Posted by: franklynchusa | January 23, 2009

Obama Needs to Learn About Ethics, Finance and the Economy

Nobody in Obama’s administration seems to know anything about jobs because all of them are lifelong government and/or education system employees whose experience with the private sector is limited to incompetent, idiotic and failed supervision of the private sector.

The Obama Administration’s closest experience with the private sector is Timothy Franz Geithner(pronounced GITE-ner) (born August 18, 1961) who was the 9th president of the Federal Reserve Bank of New York. In that role he also serves as Vice Chairman of the Federal Open Market Committee (FOMC). Geithner is President Barack Obama’s nominee to succeed Henry Paulson as United States Secretary of the Treasury.

As President of the New York Federal Reserve Secretary Geithner did a splendid job of overseeing the banking system in hte  New York District. Under Geithner’s watchful, professional and diligent eye the entire commercial banking system of New York, and the entire securities industry headquartered in his Federal Reserve District succeeded fantastically, succeeded amazingly implementing well thought out strategies and tactics to maximize executive compensation while simultaneously destroying totally the financial systems of America.

Clearly Tim Geithner is man most qualified to lead the reorganization of the mess of which he supervised the creation, because he sat in on every mistake, every miscalculation, every fraud, every deception, every step of destroying America’s and the entire world’s financial system.

To make matters worse, we learn that Geithner did not pay roughly $34,000 which he owed for four different years covering Social Security, Medicare and Unemployment taxes until eight years later.

He claims he did not know he owed those taxes, that it was a “common mistake.” I believe it is a crime to give false testimony to a Senate Committee, and Geithner is guilty of that crime. How can I be sure? Because his employer in each of the four years in question sent him four letters informing him that he must pay those taxes and even telling him which tax form to use.

Further, these numbers appear to be false. The tax rate is roughly 15%. Dividing $34,000 by 15% and dividing by four years indicates gross pay of roughly $57,000 a year. Are we to believe that this Master of the Universe worked for four years for less pay than the average pay of a nurse in Chicago?

Everything is a lie.

Finally, Obama says this is a minor matter.

That is yet another lie, but it is more serious, because now we have the President of the United States lying to the nation!.

Since Geithner’s employer repeatedly sent him letters telling him what to pay, Geithner made a conscious, premeditated decision to not pay those taxes. Given the size of the crime, doesn’t it appear to be a felony?

Yet the IRS only charged him interest and did not assess the penalties. As I read the irs.gov website, the penalties are 50% a year. If you or I committed this felony, we would be in jail. If a friend of Obama does it, he is appointed to oversee the rescue of the financial system that he helped destroy.

Is this the way Obama seeks to inspire us?

Emperor Obama has no clothes.

The Emperor is naked of economic knowledge.

The Emperor is naked of ethical and moral judgement.

Change you can believe in.

January 23, 2009

© 2009 Frank Lynch USA LLC

Advertisements

Responses

  1. With Democrats like you, WHO NEEDS NEWT GINGRICH or ANN COULTER for the same matter …

    FRANK THE FUTURIST REPLIES:

    As a Democrat I am outraged when the Democrat for whom I voted, and whom I depereately wish to succeed, insteaad disgraces all of us, both Democrats and Republicans, not only by violating his promise of transparancy by restricting press access, but even worse, by lying to the public by desscribing a felony as a common mistake, and then appointing the alleged felon, whose history proves he failed at his last job, to oversee the rescue from the disaster that he in fact wrongly supervised.

    I desperately want Obama to do better for us.

    I voted for him and I want him to keep his promises. I got my family, friends and neighbors to vote for Obama.

    On the wall above my desk are framed the ten $5.00 bills that Mayor Daley and Acorn did not give me for each of my absentee ballots voting for Obama. I intended in good faith to donate them to Obama’s campaign, but I gave in to Chicago Democratic principles and “forgot” to donate them. If Acorn had invited me to their Neighborhood Ball I might have “remembered” to donate the vote money, but they didn’t, so like Timmie Geithner, I “forgot.”

    Our great Democratic party principles do not include appointing felons to high office and lying to the voters about it.

    Barack Obama, live up to my support of you, please.

  2. I agree with you that President Obama should drop Geithner immediately.
    The taxes that he did not pay were for Social Security and Medicare, not income taxes. That’s why they are lower than you would expect.
    It is really galling that the IRS waived the penalties when he paid up.
    The president’s oratory about ethics and morals is meaningless if he does hold his nominees and himself to the highest standards.

    FRANK THE FUTURIST REPLIES:

    I know they did not include income taxes, which he did pay. My calculation was just for Social Security, Medicare and Federal Unemployment taxes for which he was liable and did not pay.

    The reason it is 15% instead of the 7.5% deducted from our paychecks is that he was considered self-employed and therefore had to pay both the employees 7.5% and the employers share of 7.5% totalling 15%.

    The average salary thus correctly calculated is in fact $57,000, which is less than the average nurse earns in Chicago, and that is simply not believable.

    Geithner is a truly elite Master of the Universe and would earn that much for one or two speaking appearances, not for a full year of work.

  3. Aren’t you overreacting a whole lot of bits … ?!!!

    FRANK THE FUTURIST REPLIES:

    Hey, the truth is the truth.

    Next you will want me to donate my voting money.

  4. Correct me if I’m wrong … you were paid to vote?!!!

    FRANK THE FUTURIST REPLIES

    What, you’ve never been to Chicago?

    My great grandfather taught us that you always make the Democratic Precinct Captain give you a dollar every time you vote, many times, all day long when possible.

    My Polish great grandfather said “Old country no good, very bad, you do not ask about it. There you cannot vote. Here they pay you to vote. You American now, learn English, make money, vote a lot”

    Acorn makes it even better.

  5. Hi Frank…Thank you for your comment here was my reply 🙂

    You are a trip, i was LMFAO on your comment. Thank you for teh love and im happy you like the blog. LOL the picture is not strippers lol i am a big victoria secret fan and the pic is from a group of the models from the fashion show, i cropped and only showed the lingerie..lol, and they are not all white, they are black asian and etc..lol i’ll hit you up on your blog

    Bless!

    You are a trip, i was LMFAO on your comment. Thank you for the love and im happy you like the blog. LOL the picture is not strippers lol i am a big victoria secret fan and the pic is from a group of the models from the fashion show, i cropped and only showed the lingerie..lol, and they are not all white, they are black asian and etc..lol i’ll hit you up on your blog 🙂

    Bless!

    http://wandaphullworld.wordpress.com/

    FRANK THE FUTURIST REPLIES:

    LOTS OF LOVE TO YOU AND ALL THAT BEAUTY OF BODY AND SOUL


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories

%d bloggers like this: