GEITHNER TWISTS SLOWLY IN THE WIND: SAYS “DERIVATIVES” BLINDSIDED THE GOVERNMENT

In another not-so-subtle attempt to expand the federal government's control over the financial markets, Treasurery Secretary Timothy Geithner said to Congress that the huge amount of money tied up in complex derivative transactions helped cripple the economy. After spewing forth with that gobbledygook, Geithner went on to say that "Establishing a comprehensive framework of oversight is crucial."

"Clearly, we're going to be significantly expanding regulation of derivatives," echoed a scripted-sounding Barney Frank, the chairman of the Financial Services Committee.

COMMENTS:
First of all, Barney Frankfarter has no business having anything to do with financial oversight, given his track record in the oversight of Fannie Mae and Freddie Mack, while he reportedly arranged for ACORN to benefit in the process through the arrangement of loans to otherwise non-qualified home buyers. Secondly, whenever a politician or bureaucrat starts speaking gobbledygook, you know you are listening to someone who does not know anything at all about his subject matter. Geithner, you will remember, is the one who got caught “making innocent mistakes” in his personal income tax returns during his confirmation hearing process. He’s also Obama’s key financial advisor, one of the fire alarmists who demanded that we have TARP and Stimulus or we wouldn’t be able to stop unemployment at 8%. Well, we got TARP and Stimulus and unemployment is, according to their own figures (which I trust about as far as I could toss the S.O.B.) 9.5%.

The sad state of the economy is finally showing Geithner up as being the twit that he really is, and he’s speaking gobbledygook trying to talk his way out of it. Surely, his days in his job must be numbered, pardon the play on words.

TODAY’S QUERIES & ANSWERS
Q. What does “gobbledygook” mean? (Chester – McCloud, CA)
A. That’s when you take a whole bunch of high falootin’ words and stick them in your mouth along with a pound of pea gravel and a large ration of horse manure, chew on the mixture thoroughly, and then spit it all out while sounding as authentic and knowledgeable as you possibly can.

Q. I head that someone is starting a new Elvis-themed restaurant in Burney? (Sherie – Bend, OR)
A. Yes. It’s for people who love meat tender.

Q. Is it true that they used to mint silver dollars in Carson City, Nevada? (Wayne – Twin Falls, ID)
A. Yes. They had peppermint and spearmint, but they quit making them because some people thought they were in bad taste.

TODAY’S QUOTE: 'If the light stays on for more than 4 hours, call your erectrician.' – Unknown Author to an Unknown Politician

TODAY’S VIDEO:
http://www.youtube.com/watch?v=dUFkpv6SlvI&eurl=http%3A%2F%2Fobama16g.blogspot.com%2F&feature=player_embedded