More Dems Attack Geithner on Proposed Finance Reforms « The Washington Independent
It’s no mystery that Treasury Secretary Tim Geithner is the ultimate Wall Street insider. But it seems that more and more Democrats are losing their patience with what they perceive as his protectionism of the finance industry at the expense of consumers and taxpayers. The latest to weigh in is Sen. Maria Cantwell (D-Wash.), who twice this week has slammed Geithner for his finance reform proposals. From The Hill:
Cantwell ripped into the financial reforms put forth by Geithner and the Obama administration as “appalling” for including alleged loopholes and exemptions for large financial institutions in legislation overhauling the regulatory framework for the nation’s top firms.
“I’m not sure,” Cantwell said during an appearance on MSNBC this morning when asked by host Dylan Ratigan why Geithner still has a job.
And yesterday on NBC’s “Meet the Press:”
“What the Treasury secretary basically said was that, yes, banks should take more risks and we should continue the loopholes,” she said. “And that’s really appalling because right now, we know that lack of transparency has caused this problem with the U.S. economy, and Wall Street is continuing, one year later, with the same loopholes.”
It won’t be easy for the Obama administration to push through legislation if it can’t even convince its own party to support it.