Tuesday, February 10, 2009

Sometimes all you can do is ... laugh


Point of honesty: cassandra got to this first.

But it's too good to pass up--especially when you look at the forlorn, almost teary look on Geithner's face. From HuPo:

Administration officials were greeted with sarcasm and laughter Monday night when they briefed lawmakers and congressional staff on Treasury Secretary Tim Geithner's new financial-sector bailout project, according to people who were in the room.

The laughter was at its height when Obama officials explained that the White House planned to guarantee a wide swath of toxic assets -- which they referred to as "legacy assets" -- but wouldn't be asking Congress for money. Rep. Brad Sherman (D-CA), a bailout opponent in the fall, asked the officials to give Congress the total dollar figure for which they were on the hook. The officials said that they couldn't provide a number, a response met by chuckling that was bipartisan, but tilted toward the GOP side. By guaranteeing the assets, Geithner hopes he can persuade the private sector to purchase a portion of them.

Congress may be able to do little more than laugh.


At least they weren't jumping up to write him more blank checks.

2 comments:

Hube said...

The laughter was at its height when Obama officials explained that the White House planned to guarantee a wide swath of toxic assets -- which they referred to as "legacy assets" -- but wouldn't be asking Congress for money.

Just read that bold again. No wonder they were all laughing.

Anonymous said...

And 361 points down show the private sector's desire to follow the plan. we get a lot of talk from the new admin, but are seeing very little detail and forward thinking.