Why did the Chinese laugh at Secretary Timothy Geithner?

Because the Chinese are not falling for the lie. They know that if this administration keeps spending and printing money at its current rate inflation will occur and likely hyperinflation. This will make the bonds they are now holding worth less and less. Basically the Chinese own us or at least a large portion of us. They have already told us to quit printing money and felt they had a right to do this because of the amount of bonds they hold.