Like him or not, this time he has a valid point.
CNBC rabble-rouser and "Mad Money" host Jim Cramer questioned the merits of Timothy Geithner, President Barack Obama's Treasury Secretary-designate, and told viewers on CNBC's Jan. 22 "Street Signs" that, had he been in Geithner's shoes, he'd face criminal prosecution.
"I happen to have a meeting with my lawyers just to discuss this - with my battalion of lawyers, the $2,000-a-hour gang - and you know, they would say if it was Cramer, I would be prosecuted, maybe criminally prosecuted," Cramer said. "And my lawyers were somewhat shocked that on Chris Matthews I said it was OK, given the fact they said Geithner better get himself the best lawyer in town."
Cramer had been vocal about with his criticism of Geithner before Obama tapped him to lead the Treasury in November. He wrote on TheStreet.com in a Nov. 7 blog post that if Geithner were confirmed, "We are done, finished, kaput. It is that simple." But later in the month he backed of his harsh rhetoric on NBC's Nov. 24 "Today."
"He's a smooth hand," Cramer said. "I wish he weren't involved with what's gone wrong but the transition is bold, smart, fast, good."
Cramer told "Street Signs" host Erin Burnett he had given up on fighting the Geithner confirmation and suggested it was best to go ahead and confirm. He also said he had been asked to back off criticizing Geithner at the behest of some on Wall Street.
"I say it doesn't matter," Cramer said. "I say we got to confirm him. It's too late in the game. The guy got a free pass. There's no one - look I've been told by Wall Street, ‘Stop it already with Geithner.' It's been going on for months that I've said Geithner's the wrong guy.
Cramer had associated Geithner with some of the woes that caused the market setbacks last fall.
"So, you know what? I lost, I lost on this one. I told the American people on my little show that this one would be a disaster. But you know what - everybody on Wall Street - all my buddies that lost billions for you, for the American people, told me, ‘Jim, he's the greatest.' Well, now everybody's discovering the truth," Cramer said. "He's all yours partner."
The media have downplayed the Geithner tax evasion issue. ABC "This Week" host George Stephanopoulos called the whole issue a "speed bump." However, Cramer said if it were him - it'd be jail time.
"Hey forgive me for saying this, but my lawyers are saying, ‘Jim, if it were you, be prepared to go down.' And I'm not talking about losing no nomination. I'm talking about the Shawshank Non-Redemption."
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Isn't it the truth!
January 22, 2009 - 20:37 ET by DEVILDOCMOMI cannot believe this man is still up for consideration. All of us on this site know if this happened to anyone of us we would be in a world of hurt. And for a person at this level to use a canned tax program…how can people in the Congress vote for a tax cheat?
3 executive orders in 2 days, how about the first pardon,
January 22, 2009 - 20:41 ET by upcountrywatermake it so oooooooobama.
FREEDOM
(D)
He hates Obama!!!!!!!
January 22, 2009 - 20:54 ET by NC CopRacist!!! Racist!!! Racist!!!! He should be investigated and arrested for hate speech!!!!!!!
Getting away with it.
January 22, 2009 - 20:57 ET by Solrac7Time for the tax revolt. If this clown can get away with not paying his taxes then why not the rest of us. As the leader of the treasury, he sets the example and policy. His policy so far, lie, cheat and claim ignorance. If enough of us do the same, the IRS and the courts will be overwhelmed and our tax system will collapse. Probably won't stop Obama though. He will just continue to print money!
Did anyone read the article by Dick Morris. It is on Drudge and it is scary where we are going. We are in for the time of our lives!!
Tax revolt
January 22, 2009 - 21:01 ET by sherylsimsSo... who wants to go first?
My sentiment exactly
January 22, 2009 - 23:09 ET by avenarIf Geithner can get away with it. Why can't I?
Can I use this argument in court?
Because
January 23, 2009 - 05:15 ET by DragonsbreathTwo main reasons...
One you are not a Democrat.
Two you obey the law?
I would like to see everyone refuse to pay taxes this year until this guy is out. Also refuse to sign the paper for a job saying you are authoried to work in the US. I can not recall what it is called right now..
