The NY Post has a good indictment on Tim Geithner. They quote a known troublemaker named Josh Rosner:
“We’ve seen an ongoing effort by Tim Geithner at the Federal Reserve and Treasury to do the public’s work out of the public’s view in ways that benefit the banking interest ahead of the public’s,” said Joshua Rosner, a managing director at Graham Fisher & Co. “It was under Tim’s direction that we were given stress tests that were less than transparent and less than credible,” he added.
Somehow, the financial media can’t get their arms around this one in terms of editorial positions. How long do you think it will take the Times or the WSJ to call for Tim’s impeachment?
And don’t even talk to me about President Obama. The child president has not a clue about financial anything. Notice how the White House was flummoxed by the latest AIG revelations. And both Rahm Immanuel and Larry Summers are said to be eyeing the emergency escape pods. My bet is that Larry goes back to the Street because he his seen as damaged goods in corporate world due to Harvard derivatives fiasco. More fodder for Barry’s next book.
Think about it: Even though Bill and Hilary Clinton installed much of the Little Rock machine into Grupo Obama (thereby preclusing a Hillary run in 2012, conveniently), isn’t it amazing to see the way that the Democrats have abdicated their responsibility for finance and defense to Bush holdovers? And particularly incompetent ones at that.
Only in America. — Chris
Geithner’s overstayed his welcome: Wall St. honchos
By MARK DeCAMBRE, PAUL THARP and JOHN AIDAN BYRNE
NY Post, 11:43 PM, January 9, 2010