Isakson says it may be time for Geithner to go
Johnny Isakson just became the first Republican senator to suggest that Treasury Secretary Timothy Geithner should resign in the wake of the AIG bonus debacle.
“I think his credibility has been hurt to the point where he’s not going to be effective, and if I were him I would,” Isakson told Politico.com this afternoon.
While Isakson said that the decision is Geithner’s to make, he made clear that the Treasury secretary’s handling of the AIG bonuses and the lack of confidence he’s given to the markets mean that he can no longer serve the administration effectively.
“If you lose your credibility and you’re in that type of a position, you just can’t function as effectively as the head of the Treasury or any other department,” said Isakson, who was one of 34 Republicans to vote against Geithner’s nomination in January. “He’s hurting the administration, and I think it’s hurting the country.”
Isakson becomes the first Senate Republican to suggest that Geithner resign — but other Senate Republicans aren’t far off.
Sen. Saxby Chambliss (R-Ga.) said the resignation decision is up to President Barack Obama, while adding, “I didn’t vote for him; he shouldn’t have been there to start with.”
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66 comments Add your comment
b6542
March 19th, 2009
7:06 pm
I agree with Saxby !
Zup
March 19th, 2009
7:10 pm
Why doesn’t Isakson resign? He sits back eating biscuits and gravy but does little (actually nothing) as far as helping the situation or the state for that matter. He is a useless man who has done nothing of note during his tenure, yet he’ll continue to get elected on the fact that he’s republican. Maybe somebody should investigate his nebulous/dubious real estate dealings.
Bernie Matt
March 19th, 2009
7:10 pm
I’m not a republican, yea I used the lower case r, but when you’re right, you’re right. He needs to resign and perhaps, some others should follow. I just wish Isakson and Chambliss would have been this outspoken during the Bush Administration! Stop playing politics and say and do what’s best for all Georgians!
Devildog
March 19th, 2009
7:11 pm
I think the administration needs to get someone who knows what’s going on. Steve Forbes comes to mind. I know he’s a Republican, but he seems to understand the situation.
Zup
March 19th, 2009
7:13 pm
b6542 is retarded
Political Man
March 19th, 2009
7:28 pm
People on the left are not all that happy with some of Obama’s picks for key positions. Geithner is one of them. How can he regulate? He’s one of them.
Jamac
March 19th, 2009
7:30 pm
Why don’t all the Republicans resign? They allowed W. to mess up royally and put this country in the tank. Not one of them called for his resignation. I guess they believe that if they scream loud enough about what has gone wrong in the few weeks of this administration, people will forget it was them who put us in the toilet. At least I respect Obama for taking responsibilty when problems arise…something W never allowed to come out of his mouth! We should be concerned about the PEOPLE who are suffering!!! Please look at the you tube video of the students in Pomona, CA.
Steve
March 19th, 2009
7:38 pm
Saxby Chamblis and Johnny Isakson have it made. The sheep in Georgia keep electing them and they just keep pointing the finger and blaming and blaming and blaming. Georgia used to be a great state but now it is a blight of urbam sprawl and city decay. Oh well, I’m sure they are getting paid.
Ellie
March 19th, 2009
7:41 pm
So Saxby thinks “he shouldn’t be there” because he didn’t vote for him. Well Saxby you shouldn’t be there because I darn sure didn’t vote for you; will never ever in the future ever vote for a Republican knowingly; and Johnny my friend, you got my vote the last time but sure won’t this time. It is because of the Republicans we are in the mess we are in because you wouldn’t stand up to W. That being said, I think Geither should go for my own reasons and not because Saxby says he should. Obama has more integrity in his little finger than W, Saxby and the rest of the Republicans put together, and that includes our State Legislators.
Go Johnny Go
March 19th, 2009
7:45 pm
Yes, the Geithner needs to go, and Go Johnny Go, right behind him ! Maybe Richard Shelby of Alabama can represent Georgia during the lull !
