March 18th, 2009
03:37 PM ET
11 years ago

GOP Rep calls on Geithner to 'resign or be fired'

As the furor over AIG bonuses rages on Capitol Hill, a Republican congressman is calling for Treasury Secretary Timothy Geithner to 'resign or be fired.'

As the furor over AIG bonuses rages on Capitol Hill, a Republican congressman is calling for Treasury Secretary Timothy Geithner to 'resign or be fired.'

WASHINGTON (CNN) - As the furor over AIG bonuses rages on Capitol Hill, a Republican congressman is calling for Treasury Secretary Timothy Geithner to "resign or be fired."

"Well before Timothy Geithner became Secretary of the Treasury, he was working hand-in-hand with AIG and other financial institutions to provide them hundreds of billions of dollars of taxpayer money as one of the key architects of the financial sector bailout," Florida Rep. Connie Mack said in a statement released Wednesday. "I was outspoken against the bailouts then, and I'm even more outraged now."

"I've had serious concerns about Secretary Geithner from the moment he was nominated. In the months since, he has shown us time and again why he was the wrong choice for this critical post. This week's news on the AIG bonus scandal is but the latest fiasco under his watch and he has lost the confidence of the American people."

"Quite simply, the Timothy Geithner experience has been a disaster."

Update: Rep. Darrell Issa, ranking Republican on the Oversight and Government Reform Committee, also called on Geithner to step down.

"As one of the chief architects of the AIG bailout, Secretary Geithner was in a position to do what any lender of the last resort would do – negotiate concessions from AIG," he said in a statement released Wednesday afternoon.

"Secretary Geithner either didn't know about the bonuses, and was grossly negligent, or he did know and failed to bring this to the President's attention. Either way, the end result has been a significant waste of taxpayer dollars and he should take immediate responsibility and resign."

Earlier Wednesday, the conservative California congressman called on the White House to send him information before next week revealing "who within the Administration knew what, when" about the AIG bonuses.


Filed under: Tim Geithner
soundoff (116 Responses)
  1. Jon in Ca

    Wow – how strong is that kool-aid???

    Obama-pologists are ACTUALLY defending the incompetent tax-cheat, Gaithner, who along with Dodd GAVE the bonus loophole to AIG???

    Wow... Obama really is their messiah.

    March 18, 2009 05:24 pm at 5:24 pm |
  2. brian

    Everyone:

    Google every single one of the GOP calling for the resignation of Geithner and see what they had to say about executive pay when Paulson was ramming through the first TARP bailout.

    No shame. No shame.

    March 18, 2009 05:25 pm at 5:25 pm |
  3. Jilli

    Thanks for the laugh Connie "Hack". If republicans had one shred of credibility on economics I might take your joke seriously, but alas...it's a funny one.

    March 18, 2009 05:25 pm at 5:25 pm |
  4. Paul from NY

    Who cares what today's GOP ranters have to say about anything? While Geithner was peripherally involved in the earlier bailouts, even before being appointed and/or confirmed, he wasn't the main architect of this debacle. That would be Paulson, with Bush's blessing. CNN, why do you make this a headline on the Ticker? So a couple of Republican clowns think Geithner should resign. Big deal! And just how do they think they will have anything to say about firing him? Did someone die and put them in charge?

    March 18, 2009 05:26 pm at 5:26 pm |
  5. AP in Illinois

    Does anybody here think Sarah Palin could solve this crisis? After all she does have executive experience.

    March 18, 2009 05:27 pm at 5:27 pm |
  6. Donna from Colorado Springs

    This mess did not start with Tim Geithner and the republicans know it! This is all because of the indifference showed by the Bush administration in not keeping tabs on the excutives that were given billions and not required to act like mature business people. Bush was too busy keeping his rich friends fat and happy to worry about anything else. It was his callous indifference that led to all of this and the republicans know it! But, they will never admit any mistakes made and will blame any democrat within shouting distance for whatever is going wrong right now. Bush had eight long years to screw the U.S. up and he did a wonderful job!

