Geithner Bombs

Barry, I really love ya. We need you a lot, so keep hangin' in there. Ya doin' all the right stuff.

But Barry, this Geithner guy is not ready for prime time. He is just too small. And, ya need some big guys there Barry, not some limited hack. Seems like a nice enough guy and competent in a limited way, but this here's the future of our country we're talkin' and you need some weight there. Ya need Wilt Chamberlin for cryin' out loud, not some pine warmer.

So, anyways the markets gave the plan a thumbs down and I'm gonna tell ya why.

You guys left out too much, that's why. And here's what you left out.

1. Nationalizing the banks. Ya need to give these bank idiots a timeline to get the lending going. If they don't make it, ya take 'em over, fire the managers and make loans.

I don't mean that you ask them politely for data, I mean that they make loans or get out.

Our national security is on the line here Barry, ya need to get everybody on board.

2. Banks and Investments. Bankers are just no good at making investments. We don't need any more proof, Barry. The Great Depression, the Glass-Steigal act, the Resolution Trust - for cryin' out loud. As sure as God made little green apples, that is something we know.

So, ya gotta create a firewall between bankers and investments. Maybe a new law. Maybe repealing the 1980's deregulation.

Ya gotta do something here and Geithner's not the guy.

3. Unregulated Securities and Banks. Barry, there's a whole bunch of poisonous crap out there and no rules against making more.

Those horse shit mortgage derivative bonds - where's the rule against making more? Nowhere, that's where.

Why the hell not, Barry? Why the hell not?

Unregulated banks - there's a whole bunch of them left over. That can't be Barry, ya gotta get a handle on all the banks. We just can't afford for you to mess this up.

The bankers and the Wall Street guys know they screwed up. And, they expect you to fix it with hard things, not namby-pamby things.

Ya gotta get tough, Barry, we got your back.