Plan due on February 10 now put off until … April

posted at 12:14 pm on March 20, 2009 by Ed Morrissey

Barack Obama promised in his first White House press conference on February 9th that Treasury Secretary Tim Geithner would have a rescue plan ready to announce the next day.  On February 10th, Geithner showed up with nothing but a string of platitudes and a promise that he would have a plan real soon.  The markets tanked as investors realized that the White House had no economic leadership at the top, and the Obama administration pledged to get something quickly.

Time Magazine reports that the plan has been delayed again, and now won’t be ready for another month:

The Administration’s long-awaited plan to save America’s banks is being delayed again, government sources tell Time. Fears of an AIG-like backlash among potential private investors, and the difficulty of creating a model to price toxic assets on the banks’ balance sheets, have both contributed to the delay, the sources say.

The slip is embarrassing for Treasury officials who have been assuring the media and the markets that the plan was coming, first in mid-February, and as recently as March 14 when Treasury Secretary Tim Geithner told Bloomberg TV he would release details soon. A senior Treasury department official says the plan isn’t slipping, but other government officials say it is and could be unveiled anywhere from next week to early April. (Read “Obama’s Challenge: Containing the AIG Bonus Outrage.”)

Facing this latest delay, Administration officials are urging patience and insist they are moving more programs on more fronts faster than anyone has tried to do before. “People want a quick, clean, decisive resolution to this stuff, they want us to just fix it and have it be over with,” says a senior Administration official. “We are moving in a relatively short period of time on a scale that I don’t think you’ve ever seen an Administration do.”

Sorry, but the “math is hard” excuse won’t work here, not for the Barbie Treasury Secretary and not for his Barbie President.  The problem is their constant overpromising and underdelivery.  Obama insisted that Geithner was the only person for the job because of his extensive knowledge of the issues at hand, and that the need to have him hit the ground running outweighed his tax evasions, which would have disqualified any other nominee for any other position. The Senate bought off on that argument, figuring that they needed a whiz who could provide continuity from his predecessor and mentor, Henry Paulson.

Since then, Geithner and Obama have yet to come up with a plan despite serial promises to do so.  It gives the strong impression that Geithner had no idea what he’s doing or what he needs to do.  Geithner has failed to meet a host of responsibilities in the two-plus months he’s been at Treasury, including the basics of staffing the office and his legal duty of conducting Financial Stability Oversight Board meetingsTrillions of dollars are passing through an office that is clearly dysfunctional, clearly floundering, and all the Obama administration can do is keep kicking the deadline down the road.

The Senate needs to take a more active role in determining the problems at Treasury.  Geithner is obviously not uniquely qualified for this job, he’s incompetent at it.  If he can’t meet the legal duties of the office, staff it, and provide a rational plan for the fortunes passing through his hands, let’s get rid of him and find someone more competent to take his place.


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Comments

The Senate needs to take a more active role in determining the problems at Treasury.

Ed, do you really want those preening peacocks meddling in the mess that is the Treasury?
Fox==>Henhouse

common sensineer on March 20, 2009 at 12:52 PM

Oh boy. 17 of 18 Treasury appointments have not been appointed yet. Obama has time for brackets and bowling? WHAT IS THIS GUY DOING!!!!!!!!!!!!!?

marklmail on March 20, 2009 at 12:54 PM

becki51758 on March 20, 2009 at 12:51 PM

Don’t worry, sweetie. There are a bunch of us here. All this mess reminds me of a song: There’s something happening here. What it is ain’t exactly clear.

kingsjester on March 20, 2009 at 12:54 PM

This is a crock.

Did Geithner ask his professor for an extension on his project until after he comes back from his spring break?

WTF?

Dow to 5,000?

BuckeyeSam on March 20, 2009 at 12:54 PM

Ed and HotAir give me confidence that someoneis watching these folks. If Rush can give it widespread coverage, all the better.

Cindy Munford on March 20, 2009 at 12:55 PM

When are people going to figure out that what’s going on right now IS the plan?

