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Mortgage Market Update - 01/22 - Geithner Gaffe
Posted 01-22-2009 at 11:11 AM by dlenski
Geithner Gaffe
1/22/09 Here is a quote from our Treasury Secretary:
Timothy Geithner, currently the president of the New York branch of the Federal Reserve said, "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency.
"President Obama has pledged as president to use aggressively all the diplomatic avenues open to him to seek change in China's currency practices," Geithner said in written responses to questions from lawmakers.
The biggest purchaser of our debt is probably China. So, the best thing you can do in your first speech is take them out to the woodshed. They should be willing to continue to finance the President's new stimulus plan now. I could not even guess what direction rates are going to go in the near future. The government has 78 billion in notes up for auction and the Treasury has 57 billion in the near term. China may just boycott the auction to tell the US to concern itself with it's own financial crisis.
Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI
1/22/09 Here is a quote from our Treasury Secretary:
Timothy Geithner, currently the president of the New York branch of the Federal Reserve said, "President Obama -- backed by the conclusions of a broad range of economists -- believes that China is manipulating its currency.
"President Obama has pledged as president to use aggressively all the diplomatic avenues open to him to seek change in China's currency practices," Geithner said in written responses to questions from lawmakers.
The biggest purchaser of our debt is probably China. So, the best thing you can do in your first speech is take them out to the woodshed. They should be willing to continue to finance the President's new stimulus plan now. I could not even guess what direction rates are going to go in the near future. The government has 78 billion in notes up for auction and the Treasury has 57 billion in the near term. China may just boycott the auction to tell the US to concern itself with it's own financial crisis.
Home Mortgage Loans and Refinance in Milwaukee and across Wisconsin - Wholesale Mortgage Services of WI
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