Reply #19: I've got news for you: a lot of people are ON the soup line, and the Dow being over 10000 [View All]

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doesn't help them.

In any case, what progress have we made w/ market regulation?

The shenanigans w/ derivatives markets continues. Funny money is pouring out in 7-figure banker bonuses.

We still have banks that are "too big to fail" - in fact, they have even more leverage now since the mergers post-Lehman. What happens if BofA or Citi gets into trouble again? More taxpayer billions into their coffers?

What is Geithner doing to prevent another fraud like the one perpetrated by his buddies at Goldman Sachs, i.e., short-selling the same fraudulent derivatives it was packaging for its customers as AAA-rated paper? My guess is, a big zero. Especially since Geithner defended Hank Paulson's handling of Goldman during the Lehman meltdown.

For that matter, what about Geithner's role in AIG fiasco when he was at the NY Fed? Another incident that coincidentally resulted in billions channeled to Goldman and other Wall Street firms.

Frankly I think it's a weak distinction you're making. First of all, Geithner and Summers were on the financial scene long before they were hired by Obama, and they helped create the mess we're in. As Sec. of the Treasury, it's actually arguable whether Geithner's ANY BETTER than his predecessor, whom he's defended in the past! Certainly their approaches to "fixing" things are exactly the same: throw more money at Wall Street!