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Title: Geithner says banks must modify loans: sources
Source:
[None]
URL Source: http://news.yahoo.com/s/nm/20090207 ... /us_financial_bailout_geithner
Published: Feb 7, 2009
Author: r
Post Date: 2009-02-07 15:21:17 by Rotara
Keywords: None
Views: 154
Comments: 6
WILLIAMSBURG, Virginia (Reuters) – Treasury Secretary Timothy Geithner on Saturday told lawmakers that financial institutions that receive government assistance will have to make loan modifications and meet other new standards, according to Democratic sources. Geithner, during a briefing with House of Representatives' Democrats, was asked about a New York Times report that the Obama administration would not require banks to increase their lending as part of revamped government effort to restore stability to the financial industry. According to the sources, who asked not to be identified, Geithner said: "We are not doing what they wrote ... Institutions that get assistance will have to participate in loan modifications and meet other standards that we set." "Public assistance is a privilege, not a right," the sources said Geithner told lawmakers. The sources said Geithner told the lawmakers that fixing the banking system. "It is going to take time for it to work but it will work," he said, according to the sources. Geithner on Monday will unveil the Obama administration's plans for dealing with an ongoing credit crisis and outline how it will spend what remains in a $700 billion financial bailout fund approved by Congress in the fall. The Democratic sources did not indicate that Geithner provided any specifics on that plan during his meeting with House Democrats attending an annual retreat. Besides answering questions on how the administration will battle the crisis, the session was a chance for lawmakers to get an opportunity to get to know the new Treasury secretary better, source said. Geithner is not expected to ask Congress for more funds to clean up a banking system weighed down by bad mortgage-related assets, but some lawmakers believe the Obama administration could ask for more money later in the year. "We believe liquidity needs to be restored and in order to do that we need to see lending proceed," House Majority Leader Steny Hoyer told reporters before meeting with Geithner. (Reporting by Richard Cowan, editing by Patricia Zengerle)
Poster Comment: 
Treasury Secretary Timothy Geithner (R) speaks with House Speaker Nancy Pelosi (D-CA) during a meeting in her office on Capitol Hill, February 4, 2009. (Jason Reed/Reuters) 
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#1. To: Rotara (#0)
And paying our taxes is the LAW for the peons??????
That scam is to keep the sheeple down, keep'em busy and ultimately for social engineering. That's the World Socialist-Communist-Fascist's favorite Dept. The Father of all Scams is the Feral Reserve Creature. They have robbed us down past the copper pipes and still so few understand what's happened / is happening.
4um Traitor I was shocked that Buckwheat kept this human garbage on. Travesty.
1 day ago WASHINGTON (AFP) — An overwhelming number of Americans are outraged by tax cheats, according to an Internal Revenue Service poll released after two top US administration nominees withdrew over tax scandals. The 89 percent of Americans who find it "not at all acceptable" to cheat the agency was the highest recorded since the survey of taxpayer attitudes began in 2002, the IRS said. The poll was released after President Barack Obama's candidate to become Health Secretary, Tom Daschle, abruptly withdrew Tuesday after it was revealed he had paid more than 120,000 dollars in back taxes. Before Daschle, Nancy Killefer had to withdraw as head of the US government budget watchdog and Obama's Treasury Secretary Timothy Geithner, endured sharp questioning over his tax affairs before being confirmed. The US media has also questioned the tax affairs of the husband of Hilda Solis, Obama's pick for labor secretary. Americans are traditionally very obedient taxpayers, with the average rate for paying correct taxes hovering around 85 percent for decades, according to IRS Oversight Board spokeswoman Joelle Jordan. More than eight out of ten Americans said their personal integrity has a "great deal of influence" over whether they report and pay taxes honestly. This figure has steadily risen since the first survey in 2002, when 74 percent said the same. According to the poll of 1,000 people carried out in late August, 31 percent of Americans strongly believe it is "everyone's personal responsibility to report anyone who cheats on their taxes," compared to only 21 percent in 2002. OTaxcheats They don't bother me because I don't believe in even recognizing the creature's scams except to avoid and overcome them. These pathetic people PRETEND to be 'system people', so I'm not surprised that the snakes are slithering about still.
4um Traitor If it weren't for the feral reserve, every communist on the planet would already be dead or give up on socialism/communism.
4um Traitor The under the table economy is alive and well, in fact growing and flourishing every day. Sweat equity. The people at the top have not a clue at its necessity, they just do not pay their taxes.
#2. To: Cynicom (#1)
And paying our taxes is the LAW for the peons??????
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#3. To: Rotara (#2)
#4. To: Cynicom (#3)
(Edited)
Americans outraged by tax cheats, survey
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#5. To: Cynicom (#3)
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your counsel nor your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen.”—Samuel Adams
#6. To: Rotara (#4)
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