By J.C. Arenas,American Thinker
Geithner was supposed to save the day? You be the judge?
Timothy Geithner was portrayed as the indispensable man,but now no matter how much the media continue to flack for him,he’s still kissing the floor.
The Treasury Secretary aimed to cure the ills of the financial system by extracting toxic assets from bank balance sheets,replenishing the banks’capital resources,and bolstering the housing market to prevent further foreclosures so normal lending could resume.
Let us take a look at what he has “accomplished”thus far.
First,following a controversial vetting process and uninspiring beginning of his tenure,the Treasury Secretary finally struck fools gold after he utilized remnants of Henry Paulson’s plans and created the Public-Private Investment Program to remove banks’toxic assets. The Dow rose,calls for his resignation ceased,and Newsweek immediately declared “Geithner Hits His Stride”.