Ricscotay
March 19th, 2009
7:47 pm
This administration appears to be totally inept at picking competent lieutenants to help run this country. JI’s just stating the obvious.
AlabamaJack
March 19th, 2009
7:48 pm
Our President – eliminating tax evasion – one nominee at a time.
Steve
March 19th, 2009
7:49 pm
I haven’t heard one person mention what I think is a very fundamental issue: should we sacrifice forever (because that’s how long the sacrifice would be for) the inherent integrity of contracts as legally binding documents to be honored (even if politicians and populists don’t like the contracts) for $165 million. That’s not to say that the people were legally entitled to the bonuses shouldn’t have turned them down…
the evil rich
March 19th, 2009
7:50 pm
Timmy the TAX CHEAT, never should have been confirmed. There’s plenty of blame to go around, but don’t for a moment think NObama can fix this!
He’s too busy filling out a March Madness bracket and appearing on Leno!
Steve
March 19th, 2009
7:52 pm
Ironic that the Republicans are running as fast as they can from Wall Street, the Sugar Daddy that’s kept them in business all these years to the detriment of ordinary people.
Datboy
March 19th, 2009
7:54 pm
Yup Zup is beyond Hup! He a BHO Lup Dup
Steve
March 19th, 2009
7:58 pm
Whoops, the Steve of 7:49 and 7:52 is me, a different Steve from the one who commented earlier here. Sorry — i should have used a different name…
Jay
March 19th, 2009
7:58 pm
Was Geithner appointed by Isakson? Why should he resign? Was the bailout for AIG not approved during the Bush Era? Why are Repugnicans now fiscal conservative when they supported nation building in Iraq, Afghanistan at the expense of and cost to American tax payers
Kevin Johnson
March 19th, 2009
8:00 pm
Isakkson and Chambliss are embarassing redneck fools
the evil rich
March 19th, 2009
8:01 pm
Wake Up Jay, don’t you realize how much spending the dems are doing NOW!
Allen
March 19th, 2009
8:03 pm
Johhny Isakson sat down and slavishly voted with Bush right down the line – He should haul his you know what back down to Northside Realty – oh thats right, I mean Fairgreen Capital – oh thats right. Johnny his dad and his cronies; making Georgia insolvent for 50 years running. He has got some nerve!
Chris
March 19th, 2009
8:09 pm
The Republican’s have no voice right now, THEY are the reason we are here. Let’s give the Dem’s a chance. What a joke that they even suggest anything. Where were they 4 years ago? Idiots.
And no I didn’t vote Obama.
GaSux
March 19th, 2009
8:10 pm
What purpose does Isakson and WC Fields…err Chambliss serve. They are Ag wonks and are so far out of the mainstream it is unbelievable they can get elected….but wait thats right..put up a few ads with some blue hairs surrounding them and hate on everything and you become a congressman from GA. Maybe with some enlightened leadership GA could be known for something more than poison peanuts and mortgage fraud. Im packin my trailer and leaving.
JD
March 19th, 2009
8:11 pm
ALL Democraps and Retardicans should resign. They are disgusting traitors to this country whose bipartisan idiocy has destroyed our way of life. That said, Ron Paul got my vote. Technically, he is a Libertarian–the party that will get my vote in the next election.
Bryan
March 19th, 2009
8:18 pm
I wish I was as smart as all of you republicans and always knew the right answer to everything. Jon-E and Sacks-B please stop playing politics and start giving a rip about your country.
Dave..
March 19th, 2009
8:19 pm
To add onto Jay’s comment:
….American tax payers, and American Lives!
rickster
March 19th, 2009
8:21 pm
Everyone keeps blaming W for 8 years,obama is doing more in 60 days that I or my children will never see the end of this
democrated mess Thats what happens when you don`t know how to read and get to vote.Shame on you!
