Geithner Damage Control

[Subdivisions]

First there was http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=389&topic_id=7415822">this where it was revealed that Tres. Sec. Timothy Geithner's "people told AIG to delete references on draft regulatory filings to the sweetheart deals" and that his "ended up having AIG pay top dollar for toxic assets -- 'an amount far above their market value at the time,' the November report noted. It described how the team led by Geithner failed nearly every step of the way."

And now http://www.bloomberg.com/apps/news?pid=20601087&sid=aS5a4LAX2xcA&pos=1">here's the damage control:

Jan. 8 (Bloomberg) -- Timothy Geithner, the former Federal Reserve Bank of New York president, wasn’t aware of efforts to limit American International Group Inc.’s bailout disclosures because the regulator’s top lawyer didn’t think the issue merited his attention, according to a letter sent to lawmakers.

...snip...

Edited to add follow-up story from Bloomberg: http://www.bloomberg.com/apps/news?pid=20601087&sid=aQe5GHcCSKWo&pos=4

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Well, well, well...another case of the captain being the first to abandon his ship. You mean to fucking tell me that an event that resulted in an "emergency bailout to save the too-big-to-fail banks" or else "martial law will be declared" and the head of the New York Fed, and soon to be Treasury Secretary, had no idea it was going on? I'd like to hear what Eliot Spitzer has to say about this!

[midnight]

1. I'm sure Eliot had them in the cross hairs when he was forced from office....

[flyarm]

4. i would make a bet on that !! +1000!!..eom

[AndyA]

6. There's no doubt about that.

They had to deal with Spitzer, and quickly. And they did.

[midnight]

2. I'm sure Eliot had them in the cross hairs when he was forced from office....

[ThomCat]

3. I'm sure that's why they were investigating him to find a way

to force him out of office.

They knew he was going to be loading for big game.

[monmouth]

5. I'd bet money on it and I win a lot....LOL. n/t

[Turbineguy]

7. Maybe this is Spitzer getting his pound of flesh.

If you say, "Geithner did it", it's bound to get investigated. Who knows what dirt will turn on who up as "unintended" consequences.

[Dinger]

8. Any Chance This asshole will "Leave For Personal Reasons"?

I'd be cool with that.

[bullwinkle428]

10. E.J. Dionne said it won't happen until after the 2010 elections -

he will be the sacrificial lamb following the Democratic Party losses in Congress.

Until then, I guess the American people will have to suffice as the sacrificial lamb while this frigging clown remains head of the Treasury!

[rateyes]

9. Then, Geithner just admitted to being fucking incompetent at his job.

FIRE HIS ASS, MR. OBAMA!

[Subdivisions]

11. Amen to that. And while he's doing that, Congress needs to

vote out Bernanke when that crook's confirmation vote comes up.