We had honest Abe, now we have dishonest Obama..
Jan 20, 2009 The day the Jan 20, 2009 The day the constution died died... RIP.
Obama should pardon Richard Hatch
January 22, 2009 - 21:07 ET by legacyrepublicanHell, if this guy is the good stuff, then pardon Richard Hatch. After all, he is gay and would have voted for you Mr. O!
P.S. You know, Richard Hatch, Survivor who said he made his $1 million overseas and didn't owe all that money.
P.P.S. Or how about Mr. Wesley Snipes who protested his taxes? He deserves a pardon too while you are at it Mr. O!
LR
January 23, 2009 - 02:33 ET by thebutlerdiditGreat point, if Geithner deserves to be the big cheese money dude, then let these guys off the hook. I think Cramer is slightly deranged, but he made some sense here. I like how he says he told everyone and told everyone, and he was being pressured by the Wall Streeters to keep quiet. That was funny. He's all yours now, partner! LOL
My quarterlies are coming due, I think I'll blame it on that mind-twisting Turbo Tax, and just skip the check.
Bringing the government in to run Wall Street is like saying, "Dad burned the dinner, let's get the dog to cook." PJ O'Rourke
Another historic first
January 22, 2009 - 21:10 ET by 10ksnookerThe first tax cheat to be Sec of Treasury.
What's with the Democrats and their taxes? I thought it was patriotic to pay taxes.
I doubt if he was the first.......
January 23, 2009 - 06:39 ET by old croonly the first caught.
I find the brazenness of Dear Leader rather amazing...
January 22, 2009 - 21:10 ET by R D Helm...and not a little disturbing.
He willingly picks this guy, knowing he has these issues, and stands there in a mocking tone, as if he is daring anyone to oppose this clown.
Sorry, but the only thing Geithner should be awaiting is trial for tax evasion, not a cush gig running the Treasury Department.
Are there any standerds left?
Where the hell are the republicans?
-Dave
“Them that’s going get on the wagon. Them that ain’t get out of the way.” -While there is still time.
The Department of the Treasury...
January 22, 2009 - 21:24 ET by CapeCodScottHere's the Kicker...The Secret Service is under The Dept. of Treasury...
www.ScottOnCapeCod.com
"Most men lead lives of quiet desperation"... until they get fed-up enough to finally say something about it!
Just One Question?????
January 22, 2009 - 21:27 ET by BourbeauWhat exactly did Martha Stewart go to jail for? My recollection was, it wasn't anywhere near as egregious an 'error' as this moron portrays. More specifically, a mistake, an error, is one return for one year. If you carry it forward to two years, you're now intentionally filing incorrect tax returns. If you continue to do it in years three and four, despite knowing you're signing certifications that you've will actually pay the taxes with allowances paid you, and then don't, you're now into defrauding the government of taxes owed. If he were still working w/the IMF, they would be justified in firing him. But now, in this country, TAX CHEATS have become indispensable. What a country!!!!!! Oh, by the way, since when is their a statute of limitations on filing errors that have carried over consecutive years - who in the IRS made that determination?
TIM-MEH!
January 22, 2009 - 21:41 ET by BondPlainBondOkayyyyyyyyyyyyyy
Geithner, and the approving members of the Committee, have set a precedent.
No one, absolutely no one who 'honestly forgets' to pay their income tax, including all those that file with TurboTax and ignore the built-in warning flags that automatically pop up to tell you've a portion of taxes which need to be paid for that line item... not a single soul should be prosecuted in any manner, shape, or form. And, above all, absolutely no interest should be paid if there ever is a nominal penalty assessed.
The United States government, specifically the Obama Administration, is, by moving Geithner one more step along in the process of his Treasury Secretary nomination, condoning tax cheats and believe they should be rewarded.
A very bad example, something to which our children will one day point and say, "he cheated and he was promoted for it and put in charge of the agency he cheated."
Completely uncool.
