December 03, 2009
Geithner Discovers Regime Uncertainty ... (Updated)

... and uses it as a rationale for passing the monstrous health care bill. Here's a snip of his interview today with Fox Business Network's Liz Claman:

CLAMAN: Businesses investing again, they need to, they want to.

But I have to tell you, I talk to a lot of CEOs. So do you. And in advance, I told them I was going to be talking to you. And they said, look, we don't have a lot of this ability. We don't have clarity on where interest rates are going to be, what energy costs are going to be, what the health care situation is going to be. They would love some of that visibility clarified.

GEITHNER: They want -- businesses want certainty. They need certainty so they can make long-term plans today. And that's why it's so important that Congress gets health care behind us, that we bring financial reform in place so people know what the rules of the game are. And that's a very important thing to do. And that's why we're working so hard to make sure we bring clarity quickly.

UPDATE: Newsweek's Robert Samuelson also weighs in on regime uncertainty: "More important, the decision to press controversial proposals (health care, climate change, taxes) was bound to increase uncertainty and undermine confidence."

So does NPR--listen to the last 15 seconds of this story.

Posted by E. Frank Stephenson at 10:59 PM in Economics

The statesman who should attempt to direct private people in what manner they ought to employ their capitals would not only load himself with a most unnecessary attention, but assume an authority which could safely be trusted, not only to no single person, but to no council or senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it. -Adam Smith

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