Geithner’s Sweetheart Deal for Banks
Tags: Financial Crisis.
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Here’s something Goldman Sachs, Treasury Secretary Tim Geithner, Federal Reserve Chairman Ben Bernanke, American International Group’s former CFO, and Goldman’s former chairman have all declined to comment on:
While negotiating how much loss large banks would have to take on credit default swaps with the bankrupt insurer AIG, the New York Fed, then under Geithner, rejected a 40 cents-on-the-dollar deal in the works and made taxpayers pay at least $13 billion to ensure the banks suffered no losses…
Its becoming clear just what we’ve got here in Geithner – the banker’s protector. If you think he’s out there trying to get the economy going, you’ve got rocks in your head. All he’s doing is bailing out the banking industry he comes from and likely hopes to return to.
President Obama, its time for a new Treasury Secretary – I’m no fan of yours, but I don’t want Geithner making a bigger mess, even if it works against you…because it will also work against the American people. I’m sure there is some approximation of an honest liberal out there who would serve better.
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8 Responses to “Geithner’s Sweetheart Deal for Banks”
Caucus of Corruption
This will no doubt come as a shock to some commenters out there, but yes – I totally agree. Geithner cares ONLY for his big banking friends. He should go, as should Bernanke and people who understand that ANY kind of bailout means the best deal for the taxpayers is the goal, not for the banks to squirm out of the losses due to them from the reckless cockups they made.
People who understand the best deal for the taxpayers are people who should be in the jobs, not those who let the banks squirm out. Sorry, hit the submit comment button a trifle early.
AF
will you agree that obummer has filled his cabinet with tax cheats, chicago thugs, and marxists who are out for personal power and gain?
I also think Tim Geithner, should go. He is way to close the banking industry.
@Neocon: I would agree he hasn’t changed Bush’s policy of having people who are out for personal gain. I would also add that McCain didn’t suggest any different people. It’s one of the things I condemn Obama for.
The good thing is we all agree that he must go – there is hope for national unity. Perhaps Obama will be the uniter – uniting everyone in disgust over Big Government…
This is definitely something there is consensus on. In fact, just yesterday I came across a post on essentially this same topic on a progressive photojournalism blog.
“I would agree he hasn’t changed Bush’s policy of having people who are out for personal gain.”
Spoken like a true Obamateur knee-padder!
Oh yeah, that was a Bush policy. AF you willingly “forget” that the Clinton administration had more indictments and Obamateur appointed more tax cheats and questionable individuals.
IF what you said is true, then why not clean house like the Obamateur and the Democrats promised? In reality, it is more of the same and you and other lemmings choose to ignore them.
Typical and pathetic – but I don’t expect anything less from a knee-padder.