{"id":461666,"date":"2010-03-22T18:08:03","date_gmt":"2010-03-22T22:08:03","guid":{"rendered":"http:\/\/blogs.wsj.com\/economics\/2010\/03\/22\/geithner-20\/"},"modified":"2010-03-22T18:08:03","modified_gmt":"2010-03-22T22:08:03","slug":"geithner-2-0","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/461666","title":{"rendered":"Geithner 2.0?"},"content":{"rendered":"

Treasury Secretary Tim Geithner<\/strong> has been criticized for looking, sounding and talking like an investment banker, a job he has never had. But Geithner appears to be trying out a new rhetorical approach. In a speech \u00a0at the American Enterprise Institute — styled by the Treasury as \u0093a closing argument\u0094 in the debate over financial regulatory reform legislation — Geithner rejected the technocratic language that he often favors for a more accessible sermonizing that borrows heavily the cadence of politicians. Has Barack Obama<\/strong> been tutoring him?<\/p>\n

A sample: <\/span><\/strong><\/p>\n

\u0093<\/em>When a conservative Republican President \u0096 George W. Bush, a President with abiding faith in markets who proposed privatizing social security \u0096 is forced by a financial crisis to put Fannie Mae and Freddie Mac into conservatorship, companies that combined \u0096at their peak \u0096 represented more than $130 billion in shareholder value; <\/em><\/p>\n

When a conservative Republican President is forced by failures of financial policy to ask Congress for $700 billion in authority to stabilize the financial system and to invest this taxpayer money into banks that account for three quarters of the entire U.S. banking system;<\/em> <\/em><\/p>\n

When a conservative Republican President is forced by a recession, caused by financial failures, to lend billions of dollars to two of our largest auto makers;<\/em> <\/em><\/p>\n

When a conservative Republican President is forced to do all that \u0096 and he was right to do it \u0096 there\u0092s something undeniably wrong with the economy.\u0094<\/em><\/p>\n

And this: <\/span><\/strong><\/p>\n

\u0093Listen less to those whose judgments brought us this crisis. Listen less to those who told us all they were the masters of noble financial innovation and sophisticated risk management. Listen less to those who complain about the burdens of living with smarter regulation or who oppose having to pay a fee for the costs of this or future crises. \u00a0Instead, listen to the families and businesses still suffering from this crisis.\u00a0 Listen to those who borrowed responsibly but today can\u0092t get a loan or can\u0092t refinance their mortgage. Listen to those who lost their jobs and their healthcare and their pension savings. Listen to them.\u0094<\/em><\/p>\n

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Treasury Secretary Tim Geithner has been criticized for looking, sounding and talking like an investment banker, a job he has never had. But Geithner appears to be trying out a new rhetorical approach. In a speech \u00a0at the American Enterprise Institute — styled by the Treasury as \u0093a closing argument\u0094 in the debate over financial […]<\/p>\n","protected":false},"author":850,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-461666","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/461666","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/850"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=461666"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/461666\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=461666"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=461666"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=461666"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}