Taxes
January 22, 2009 - 21:53 ET by Lakewood BobRemember Leona Helmsley; "Only the little people pay taxes." Like all of BO's appointees, Tiny Tim is special and therefore he deserves and gets special consideration. On a positive note however, he has paved the way for all the businesses across the country to pocket their Social Security payments for their own use instead of forking it over to the FED. Maybe he will become a poster "Cheat" for privatization of your Social Security payments instead of dumping them into the current blackhole! Congress and the Administration should set the example; don't you think!!
This is an absolute "finger" taxpayers
January 22, 2009 - 22:01 ET by c5thenIf you look at what "mistakes" Geithner has admitted to, he either has to be a total incompetent who is incapable of even using TurboTax or he is a tax evader and criminal. There is no middle ground.
Any Senator who votes to confirm Geithner ought to be impeached themselves or at the very least recalled by their constituents.
Look at the people that Obama is surrounding himself with...this is shaping up to be the most corrupt administration since U.S. Grant.
Hey, I got the wrong "CHANGE"!
Alan Keyes / Sarah Palin - 2012
My new tax plan
January 22, 2009 - 22:10 ET by txcoMy new plan is to just stop paying taxes until I get nominated for a political office.
Wesley Snipes
January 22, 2009 - 23:01 ET by slickwillie2001Wesley Snipes was found guilty of tax evasion and sentenced to three years in jail. He is presently out while his case is being appealed. I wonder if Geithner-gate is going to change his legal strategy going forward?
Geithner tax "mistakes"
January 23, 2009 - 00:02 ET by merlin61Putting the fox in charge of the hen house!!!!!
This is a big subject at my
January 23, 2009 - 00:24 ET by maggieqpublicThis is a big subject at my house.
We’ve completed our own tax returns and paid estimated taxes for many, many years. We pay the estimated taxes on time, or we pay penalties and interest.
The idea that a candidate for Secretary of the Treasury failed to pay taxes for the years that had fallen outside the ‘statute of limitations’…. do you think he might know there is no statute of limitations when the subject is tax fraud?
We’re angry about this, and we don’t like the ‘bend-over’ Republican response.
I’m calling Congressional offices tomorrow…. won’t do any good other than to make me feel better.
If this were a George Bush nomination… oh, never mind.
I also had personal experience with this.......
January 23, 2009 - 07:07 ET by old croWhile working as a "job-shopper" back in the 90's, I had an opportunity to work on my own (cut out the middle man, be responsible for my own health care, taxes ext.) and took it. The company paid me direct weekly, and I was warned by others to pay quarterlies and put money away for other uses. Being young (30's), with a growing family and numerous other expenses, I negleted to pay my quaterlies. The next tax season saw me penalized by the IRS for my neglect.
My question is......I am a small fish in the pond that was scooped up oh so quickly, how did this one get by for so long, especially with the IRS knowing his place of employement and their proceedures? Shouldn't that alone have been a red flag to someone at the IRS?
More questions....Wasn't this the Clinton IRS in place at the time? You know, the one that investigated all the conservatives that gave the administration grief over policies, proceedures and assignations?
Geithner should be prosecuted for tax evasion
January 23, 2009 - 09:06 ET by kevinm13I propose that if Geithner becomes Secretary of the Treasury (his signature would go on the currency and I know that the Senate Finance committee approved him 18-5 so it is a matter of the rubberstamp vote in the Senate), we should all write on our bills under his signature "tax cheat" or "unpatriotic" as Joe Biden called Joe the plumber about his tax problems.
Any otherperson would be tossed for tax evasion and he willingly evaded taxes until he was nominated by 0bama for this position in November. He didn't pay taxes from 2001-2004 for money he earned for being on the IMF which didn't deduct for taxes but told him that he had a liability. I believe there was also a "nanny" tax issue as well. I don't care how so-called brilliant he is, as Cramer said, if it was one of us, we would be prosecuted and sent to jail. This should disqualify him from being Secretary of the Treasury and any other cabinet position.
I cannot believe that Tax
January 24, 2009 - 01:32 ET by TN MomI cannot believe that Tax Cheaters Geithner & Rangle will be in charge of the IRS. They should be in jail! JAIL!
If they don't have to pay taxes neither should the rest of us.
April 15th, 2009 the new Independance Day!