]
In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department.[citation needed] At the International Monetary Fund he was director of the Policy Development and Review Department (2001-2003).[3]
In October 2003, he was named president of the Federal Reserve Bank of New York.[6] Once there, he became Vice Chairman of the Federal Open Market Committee component of the Fed. In 2006, he also became a member of the influential Washington-based financial advisory body, the Group of Thirty.[citation needed] In March 2008, he arranged the rescue and sale of Bear Stearns.[7]
On November 21, 2008, it was reported President-elect Barack Obama will nominate Geithner to be Treasury Secretary.[8]
WOW!!! The IMF and all other sorts of higher end banking cartels, this is very bad news, gotta love when they put in some tool that they have trained from the ground up!!! This is not gonna be good for the economy. This gready bastards will line their own pockets.
November 22nd, 2008 at 7:50 am
this guy is super dooper CFR affiliated and part of the Kissinger clan. Great. Real fuckin change. Were screwed.
November 22nd, 2008 at 8:41 am
NORTH EAST INTELLIGENCE NETWORK
Kenyan Ambassador Peter Ogego just annouced to the whole world on live radio that our assumed President-elect Barack Hussein Obama was born in Kenya, his birthplace is already an attraction, and placing a marker is up to the Kenyan government, but the location is already well known, intimating the the location does not need anything further to distinguish it.
This admission is a confirmation of the multiple statements made by Obama’s paternal grandmother, referenced by Ambassador Ogego, about Obama’s Kenyan birthplace.
http://www.theneinblog.blogspot.com/
VOID ELECTION anyone ?
GWB TO STAY IN POWER ?
November 22nd, 2008 at 10:13 am
C.H.A.N.G.E.: Criminals Helping to Accelerate the Nazi Global Empire
November 22nd, 2008 at 11:12 am
Change for the worse I think. Not that your votes had anything to do with it.
November 22nd, 2008 at 11:20 am
HEY LET SOMEONE KNOW AT THE FED RALLY TO FIX HOUSTON SOUND!
November 22nd, 2008 at 12:11 pm
All these crooks and Clinton stooges are ominous. So is Obama’s cherished goal of upping the ante in Afghanistan where no foreigners except the Mongols have ever had much success.
November 22nd, 2008 at 12:12 pm
http://nesara.org/main/index.htm
November 22nd, 2008 at 12:12 pm
Obama’s answer to END THE FED.
November 22nd, 2008 at 12:37 pm
I like Borats take on this one “Throw the Jew down the well… So my country can be free…” You gotta admit that was a pretty catchy tune lol
November 22nd, 2008 at 1:32 pm
C.H.A.N.Z.E.
Continue to Have Anti-AmericaN Zionists Empowered
No surprise here.
November 22nd, 2008 at 1:50 pm
Why not put Ron Paul in charge of the Treasury?
November 22nd, 2008 at 2:24 pm
Looks like we are entering a new phase of the same old rat race.
November 22nd, 2008 at 2:27 pm
Hmmmmm, birds of a feather flocking together and all that…Geeeeeez!
(click my name for music that matters)
November 22nd, 2008 at 3:07 pm
Someone needs to organize a new ’sons of liberty’ to infiltrate and remove these Rockefeller and Rothschild types. Unless we remove them from the planet this will continue. NOW please
November 22nd, 2008 at 4:58 pm
I can’t figure out why all of you are spastic and shocked by this! Any government that has ever been is nothing more than a good ole’ boys club. ( token females sometimes) Everything in life is cyclical, what goes up must come down. We are now into a downward cycle that will be very painful. We above all people, because we are the truly englightened ones who know the one true God and have been warned, should have been preparing for what’s ahead. Websites like Alex’s and others have been screaming to prepare and warning us for a very long time. The time is now here. May God help us all!
November 22nd, 2008 at 5:51 pm
The jewish thing is pretty insulting to ones intelligence. I mean they are really a tiny fraction of the population, however they are in a vast majority of influential positions in every financial, media, political, education, medical, science, and law related entity. If it was simply a matter of them being hard working, or talented it would be one thing. But it is mainly due to there ethnocentricity, and tribal world view. And once ones eyes are opened to it, it becomes absurd, and it is insulting.
