Obama introduced us the treasury secretary Timothy Geithner as our economic savior. He was the guy. Yep, he couldn't figure out his taxes or he was an outright tax-cheat but there was nobody smarter than Timothy Geithner to prevent the financial catastrophe we were facing. We needed this guy.
Our phony media just didn't bother to find out who this guy is. They just took the talking points from Obama and ran with it. So we need to go to foreign press to find the truth about Timothy Geithner.
Obama's economic saviour savaged as Keating lets rip - The Sydney Morning Herald
If anyone in the US media had thought to ask a former Australian prime minister for his assessment, they would have heard a different view. And they would not have been so surprised at Geithner's performance since.
In a speech to a closed gathering at the Lowy Institute in Sydney on Thursday, Paul Keating gave a starkly different account of Geithner's record in handling the Asian crisis: "Tim Geithner was the Treasury line officer who wrote the IMF [International Monetary Fund] program for Indonesia in 1997-98, which was to apply current account solutions to a capital account crisis."
In other words, Geithner fundamentally misdiagnosed the problem. And his misdiagnosis led to a dreadfully wrong prescription.
Well, no one in US media is interested in knowing anything about Obama and his associates. They are way beyond cheer leading for the first black president. They are the "Ministry of Truth".
Keating continued: "Soeharto's government delivered 21 years of 7 per cent compound growth. It takes a gigantic fool to mess that up. But the IMF messed it up. The end result was the biggest fall in GDP in the 20th century. That dubious distinction went to Indonesia. And, of course, Soeharto lost power."
Exactly who was the "gigantic fool"? It was, obviously, the man who wrote the program, Geithner, although Keating is prepared to put the then managing director of the IMF, the Frenchman Michel Camdessus, in the same category.
"GIGANTIC FOOL" that's what this former Australian prime minister calls Obama's economic savior treasury secretary Tim Geithner. The SUPREME IDIOT picked a GIGANTIC FOOL to fool around with our economy. We have a guy with a proven record of wrecking Indonesia's economy in charge of our economy. This GIGANTIC FOOL is asking for more power to F@#$ up our economy.
Keating went on to argue that, by frightening the Chinese into building their vast $US2 trillion foreign reserves, Geithner was responsible for the build-up of tremendous imbalance in the world financial system. This imbalance, in turn, according to Keating, contributed to the global financial crisis which has since devastated the world economy.
WTF? We have Barney Frank and Chris Dodd who are directly responsible for creating the mortgage and financial mess in charge of fixing it while blaming everyone else. We have the GIGANTIC FOOL Timothy Geithner who is responsible for the global financial crisis in charge of fixing it... This is surreal folks. Have we lost our minds? What the hell has gone wrong with us?