Quote of the Day: Geithner’s retirement

Frequent Cafe contributor Chris Whalen throws some more knives Geithner’s way in the today’s NYT:

“We have only two things to say about Tim Geithner, who we do not know: A.I.G. and Lehman Brothers,” said Christopher Whalen of Institutional Risk Analytics. “Throw in the Bear Stearns/Maiden Lane fiasco for good measure,” he said.

“All of these ‘rescues’ are a disaster for the taxpayer, for the financial markets and also for the Federal Reserve System as an organization. Geithner, in our view, deserves retirement, not promotion.”

Ouch.

“He was in the room at every turn of the crisis,” said another executive who participated in several such confidential meetings with Mr. Geithner. “You can look at that both ways.”

Ouch is right.

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Source:
Where Was Geithner in Turmoil?
ANDREW ROSS SORKIN
NYT, November 24, 2008
http://www.nytimes.com/2008/11/25/business/25sorkin.html

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