Rep. DeFazio: Fire 'Timmy' Geithner

Rep. Peter DeFazio called for the firing of President Barack Obama's top two economic aides on Wednesday, accusing them of pursuing a recovery plan skewed too heavily in Wall Street's favor.

The Oregon Democrat told MSNBC's Ed Schultz that he was dismayed with the administration's lack of focus on job creation. He said it was time to dismiss both White House economic adviser Larry Summers and Treasury Secretary "Timmy Geithner."

"We think it is time, maybe, that we turn our focus to Main Street -- we reclaim some of the unspent [TARP] funds, we reclaim some of the funds that are being paid back, which will not be paid back in full, and we use it to put people back to work. Rebuilding America's infrastructure is a tried and true way to put people back to work," said DeFazio.

"Unfortunately, the President has an adviser from Wall Street, Larry Summers, and a Treasury Secretary from Wall Street, Timmy Geithner, who don't like that idea," he added. "They want to keep the TARP money either to continue to bail out Wall Street...or to pay down the deficit. That's absurd."

Asked specifically whether Geithner should stay in his job, DeFazio replied: "No.

"Especially if you look back at the AIG scandal," he said, "and Goldman and others who got their bets paid off in full...with taxpayer money through AIG. We channeled the money through them. Geithner would not answer my question when I said, 'Were those naked credit default swaps by Goldman or were they a counterparty?' He would not answer that question."

DeFazio said that there is a growing consensus among the Congressional Progressive Caucus that Geithner needs to be removed. He added that some lawmakers were "considering questions regarding him and other economic advisers" -- though a petition calling for the Treasury Secretary's removal had not been drafted, he said.

"[Obama] is being failed by his economic team," DeFazio concluded. "We may have to sacrifice just two more jobs to get millions back for Americans."

Neither the White House or the Treasury Department immediately returned a request for comment.

Visit msnbc.com for Breaking News, World News, and News about the Economy

Comments

[UNCLEJOE]

06:09 AM on 11/23/2009

Why is it that our congressmen are the last to see the solutions to our political and economic problems only after 70 percent of the American citizens?

When Obama appointed all those Federal Reserve graduates, what did they expect but bank robberies ?

Now that De Fazio Dem. of Oregon and Kevin Brady Rep. of Texas have opened the can of Worms about the nefarious Federal Reserve Bank gangsters, maybe we can regain control of our rogue government if it is not too late.

I never believed Geithner would be called out by bth Republicans and Democrats, Hallelujah !

[TheDarkKnight]

02:52 AM on 11/21/2009

Geitner and Summers have been a problem from the beginning. I hope that we will finally be able to get rid of them.

[KayCo]

01:48 PM on 11/20/2009

I agree. Let's get rid of Geithner and Summers and put someone in who puts the interest of regular working people and small businesses ahead of the interests of Wall Street!!!

[Harry Tuttle]

08:39 AM on 11/20/2009

I loved the part where he talked about "inherited problems." Like he wasn't at the Greenspan-Fed in charge of all bubbles and bailouts.

This guy is dangerous because he believes his own stuff.

[jebamoni4]

09:42 PM on 11/19/2009

Gaithner should exit immediately. Only because of this guy's inability. pople like Palin and Lou Dobbs gain prominence. It is a shame.!!!!

[ProgressiveVoice]

09:16 PM on 11/19/2009

I miss living in Oregon. sigh

[johnsonc20]

08:58 PM on 11/19/2009

If they look like weasels, sound like weasels, act like weasels, and smell like weasels...then they aren't St. Bernards. Fire their @$$es.

[SAGMUN]

08:11 PM on 11/19/2009

No one is indispensable. Geithner and Summers has to go. They helped the alpha fox cornert the market on chicken coops.

[tonydon]

07:46 PM on 11/19/2009

I agree Timmy and Summers are two of wall street lackies. I voted for Obama and would again, but these to are out of it

[MyTake]

06:48 PM on 11/19/2009

Let me say this one more time to the FAST FOOD LUVIN AMERICANS.

Obama did not select the Geithner/Summers tandem, he was handed a list from two powerful organizations that both run the administration and initiate/control/monitor the crimes of Wall Street.

In June/08 (5 months prior to the Obama victory) a powerful meeting took place in Chantilly, Virginia. I am not going to the name this organization of 135 internationally powerful elite membership, you have to examine the names of the U.S. attendee's that sat in on this 3 day meeting as noted here: http://illegalprotest.com/2008/06/08/list-of-bilderberg-2008-attendees-globalists-exposed/ .

Examine the names. There sat Bernanke & Paulsen who were preparing and sharing the most powerful of INSIDER INFORMATION to the most powerful of organized elites ever assembled. Seated next to those two were Geithner and Summers who were not only being briefed on the TARP bailout progress but were also receiving their marching orders for when either Clinton or Obama gained office.

Now if there is one American out there that can look at this list and not have light bulbs going off in their skull cavity, then just GIVE UP to these GLOBALIZATION LORDS who have just one mission: weaken the U.S. state, declare globalization and commence global depopulation!

[blueskybigstar]

07:05 PM on 11/19/2009

There is much truth to this. I think the Aaron Russo interview is really moving, along with the Kay Griggs interview, and Sibel Edmonds testimony. However, I believe that Obama is on to them. He knows where the trial of KSM is going to lead, back to the administration before him.

[ProgressiveVoice]

09:15 PM on 11/19/2009

I wouldn't say I disagree with you regarding insiders running much of what we foolishly believe to be a democratically elected government, but Paulson didn't request bailout funds until September 2008. How could they have been getting briefed on the progress of TARP when it didn't exist?

[MyTake]

11:18 PM on 11/21/2009

Be reminded the power of this group, they formulated and launched the European Union. They failed to launch the Union of the America's on or about 2005 and they are mad as h*ll about that failure.

Each of those key government administration officials are backed by remarkable resources from the 3000 membership list of the Council on Foreign Relations which prepped 300 of their members to the Obama administration appointments.

These financial events were preplanned, coordinated and this Group knew in advance on how they would handle the bank bail-out over the outgoing Bush and the incoming Obama or Clinton administration.

Don`t get hung up on dates because those key people seated at the meeting were handed current and future talking points and each was given a CFR committee who guides their actions, Bernanke included.

[17ladyslippers]

05:28 PM on 11/19/2009

Elizabeth Warren should replace Geithner. Plain and simple.

Get the foxes out of the henhouse.

[blueskybigstar]

07:05 PM on 11/19/2009

Can't get enough of her.

[SecretSister]

01:21 AM on 11/20/2009

X 2!

[sbvpav]

05:20 PM on 11/19/2009

here, here! kudos peter

[revhatchell]

04:53 PM on 11/19/2009

fire all goldman sachs moles.

[TheDarkKnight]

02:53 AM on 11/21/2009

Hear hear.

[MountPanic]

04:40 PM on 11/19/2009

Oregon representin'!

Right on DeFazio!

[Tundrapat]

07:30 PM on 11/19/2009

Always admired that man.

[Michaela1976]

03:58 PM on 11/19/2009

I couldn't agree more. As long as Geithner, Summers and Rahm remain I am done with the D's as are many independents. This has been nothing but bribery.