Friday, April 3, 2009

Geithner's Tenure at NY Fed Under Scrutiny

Fascinating but long article here in this morning's Post about Secretary of the Treasury Tim Geithner's tenure as President of the Federal Reserve Bank of New York, the lofty perch from which he jumped to the even loftier perch of Treasury Secretary. Seems that Geithner was quite a bit more anxious about the state of health in the investment banking industry than he let on in his Congressional testimony, pointing to the logical conclusion that he had power as the NY Fed chief that he DID NOT exercise in a timely fashion to help stop the financial melt-down.

So the President demagogues AIG officials getting bonuses as (and I paraphrase) "rewarding the very people who caused this crisis." How is that any different from his "rewarding" Tim Geithner with the Treasury Secretary job, given his culpability in this mess.

1 comment:

Mudge said...

Perhaps you weren't listening to the great and powerful O: "Pay no attention to the man behind the curtain"

Oh, and it differs not at all.

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