Brits Warn Geithner
April 26, 2009 • 12:38PM

The chief financial officer of the most bankrupt country on the planet is telling U.S. Treasury Secretary Tim Geithner what to do. Speaking on the sidelines of the G7 finance ministers meeting in Washington, British Chancellor of the Exchequer Alistair Darling warned Geithner to hurry up and do more to deal with the toxic assets.

Telling Geithner to forget about what the American people might think about bailing out the financial crooks on Wall Street and the City of London, Darling said: "I recognize the political difficulty any government has when people ask 'why are you doing all this for these banks?' but the fact is that we need the banking system. We need an effective, functioning banking system, and we need to kick-start credit and that means you've got to sort out these toxic assets, so I hope the United States can make progress as fast as it possibly can. It is an absolute imperative... And fixing the U.S. economy is as important to the U.K. as it is to the U.S. because of the sheer size and influence of their economy."

He also repeated his warning to European finance ministers in the summit.

Darling, the man who just hocked the entire worth of the British economy to sink into the bankrupt City of London, has reason to be concerned, since Britain's economy is the world's worst basket case. It was an especially gloomy week after the announcement of a more that £200 billion budget deficit, rumors that Britain could lose it triple A credit rating and news that its banking bailout has reached more than $2 trillion and growing, larger then the entire economy. And today it was reported by the Daily Telegraph that Britain's Gross Domestic Product fell by 1.9% in the first three months of this year, almost half a percentage point more, as Darling had predicted only a few days ago.