Fox News Channel Interview - Transcript

Interview

Fox News Channel Interview - Transcript

FOX NEWS CHANNEL INTERVIEW WITH SENATOR JIM BUNNING (R-KY)
SUBJECT: TIMOTHY GEITHNER INTERVIEWER: SHEPARD SMITH

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MR. SMITH: As President Obama makes the pitch for his $825 billion stimulus plan, the U.S. Senate is expected to vote tonight on his pick to head up that plan, Timothy Geithner, Geithner, Obama's pick for Treasury Secretary. His confirmation has been delayed. It happened after it revealed that Geithner failed to pay thousands of dollars in payroll taxes on time.

Geithner apologized repeatedly last week for what he called an avoidable mistake.

Senators from both parties expect him to be confirmed, but one senator, not so hot on a quick decision.

Republican Senator Jim Bunning says and I'll quote here, "Acting first and thinking later is a big part of what got us into this crisis, and there is every reason to think carefully about Mr. Geithner's actions as a financial regulator and his tax problems."

With us now, Kentucky Senator Jim Bunning, who is on the Senate Finance Committee.

Sir, good to see you.

SEN. BUNNING: How are you, Shep?

MR. SMITH: Very well. Thanks. The president argues we've got to get this done; he's the best man for the job. Thinking further, you would say?

SEN. BUNNING: I would say if he's the best man for the job then we are really hurting in the United States.

MR. SMITH: You don't believe he has the chops to get this job done?

SEN. BUNNING: No. I think as a regulator, he failed miserably as the head of the New York Federal Bank. Let's look at Citigroup and AIG and Bear Stearns and a lot of things that he was in charge of up there as a member of the Fed and, of course, the bailout bill that he was instrumental in helping Ben Bernanke and Hank Paulson, bait and switch the Congress, I think deserves a further examination.

MR. SMITH: Senator Bunning, are you urging your Republican colleagues to vote against this pick?

SEN. BUNNING: I'm not urging anybody except myself because I know that he will pass with approximately, depending on how many people show up today, he will get 15 to 20 negative votes and the rest will be positive.

MR. SMITH: My curiosity is about exactly where we are with this, you know, there are so many who have suggested that Republicans are trying to get on the record, but aren't really pushing against this appointment, and I'm curious about the details behind why. If it's your belief that he isn't the one who is best qualified from a regulatory standpoint, he has not done a good job, then why would you not push your Republican colleagues to vote against him?

SEN. BUNNING: Well, I have tried my best to do that in the Finance Committee. I've just made a speech on the floor of the U.S. Senate that reiterated the reasons why I objected to Timothy Geithner as Secretary of Treasury.

People make up their own mind and for various reasons. I think presidents should get the appointments that are qualified and need. I just happen to think Timothy Geithner is not qualified to be Treasury Secretary, first of all, because he is a lousy regulator, and secondly, because of his attachment with the $700 billion bailout, and, of course, he evaded taxes. He says, oh, I'm sorry, I evaded these taxes, but with brilliant people guiding him and telling he owed the taxes, he still ignored it.

MR. SMITH: Senator Jim Bunning, Republican of Kentucky. Sir, good of you to share that with us. Thank you.

SEN. BUNNING: Thank you.

MR. SMITH: All right.

END.

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