Geithner Talks To Jim Lehrer Like A 10 Year Old: On A Potential Deficit Deal: 'We're Closer Than People Think'

PBS Video - Tonight's News Hour - President Obama spelled out his plan Wednesday for cutting the deficit by $4 trillion over 12 years. Treasury Secretary Timothy Geithner speaks with Jim Lehrer about the president's budget goals and the likelihood of getting cooperation from congressional Republicans.

Complete transcript at PBS

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(Reuters) - Treasury Secretary Tim Geithner said Wednesday that Congress will allow the country to borrow more by agreeing to increase the $14.3 trillion debt limit.

"Congress will pass an increase in the debt limit," Geithner told PBS Newshour.

Read more from Reuters...

Comments

[john]

@DB, I just caught this from AP but wonder if this is another GE punk stunt... If not this is serious stuff.


Gov't orders 14 lenders to reimburse homeowners

http://news.yahoo.com/s/ap/20110413/ap_on_bi_ge/us_foreclosure_reimbursed

[snip]

By DEREK KRAVITZ, AP Real Estate Writer Derek Kravitz, Ap Real Estate Writer – Wed Apr 13, 5:10 pm ET

WASHINGTON – The federal government on Wednesday ordered 16 of the nation's largest mortgage lenders and servicers to reimburse homeowners who were improperly foreclosed upon.

Government regulators also directed the financial firms to hire auditors to determine how many homeowners could have avoided foreclosure in 2009 and 2010.

Citibank, Bank of America, JPMorgan Chase and Wells Fargo, the nation's four largest banks, were among the financial firms cited in the joint report by the Federal Reserve, Office of Thrift Supervision and Office of the Comptroller of the Currency.

The Fed said it believed financial penalties were "appropriate" and that it planned to levy fines in the future. All three regulators said they would review the foreclosure audits. Under the agreements reached, the lenders and servicers have 45 days to hire an auditor and will "remediate all financial injury to borrowers caused by any errors, misrepresentations, or other deficiencies." There is no minimum or maximum dollar amount identified.

[john]

It looks real...

http://stopforeclosurefraud.com/2011/04/13/banks-must-pay-victims-of-botched-foreclosures-regulators-say-why-arent-courts-ordering-this/

[DailyBail]

nice finds john...i'm guessing the totals will be less than the $20 billion from the state AGs....

[DailyBail]

IMF Releases Global Financial Stability Report, Sees $3.6 Trillion In Bank Maturities Over Next Two Years

http://www.zerohedge.com/article/imf-releases-global-financial-stability-report-sees-36-trillion-bank-maturities-over-next-tw

[Dr. Pitchfork]

AB on Obama: "watching him makes me throw up in my mouth and feel dumber for it every time."

I say ditto re Geithner. Plus, there's that sudden urge to break things. Like legs.

[LiberatedCitizen]

That budget deal wait until people see this

$38 Billion In Cuts? Make That $353 Million

http://www.zerohedge.com/article/38-billion-cuts-make-353-million

[Morton]

Around the 4 minute point Guitner seems to say that the poor disabled and the elderly have asked the Fed/government to go out and borrow money to help them survive...

Oh silly me. I was under the impression that the US is Trillions of dollars in debt because the rich do not wish to pay higher taxes on their millions/billions.

Thank you Mr Guitner for pointing us all in the rich direction. It is the fault of the poor and the elderly and the disabled. Not Wall Street.
It is not the fault of the banks or their lobbyists or Washington?

10:07 seconds of interview.
Elderly tick
Disabled tick
Poor tick
Health care tick
Seniors tick.

Wall street?
Corporate off shoring of profits?
Military industrial complex?
Corporate tax evasion?

Hmmm those seem to have got missed in the discussion about a balanced budget.

If the revolution will be televised, how much will they charge for adverts during the commercial breaks?

Is is the poor the elderly and the disabled.

[bo2]

This pathetic smirking Goldman spunk is getting unpopular each time he opens his slit. I see the direction down as far as he is concerned.

[john]

@Dr. P.... nice job!

http://market-ticker.org/akcs-www?post=184188