Put this in the
believe it when we see it bin.
Treasury Secretary Timothy Geithner suggested Friday that a new round of “dramatic enforcement actions” against Wall Street wrongdoing is coming.
“Stay tuned for that,” Geithner said.
Asked on CNBC about the Occupy Wall Street movement’s frustrations over the lack of criminal charges related to the financial crisis, Geithner said action is on the way.
“You’ve seen very, very dramatic enforcement actions already by the enforcement authorities across the U.S. government, and I’m sure you’re going to see more to come. You should stay tuned for that,” he said.
Maybe one sort of dramatic enforcement action, with Raj Rajaratnam, the former head of the Galleon Group hedge fund, getting 11 years for insider trading. Other than that, um?
But as David Dayen highlights, this might be the most misguided reading of Occupy Wall Street possible.
“What you see is a general sense across the country of concern that the U.S. economy is not growing faster, you’re not seeing incomes rise more rapidly, and people want to make sure that the government, Washington, is acting to make things better now. As part of that, they want to see us deliver much stronger protections for consumers and investors as an economy as a whole,” Geithner said on CNBC [...]
“What we’re focused on is trying to make sure that we are doing everything to encourage Congress. … to take some steps now that can make growth stronger in the United States, and tie that to reforms to bring down our long-term deficits,” he said.
Yeah, OWS is all about bringing down our long-term deficits. Yeesh. Someone get him a primer on the last three and a half years for the 99 percent and a new set of talking points, stat.
At any rate, if it's really going to happen, hurrah and about damned time. We will definitely stay tuned, and be there to clap as hard as the administration could ask when the indictments start coming down.
