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Interview with Tim Geithner on Charlie Rose Show

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By ZENWAY - Posted on 14 March 2009

"I don’t know why the administration is so torn between coming up with a plan to “get the credit flowing again” and making sure the taxpayers gets an adequate return on their investment. If fixing the banking system is as important as Geithner and Obama say, they should stop worrying so much about minimizing risk to the taxpayer. The administration sure didn’t seem this concerned about not wasting taxpayer money when it was lobbying for its stimulus plan." (Tom Brown, Bankstocks)

"At, we think the taxpayers should risk it all to save the banks. The banks are chickens. Their corporate income taxes are eggs. If we don't save the chickens, we lose all the eggs down the road. If the taxpayers let the big banks fail. All investors around the world would forever lose confidence in the American capital system. Stock market would crash further like never before. The loss of future tax revenue on income and capital gains from the entire economy far out weigh the temporarily painful investments in the distressed assets. If you let the chicken die, you lose too many years of the eggs in the future. It would take too long for the new chickens to lay eggs. Just look at 1929 to 1933. America, save the financial system to save your tax revenue for the next five years." (Brian Zen, CFA, Zenway Group)

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