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Author Topic: "GOP drafts bill to prevent Geithner from voting for IMF loans to EU members"  (Read 950 times)
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WhiskeyGirl
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« on: May 11, 2010, 08:09:11 PM »

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GOP drafts bill to prevent Geithner from voting for IMF loans to EU members
By Molly K. Hooper - 05/11/10 06:51 PM ET

House Republicans are drafting a bill that would force Treasury Secretary Timothy Geithner to vote against IMF loans to European countries.

The legislation is a response to the European Union and International Monetary Fundís bailout of Greece, and possible future aid to other debt-ridden European countries.

The IMF and EU have agreed to create a nearly $1 trillion fund that would offer loan guarantees to any country that needs the help. The idea is to prevent turbulence in financial markets and currencies given the wariness with which traders are viewing Europe.

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Republicans question whether the bailout will work, and stress that U.S. tax dollars should not be wasted.

More money down the toilet?  More debt forced by Obama on the backs of hardworking and unemployed Americans?

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Republicans have seized on the issue to argue that the administration should not be supporting an IMF bailout of Greece when the U.S. and several individual states have their own budget problems.

The Greeks retire in their 50's and retirement for Social Security is almost 70.  American money is going to support this?

more here - http://thehill.com/homenews/house/97341-gop-drafts-bill-to-prevent-geithner-from-voting-for-imf-loans
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