Transfer of wealth and power from private ownership to the government. This is the beginning, the middle and the end of the collectivist agenda.

logis on March 20, 2009 at 12:55 PM

It would be far better if Obama just stood aside and said that he is going to let events unfold as they may. At least then the market could make rational, if painful, decisions.

But who is going to move when Team Bammy is liable to do just about any fool thing three weeks down the road?

And after this latest “grabby hands” move by the House of Representatives, you are going to have a hard time getting anybody to cooperate. If a family income of $250K is high enough to trigger a 90% tax rate, you are going to have a hard time finding people to line up to get on that ride.

gridlock2 on March 20, 2009 at 12:55 PM

“We have a plan, or plan to have a plan, to plan planning on planning a plan plan plan plan plan,” -The Indispensable Man.

Akzed on March 20, 2009 at 12:56 PM

Ed, they want to reform healthcare, introduce cap and trade, remake America. This silly little plan is a distraction.

promachus on March 20, 2009 at 12:56 PM

oops…

beck51758 on Mar 20,2009 at 12:51PM.

beck51758: So was I,in 67 i would`ve been 8!Hehe!

canopfor on March 20, 2009 at 12:56 PM

Checking the SiteMeter, if Rush keeps this up, y’all won’t be missing PJTV at all after all!

JamesLee on March 20, 2009 at 12:56 PM

What a sad day it is when the entire world economy is on hold waiting to hear what a moron like Geithner has to say. This is proof that govt. should get out of the market as much as possible. Even if Geithner weren’t an idiot, it is far too much responsibility for one person to have. Nobody is that smart.

echosyst on March 20, 2009 at 12:56 PM

kingsjester on March 20, 2009 at 12:54 PM

I love that song. It continues.. Theres a man with a gun over there. hmm..I forget the rest.

We need to riot like they did in the 60’s. When is that protest bus heading to Washington?

becki51758 on March 20, 2009 at 12:57 PM

Stand by. Barry’s fixing to make remarks about the economy on TV. Watch out for falling stocks.

kingsjester on March 20, 2009 at 12:58 PM

Their problem is that, everytime they talk about what they’re doing / want to do the markets tank.

When they sit back and do nothing the markets get about the job of recovering.

I believe that they are smart enough to have figured this out (eventually) and have now realized that their best plan is to… not have a plan.

“Kick it down the road” is the plan and it’s working well, but they can’t talk about it.

Lord, I hope they’re smart enough to have figured this out.

KCSteve on March 20, 2009 at 12:58 PM

Christian Conservative on March 20, 2009 at 12:52 PM

Pay what? Are they taxing losses now too?

nolapol on March 20, 2009 at 12:59 PM

canopfor on March 20, 2009 at 12:56 PM

I was 9. heh

becki51758 on March 20, 2009 at 12:59 PM

But he’s the only one that can fix this mess right?
That’s what they tell us there is no one smarter then he is to fix this problem. Or maybe he’s holding out so he wont get fired. If he can’t fix this who can.

This is not good. I bet they are waiting to see if his gigantic spending bills gets pushed through. Wait the next doom and gloom speech should be coming soon.

Brat4life on March 20, 2009 at 12:59 PM

What surprises me is that the legions of leakers in government all seem to have disappeared.

Not a one appears to have told much of anyone in the MSM what they think is going on. No juicy scoops, no power struggles, no intra-departmental fighting, no inter-departmental fighting, no anonymous inside sources in a position to know, no obvious personal crabbing, backstabbing …

Nature abhors a vacuum and nobody fills the political vacuum faster than these people. Have the press people all turned off their phones, blackberries, etc?

Dusty on March 20, 2009 at 12:59 PM

You guys remember the outrage when we had trouble tracking the $ in Iraq? You know, in the middle of war, car bombs, etc. our administrators were supposed to keep up with who got how much reconstruction $.

Mebbe we could mirror a little of that “accountability” mindset into this debacle. Couldn’t hurt.

cs89 on March 20, 2009 at 1:00 PM

Tasteless humor alert

Yup, I am going to hell.

