No to Geithner !?- I wonder seriously why Obama nominated him in the first place

Starting from a apparent incapability to supervise investment banks and make good calls on bailouts (Lehman - Merrill) all bad idea's finally by some tax rule violations as the man to head also the IRS - that are no go's. More troubling as he is not a candidate anyway is why Obama thought he should be nominated - he might have made a compromise some there with someone but that is exactely what he claimed in his speech yesterday he claimed should end right now. We need integrity to start with and some of Obama's choices are far away from that approach (Summers,Geithner and Emanuel are poor choices).

Geithner is a part of the Bilderberger (Ford foundation) as Obama's mother worked for the Ford foundation as his grandfather was the director. That are obscure coincidences. More importantly he worked as undersecretary of the Treasury under Rubin which are part of this disasters problems as they implemented the lack of oversight and the increasing dangerous liberalization of banks which is one of the major problems these days. Effectively Geithner is part of the created problem as he helped to let it happen and even supported some of the measures which are now a disastrous problem.

Excerpt Wikpedia

Geithner was born in Brooklyn, New York.^{[citation needed]} His father, Peter F. Geithner, is the director of the Asia program at the Ford Foundation in New York. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham-Soetoro, mother of President Barack Obama, and they met in person at least once.^[2] Timothy Geithner's mother, Deborah Moore Geithner, is a pianist and piano teacher in Larchmont, New York where his parents currently reside. Geithner's maternal grandfather, Charles F. Moore, was an adviser to President Dwight D. Eisenhower and served as a vice president of Ford Motor Company.^[3] Geithner spent most of his childhood living outside the United States, including present-day Zimbabwe, India and Thailand, where he completed high school at International School Bangkok.^[4] He then attended Dartmouth College, graduating with a B.A. in government and Asian studies in 1983.^[5] He earned an M.A. in international economics and East Asian studies from Johns Hopkins University's School of Advanced International Studies in 1985.^[5][6] He has studied Chinese^[5] and Japanese.[7


Geithner Faces Senate on Taxes, Economy Rescue Plans

By Robert Schmidt and Rebecca Christie

Jan. 21 (Bloomberg) -- Timothy Geithner faces a grilling in Congress over why, after underpaying his taxes, lawmakers should trust him with a $700 billion rescue fund as Treasury secretary in the worst economy since the Great Depression.

The Senate Finance Committee today is likely to demand answers on issues ranging from Geithner’s tax troubles to his solutions for broken U.S. financial markets. While few lawmakers question Geithner’s ability given he is president of the Federal Reserve Bank of New York, the missteps with the Internal Revenue Service give him an extra hurdle to clear before an expected Senate vote this week to confirm his nomination.

Market turmoil and the recession so far are outweighing senators’ concerns about the tax returns of the man nominated to rebuild the U.S. economy. In remarks prepared for delivery at the hearing and obtained by Bloomberg News, Geithner makes no mention of his taxes and calls for “reform” of the Troubled Asset Relief Program and quick action to revive the economy.

“There’s no doubt about his qualifications,” said Charles Grassley of Iowa, the senior Republican on the Finance Committee, who says he remains troubled about Geithner’s late payment of almost $50,000 in federal taxes and penalties. “There’s no doubt in a time of recession like we’re in now, where the secretary of the Treasury plays such an important role, that he fits in.”

Urgency

Adding urgency to Geithner’s confirmation is a renewed slide in bank shares. The Standard & Poor’s 500 Financials Index, down about 36 percent since the beginning of the year, yesterday reached the lowest since March 1995. Among the worst recent performers have been Citigroup Inc., which dropped to a 17-year low yesterday, and State Street Corp., which fell 59 percent.

“The ultimate costs of this crisis will be greater if we do not act with sufficient strength now,” Geithner said in the copy of his remarks. “In a crisis of this magnitude, the most prudent course is the most forceful course.”

Geithner said the financial system needs to recover from a “catastrophic loss of trust and confidence.”