November 22nd, 2008 at 6:50 pm
http://www.236.com/video/2008/....._10121.php
November 22nd, 2008 at 7:40 pm
Change? If this does not open peoples eyes to the fact nothing has changed then……????? What will?
The future is bleak folks. Hard times before the rebirth!
November 22nd, 2008 at 9:02 pm
This man scares me more then any other OBAMA cabinet pick even more then Hellery herself the fact that an actual Federal Reserve Bank President of New York a man nursed as a youngster by Kissinger himself will be the treasurer wow we are heading into hell itself. This should scare the heaven out of you! They are accelerating their plan and getting bolder about it and very arrogant. They don’t care anymore that we know who they are and what they are up to. God help us in the future! America will soon be a third world country Just as it was prophesied by great men like Thomas Jefferson who said that if we would give our monetary system over to these Ivy League Punks that our children would be homeless in the Land that our fathers conquered. Soon they will control all the purse strings! Ladies And Gentlemen welcome to Socialized controlled Banking! The entire Banking mess is a consolidation of the big boys and the destruction of private banks! The same Private Banks that actually helped build this country instead are being destroyed by these Global Elites that take 700 Billion and smirk and do what they want without anyone having a say at all. Paulson is so arrogant and Bernanky at that hearing it just turned my stomach. These people have no soul, no pity, no compassion, their hearts are full of evil against everything that we love. Its time we realize it! I also thought it was very interesting that not once do they ever mention the struggling hard working people in this country they talk like they don’t give a shit because they don’t!
November 22nd, 2008 at 10:07 pm
Please give the religious zealots what they want….Their mind pattern is of doom and phophesy…Fulfill their rapture for the alien nation so the rest can do battle without interference…Take all Christian mind less humans for food ..Blood is power is that what is taught in religion….There is power in the Blood…Maybe your God but not mine…
Please God-Mind Take them away and let the real battle begin….Only when Love and Freedom is all …They have no clue but to war and mindless religion…..I ask for the RAPTURE to come to purge all of these mindless controlled cult religious fanactics…Give them whaT THEY WANT AND LEAVE ME OUT OF IT…….i PREPARE NOT FOR God but for mans assault…upon this evil nation…I AM WOMAN AND LOVE ALL MY FELLOW man and supplies and medicine for the upcoming battle….mAKE WAY FOR THE REAL WARRIORS IN THIS LIFE BECAUSE THE CHRISTIANS JUST WANT TO LAY DOWN AND dIE…nOT ME iLL FIGHT BY THE MEN TILL DEATH….tRUTH UP..
November 22nd, 2008 at 10:43 pm
G-20 Summit: Bush ignored by other presidents [Official Photo] watch video here:
http://www.cherada.com/articul.....cial-photo
November 22nd, 2008 at 10:54 pm
To all other posters, the person that posted as “Obama will take your guns!” direct you to a harmful website that tries to download an Internet Add-on without your permission, should this happen to any of you in the future, do not click on anything when the popup appears, simply hit Control Alt Delete and go to Task Manager and end task, I would then recommend running a free downloadable program called Cleanup, and another called Hijack this, then go to your explorer properties and take a close look at all Add-on’s, if they are not verifiable or certified then disable them… I would highly recommend that Prison Planet delete links to harmful sites like this, and to the person that posted it, I hope you choke on a Donkey Dick you Frickin Bastard!
November 23rd, 2008 at 8:51 am
That is very interesting about the jewish presence ,Zionist world order.What is your thought on this issue.My research has shown a strong jewish presence in the european central banking circles as well.I state that this is not a anti semetic statement only an interesting obsevation of the facts.
November 23rd, 2008 at 8:53 am
For anybody who is interested, here is the list of attending members on Bilderbergs list, you’ll see such actors a Paulson, Bernanke, the new douche that obama is putting in, and a whole assortement of colorfull characters
http://newsworldwide.wordpress.....y-country/