Just what Europe needs...

[Cancel 2016.2]

http://www.washingtonpost.com/busin...ebt-crisis/2011/12/06/gIQAywMxaO_story_1.html

Just what Europe needs..... Geithner...

Geithner said at the briefing that he came to Europe to “emphasize how important it is to the U.S. and global economy to succeed in building a stronger Europe.” He added that he is encouraged by the increasing willingness of Europeans to take significant steps to bolster their financial system.

I can only imagine the thanks Europe will give us for sending such a valued asset over to assist/guide them. My guess is the thanks will come in the form of a giant F U.

Geithner has worked with European financial policymakers while addressing other crises over the past 15 years. He led the Treasury Department’s international division in the 1990s, fighting a series of debt crises in Mexico, East Asia and Russia that have significant similarities to the current trouble. From 2003 to 2009, he was president of the New York Fed, a job that gave him entree to the close-knit club of global central bankers.

For the record...

1) Mexico... ended in a severe devaluation of its currency
2) Asia... that ended in a debacle... currency devaluations throughout Asia
3) Russia... blew up completely... 80% reduction in the value of their currency.

The Euro... gee... I wonder what is going to happen there...

What is truly funny is that the political leaders in both parties in the US couldn't stop criticizing the policies of all these countries for their failures. Largely: lax regs on banks and financial institutions, too much deficit spending.

so about a year after all this begins to settle down what does the US do?

It repeals Glass Steagall and embarks on a decade of massive deficit spending.