Geithner Must Go! For Some Reason!

By
Thursday, March 19, 2009 at 10:04 am

Rep. Darrell Issa (R-Calif.) was on Fox News today demanding the resignation of Treasury Secretary Timothy Geithner, and it was remarkable how broad his case was. First, Geithner needed to go because he “should have known more” and he “should have demanded” that AIG renegotiate its bonuses. When Fox’s Megyn Kelly pointed out that Geithner might not have been in a position to know, Issa pivoted: “instead of being wrong he’s incompetent.” When Kelly asked whether $165 million is a big enough pile of money to panic about, Issa allowed that it isn’t huge, but Geithner is “trying to have it both ways” by being publicly outraged about it. All roads lead to demanding his resignation.

I’ve seen a lot of panting over Republicans demanding Geithner’s head — Greg Sargent, in particular, has gotten very excited at the idea that the GOP might be discussing a call for Geithner to step down. While (as Issa says) the Republicans have no power whatsoever to oust Geithner, they do have the power to stoke uncertainty about the leadership of Treasury. They have the power to air criticisms that might not be true, or at least that can’t be backed up immediately. A little more seriousness about this wouldn’t hurt them.

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Comments

10 Comments

Frank
Comment posted March 19, 2009 @ 7:58 am

wow. the post had a story the other day about how geithner knew IN ADVANCE about the AIG bonus packages and made sure Obama didnt know about them until the day before the checks went out. then he says he didnt know anything about it.

youre gonna believe that Fed Reserve crony???!!


Barry Myers
Comment posted March 19, 2009 @ 9:32 am

In democratic countries where the public can get very heated about the use of their tax dollars, it has been common knowledge that the job that requires the most political skills is the one with overall responsibility for finance. memories of such persons include Rubin of the Clinton administration and Schultz who was Reagan's point man, or as some media folks used to call him, “Reagan's Prime Minister. President Obama needs a George Schultz. Tim Geithner may be a brilliant financial analyst and economist, but that is not enough. Every one of his visible involvement in the present economic situation demonstrate the political novice that he is. Could yesterday's dramatic move by Bermanke of the Fed. Reserve Board be anything but a show of disgust for the inability of Geithner to get his act together? How can anyone explain why the Secretary of Treasury not fill any of the top jobs in his department. Is the Secretary afraid of competition from possible able asistsants?. Maybe he wants to be sole “decider” of his department. President Obama is showing reckless patience with the man.


MarieHunter
Comment posted March 19, 2009 @ 9:49 am

Agreed, but there is something about Geithner that signals vulnerability. He reminds me of so many gifted analysts that can grasp the theoretical but not the skill to run a business.


cubanexile
Comment posted March 19, 2009 @ 10:19 am

The words “gifted” and “brilliant” don't apply to Geithner. He is just someone with the right connections and pedigree who also knows how to suck up to the more powerful. He's a toady of Rubin, Summers and the whole lot of hypocrites who let this mess happen and who still hope their friends in AIG and the investment banks can get away with looting the US Treasury after playing with other people's money.


JacquotLaw
Comment posted March 19, 2009 @ 11:03 am

GEITHNER & RANGEL TO BE SUBPOENAED IN TAX FRAUD CASE

Federal Case Alleges Political Elite Get Favorable Tax Treatment Over Ordinary Citizens

On 5 March 2009 a Motion was filed in U.S. v. David Jacquot, Case # CR 08-1171, in the Federal District Court, in San Diego, California seeking to dismiss a false tax return indictment on the grounds that the Defendant was not treated in the same manner as politically prominent individuals. A hearing on this matter is set for 30 March 2009 in San Diego and the Defendant in this case intends to subpoena Secretary of the Treasury Timothy Geithner, House Ways and Means Chairman Charles Rangel, former Senate Majority Leader Tom Daschle, and others.

The Defendant in this case is David Jacquot, an attorney and retired Army Officer. He is a decorated disabled Desert Storm veteran living in rural Idaho with his family.

This “Geithner Motion” cites HR 735 titled the “Rangel Rule Act of 2009,” which if enacted, would eliminate penalties and interest for common citizens to allow them to be treated in the same manner as House Ways and Means Chairman Representative Charles Rangel. The Geithner Motion also quotes President Obama stressing the need to “treat common citizens in the same manner as politically prominent individuals in regards to tax matters”.

