Reply #5: And good ol Timmy the Elf continually lies by stating that the [View All]

Reason he must spend long hours revamping the current system is because the legislation is not there to help.

Well DUH. Then immediately put Glass Steagall into place. And immediately wake up and realize that the very decent laws passed in the 1980's regarding the S & L crisis would have done significantly more to help Main Street by:

1) putting the Too big to fail banks into receivorship (I wonder how many of thsoe banks would have decided they weren't in need of help after all, if it prevented their bonuses?)
2) used the state chartered and approved local banks, one in each region of the nation to receive the needed TARP funds. With added provisions in place that these monies had to be loaned out to small and big businesses to help make their payrolls, to consumers etc.

Also repealing the 1999 Banking Reform Act is a good place to start also.

But quit lying so much, Geithner. You really make the President look bad.