Geithner Shamelessly Lies About the Economy

Treasury Secretary Tim Geithner, in an appearance on NBC's Meet the Press this morning, proved Lyndon LaRouche's contention that every time Obama Administration officials open their mouths, lies come out. Geithner shamelessly lied about the economic collapse and the administration's polices which are actually designed to bail the monetary system out. His biggest lie was that the banking system is "dramatically more stable" because of the government bailouts. Just two days after the FDIC seized nine more banks, bringing the total for the year to 115, Geithner declared that there has been a "dramatic improvement in confidence" now that "you've had private capital come back into the system." His major complaint was that banks are too timid. "The big risk we face now is that banks are going to over-correct and not take enough risk," he said. "We need them to take a chance once again on the American economy. That's going to be important to recovery."