In a must-read interview with Herman Wang, Senator Bob Corker discusses the ongoing credit crisis on Wall Street, Treasury Secretary Timothy Geithner's track-record thus far, and the Obama administration's plan to assess financial institutions' solvency through stress tests:
Until we cause these (banking) institutions to acknowledge the true value of the assets they have on their books and have appropriate capital injected—in other words, that’s going to mean significant write-downs in asset values—we are not going to solve our credit situation. [...] Until that happens, people are not going to invest in our financial institutions with private money. And financial institutions are not going to be lending in the way they have in the past. And this creates a self-fulfilling prophecy. That is what is driving our economy into the ground right now.
Senator Corker is the junior senator from Tennessee. He sits on the Senate Banking, Housing, and Urban Affairs Committee.
David Morton
mwillingham on March 24, 2009
Is it too early to say "Corker 2012"?
David Morton on March 24, 2009
Ha! From what I hear, there's been some rumbling on the Hill about that possibility. Now is the time to buy up all those domain names for sure.
John Hawbaker on March 24, 2009
I've also heard a bit of noise about Corker 2012. But what about the Sarah-Cuda?
David Morton on March 24, 2009
[clears throat]
0_o on March 24, 2009
'Is it too early to say “Corker 2012??'
Only by a week.
As much as he is considered a minor deity (although the Great Ziggurat of Coker seems to be sinking) in this town, he'd go over like a led balloon with the rest of the country.
0_o on March 24, 2009
... or a lead balloon for that matter.
CorkThisShrimpy on March 31, 2009
Sooo, the midget ex-mayor is a Housing and Urban Affairs Committee member... can that be right? I'm wondering why he's not working on the gang problem here in Chattaganga.
Stephen42 on March 31, 2009
CTS,
But according to Mr's Hammond, Littlefield, & Cooper, Chattanooga does not have a gang problem for him to work on or even acknowledge.