    March 18, 2009 05:27 pm at 5:27 pm |
  7. Chris

    Please give me a break. How are they to make a request like this? I mean seriously, folks are pointing fingers at Timothy and the contract for the AIG bonuses were done last year!!! Folks really need to get their fact straight before you go pointing fingers!!!
    It just goes to show the Republicans will try anything to pin the problems on the economy on the President and his staff. They don't want to work on getting problems resolved they just want to find and start mess!!! GET THEM ALL OUT OF CONGRESS!!! THE REPUBLICANS ARE ALL WORTH LESS!!! All GOP supporters would do well to vote all sitting Reps and Senators out and put some new ones in!!!

    March 18, 2009 05:27 pm at 5:27 pm |
  8. Sammy from San Jose

    Whoever is saying Obama is doing TOO MANY things at the same time IS in idiot!!!

    1) HealthCare Reform – it is the biggest cost / drag on our costs (& so, the
    budget)
    2) Education – the ONLY way to stay more productive and succeed
    3) Afghanistan/ Pakistan – NO CHOICE
    4) Deficit Control – the Chinese are planning to sell our Treasury notes!!!

    So wake up, you MOURONS....

    Ofcourse you cannot miss the Cheney & Bush – they did NOTHING but skrew us all, so anyone who does SOMETHING looks like he is doing a LOT 🙂

    March 18, 2009 05:29 pm at 5:29 pm |
  9. MD

    This mess was started last fall. Long before the new administration got in office. However, I think Geithner is toast. He wasn't able to talk to the American people anyway, which was a critical requirement for the role of Treasury Secretary. Atl least at this time.

    So this turned out to be a bad decision on President Obama's part.
    Lucky for me, I knew the President wasn't going to be perfect. Just much better than what we had. Pity so many imperfect people (the media included) expected him to be something that they are not...

    March 18, 2009 05:31 pm at 5:31 pm |
  10. Matt in MN

    @Frank in Phoenix "Fire him? Yeah, he's incompetent but he may be the only Obama appointee to have actually paid taxes!"

    Actually Geithner DIDN'T pay his taxes, he just happened to be the first of the Obama appointments to go before Congress. While what he had unpaid wasn't AS bad as Daschle's, he only paid the original amount, none of the late fees / penalties and interest.

    He IS in over his head, this is just another blunder proving it. Every time he talks, the markets drop.

    March 18, 2009 05:33 pm at 5:33 pm |
  11. Archi

    A reply for Mari.
    I am with you on this one.
    But you must understand you are talking to Republicans.
    If they had any brains they would not have been republican!!!

    March 18, 2009 05:33 pm at 5:33 pm |
  12. Rick

    The buck doesn't stop at Geithner....his boss needs to be held accountable but of course, the liberal media will not raise that issue. This is what you get when you elect an unaccomplished community organizer to the office of President of the United States.

    Change you can believe in.

    March 18, 2009 05:33 pm at 5:33 pm |
  13. Cali Girl

    From an earlier post.

    The top ten recipients of AIG donations for the 2008 election cycle:
    Sen. Chris Dodd, D-Connecticut: $103,100
    President Barack Obama: $101,332
    Sen. John McCain, R-Arizona: $59,499
    Secretary of State Hillary Clinton: $35,965
    Sen. Max Baucus, D-Montana: $24,750
    Former presidential candidate Mitt Romney: $20,850
    Vice President Joe Biden: $19,975
    Rep. John Larson, D-Connecticut: $19,750
    Sen. John Sununu, R-New Hampshire: $18,500
    FormerpPresidential candidate Rudy Giuliani: $13,200
    _____________________________________________________

    CNN,

    I know for a fact that these numbers are incorrect. I heard that CNN was incorrect on this story from other numerous sources that actually did their homework, instead of quoting from Faux News. You should have re-checked those figures before you started to wildly swing to the right on this issue.

    March 18, 2009 05:34 pm at 5:34 pm |
  14. Jefe

    Yes, fire him and get someone who is NOT part of the so-called "Federal" Reserve to take over.

