The NY Post has a devastating article detailing Geithner’s “damning string of mess ups” that go back 16 years.
There is a growing consensus that it is time for President Obama to fire Treasury Secretary Timothy Geithner. While he is at it, he needs to clean house by firing Larry Summers, by banning Robert Rubin from Washington, and by appointing a replacement for Chairman Bernanke. It is time for a fresh start.
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.
Au contraire. Obama, Geithner, Emanuel, and the rest know exactly what they are doing. Follow the money. Where did it go? To investment banks. Track their actions. Who have they supported, aided, protected, and enriched at every step? Investment banks.
This was by design. Because, really, how could it be accidental? Think about it.
Look at the group knowledge that has emerged from financial blogs over the past few years, starting with Calculated Risk, Mish, The Big Picture, Infectious Greed, and others who were first, early and right about the the then-coming subprime collapse. Now Zero Hedge, Naked Capitalism, and the others are pounding away at HFT, AIG, and Goldman. In some cases they’ve forced Congress to act.
1) If we bloggers knew what was happening, how could the White House not know? I’m not buying the “bad advisers” / “we are innocents” / “It’s all Bush’s fault” evasions. The problem is that an entrenched elite continues to drain money from us to them.
2) This blog was about the first hard left blog to consistently cover the then unfolding financial crisis, and has continued to do so. Why the far left / socialist left is basically ignoring the entire thing, as I’ve said often before, is a mystery to me. However, as a group, we bloggers who cover the financial crisis know a lot and have pushed these issues into the mainstream. Let’s continue doing so.