Damiano on March 20, 2009 at 1:00 PM

becki51758 on March 20, 2009 at 12:59 PM

Oh, good grief. I was 9 in Dec. ’67.

kingsjester on March 20, 2009 at 1:01 PM

From Thunderclap Newman? c.1969

Call out the instigators because there’s something in the air,
We got to get together sooner or later
because the revolution’s here,
And you know it’s right and you know that it’s right.
We have got to get it together.
We have got to get it together now
We’re together now.

Block off the streets and houses because
there’s something in the air,
[ Find more Lyrics on http://www.mp3lyrics.org/a2W ]
We got to get together sooner or later
‘cos the revolution’s here
And you know it’s right and you know that it’s right
We have got to get it together
We have got to get it together now

Hand out the arms and ammo
We’re gonna blast our way through here
We’ve got to get together sooner or later
becaue the revolutions here
And you know it’s right and you know that it’s right
We have got to get it together
We have got to get it together now
We have got to get it together now
Now, we’re together now, the revolutions here,
It’s here, the revolutions here now.

Akzed on March 20, 2009 at 1:01 PM

The April Fool Recovery

faraway on March 20, 2009 at 1:02 PM

So the economic plan is to be released the same time that Obama’s revision of the terrorist policy is complete? Is there some interconnectedness in the two policies, given that Obama has called AIG suicide bombers and his DHS nominee calls terrorism man made disasters like AIG is a man made disaster?

eaglewingz08 on March 20, 2009 at 1:03 PM

This is gonna KILL the market.

Investors will continue to sit on the sideline because they are unwilling to risk capital when they KNOW the rules are going to change, but not HOW.

I’m more convinced daily that this is a Self Imposed Recession. The Gov started to panic, and said so, so people started to not spend… or hire… or invest… or lend… because they had to protect what assets they had.

A capitalist system, at its basis, is a system whereby you BET your current wealth, on the idea of more future wealth.

But no one will bet if they cannot figure the Risk/Reward chance… and you can’t do that when the Government is going to change the rules, but will not tell you how.

This Administration, and Bush’s, ARE the ones who have brought this upon us.

Its a Self Fulfilling Prophecy.

Romeo13 on March 20, 2009 at 1:04 PM

This is making Katrina look like a tea party. We can rebuild New Orleans, but how do we rebuild the entire U.S. banking system and restore $5 trillion of taxpayer’s money and wealth that have disappeared? Incompetence is too mild a word o describe what is happening here! High crimes and misdemeanors is looking more and more accurate!

rockmom on March 20, 2009 at 1:04 PM

kingsjester on March 20, 2009 at 1:01 PM

Oh my…There are a lot of young’uns on this blog. I fit right in!

becki51758 on March 20, 2009 at 1:05 PM

If he can’t meet the legal duties of the office, staff it, and provide a rational plan for the fortunes passing through his hands, let’s get rid of him and find someone more competent to take his place.

If I performed my former job in Corporate America the way this little hairball is, I would have been FIRED in short order.

tru2tx on March 20, 2009 at 1:05 PM

Hank Paulson is a putz who ought to be in prison. Geithner, though, makes me wish we still had Paulson in office.

innominatus on March 20, 2009 at 1:06 PM

rockmom on March 20, 2009 at 1:04 PM

+100

becki51758 on March 20, 2009 at 1:06 PM

Due to the lateness of the PLAN,the
Crisis has been called off,or untill
the next election!!(Sarc).
canopfor on March 20, 2009 at 12:52 PM

That’s about it, they used the “crisis” for their stimucrap giveaway, now they plan on putting it back in the closet to be removed and dusted off just in time for 2010.

Bishop on March 20, 2009 at 1:06 PM

What surprises me is that the legions of leakers in government all seem to have disappeared.

