Bailout News Video: Gentle Jim Rogers Brings The Asian Pain in Bloomberg Public Beatdown of Treasury Knob Geithner. Rogers Goes Old-School with Texas Pile Driver.
Video - Jim Rogers on Tim Geithner's failures...
- "Mr. Geithner's been bombing for 15 years. Mr. Geithner casused this problem. You know Mr. Geithner has been head of the New York Fed for several years. That was the office that was supposed to be supervising Wall Street and the banking system. He caused the problem, and then all last year he came up with TARP. He came up with all these absurd bailouts. Listen Mr. Geithner has never known what he's doing. He doesn't know what he's doing now and pretty soon everybody's gonna find out, including mr. Obama."
Jim Rogers is f'ing hilarious. I've watched him for 15 years and remember his CNBC chronicled investing globe-trot with the puffed-up, bright lemon Mercedes thing. He settled in Hong Kong or Singapore with his young wife and generally delivers the pain via satelite on Bloomberg or occasionally CNBC. I hope he stays around for 30 more years wreaking havoc every step of the way. Gentle Jim, en fuego.
From the Rogers video - on the newest bailout plan:
The politicians are making it worse, not better, and you know why they're making it worse? They want to support their friends on Wall Street and the bankers so they can all keep their Maseratis or their Ferrari's or whatever they're driving.
On what he wanted to hear yesterday:
I'd love for Mr. Geithner to say, "Listen guys, we've got serious problems" ... Mr. Obama could have said, "We've got a horrible problem. We've got to make up for a lot of excesses that have taken place over the last ten years. Some people are going to suffer. We have umbrellas, we have safety nets, we will do our best to help all of you who get affected by this, but it's going to be tough for a couple of years. Don't worry, America will come out of this in the end if we increase our savings, if we increase our investment, everything will be fine."
But, instead what they came out and said was, "Look, we have a horrible problem of too much debt and too much consumption and too much borrowing. You know what we're going to do? We're going to borrow more and go deeper into debt and consume more."
Feb 11, 2009 at 5:17 PM
Reader Comments (8)
Jim Rogers should move home and run for office.
Obvious but quite stark.
Geithner's in over his head. He was asleep at the wheel while head of the NY Fed, so, I know! Let's give him a promotion! Charlie Gasparino predicts Tiny Tim will be out at Treasury and Jamie Dimon (JP Morgan Chase) will be in.
http://www.thedailybeast.com/blogs-and-stories/2010-01-03/5-economic-predictions-to-bank-on/?cid=hp:originalslist4
DB - when are we gonna see Daily Bail apparel? Print up a t-shirt and I'll buy it! By the way, Bobby F and I want to take you out for a beer.
dimon has a hit list...BAC might be in trouble...