What Timothy Geithner Really Thinks (Andrew Ross Sorkin) from New York Times Magazine
"There are those on Wall Street and in the plutocracy who feel that Geithner is a hero who deftly steered the country from economic ruin. To many ordinary Americans, however, he is considered a Wall Street puppet and a servant of the so-called banksters. And as much as Geithner hates to explain, he very much wants to be understood."
2 comments:
Geithner presided over the banks that pissed themselves laughing as they sold garbage wrapped in US securities and walked the world economy off a cliff. The financial institutions were always going to be recapitalized and they knew it. And from 08 the plan has been to reflate our way out of the catastrophe. It’s not a bad solution, it’s the only solution. The long term consequences of this reflation are unknown. But trillions of dollars are now sloshing around the world economy in a grotesque comedy as the ultra-rich carry on like so many drunks playing Kino.
I share your view, comrade! ... I have already read Hank Paulson's On the Brink covering the meltdown in '08 and have long accepted that Geitner, Bush, Obama et al., had to do just about anything to stem the direction the economy was going in at the time. Otherwise we almost certainly WOULD have been in another Great Depression. Having said that, I can only wonder when the average US taxpayer will wake up and start voting their interest rather than simply granting more sway to precisely those folks who got us into the original mess (and more since)!
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