    March 18, 2009 05:35 pm at 5:35 pm |
  15. Linda

    There were no bonuses given out; it was retention for work to be done by the experienced employees so AIG would not go belly up. After the work was done, the employees left. Is anyone listing to Mr. Libby. The republicans want this to fail so they can get back in power and we will be in worst shape then before.

    March 18, 2009 05:35 pm at 5:35 pm |
  16. Mike

    the community organizer is going to be impeached . . .it's in the works now...

    March 18, 2009 05:37 pm at 5:37 pm |
  17. Steve (the real one)

    1. Since he was "The ONLY ONE" one who could do this job, he was rammed down our throats!
    2. In charge of enforcing the tax laws but he couldn't obey them.
    3. Came from the SEC and was supposed to keep an eye on Wall Street. He failed!
    4. Was to brief the nation on a recovery plan several weeks ago! He didn't have one! He failed!

    GO HOME!

    March 18, 2009 05:37 pm at 5:37 pm |
  18. arithmetic is liberal

    Geithner looks a little like the villain from Ghost.

    Just as a note to both sides of the debate:

    Can you PLEASE stop referencing Kool-Aid?

    I have a good feeling that the people doing it are either too young to remember the whole Jim Jones People's Temple, or just simply don't care to the point where they are willing to make their bad analogy on the backs of pictures of dead children lying bloated in the sun.

    March 18, 2009 05:38 pm at 5:38 pm |
  19. spencer

    He should resign, but keep this in mind: we do not have a treasurer yet.

    March 18, 2009 05:38 pm at 5:38 pm |
  20. thanks, but no thanks

    To Beth!
    before speaking "your mind", try to collect all the facts. TARP money which went to AIG was approved by congress last year. As you well know, but would like to hide the fact, democrats called for more restriction on how that money should be spent. Republicans who are calling for secretary Geithner to resign were against any restriction. As the end result, AIG who promised the bonuses under contracts from 2008 is obliged to pay them. So to make the story short, blame the messenger for the bad news. l am sure you will disagree....

    March 18, 2009 05:39 pm at 5:39 pm |
  21. No Hillary = No Obama

    Another Obama mistake. Obama picks this tax cheat and then won't dump him when that was the ethical thing to do instead making some high-falutin rationalization about how he's the best "man" for the job. People better get beneath the surface of Obama soon to separate the grist from the empty suit.

    March 18, 2009 05:39 pm at 5:39 pm |
  22. pam

    The republicans need to just shut up already.........................................

    March 18, 2009 05:39 pm at 5:39 pm |
  23. Preston

    Actually, Mr. Mack, as the last election made abundantly clear, it is the Republican party that has "lost the confidence of the American people". Apparently, you failed to receive the message, wrapped as you are in the cocoon of your safe, solidly conservative west Florida coast congressional district. It took Mr. Bush eight years to destroy our economy, in large part by the deregulation of which you have been such a champion. Perhaps you will have the good grace to allow Mr. Obama and his team more than a few weeks to try to undo the devastation. If you and your colleagues would try to be more useful to OUR President, instead of reflexively and relentlessly obstructionist, it might benefit the American people of whom, after all, you are an employee.

    March 18, 2009 05:41 pm at 5:41 pm |
  24. Wayne from Fullerton

    The guy has been on the job for less than two months. And the bonuses are not his fault. They were allowed to happen by a clause in the bailout package that allowed contracts before Feb. 2009 to be honored.
    Quit whining about others and do something yourself. Giethner is working his butt off.

    March 18, 2009 05:41 pm at 5:41 pm |
  25. an american first

    Timothy Geithner have had 8 weeks and folks are asking him to retire. It is amazing to me that these same folks are saying NOTHING about firing the CEO and the other executives at AIG who are really the problem. This is politics at its best and you all know it. Just think for a moment – how is this Geitner's fault? AIG is NOT run by the government – but ONLY FUNDED by the governement. Big difference... Geitner did not authorize these bonuses. To say that he is the "Fall Guy" is absurd at best.

    March 18, 2009 05:43 pm at 5:43 pm |
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