Not a one appears to have told much of anyone in the MSM what they think is going on. No juicy scoops, no power struggles, no intra-departmental fighting, no inter-departmental fighting, no anonymous inside sources in a position to know, no obvious personal crabbing, backstabbing …

Nature abhors a vacuum and nobody fills the political vacuum faster than these people. Have the press people all turned off their phones, blackberries, etc?

Dusty on March 20, 2009 at 12:59 PM

There’s nobody around to even leak anything to the press! It looks like Neel Kashkari is all by himself trying to just keep his fingers and toes in the dike to keep it from bursting!

UNBELIEVABLE.

rockmom on March 20, 2009 at 1:07 PM

Investors will continue to sit on the sideline because they are unwilling to risk capital when they KNOW the rules are going to change, but not HOW.

Yep, uncertainty is the biggest market killer…bigger than tax hikes, ect. Nobody will invest capital until they know the rules of the game.

Why would a company take bailout money if they can get hauled into a show court like they did to that aig guy when it was the dems that voted for the bonuses not the AIG who was only doing his duty and obligation.

and the TOTUS is on Leno trying be hip and cool making an ass out of himself and the country and succeeding.

The Wall on March 20, 2009 at 1:07 PM

Damiano on March 20, 2009 at 1:00 PM

uhoh..I laughed,so I am too.

becki51758 on March 20, 2009 at 1:07 PM

Rush just said that TOTUS announced he was forming a Council of Accountability or some such rot.

HA!

ladyingray on March 20, 2009 at 1:08 PM

Obama insisted that Geithner was the only person for the SNOWE job because of his extensive knowledge of the issues at hand

What a disgrace!

Branch Rickey on March 20, 2009 at 1:08 PM

kingsjester on March 20, 2009 at 1:01 PM

I was 5.

ladyingray on March 20, 2009 at 1:09 PM

April Fool’s day will now be known as: OBAMA FOOL’S DAY

Ris4victory on March 20, 2009 at 1:11 PM

We are moving in a relatively short period of time on a scale that I don’t think you’ve ever seen an Administration do.”

And that is the main problem.

todler on March 20, 2009 at 1:13 PM

The idea that Giethner is dragging his heels because he’s hoping to get sh*t-canned, is not so far fetched; If Barry lets him twist in the wind for another month, we’re in bigger trouble than we thought.

anniekc on March 20, 2009 at 1:13 PM

Stand by. Barry’s fixing to make remarks about the economy on TV. Watch out for falling stocks.

kingsjester on March 20, 2009 at 12:58 PM

Yet another concept Obama doesn’t get: The danger of overexposure. I hate to listen to him anymore. Not going to do it. It’s all lies anyway.

petunia on March 20, 2009 at 1:13 PM

kingsjester on March 20, 2009 at 1:01 PM
I was 5.

ladyingray on March 20, 2009 at 1:09 PM

Bunch of young whippersnappers.

thomasaur on March 20, 2009 at 1:14 PM

1963 leftist agenda. take over the education system.the media.a political party(democrat)etc etc the goal is to usher in socialism and do away with democracy.their agenda is almost complete.beware america they want control of the people not freedom and their actions should speak volumes as to their real intentions.melt the phone lines before its too late. america is vanishing before our very eyes.god bless america and god save america.someone has stolen my country and I want her back.

lees on March 20, 2009 at 1:15 PM

“The Senate needs to take a more active role in determining the problems at Treasury.”

The problem is that half the time the Senate will find that the problem lies with themselves.

GardenGnome on March 20, 2009 at 1:16 PM

April Fool’s day will now be known as: OBAMA‘S A FOOL ’S DAY

Ris4victory on March 20, 2009 at 1:11 PM

Closer to the truth.

thomasaur on March 20, 2009 at 1:16 PM

Plan due on February 10

What year?

Wade on March 20, 2009 at 1:17 PM

I hope this isn’t a plan. But the markets aren’t at zero yet maybe that’s what they are waiting for.

I’m a little tired of them complaining that this is the hardest problem this country has ever faced!

