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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