Saturday, January 16, 2010

Geithner claims bailout necessary, bonuses incomprehensible

Excerpted from the HuffPost:

Tim Geithner believes that bailed out insurer AIG was "absolutely" right to pay other bailed out Wall Street firms 100 cents on the dollar for their toxic credit default swaps. Geithner also believes that there was no other option.

See the CNBC interview here:

During the interview, Geithner maintained that even as Chief of the New York Fed, he was not involved in the decision to advising AIG to keep details of the payments private.

But what truly defies belief is that Geithner not only maintains that the bailout for his buddies at Goldman Sachs the bailout for AIG was "absolutely" necessary, he continues by saying he doesn't understand the Wall Street bonuses.

He must sincerely believe that Americans are idiots. I mean he claims to understand the absolute necessity of criminal banking policy, but then doesn't understand the bonuses related to the counterfeit money he printed at the Fed. Geithner belongs in jail with the rest of the Felonious Fedsters.

Tim White

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