Wikinvest Wire

Geithner says the dollar is not going down

Friday, December 04, 2009

One day and a better-than-expected jobs report makes all the difference as Treasury Secretary Tim Geithner sounded a lot crazier yesterday when, at about the 2:50 mark below, he disagreed with the idea that the U.S. dollar was going down.

With Fed Chairman Ben Bernanke now facing surprising difficulty in getting confirmed for another four-year term, the calls for Geithner's resignation are sure to grow, particularly if Wall Street bonuses are meted out as planned and unemployment remains high as the 2010 election nears. Elected officials will no doubt look for a "pound of flesh" to please their unhappy constituents who will increasingly feel that Wall Street is getting the better end of the deal than Main Street during the current economic recovery.

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Anonymous said...

The dollar has fallen each and every year from 2001 to 2008, the whole Bush presidency. No one cared all those years, so I am happy to see it getting press now. We had the melt down panic raise the dollar but it has been selling off since then, but we are still not as low as it was at the end of the bush term. So if Geithner is talking about the last 2 years he is correct the dollar is not going down.

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