Oh, really? Good to know:
Geithner has worked in government his whole life. Before becoming Treasury secretary, he was president of the Federal Reserve Bank of New York, which is a government job but is closely associated with Wall Street. The New York Fed president is selected by a board of private sector bankers and other private sector officials but has to be approved by the Federal Reserve Board in Washington. Almost all of the New York Fed’s profits get turned over to the U.S. government.
“What I say is that I never had a real job,” Geithner joked.
Their is something to be said about people who have not had jobs in private sector. But I think we know now that its pretty important if you are going to understand how the private sector works. I am beginning to think that Obama and his administration lack enough of this hard knox college education.
I guess that explains why he felt he didn’t have to pay taxes.
He apparently never had a decent toupee either.
Working for government agencies is a real job.
Nor has he ever done a lick of good work.
I’m sure the context of this comment is irrelevant….
I’d like to see him shoveling shit in Louisiana.
#7 amodedoma, instead of DC?
Yea, if he had for profit business experience he would be totally corrupt on top of stupid. We wouldn’t really want THAT would we?
#4:
“Working for government agencies is a real job.”
No one is saying it isn’t work, but the point is that gov’t employees typically don’t have to worry about things like: being laid off, having no vacation, being paid market wages, turning a profit, efficiency, or outsourcing.
#10–which is all totally irrelevant to Dallas’ point, making your exposition totally meaningless. Most/many wall street leaders were born with a silver spoon up their butts and it never gets removed. Stop licking their shit.
#10 Your description is a stretch but I’ll buy it only because government in principle doesn’t have competition.
I really didn’t read through the whole thing and probably shouldn’t be commenting because I’m not entirely sure what the hubbub is about.
Still, he sure seems to have the right credentials to be Sec of the Treasury. If I remember right, both parties supported him for that role. Maybe if he was an actor and costarred with a monkey that the complaints would subside.
“Quip”
Pronunciation: \ˈkwip\
Function: noun
a : a clever usually taunting remark : gibe
b : a witty or funny observation or response usually made on the spur of the moment
Mr Show–well done. Won’t be appreciated by too many, but well done.
Now, if you have the time, could you perform the same service on the “off color” thread?
…because I always really was a maverick.
#11:
“Most/many wall street leaders were born with a silver spoon up their butts and it never gets removed.”
I never said this was a good thing either.
A real job is like a second wife, except that the job still sucks after three years.
#4 Dallas said: “Working for government agencies is a real job.”
Yeah, like the Federal law clerks pulling down $95K to $200K and recently caught surfing porn sites 8 hours a day.
Many people who love their jobs don’t consider them “real jobs”. Bruce Springsteen, one of the hardest working men in show business, claims to have never worked a day in his life.
Our last President was also like that. He spent almost as much time away from the White House as he did at work.
“Almost all of the New York Fed’s profits get turned over to the U.S. government”
-what load of crap is this?
-s
second thought:
what’s up with that nose?
#14 Thanks! I tell you the story about the off-color joke is a tough one answer.
I guess a non-comedian awkwardly telling a joke is a bad thing for some? It seems that these days it’s best to leave any indicator of race out of a story or joke lest you appear to be a bigot. I’m not sure why he was telling that particular joke using those two “groups”. I suppose it was to illustrate a larger point through humor but we didn’t get that part in the video.
Ah well, in the end I suppose humor is the eye of the beholder.
# 20 soundwash:
“Almost all of the New York Fed’s profits get turned over to the U.S. government”
-what load of crap is this?
From WikiPedia:
http://en.wikipedia.org/wiki/Federal_Reserve_System
According to the board of governors of the Federal Reserve, “It is not ‘owned’ by anyone and is ‘not a private, profit-making institution’. Instead, it is an independent entity within the government, having both public purposes and private aspects.” In particular, the US Government does not own shares in the Federal Reserve System nor its component banks, but does take all of its profits after salaries are paid to employees, a dividend is paid to member banks that is 6% of their capital investment, and surplus is put in a capital account. The government also exercises some control by appointing its highest-level employees and setting their salaries. The Federal Reserve made a record profit of 45 billion in 2009, nearly all of which was transferred to the US Treasury.
Fractional reserve banking allows those who are first in line to make a exponentially huge profit over the rest. First in line are the bankers.
#16–brm==you set up the notion that “real work” requires a private sector experience, I assume along the lines of some Horatio Alger’s myth. The fact is though that most people in the upper reaches of financial/economic power come from the monied class who may have never heard of Horatio Alger, or have done, think it is only quaint.
People should be judged on their performance. End of inquiry.
Just a typical government funded life sucker. Half of all state, federal , and local government jobs are a useless waste of money and time.
I bet the only way he can solve a problem is by having a committee formed which, in turn will form sub-committees.