Really? Somehow I think if Bush were still in it would be handled by now. And handled well.

petunia on March 20, 2009 at 1:18 PM

The problem is that half the time the Senate will find that the problem lies with themselves.

GardenGnome on March 20, 2009 at 1:16 PM

And try to hide it or lie about what has been brought to light.

thomasaur on March 20, 2009 at 1:18 PM

When are people going to figure out that what’s going on right now IS the plan?

logis on March 20, 2009 at 12:55 PM

The “plan” has been unfolding for quite some time. Do people believe that the billions invested in electing Obama were simply because he is “historical”?

neuquenguy on March 20, 2009 at 1:19 PM

There’s a Rite Aid that sells construction paper and crayons right near the 2000 Block of New Hampshire Avenue, that tip should save them at least two days.

NoDonkey on March 20, 2009 at 1:21 PM

Come to think of it, getting the banking fix thingee might not happen until June.

After the March Maddness, the MLB Fantasy Draft, and the NFL mock draft, we’ll be deep into the NBA playoffs, so May is looking like a “no go” as well.

gonnjos on March 20, 2009 at 1:27 PM

[rockmom on March 20, 2009 at 1:07 PM]

I suppose that describes some of it, but there’s none at all. No Plames, no Wilsons … sorry, I’m not good on remembering names of leakers, whether bad or good, … how about Colleen Rowley ….

Leakers aren’t confined to those who are appointed. Someone has to fill the ranks of worker ants and have access to parts of the puzzle, not to mention access to the departmental grapevine.

To tell you the truth, I don’t think they’ve disappeared. I think they have no trust in the MSM, either. There were too many cases in the last eight years where those who leaked info deemed unacceptable to the the vast majority of the members in the Church of the MSM, tended to eventually be outted. Knowing who is in power in Washington now, it’s better than a guarantee they know they’ll suffer big consequences when they do leak things.

Dusty on March 20, 2009 at 1:27 PM

That’s about it, they used the “crisis” for their stimucrap giveaway, now they plan on putting it back in the closet to be removed and dusted off just in time for 2010.
Bishop on March 20, 2009 at 1:06 PM

The legislation the Congressional Democrats came up with was intended to put off most of the economic carnage until after 2010.

What Obama is doing now (including everything from the trillion-dollar Fed spree to this dithering by Treasury) is speeding up the clock. He’s basically pulling the rug out from under the Democrat Caucus.

2010 is going to be a bloodbath.

logis on March 20, 2009 at 1:28 PM

“The Senate needs to take a more active role in determining the problems at Treasury.”

The problem is that half the time the Senate will find that the problem lies with themselves.

GardenGnome on March 20, 2009 at 1:16 PM

AIG executives and PAC donated over $150,000 to the Democratic Senatorial Campaign Committee. Thus far the DSCC has refused to return any of it. Bernard Madoff gave $100,000 to the DSCC. Goldman Sachs gave over $100,000 to the DSCC.

The Chairman of the DSCC when these donations were made was Chuck Schumer, who is third ranking member of the Senate Banking Committee.

Does that give you your answer?

It’s time for the pitchforks and torches, folks.

rockmom on March 20, 2009 at 1:29 PM

These effers need to be held accountable now, not in 2010, not in 2012, right now. This President and his whores need to be dragged before impeachment trials before any more damage is done. This is getting way out of hand.

Bishop on March 20, 2009 at 12:43 PM

AMEN!!!!!!!

NOW IS THE TIME. How can this be done?

Key West Reader on March 20, 2009 at 1:30 PM

Rush just said that TOTUS announced he was forming a Council of Accountability or some such rot.
ladyingray on March 20, 2009 at 1:08 PM

So Obama is DELEGATING ACCOUNTABILITY???

Good joke. I like that, but I’m not buying it. I’d believe almost anything anybody said about Obama. But that’s just way too good to be true.

logis on March 20, 2009 at 1:32 PM

All part of the Obama plan…

albill on March 20, 2009 at 1:34 PM

I’m not sure why anybody has a problem with all of this.

