Author Topic: Geitner: US could fire bank CEOs  (Read 1757 times)

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Geitner: US could fire bank CEOs
« on: April 01, 2009, 11:04:09 PM »
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner said on Wednesday he would consider forcing out chief executives of banks that receive government bailouts if they were not managing their businesses properly.

In an interview with CBS, Geithner said economic recovery depends on a financial system that effectively provides credit, and the government would hold companies receiving public aid accountable.

When asked whether he left open the option to pressure a bank CEO to resign, Geithner responded, "Of course. Of course."

The comment came just days after the chief executive of General Motors Corp was ousted at the request of President Barack Obama's auto task force.

The White House has been trying to strike the right balance between salvaging firms that are vital to the economy and acknowledging taxpayer resentment over a series of increasingly costly bailouts.


Bindare_Dundat

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Re: Geitner: US could fire bank CEOs
« Reply #1 on: April 01, 2009, 11:58:50 PM »
I have faith in government. Isn't the national debt just about paid off?

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Re: Geitner: US could fire bank CEOs
« Reply #2 on: April 02, 2009, 06:33:49 AM »
Its not like they are planning to triple our national debt in the next 10 years.  How unbelievably irresponsible!
Congress is falling over themselves spending our money right now.  Moderate democrats must join conservative republicans in checking the massive left wing movements of cogress.

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Re: Geitner: US could fire bank CEOs
« Reply #3 on: April 02, 2009, 06:35:40 AM »
I have faith in government. Isn't the national debt just about paid off?

And havent they done wonders with social security,medicare,medicaid,the post office,the debt[like you noted],the housing market crash that was caused by the community reinvestment act.Yes,sir,the government is the answer.How about firing a few congressman like Barney Frank,or Chris Dodd.That would help a hell of a lot more then firing a CEO ,perhaps if they want to fire people who benefitted from government bailouts they should fire the head of the UAW.

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Re: Geitner: US could fire bank CEOs
« Reply #4 on: April 02, 2009, 07:35:55 AM »
I can't believe how some of you guys actually defend these bank CEO's.

What's up with that?
As empty as paradise

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Re: Geitner: US could fire bank CEOs
« Reply #5 on: April 02, 2009, 07:38:26 AM »
I can't believe how some of you guys actually defend these bank CEO's.

What's up with that?

they;'re anti-obama.

if obama condemned hitler, they'd find 5 things about hitler they liked.

tonymctones

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Re: Geitner: US could fire bank CEOs
« Reply #6 on: April 02, 2009, 07:46:43 AM »
I can't believe how some of you guys actually defend these bank CEO's.

What's up with that?
missing the forest for the trees, ppl are saying they dont want government in charge.

they;'re anti-obama.

if obama condemned hitler, they'd find 5 things about hitler they liked.
LOL you should talk, obama butt plug is what you are.

George Whorewell

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Re: Geitner: US could fire bank CEOs
« Reply #7 on: April 02, 2009, 07:59:04 AM »
I wonder if Congress and the Senate would react well to being fired by another governmental department above them if it was determined they were doing a bad job. I also wonder if our government would allow the PUBLIC or another governmental department to determine their salaries. After all,the government is just as culpable as the CEO's and the irresponsible borrowers in this mess. Meanwhile, what will the measuring stick be? Who will determine what's what? I suppose our brilliant government. Its not about defending the CEO's hedge. Its about being nauseous over allowing the morons who helped get us into this mess spend our tax money to bailout failing businesses, and then using the excuse that because they used OUR money ( there is no such thing as government money, where do you think it comes from?) they can put a strangle hold on Free Enterprise for OUR own good. Talk about a power grab- its more like an anal fisting. This is worse than the mafia. 

Who is watching the watchers? Nobody. What we have here is guaranteed failure.

Bindare_Dundat

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Re: Geitner: US could fire bank CEOs
« Reply #8 on: April 02, 2009, 08:00:44 AM »
I can't believe how some of you guys actually defend these bank CEO's.

What's up with that?