The Geithner Motion details how Mr. Jacquot was vindictively indicted in retaliation for his successful defense of his clients against the IRS. The tax returns of his corporate law firm for the four (4) years of 2001 to 2004 were investigated and the government alleges that the law firm declared almost $200,000 TOO MUCH income during this time period. The Geithner Motion contains descriptions of numerous actions by the government and Assistant U.S. Attorney (AUSA) Faith Devine that are the basis for the claim of retaliation against Mr. Jacquot for his zealous representation of his client’s Constitutional and statutory rights. The improper actions of AUSA Devine have been reported to the DOJ Office of Professional Responsibility for disciplinary action and are currently under review.

A copy of the Geithner Motion and the complaint against AUSA Faith Devine can be downloaded at:

http://www.jacquotlaw.com/vindictive-prosecution.html


Frank
Comment posted March 19, 2009 @ 2:58 pm

wow. the post had a story the other day about how geithner knew IN ADVANCE about the AIG bonus packages and made sure Obama didnt know about them until the day before the checks went out. then he says he didnt know anything about it.

youre gonna believe that Fed Reserve crony???!!


Barry Myers
Comment posted March 19, 2009 @ 4:32 pm

In democratic countries where the public can get very heated about the use of their tax dollars, it has been common knowledge that the job that requires the most political skills is the one with overall responsibility for finance. memories of such persons include Rubin of the Clinton administration and Schultz who was Reagan's point man, or as some media folks used to call him, “Reagan's Prime Minister. President Obama needs a George Schultz. Tim Geithner may be a brilliant financial analyst and economist, but that is not enough. Every one of his visible involvement in the present economic situation demonstrate the political novice that he is. Could yesterday's dramatic move by Bermanke of the Fed. Reserve Board be anything but a show of disgust for the inability of Geithner to get his act together? How can anyone explain why the Secretary of Treasury not fill any of the top jobs in his department. Is the Secretary afraid of competition from possible able asistsants?. Maybe he wants to be sole “decider” of his department. President Obama is showing reckless patience with the man.


MarieHunter
Comment posted March 19, 2009 @ 4:49 pm

Agreed, but there is something about Geithner that signals vulnerability. He reminds me of so many gifted analysts that can grasp the theoretical but not the skill to run a business.


cubanexile
Comment posted March 19, 2009 @ 5:19 pm

The words “gifted” and “brilliant” don't apply to Geithner. He is just someone with the right connections and pedigree who also knows how to suck up to the more powerful. He's a toady of Rubin, Summers and the whole lot of hypocrites who let this mess happen and who still hope their friends in AIG and the investment banks can get away with looting the US Treasury after playing with other people's money.


JacquotLaw
Comment posted March 19, 2009 @ 6:03 pm

GEITHNER & RANGEL TO BE SUBPOENAED IN TAX FRAUD CASE

Federal Case Alleges Political Elite Get Favorable Tax Treatment Over Ordinary Citizens

On 5 March 2009 a Motion was filed in U.S. v. David Jacquot, Case # CR 08-1171, in the Federal District Court, in San Diego, California seeking to dismiss a false tax return indictment on the grounds that the Defendant was not treated in the same manner as politically prominent individuals. A hearing on this matter is set for 30 March 2009 in San Diego and the Defendant in this case intends to subpoena Secretary of the Treasury Timothy Geithner, House Ways and Means Chairman Charles Rangel, former Senate Majority Leader Tom Daschle, and others.

The Defendant in this case is David Jacquot, an attorney and retired Army Officer. He is a decorated disabled Desert Storm veteran living in rural Idaho with his family.

This “Geithner Motion” cites HR 735 titled the “Rangel Rule Act of 2009,” which if enacted, would eliminate penalties and interest for common citizens to allow them to be treated in the same manner as House Ways and Means Chairman Representative Charles Rangel. The Geithner Motion also quotes President Obama stressing the need to “treat common citizens in the same manner as politically prominent individuals in regards to tax matters”.

The Geithner Motion details how Mr. Jacquot was vindictively indicted in retaliation for his successful defense of his clients against the IRS. The tax returns of his corporate law firm for the four (4) years of 2001 to 2004 were investigated and the government alleges that the law firm declared almost $200,000 TOO MUCH income during this time period. The Geithner Motion contains descriptions of numerous actions by the government and Assistant U.S. Attorney (AUSA) Faith Devine that are the basis for the claim of retaliation against Mr. Jacquot for his zealous representation of his client’s Constitutional and statutory rights. The improper actions of AUSA Devine have been reported to the DOJ Office of Professional Responsibility for disciplinary action and are currently under review.

A copy of the Geithner Motion and the complaint against AUSA Faith Devine can be downloaded at:

http://www.jacquotlaw.com/vindictive-prosecution.html


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