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| Down Under |
| Paul Keating Rips Geithner |
| 2009-03-07 |
| Posted by:Grunter |
| #1 This is a post worth reading for anyone interested in the topic. A bit of background. Keating was the Australian Treasurer under Hawke before becoming Prime Minister in a less than auspicious manner. He then won the next election against an opposition leader who honestly addressed Australia's tax system but was pilloried by Keating whose turn of phrase could be devastating. Keating had a lot of up close and personal dealings with Soeharto and his government. Soeharto was guilty of the East Timor Invasion and subjugation until the Asian debt crisis caused Indonesia to lose its grip and be forced out. That cost Keating dearly. Be that as it may, the IMF does have an appalling record prescribing textbook prescriptions which more often than not are worse than the cure. So although Keating is not known as a particularly good Prime Minister of the socialist Australian Labor Party nor is he particularly well regarded he does have a good perspective on what happened at the time. It is obvious Geithner is struggling to think for himself and lead the Treasury. He has obviously been promoted above his level of competence. It is appalling at such a time to note this amateurishness when other senior positions around him don't seem to be able to be filled. Just another example of incompetence throughout the administration. Who would go to war with only a secretary of defence and no generals? Well that's exactly where we are and the Secretary of the Treasury can't even count his lunch money correctly. With Paul Volcker wandering around the halls of the Treasury looking for an adult to talk to and being forced to mumble into the mirror, this is a very serious and dangerous time. The thundering herd remains asleep and oblivious. The phone is ringing and it is 3 o'clock in the morning. |
| Posted by: Omoter Speaking for Boskone7794 2009-03-07 17:48 |