No one is defending these CEO's

Bindare_Dundat

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Re: Geitner: US could fire bank CEOs
« Reply #9 on: April 02, 2009, 08:03:26 AM »
missing the forest for the trees, ppl are saying they dont want government in charge.
LOL you should talk, obama butt plug is what you are.

Whta does it mean when 240 has to use the worst examples of past leaders actions to use as a marker of success for Obama?

George Whorewell

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Re: Geitner: US could fire bank CEOs
« Reply #10 on: April 02, 2009, 08:06:23 AM »
PS- How the fuck is someone who has never so much as run a Taco Stand like Geitner, going to now determine what constitutes "running a business properly?" So far we have a Congress who can't find its ass with both hands, a sickeningly corrupt and incompetent senate, a President who so far has looked like a fish out of water and a treasury secretary that looks like he couldn't solve a simple alebra equation let alone figure out how to save the countries economy.

I am so sick and tired of this administrations cocktail of arrogance and inexperience. I would feel a lot better if the individual who is supposed to provide oversight actually ran a successful business before.

Decker

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Re: Geitner: US could fire bank CEOs
« Reply #11 on: April 02, 2009, 08:07:12 AM »
I can't believe how some of you guys actually defend these bank CEO's.

What's up with that?
The age old question.

For the most part, the republican party of the las 29 years has worked to shift the burden of gov. funding to the middle class and lower class while simultaneously removing the burden of taxes and accountability from the financial elites.  Destroy unions, social security, regulations of any sort that require accountability/transparency of the financial elites.  Then to bring it all together, they demonize government itself and play up quasi-libertarian fantasies mythologizing the rugged individual.

Republican governmental officials tell us that government is the problem.

Small government is paramount.  So these republicans enlarge gov. more than LBJ did.

These same republicans take advantage of gov. contracts to get rich and stay rich while telling us of the virtues of rugged individualism and the free market.

Parts of these mixed messages appeal to the lower and middle class resulting in a paralyzing of the ability to grasp intellectually/analytically the polar opposites in those messages.  So even though the legislative efforts of the republicans undercut the economic well-being of these classes of people, they still support them to their own detriment.

These people find themselves in the position of defending the very people that have damaged them and the country.

Decker

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Re: Geitner: US could fire bank CEOs
« Reply #12 on: April 02, 2009, 08:13:06 AM »
PS- How the fuck is someone who has never so much as run a Taco Stand like Geitner, going to now determine what constitutes "running a business properly?" So far we have a Congress who can't find its ass with both hands, a sickeningly corrupt and incompetent senate, a President who so far has looked like a fish out of water and a treasury secretary that looks like he couldn't solve a simple alebra equation let alone figure out how to save the countries economy.

I am so sick and tired of this administrations cocktail of arrogance and inexperience. I would feel a lot better if the individual who is supposed to provide oversight actually ran a successful business before.
It's not arrogance.  The horrid and criminal executive mismanagement of these companies accepting bailout monies cannot be allowed to continue.

If these incompetent/criminal corporate swine are the best that the Private Market has to offer, then the Private Market is a problem.

Obama and his people are grabbing the bull by the balls and kicking these punks out of school.


Bindare_Dundat

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Re: Geitner: US could fire bank CEOs
« Reply #13 on: April 02, 2009, 08:20:47 AM »
It's not arrogance.  The horrid and criminal executive mismanagement of these companies accepting bailout monies cannot be allowed to continue.

If these incompetent/criminal corporate swine are the best that the Private Market has to offer, then the Private Market is a problem.





I don't disagree with you much on this point but I think you are wrong to believe there  is a major difference between the incompetent/criminal corporate swine and todays government. One group has infiltrated the other to the point where I believe there is little difference between the two.

BayGBM

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Re: Geitner: US could fire bank CEOs
« Reply #14 on: April 02, 2009, 08:51:32 AM »
they;'re anti-obama.

if obama condemned hitler, they'd find 5 things about hitler they liked.


