Tim Geithner, Wall Street's whore:

Geithner, Member and Overseer of Finance Club. The New York Times tells us what we already knew....Geithner isn't going to threaten the status quo. And that means the bankers and Wall Street get to continue getting rich by stealing the pennies out of our pockets. Here's a taste: Today, Mr. Geithner is Treasury secretary, and as he seeks to rebuild the nation’s fractured financial system with more taxpayer assistance and a regulatory overhaul, he finds himself a locus of discontent.

Even as banks complain that the government has attached too many intrusive strings to its financial assistance, a range of critics — lawmakers, economists and even former Federal Reserve colleagues — say that the bailout Mr. Geithner has played such a central role in fashioning is overly generous to the financial industry at taxpayer expense.

An examination of Mr. Geithner’s five years as president of the New York Fed, an era of unbridled and ultimately disastrous risk-taking by the financial industry, shows that he forged unusually close relationships with executives of Wall Street’s giant financial institutions.

His actions, as a regulator and later a bailout king, often aligned with the industry’s interests and desires, according to interviews with financiers, regulators and analysts and a review of Federal Reserve records.

* * *

In fashioning the bailout, his drive to use taxpayer money to backstop faltering firms overrode concerns that such a strategy would encourage more risk-taking in the future. In one bailout instance, Mr. Geithner fought a proposal to levy fees on banks that would help protect taxpayers against losses.

Click, read, get depressed. As soon as I heard that Obama was going to appoint Geithner as Treasury Secretary and have that hopeless piece of shit, Larry Summers, as an economic advisor, I felt that we we were going to get screwed. Why no, it doesn't feel good to be right...again.

Comments

[JDM]

Fucking snot nosed privileged little shit Geithner should be shot and Fat Larry flogged to death. Handmaiden thieves to the Owners. Wretched, evil fucking fucks.

[gmb]

JDM: Hey, don't hold back. Hahahahahahahahaha. Thanks for the laugh, because reading an article that confirmed my every worse suspicion made me very unhappy. GMB

[Spartacus]

Wouldn't it be nice to take a cap nap in a meeting with the President and not get skewered for it. Damn, I want Larry Summer's job. All that government cheddar and all I have to do is show up at meetings and sleep. Great gig if you can get it.

[gmb]

Spartacus: The problem is that you don't have the resume: Did you miss the obvious signs that the financial sector was fucking around? No. Did you gratuitously insult women scientists while heading Harvard University? Nope. You are obviously under qualified. Sorry, dear. GMB