Geithner vows to continue financial stabilization

WASHINGTON (Reuters) – Treasury Secretary Timothy Geithner on Tuesday said the Obama administration's strategy to halt recession and contain the financial crisis has been effective, but vowed to continue stabilization efforts.

Geithner, in prepared testimony to a U.S. House of Representatives Appropriations subcommittee, said the economy and financial system still faced challenges, but the stake of taxpayers in the banking system was dramatically smaller than a year ago.

"Treasury will continue its efforts in these areas until recovery is firmly established and the financial system is repaired and reformed," Geithner said.

The Treasury chief in his testimony urged lawmakers to support the Treasury's request for a $474 million increase in its departmental budget, excluding proposed expenditures for international programs such as the U.S. contribution to a new food security fund.

The $13.9 billion budget for the Treasury's 10 appropriated bureaus would represent a 3.5 percent increase over fiscal 2009, which ended on September 30.

Read more: http://news.yahoo.com/s/nm/20100310/bs_nm/us_usa_geithner

show us the pennies please!

See? Y'all misjudged the furtive rat-like lil guy.
All along he was mightly struggling to save the country
from financial doom, and by golly, he did it!!!

Now everyone line up and apologize.


:sarcasm:

they are better than ever....so...he did speak the truth...

but his recipients are a small group of friends...

gotta secure his future employment (IMO)

Is to keep shoveling the Treasury into the overstuffed pockets on Wall Street. As long as all the wealth generated by labor is funneled to capital, things will be just fine. Oh, and we have to cut "entitlements," by which we mean social security and medicare, and certainly nothing in the defense budget.

you'll lose your jobs anyway but give us what is left of your damn money.

will our marrow be safe? No job growth, no recovery. Ya know AllentownJake I just refuse to play along anymore

boy they sure are jabbering a lot these days.

We are a year into a new administration and they have YET to make any serious effort to hold Wall Street accountable for what happened and make sure they do not try to take the country -- fuck that, the WORLD -- down again sometime in the feature.

Which is to shill for the big banks and other monied interests, and to deflect from the President flaming darts thrown by the outraged but mostly powerless critics.