Justin
March 19th, 2009
8:23 pm
I’m on the side that Chambliss and Isakson should resign long before Geithner. They’ve been around a hell of a lot longer and cost the citizens a lot more money. Just like the feigned indignation by the Republicans over pork they ordered up, these two are bit actors in political theater. They’re much better at reinforcing the Red-State road blocks than providing any solution that actually solves the problem. Trying to reduce lawsuits from even the most vile banker is a useful consideration. At least they considered the alternate outcome compared to pouring money into Iraq and losing billions of it.
What would solution does Isakson offer? Let AIG go bankrupt (by parroting what Newt says)? Watch it take 3/4 of the world’s banks with it and those execs still walk away with their money and our financial system collapses so the FDIC goes belly up trying to float everyone’s accounts. It’s funny that the Republicans are suddenly such huge fans of bankruptcy as a panacea for big businesses. Just a few years ago, they sided with the banks in making personal bankruptcy much harder/more expensive with the singular goal of preserving bank profit yields. Isakson and Chambliss were both yeas at the time so they obviously hate when individuals skirt their responsibilities. The fed stepping in to save AIG isn’t altruistic…it’s b/c the alternative is that much worse. AIG has several trillion in potential liabilities and the only way it can earn anything back is by keeping it solvent for the time being to allow an orderly unwind. Lehman was far smaller and it almost blew everything up. Go back and look at the market in the days to the Lehman blow up and tell me if that was preferable to some people getting bonuses when they shouldn’t have.
Dave..
March 19th, 2009
8:23 pm
…uh Rickster..you are an idiot, period!
Greg
March 19th, 2009
8:25 pm
Wow- look at that very thinly veiled racism from “rickster.” I’m glad that I don’t see the world the way that poor, pitiful person does.
Big Dawg
March 19th, 2009
8:25 pm
The last mess that W left us with may well be Obama himself. It’s clear that the Big O is not ready for prime time and his bumbling SecTres proves it. Let’s hope that he spends more time puzzling over next year’s NCAA BB brackets than trying to “fix” the economy.
Jock Ewing
March 19th, 2009
8:29 pm
America is dead. Both parties have blown it. It is going to take resetting the entire situation to take America back to what is supposed to be. Everyone should quit paying their taxes and stop having deductions taken from the paychecks. They have already bankrupted the USA and still taking OUR money and using it for THEMSELVES. BOTH Parties I tell ya.
If we all quit funding them, things would really change but not until then.
SugarHillDawg
March 19th, 2009
8:33 pm
He can’t, he’s the ONLY one who knows how to handle TARP.The other people who are in line for bonuses are depending on him to be there. Man, I’ve never seen such a bunch of IDIOTS running things in my life!
Peter Battisti
March 19th, 2009
8:38 pm
I’m confused. Didn’t the bailout of AIG begin with a no strings attached multi-billion dollar loan made by a Republican President and a Republican endorsed Treasuary Secretary? Senators that didn’t vote for or support the guy in the first place are hardly objective. All this and more from the guys that brought us Worldcom, Enron, Lehman Brothers, Countrywide and no-bid multi billion dollar Iraqi contracts from the former Vice Presidents employers. I think the Senate should go back to what preoccupied them prior to this fiascio. Did Barry Bonds use Steroids or not? I mean this is a really pressing issue that needs the Senates full time attention and hopefully keeps them away from others issues that require mathmatics.
johnc22
March 19th, 2009
8:41 pm
Our two senators are a disgrace and Isaakson is just grabbing some spotlight for himself since his party is in a self-made shambles. When Dumbya was running roughshod over the constitution and running up enormous debts for nation building in other countries while slashing taxes for the wealthiest in this country, Saxby and Johnny were right there with their kneepads and chapstick to service him. Now, after what, 60 days, Geithner takes the heat? Please . . .
Justin
March 19th, 2009
8:47 pm
People have incredibly short attention spans. Geithner has stumbled no doubt but Bush stood behind Rumsfeld and Brownie in the face of much worse failures. I didn’t exactly see Isakson or Chambliss screaming for their head on a platter then. Much easier to huck rocks when your failed ideologies have cost all your power in congress and the white house and screaming about stuff is all you can do when you have no answers of your own.
