The Mudcat Café TM
Thread #115883   Message #2843801
Posted By: Sawzaw
18-Feb-10 - 09:55 PM
Thread Name: BS: Popular Views: the Obama Administration
Subject: RE: BS: Popular Views: the Obama Administration
Bobert: Are people that seek to find some sort of reference to race in everything, racist?

Thanks again for dropping the ostentatious [oops] wording Amos. ;D

"jailbird buddies at Goldman Sachs"
Does this mean Geithner is a jailbird?

I know he incapable of filling out an income tax form without "accidentally" cheating or "accidentaly" not reporting certain income after he was notified to do so but I wouldn't take it to that extreme.

In March 2008, he arranged the rescue and sale of Bear Stearns. In the same year, he played a supporting role to Henry Paulson, former CEO of Goldman Sachs, in the decision to bail out AIG just two days after deciding not to rescue Lehman Brothers from bankruptcy. According to some observers, Geithner severely damaged the U.S. economy.

New York Times 24 November 2008:

.....While Henry M. Paulson Jr., the current Treasury secretary, has taken a drubbing for the changeable nature of the government’s efforts to bolster the financial industry â€" some of which clearly contradicted each other â€" Mr. Geithner has managed, for the most part, to remain unscathed. He’s been widely praised as a bright, articulate out-of-the box thinker who is a bailout expert, to the extent anyone can truly be an expert at fast-changing emergencies.

Behind the scenes, Mr. Geithner was the point person for weeks of sleep-deprived Bailout Weekends. It was Mr. Geithner, not Mr. Paulson, for example, who put together the original rescue plan for the American International Group.

And, of course, Mr. Geithner also helped oversee and regulate an entire industry whose decline has delivered a further blow to an already weakened American economy. Under his watch, some of the biggest institutions that were the responsibility of the New York Fed â€" Bear Stearns, Lehman Brothers, Merrill Lynch and most recently, Citigroup â€" faltered. While he was one of the first regulators to smartly articulate the potential for an impending disaster, a number of observers question whether he went far enough to stop the calamity....