No Confidence in Geithner

Senator Paul has followed through on his promise during the August recess to introduce a resolution calling for a vote of no confidence in Treasury Secretary Timothy Geithner. http://www.youtube.com/watch?v=39zqOObjaPs

WASHINGTON, D.C. – Sen. Rand Paul today introduced legislation and took to the Senate floor to call for a Senate vote of no confidence in Treasury Secretary Timothy Geithner. The passage of the motion indicates that the U.S. Congress has no confidence that Secretary Geithner will institute policies that will reverse the downgrade in America's debt and our current economic insolvency. Immediate action on the no-confidence vote was blocked by Senate Democrats.

“The current Administration’s gross mismanagement of the U.S. economy, at the helm of which has sat Secretary Geithner through financial debacle and decline, must end now,” Sen. Paul said.

The language of the resolution simply states that both Congress and the American people have lost confidence in Secretary Geithner.

Sen. Paul’s motion stems from Geithner's failure to institute policies to curb rising unemployment, prices and debt. During his tenure at the Federal Reserve and as Treasury Secretary, Secretary Geithner had a direct role in the failure of the Fed to diagnose and act on the housing crisis. He presided over bank bailouts, auto bailouts and failed trillion-dollar stimulus plans.

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