George
March 19th, 2009
8:52 pm
I think all the bickering in this blog and all the bickering that went on during the elections proves just how divided this country really is. I am a life long Republican and I believe if Bush had spent as much time worrying about the economy as he did about Iraq and Afghanistan we would not be in this mess right now. I think Bush was elected president at a very bad time because of terrorism and katrina and did a very poor job of handling those situations. I also dont think Obama handing out trillions of dollars to anybody who needs it is the answer but I will say this. At least he if his plan doesnt work he did try something. I just hope Obama’s plan doesnt put this country in a hole it cant dig its way out of.
Ralph
March 19th, 2009
8:54 pm
How about getting someone in Washington that can do simple math? Where are the trillions coming from? Get a big broom.
Eric
March 19th, 2009
8:58 pm
So…the logic from the lefties seems to be this: Geithner shouldn’t resign because Bush, Isakson and Saxby are doodyheads. They ignore the fact that he’s a tax cheater and he now runs the IRS. They ignore the fact that he has bumbled his way through his job so far. They ignore the fact that he helped craft the original TARP that Bush signed. They ignore the lack of any detailed banking plan even though he said the details were on the way. They ignore the fact that he KNEW about the AIG bonuses and told Chris Dodd to write language in the stimulus bill to protect them.
Nope, none of that matters to the lefty sheep. He’s Obama’s boy so he gets to stay. Outstanding.
Jerry
March 19th, 2009
8:59 pm
What a load of BS. While the country struggles politicians try to play games. This is passive agressive treason.
Dr. Mike
March 19th, 2009
9:00 pm
No wonder the rest of the nation looks down on the south as redneck fools. Its in large part because of people like Isakson and especially Chambliss. What an embarrassment.
Big Dawg
March 19th, 2009
9:02 pm
Hope this clears up some of the confusion out there: Tim Terrific was appointed SecTres because he was hip deep in the TARP before W’s bags were packed and was advertised as the only pilot who could fly the plane–in spite of tax problems that would sink (or send to prison) a lesser mortal. And excuse the schadenfreude, but the whole AIG bonus thing was the creation that capitalist tool Chris Dodd.
Bugman
March 19th, 2009
9:10 pm
Google this, and tell me who started the problem: Gramm-Leach-Bliley Act of 1999
fed up
March 19th, 2009
9:11 pm
Ditto Eric @ 8:58.
scarpia
March 19th, 2009
9:17 pm
For a senate career that is remarkable by a total lack of any achievement, does Isackson have any standing to pontificate about anything? It would seem that his only goal is for the present President to fail, even at the potential cost of a second Depression.
Republican
March 19th, 2009
9:27 pm
Why don’t Isakson and Chambliss resign? Talk about the pot calling the kettle black! What have either of you done? Both worthless!
Alan
March 19th, 2009
9:33 pm
Republicans = worthless
David
March 19th, 2009
9:36 pm
Yet another example of the do nothing republican party–
where’s that plan to save the economy again– oh yeah…
tax cuts for the wealthy (didn’t we try that already?)…
Mr. Isakson, please resign and take Saxby and Bubba Purdue with you…
Audrey in Georgia
March 19th, 2009
9:40 pm
Isakson and Chambliss belong to the Grand Ole Party, the party of NO, the great obstructionists
party that need to Get Out Please!!!!! Both of you need to pack your bags and get out of the way
of progress and real change!
Jay
March 19th, 2009
9:44 pm
Republicans had 8 years with Bush and turned budget surpluses to the highest deficit in US history. Not one squeak from them when we were paying for Iraq’s hospitals, roads, schools and doling money to Iraqis to buy peace while American bridges collapse, schools close from lack of funding and homes are being foreclosed from lost jobs. Obama has been in office for 2 months and already republicans are already calling for resignations.
Where were these fiscal conservatives when we were spreading democracy in the Middle East (doling out tax payers money)??
Republicans think Americans are fools. We are not fools as shown by our votes last November (except in Georgia)…..