Treasury Secretary Timothy Geithner is out of his leagueI sought him, but I could not find him; I called him, but he gave me no answer.
—Song of Solomon
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Any U.S. Treasury Secretary worthy of the position instinctively should know, as a matter of profound, humanist principle that, a house is a home and not an investment. This is where any discussion of the U.S. residential mortgage market should begin and end. Thus, this matter for any competent Treasury Secretary strictly should focus on the capacity for Americans to be part of a durable, stable, enduring, wealth-generating, economic machine amply providing income, as well as affording respectable savings, that homes readily might be purchased. Indeed, this arrangement, alone, would serve the "equity" position of American homeowners, as Secretary Geithner believes necessary.
Yet Mr. Geithner plainly is not focused as the U.S. Treasury Secretary should be. No! The man rather believes that, phantom "efficiencies" theoretically built into a highly leveraged, securities-based financial system can best provide for American homeowners. Yet Nature's Law reveals a devil ignoring those not insignificant forces involving power and greed, such as doom these "efficiencies" to devolving into conditions bringing hardship upon tax paying Americans, and this no matter which agencies serve to bolster confidence in the scheme. Truth is not even U.S. Treasury backing, and this today to the tune of tens of trillions of dollars, can alter this, Nature's Law. Thus, the Treasury Secretary only hastens the demise of the nation's finances adhering to this securities-based model of finance that, already is three years into having been proven ultimately insolvent.
Very simply, the Treasury Secretary is defending a debt trap while the nation degrades to the verge of ruin. You should know this, that as the nation further descends into the abyss, you might calmly sweep aside the likes in favor of something decidedly more boldly American.
—Tom Chechatka
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