Aren't you glad this guy is in charge? I'm just shaking my head reading about the guy who blamed TurboTax first actions as Treasury Secretary.
According to the New York Times
The Obama administration’s new plan to bail out the nation’s banks was fashioned after a spirited internal debate that pitted the Treasury secretary, Timothy F. Geithner, against some of the president’s top political hands.
In the end, Mr. Geithner largely prevailed in opposing tougher conditions on financial institutions that were sought by presidential aides, including David Axelrod, a senior adviser to the president, according to administration and Congressional officials.
Mr. Geithner, who will announce the broad outlines of the plan on Tuesday, successfully fought against more severe limits on executive pay for companies receiving government aid.
He resisted those who wanted to dictate how banks would spend their rescue money. And he prevailed over top administration aides who wanted to replace bank executives and wipe out shareholders at institutions receiving aid.
Because of the internal debate, some of the most contentious issues remain unresolved.
We'll take a look at this plan to reserve judgment until tomorrow but considering TurboTax disabled Geithner helped craft the original TARP, this is not looking too good for the U.S. taxpayer or the economy.
Anyone else notice a very disturbing pattern? The news reports are all about form, who won and power instead of actual substance, policy and common sense on what actually works.