It is becoming a common refrain, this idea that any plan with Geithner's name on it anywhere lacks detail. The IMF is only the latest critic to level this accusation.
U.S. Treasury Secretary Timothy Geithner's plan to fix the financial system lacks "essential details," the International Monetary Fund said in criticism of its largest shareholder.
The IMF, in a report released today, said "more specifics will be needed to calm frayed market sentiment." The Standard & Poor's 500 Index, which has gained in six of the past seven days, is still down 8.7 percent since Geithner outlined his financial stabilization effort on Feb. 10.
In the same way the market senses weakness and is attracted to blood in the water, Geithner seems to be attracting any number of predators ready to clamp their teeth into the guy. The latest AIG mess, which has Geithner's fingerprints all over it, has added to the impression that The Safecracker isn't long for his position. At least one Congresscritter has called publicly for his ouster, and that's not all: When Code Pink has got your name in the cross hairs, look out, baby.
Tim, take it from us, your next plan better be 650 pages and have 50+ exhibits attached in front of 900 footnotes.
IMF Criticizes Geithner's Bank Rescue Plan as 'Lacking Details' [Bloomberg]
AIG Firestorm Has Democrats Edgy About Geithner, Team [Bloomberg]