Geithner: Improvements coming faster than expected

Truth or wishful thinking? I don’t know, I am only posting this crock of shit so that I may refer back to it a year from now


“In the United States, the rate of decline in economic activity has slowed, business and consumer confidence has started to improve, housing markets have begun to stabilize, the cost of credit has fallen significantly and credit markets are opening up,” Geithner said in remarks prepared for delivery in Jeddah, Saudi Arabia.”

If I may be so bold, that is entirely Mr. Geithner’s opinion. The key word here being “opinion” as it most definitely is not fact as attested by a housing market that is still declining (as is commercial real estate I might add); the cost of credit default swaps is widening and, at any rate, the cost of mortgages has moved up significantly in the past three months which, I might add, is contrary to what Geithner and Bernanke wish; and as a direct consequence of the latter, credit markets have most certainly NOT opened up.

But he is Geithner and I am me. He certainly carries a lot more weight than I do.

Time will tell


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2 Responses to “Geithner: Improvements coming faster than expected”

  1. guidoamm Says:

    Double HA!!

    “As the recession’s gotten worse in the last six months or so, we’re seeing increased vacancy, declining rents, falling prices — and so, more pressure on commercial real estate,” Bernanke said yesterday. “We are somewhat concerned about that sector and are paying very close attention to it. We’re taking the steps that we can through the banking system and through the securitization markets to try to address it.”

    One of the main issues for the industry is that the market for debt backed by commercial mortgages “has completely shut down,” the Fed chief said yesterday.

  2. guidoamm Says:


    Moody’s says U.S. commercial real estate markets’ decline accelerates

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