TREASURY SECRETARY FORUM--Jacki Zehner Urges Geithner to Give Us Truth

Posted November 24, 2008

To Timothy Geithner:

As the new Treasury Secretary, you will have to take a dramatic turn from approach of the former one, Hank Paulson.  First of all, you will have to do your best to speak the truth, no matter how scary the truth might be. Earlier this year, we heard from the administration that everything was ok.  Clearly, it was not.  Please don’t tell us what you think people want to hear, but tell people what is really happening.  The truth always comes out, always.  Credibility should be a top priority. Second, you must not tell Americans to just keep on spending.  Yes, we need to keep the economy going, but we need to focus on responsibly spending and debt management.  Further to this point, the government has to set the example. We cannot allow the government to recklessly increase the budget deficit.  We do need to spend, but spend responsibly.  It is the Treasury Secretary’s job to advise the President and other decision makers what the consequences of a reckless fiscal policy will be. Third, you must consult more independent and diverse thinkers.  People talk their position.  If you are consulting the Masters of the Universe who manage billions of dollars of their and other people’s money, it is impossible for them to be objective.  Impossible.  Please take heed.

Sincerely,

Jacki Zehner

Purse Pundit

 

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