They obviously prefer the leadership of Dick Cheney.  ::)



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Re: Geitner: US could fire bank CEOs
« Reply #15 on: April 02, 2009, 08:57:21 AM »
I don't disagree with you much on this point but I think you are wrong to believe there  is a major difference between the incompetent/criminal corporate swine and todays government. One group has infiltrated the other to the point where I believe there is little difference between the two.
Obama did it wrong when he gave unconditioned bailout money to the very people who created this mess.

It still can be fixed if Obama's heart is in it and he does the right thing.

FDR did the right thing.  For his efforts, FDR's plutocratic brethren considered him a traitor to his class.  Obama has to rope in the financial elite which Reagan, Bush the lesser and Clinton unleashed.

If he can do that, he'll go down in history as a great president.  If he can't, then he won't.

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Re: Geitner: US could fire bank CEOs
« Reply #16 on: April 02, 2009, 09:00:19 AM »
I don't disagree with you much on this point but I think you are wrong to believe there  is a major difference between the incompetent/criminal corporate swine and todays government. One group has infiltrated the other to the point where I believe there is little difference between the two.

QFT
I hate the State.

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Re: Geitner: US could fire bank CEOs
« Reply #17 on: April 02, 2009, 09:02:41 AM »
they;'re anti-obama.

if obama condemned hitler, they'd find 5 things about hitler they liked.

And when GW was spending his ass away no gave a rat's ass...
I hate the State.

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Re: Geitner: US could fire bank CEOs
« Reply #18 on: April 02, 2009, 09:06:49 AM »
It's not arrogance.  The horrid and criminal executive mismanagement of these companies accepting bailout monies cannot be allowed to continue.

If these incompetent/criminal corporate swine are the best that the Private Market has to offer, then the Private Market is a problem.

Obama and his people are grabbing the bull by the balls and kicking these punks out of school.



Again,if we are going to start firing people that get government money and do a terrible job,why not start with the very government that is the reason for this mess in the first place?Why isnt Barney Frank and Chris Dodd fired on the spot?

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Re: Geitner: US could fire bank CEOs
« Reply #19 on: April 02, 2009, 09:07:11 AM »
And when GW was spending his ass away no gave a rat's ass...

they said it was good, because we needed a strong military.

Obama's actually increased military spending.  They're upset about it now.

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Re: Geitner: US could fire bank CEOs
« Reply #20 on: April 02, 2009, 09:08:13 AM »
Why isnt Barney Frank and Chris Dodd fired on the spot?

because theie constituents (board members) still support them.  Plus they make all of $250k a year (or whatever congress' salary is).  They aren't earning $40 million to lose $30 billion.

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Re: Geitner: US could fire bank CEOs
« Reply #21 on: April 02, 2009, 09:10:16 AM »
because theie constituents (board members) still support them.  Plus they make all of $250k a year (or whatever congress' salary is).  They aren't earning $40 million to lose $30 billion.

I wish I made 250k a year... :-\
I hate the State.

Decker

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Re: Geitner: US could fire bank CEOs
« Reply #22 on: April 02, 2009, 10:57:40 AM »
Again,if we are going to start firing people that get government money and do a terrible job,why not start with the very government that is the reason for this mess in the first place?Why isnt Barney Frank and Chris Dodd fired on the spot?
Barney Frank, Chris Dodd and Government did not create this depression.  It removed the regulatory safeguards that made it possible.  It was the private Banker/investment managers/mortgage lenders who created this mess.  Same sort of shit that happened in the 1920s.




Hereford

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Re: Geitner: US could fire bank CEOs
« Reply #23 on: April 02, 2009, 11:01:01 AM »
I wish I made 250k a year... :-\

G4P buddy.

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Re: Geitner: US could fire bank CEOs
« Reply #24 on: April 02, 2009, 07:36:45 PM »
they;'re anti-obama.

if obama condemned hitler, they'd find 5 things about hitler they liked.
Hitler was actually a good leader but one with terrible actions.  I would say that in the past 100 years nobody has "led" their country better than Hitler.  By that I mean being able to mobilize a country behind him.
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