They have said they have a plan to produce a plan. Planning to have a plan that is designed to eventually produce a plan takes some intricate planning. Planning the timing to produce the initial plan, that will lead to a plan that will designate the outline of the final plan, requires meetings with the staff.

Therein lies the problem. Somebody forgot to plan for a staff that would schedule the initial planning meetings where the planners would construct the schedule for planning meetings that are intended to plan for a plan.

They do not plan to inform the MSM about the absence of a plan to produce a final plan since that may confuse everyone.

Now that sounds like a plan.

Yoop on March 20, 2009 at 1:36 PM

Steps off AirForce 1,waving a piece of paper in hand,
reminecent of Neville Chamberlain,

slowly,and deliberately,walks down the steps and states

in my nicotene stained fingers,i have in my hand,

the PLAN,and you can take that to the bank!!(Sarc).

canopfor on March 20, 2009 at 1:40 PM

…They do not plan to inform the MSM about the absence of a plan to produce a final plan since that may confuse everyone.

Now that sounds like a plan.

Yoop on March 20, 2009 at 1:36 PM

If by all of that you mean to say that Obama’s only plan is to confuse everyone while he nationalizes America, then I’d say that’s about the size of it.

logis on March 20, 2009 at 1:43 PM

Ah, something important to discuss.

Well he was right about this:

A.I.G. Sues U.S. for Return of $306 Million in Tax Payments:

http://www.nytimes.com/2009/03/20/business/20aig.html?_r=1&hp

getalife on March 20, 2009 at 1:48 PM

The plan is to pay off the ramson note Paulson proposed to Congress a trillion at a time.

The President said they are holding us hostage .

Pay attention.

getalife on March 20, 2009 at 1:51 PM

So Obama is DELEGATING ACCOUNTABILITY???

Good joke. I like that, but I’m not buying it. I’d believe almost anything anybody said about Obama. But that’s just way too good to be true.

logis on March 20, 2009 at 1:32 PM

I’m sorry, I messed up one word. I just heard the replay on Rush….

…TOTUS is going to create a “Culture of Accountability”.

BUWAHWHAHAHAHAHAAAA…

…that’s rich.

ladyingray on March 20, 2009 at 1:53 PM

getalife on March 20, 2009 at 1:51 PM

I agree. The Dems in Congress and Obama are holding us hostage and screaming, “CRISIS, CRISIS, THE SKY IS FALLING!!!!!”…

(and don’t pay any attention to those bonuses behind the curtain…we know they are there but will feign anger when they are paid) *wink

ladyingray on March 20, 2009 at 1:58 PM

The Administration has to delay this plan. The sticker price on this plan is going to be astronomical. There’s no way Congress is going to pass Obama’s budget if they pass Geithner’s plan. Obama has to delay this plan so that he can get his budget passed first.

suburbanite on March 20, 2009 at 2:00 PM

The plan is to pay off the ramson note Paulson proposed to Congress a trillion at a time.

The President said they are holding us hostage .

Pay attention.

getalife on March 20, 2009 at 1:51 PM

Could you go into more detail. btw, I love your posts on financial issues. While you’re at it, would you tell us how Obama managed to underestimate the deficit by two trillion?

a capella on March 20, 2009 at 2:01 PM

Tasteless humor alert

Yup, I am going to hell.

Damiano on March 20, 2009 at 1:00 PM

I love it. I thought up that on the way to work this morning; and was praying that I was first. I was wrong.

I’m sorta glad I’m not, though ;)

lorien1973 on March 20, 2009 at 2:04 PM

reminds me of the ‘Our Gang’ episode where they are going down a hill in a pedicab with no brakes – ‘We’re freewheelin’ now!’

blish on March 20, 2009 at 2:06 PM

OT – Mark Steyn will be subbing for Rush on Monday!

ladyingray on March 20, 2009 at 2:08 PM

The good news is the ransom will be paid off in full in April.

The economy will get the credit it needs to move forward. Regulations will be installed to keep it from happening again.

