First question: Has Treasury Secretary Timothy Geithner always had the best interests of President Obama, and the American People, in mind?
Wall Street-insider Tim Geithner, would never "slow walk" a presidential request to dissolve a Wall Street Bank -- No way, no sir!
Geithner criticizes 'Confidence Men'
by Jeffifer Epstein, politico -- 9/19/11
The book, titled in full “Confidence Men: Wall Street, Washington, and The Education of A President,” written by former Wall Street Journal reporter Ron Suskind, goes on sale Tuesday, but excerpts and details emerged over the weekend.
Geithner also denied the book’s assertion that he ignored a March 2009 order from President Barack Obama to consider dissolving Citigroup. “Absolutely not,” Geithner said. “I would never contemplate doing that.”
Timothy Geithner claims, he would never look the other way, when it comes to Citigroup, or Goldman Sachs. No way, No how. Never. Absolutely never.
Funny, Citigroup and Goldman are still around, figuring out new ways to
charge serve their customers.
One has to wonder, Why Secretary Geithner expects "better press" from his Wall Street peers and benefactors, than they've been getting lately? Perhaps he remembers ALL he's done for them ... where's the love?
Tim Geithner: Wall Street's Anger Toward President Obama Is 'Inexplicable'
by Amanda Terkel, huffingtonpost -- Oct 5, 2011
[Atlantic Editor-in-Chief James] Bennet asked Geithner why Wall Street continues to fight Obama, even though "[n]o one has been a greater direct beneficiary than the financial community of the policies of this administration."
"You saved their companies, by and large, you saved their jobs, you even saved their bonuses. And they cannot stand this president now -- even people who supported him four years ago. Why? What explains that?" asked Bennet.
"I think it's inexplicable," responded Geithner. "People resent when they need help. It's a natural thing. They resent the huge amount of public anger they've been subjected to because they caused the crisis."
Despite the unprecedented bailout it received from taxpayers, the financial services industry consistently opposes Obama on issues such as taxes and regulations.
The Occupy Wall Street movement, has now caused Secretary Geithner to break out his Regulator Hat ... you tell 'em Sheriff Tim -- you get those "bad guys" ...
US's Geithner: will prosecute Wall Street infractions
PARIS Oct 14, 2011 (Reuters) -- U.S. Treasury Secretary Timothy Geithner said on Friday that Americans should "stay tuned" for more prosecutions of Wall Street financiers who break the law.
The U.S. Treasury chief rejected a suggestion, during a CNBC television interview, that anti-Wall Street protests were fueled by anger over a lack of prosecution against those who helped caused the 2007-2009 financial crisis.
"That's not true," [Geithner] said.
"You've seen very, very dramatic enforcement actions already ... across the U.S. government and I'm sure you're going to see more to come. You should stay tuned for that," Geithner added without elaborating.
Earlier this week, hedge-fund tycoon Raj Rajaratnam was ordered to serve 11 years in prison, the longest sentence ever in an insider-trading case.
Funny I thought the bulk of those Toxic Asset TARP bailouts, revolved around CDS, MBS, and Sub-Prime Loans slicing and dicing -- NOT this small-potato Hedge Fund insider trader stuff -- that Rajaratnam was convinced of ???
Where are the Mortgage Fraud prosecutions, Sheriff Tim? Will those Toxic casino scam artists ever see the long arm of the law?
This next Vanity Fair article spotlights an Elizabeth Warren investigation video, which in turn spotlights Geithner's rationale for the Toxic Assets Bailout:
Elizabeth Warren Makes Geithner Squirm Over AIG and Goldman Sachs Bailouts
The Woman Who Knew Too Much
by Suzanna Andrews, Vanity Fair -- November 2011
[...] Warren asking the question that was on the minds of many taxpayers: “A.I.G. has received about $70 billion in TARP money, about $100 billion in loans from the Fed. Do you know where the money went?” What followed during the rest of the hearing was the spectacle of the Treasury secretary tripping over his words, his eyes darting around the room as Warren, calm and prosecutorial, kept hammering him with questions. At another hearing, in December 2009, Geithner appeared to be barely able to contain his annoyance, at one point almost shouting at her. Warren’s questioning “was masterful,” says Neil Barofsky, who ran the TARP oversight for Treasury. “She eviscerated him.” But Warren would pay a price for those hearings.
“Geithner hated her,” says a former administration official. Part of it was seen as personal because she had scorched him in public. But the whole thrust of her work on the oversight pane -- getting the facts out to the public -- was at odds with Geithner’s perceived conviction, shared by the Wall Street establishment, that the details of the banks’ TARP rescue should be hidden from public scrutiny whenever possible in order to give the banks time to recover, an assessment that a Treasury spokesperson disputes, insisting that “Secretary Geithner initiated unprecedented disclosure requirements for financial institutions.”
Tricky stuff -- all that Credit Default Swap AIG insurance -- especially pretending like it doesn't matter, too. It could take a few minutes to get at their root causes, of what makes them dangerous. Here, let me give you a few of the key historical highlights that has resulted their lax Capital Reserves Requirements, that makes them fatally toxic, still:
A not-so-brief History of Banking's Mismanagement of Risk
by jamess -- Oct 14, 2011
The previous Sheriff of Wall Street, the guy that the Wall Street insiders hounded out of town, has his own thoughts on the kind of service Geithner has been performing on behalf of the American people ... and he doesn't pull any punches, either:
Spitzer wants a petition to dump Geithner; has no plans for another TV show
by Joe Pompeo, capitalnewyork -- Oct. 12, 2011
Answering a question from the audience, [Eliot] Spitzer said he thought it was time for the U.S. Treasury secretary, Tim Geithner, to go.
"You know what I would like to see?" Spitzer asked the crowd. "I'd like to see a petition with a hundred million signatures, submitted to the White House tomorrow morning, saying, 'Give us a treasury secretary who understands reform.' Bring Paul Volcker in. Bring in Joe Stiglitz. Bring in Paul Krugman. Bring in Robert Reich. People who understand what can be done and are willing to flex their muscles in a meaningful way."
Well Eliot may have a point. It may well past time, to thank Geithner for his
catering service, and suggest he tap one of his many connections and size up his future employment money-changing opportunities.
It may be well past time, that President Obama and American People, finally had a Treasury Secretary who main interest, was restoring Main Street -- NOT Wall Street.
Last I checked, Wall Street was doing fine, thank us very much. Isn't it time we had a Main Street-insider, managing the Nation's finances for a change ... don't you think?