April 18, 2011
Veteran broadcast journalist Lou Dobbs has scolded Treasury Secretary Timothy Geithner’s open threat that the US may default on it’s debt should Republicans in Congress refuse to raise the debt ceiling, noting that the statement is akin to financial terrorism.
Appearing on the nationally syndicated Alex Jones show last Friday, Dobbs expressed disgust over Geithner’s statements to Congress last week, and called for more scrutiny from watchdog groups and the national media.
“Our Treasury Secretary Timothy Geithner is somewhat limited in his outlook towards the consequences of a decision that would be taken not to raise the debt ceiling.” Dobbs told Jones.
“He has a relatively either limited knowledge of banking itself, or of the role of the federal government when it comes to the Treasury Department.” he added.
“Default is not a requisite or a logical conclusion to not raising the debt ceiling. There are choices to be made by the administration should the congress elect not to raise the debt ceiling. None of those decisions require default, and anyone who says that it does is utterly and completely mistaken.” Dobbs continued.
The trailblazing journalist, now hosting a regular nightly show on Fox Business after leaving his long running post at CNN, had more stark words for Geithner and the officials around him at the Treasury.
“Not a single person that I respect with a knowledge of finance, public or corporate, would support their view.”