And he did it with our money. While his friends roll in the dough, the rest of America faces crippling tax hikes and high unemployment. Tax cheat and official scumbag Timmy Geithner was once thought of as an incompetent boob, a poor choice for Treasury Secretary. Now we find out that not only is he not incompetent, he’s criminal genius of the highest order.
When AIG received billions in bailouts due to their incompetence in holding incredibly risky credit default options, the thought was that creditors and swap holders would get paid, but they would take their lumps. There was no way they would recover all their investment. Enter Tim Geithner, who made sure that at least some of those swap holders got back every penny. One of those companies was…you guessed it Goldman Sachs, Geithner’s former(?) company. Geithner was heading the New York fed at the time the deals were made. He denies being involved in this criminality. Of course, what did you expect him to say? In e-mails obtained by Rep. Darrell Issa (R-Ca) (that man Issa again), show that the fed not only ordered AIG to not negotiate compensation for these swap holders, but pressed AIG to keep their mouth shut about it. Omitting that kind of thing in an SEC filing sounds illegal to me, but the feds would have to go through the feds to bring anyone down. In other words, nobody was policing this. Remember, there were mobs ready to string up AIG execs over bonuses they were handing out, even as the company was sliding into oblivion-and laying off people at the same time. Imagine if those mobs had gotten a hold of this information. Geithner and rest of the crooks at the fed probably feel they can weather the storm at this point; the masses have cooled off. I’ll remind them Timmy.
The thought was, that if AIG disclosed they were lining the pockets of Geithner’s pals, they would not have received anywhere near the money they received in bailouts, totaling a whopping $185 billion tax dollars. Not that AIG didn’t try to disclose this. It appears as though they wanted to, but at that point, the fed has control of the company, and they could have easily gone the way of Merrill Lynch at that point. As it is, AIG laid off employees, many that had nothing to do with this entire mess, and are now just a shell of what they once were. Goldman Sachs has a piece of that shell.
A failed stimulus bill, a health care nightmare on the horizon, double digit unemployment, amnesty in the wings, no homeland security to speak of, and this is where billions to borrowed tax dollars go. You should know that Goldman Sachs had a record year, and until the news came public, were prepared to hand out bonuses in the billions. Do the math. It almost equals the money that AIG handed to them. Our money. No, these guys are not stupid. They’re very smart actually. Unfortunately they are also criminals. A toxic combination.
Barack Obama has surrounded himself with shady characters to say the least. Geithner is a criminal, there needs to be an investigation into this and Geithner needs to be removed from office in chains. Just resigning isn’t good enough any more. Where is the outrage that the people felt toward the executives? Where is the media to report this?
Apparently there is supposed to be a congressional investigation regarding this. I’m sure Timmy has covered his tracks though.
Priorities are to make sure that his friends stay wealthy. Criminal? I have other names for that man.
I feel your anger mcnorman. Go ahead and say it.
Actually, I think Obama’s priorities are to destroy the middle class. Why else would he bring this thieves, liars, criminals, tax evaders and whatnot with him. Everything this administration is trying to pass will hurt the middle class the most. If you destroy the middle class, you destroy America. That, I believe is the end game.
I’ve mentioned the Cloward-Piven strategy before Dominique. Apparently that socialist utopia doesn’t apply to everyone.
I love your Tea Party Patriots Badge! You rock!
Thanks Dominique. Proud to be a TPP. Wish I say the same for Geithner and his goons.
You know what I find odd in this entire scenario? The fact that the Democrats are always saying the Republicans are the party of the rich. That just does not compute, if you know what I mean.
Yes, pun intended LD. We know that Republicans and Democrats alike take money from many of the same donors. Party of the rich is just a class warfare appeal to the poor by the Dems. We can theorize the psychological effects that has regarding poverty.
Yeah – the Tea Party – that’s just what this country needs – more radicals. Don’t you people understand that the further we move to the right and the left, the less we will get done, the worse the future will be and the more you will ALL suffer in the long run. Aren’t we from the same country? I have serious doubts that this country will remain the strongest country in the world. You all will be alive to see the downfall of the U.S. empire – barely 200+ years after it’s inception. How truly sad.
Well, at least you’re above it all Michael. Good for you.