Then, you will get your money back.

The President will earn a second term because the gop are famous for destroying the economy. You will need a new economic philosophy to compete.

getalife on March 20, 2009 at 2:13 PM

FDR 2

Johan Klaus on March 20, 2009 at 2:14 PM

Hit the ground running!

Johan Klaus on March 20, 2009 at 2:14 PM

Dem/Obama recession.

Johan Klaus on March 20, 2009 at 2:15 PM

Just like carter.

Johan Klaus on March 20, 2009 at 2:16 PM

getalife on March 20, 2009 at 2:13 PM

Thank you. I always appreciate hearing lucid opinions from an obvious pro. Do you work in the financial world,… Wall Street, teach enonomics, finance, or business, CEO of a company? Like that?

a capella on March 20, 2009 at 2:19 PM

The White House has become the Frat House – this is exactly what I’d expect.

“Dude, that term paper doesn’t REALLY have to be done until mid-term! Let’s go watch the video of that prank we pulled on Hillary with the button.”

Thanks for raising the bar and bringing gravitas back to the WH, Barry. Or can I call you Big O?

hawksruleva on March 20, 2009 at 2:20 PM

You will need a new economic philosophy to compete.

getalife on March 20, 2009 at 2:13 PM

Clearly the new economic philosophy we need is yours getalife. Can you copy/paste your manifesto here for us?

DarkCurrent on March 20, 2009 at 2:55 PM

It’s getting near April. Tiny Tim has to expend all his energy on creative accounting for his own tax returns before he turns his attention to less important issues such as the economy and our country’s financial survival.

MaiDee on March 20, 2009 at 3:06 PM

They don’t need a PLAN…they need to stay out of the free market’s way.

Won’t happen, though.

pugwriter on March 20, 2009 at 3:12 PM

Good. Delay your plans until halfway to never so capitalism can work and get us back on track after your socialist mishaps.

Grafted on March 20, 2009 at 3:22 PM

Timorous Geithner makes molusks look spinal.

Entelechy on March 20, 2009 at 3:32 PM

He’ll probably start working on it on the 16th April.
In the meantime he’s hard at work on his 1040-EZ.

Tzetzes on March 20, 2009 at 3:45 PM

The problems we are dealing with are not rocket sciece, genetic engineering or quantum physics. I simply can’t see how it is that hard to get the key people (Geithner, Summers, Volker) in a room, identify the critical issues and put together a set of actions to address them. The oldest rule in decision making is to make a decision quickly so if it isn’t the correct one you have time to recover and change direction.

This delaying would make more sense if we were holding off on any and all actions until we had a plan but we are getting the worst of both worlds: no plan and a set of actions that look like a goat rodeo (sorry to insult the goats). The ONLY two explanations I can see is that either Geithner is an utter analysis/paralysis incompetent or Obama is specifically holding him back to enable the crisis driven frenzy of legislation, regulation and protectionism. Neither is a pretty picture for now or the future.

mrveritas on March 20, 2009 at 3:59 PM

That picture of him makes him look like he’s 2 seconds away from smashing himself in the head with a sneaker. “That was my HEAD! I’m sooooooooo wasted!!!”

Come to think of it, that WOULD explain a lot.

DrAllecon on March 20, 2009 at 4:02 PM

I’m beginning to think Geithner has a stained dress with Obama DNA on it, tucked safely away just in case…..

FuriousAmerican on March 20, 2009 at 4:39 PM

I am liking this new plan… the plan of doing nothing. Which will work… The banks will / have figured out they must save themselves.

Meanwhile Congress has been on display, and have shown themselves to be a collection of buffoons. It embarrassing to admit they are the “leaders” of this country.

Dasher on March 20, 2009 at 8:34 PM

canopfor
The PLAN is post-poned till April,
what day,the 1ST!

Don’t know what day but the 1st would be a lot better for Team Obama than, say, April 15th

DSchoen on March 21, 2009 at 4:14 AM