Thursday, May 21, 2009

Geithner Speaks - Markets Fall

Is the Dollar doomed with our current Treasury Secretary unable to realize the necessity to start controlling the runaway train wreck known as the US printing press. Isn't it time to begin the collection and retirement of TARP monies?

Today Geithner met with legislators and stated the following:

Geithner added that the way the bailout was designed, for each $1 that is paid back, $1 can be lent back out. "So it's your understanding that you have $700 billion to use permanently as you see fit?" DeMint asked incredulously. Geithner wouldn't take the bait. "I'm not quite sure 'permanently' is right," he said.

This is outrageous. It's no wonder our dollar is tanking and the stock market is so incredibly volatile. What is Geithner thinking?

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