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This Means War: Battered Geithner Turns On Goldman Sachs

Tyler Durden's picture




 

This latest development will surely end in tears. Said tears will likely not be shed by Lloyd.

One wonders if this escalation make the odds of T to the G's getting a multi-million job at Goldman in a few months when he is replaced by J to the D a shy tad worse.

 

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Fri, 12/04/2009 - 16:07 | 152837 ArkansasAngie
ArkansasAngie's picture

Rats in a sinking ship ...

 

Fri, 12/04/2009 - 16:07 | 152838 Dixie Normous
Dixie Normous's picture

I heard Timmay sent Lord a note during study hall.

They're going to meet by the flagpole after school to duke it out.

Fri, 12/04/2009 - 16:07 | 152841 Altan311
Altan311's picture

ummmmmmmm, Yeah? I think things are going to be not so friendly next week.

Fri, 12/04/2009 - 16:07 | 152842 Marvin the Mind...
Marvin the Mindreader's picture

If I were Timmy, I'd get one of those remote car starters about now.

Fri, 12/04/2009 - 16:07 | 152843 Stevm30
Stevm30's picture

Goldman execs are the only friends Geithner has left.  Now he alienates them... NICE!

Fri, 12/04/2009 - 20:02 | 153364 David449420
David449420's picture

were.

Fri, 12/04/2009 - 16:08 | 152844 bugs_
bugs_'s picture

You guys owe me!  You really do!  Really!

 

Fri, 12/04/2009 - 16:08 | 152845 Hephasteus
Hephasteus's picture

Hell yes you can undermine the derivatives bill. You can dig at it's feet until the stupid pile of crap becomes earth core material. Nobody is going to turn derivatives into a facist dictator without comprimise.

Hasnt' seen a version of the Tobin tax that gives one group exclusive scamming access.

Fri, 12/04/2009 - 22:06 | 153507 Rusty Shorts
Rusty Shorts's picture

Hephasteus, AKA "Dumb Ass Redneck"

...your reply follows;

"Hey. I want to break his door down and cut his family into small pieces and feed them to thier own garbage disposal to see if he really believes in what he is saying or he is talking shit on the interenet.

You guys are ruining it for me!!! RUINING IT!!!"

 

Hephasteus.

 

HAHAHAHAHAHAHAHAHHHAHAHAHAHAHAAAHAAAA,

 

Kick my door on...PLEASE dickhead !!!

 

Fri, 12/04/2009 - 22:54 | 153545 Hephasteus
Hephasteus's picture

Why are you trying to defend an ancient behavior that if replicated today would result in all sorts of law enforcement intervention so it's safe to talk crap about it on the internet?

Or did I slam you when you were posting anon?

Or do you often engage in philosophical discource without the abiity to discern what is action and what is an arguement point? Or do you just feel unsafe because I mean you no harm whatsoever.

Fri, 12/04/2009 - 16:09 | 152849 etrader
etrader's picture

Janet  Tavakoli will be pleased with Turbo Timmy.... :-)

 

Fri, 12/04/2009 - 17:51 | 153124 Anonymous
Anonymous's picture

Timmy pleases a woman. First time for everything.

Fri, 12/04/2009 - 16:09 | 152851 Daedal
Daedal's picture

Tweedledee and Tweedledum

Fri, 12/04/2009 - 16:10 | 152857 lizzy36
lizzy36's picture

Treasury Secretary Dimon welcome to Washington.

Fri, 12/04/2009 - 16:14 | 152870 etrader
etrader's picture

:-)

JPM's last hour ramp just to show they care......

 

Fri, 12/04/2009 - 16:11 | 152861 gridlocked
gridlocked's picture

It's only a matter if time now before Geithner sleeps with the fishes.

Fri, 12/04/2009 - 16:11 | 152862 JohnKing
JohnKing's picture

I'll consider taking Timmy seriously when he stops shaving his eyebrows.

Fri, 12/04/2009 - 16:40 | 152947 Anonymous
Anonymous's picture

Wow. He really does. Wish Jon Stewart would run with that.

Fri, 12/04/2009 - 16:53 | 152973 Assetman
Assetman's picture

Yeah, just what is the deal with the scary non-eyebrows, anyway?

To the OP, things will really escalate if/when Timmy calls out Goldman as "big mean poo-poo heads".

Fri, 12/04/2009 - 17:18 | 153049 JohnKing
JohnKing's picture

It's probably some banker-frat-boy hazing ritual; Hey Biff, let's slip Timmy a roofie and shave his eyebrows before he has to go on national TV. Yeah..good idea!

Fri, 12/04/2009 - 17:53 | 153129 Problem Is
Problem Is's picture

Actually, some of my coworkers did that to their sorority brother when they were in college. The guy was one of our salesmen. While passed out drunk, they shaved off one eye brow and half his mustache. Took pictures. It was hilarious.

They woke him up the next morning hung over and told him hurry you are late for class. He just piled out the door. He wondered why chicks were smiling at him all morning...

Fri, 12/04/2009 - 17:46 | 153108 Problem Is
Problem Is's picture

So did J Edgar Hoover. Look at the old film and newsreels of that guy.

He was freakin' wearing painted on eye brow liner.

So you think men commonly did that in the 50s amidst all the commie and gay as a crime witch hunts? That was one strange crime fighter... J. Edgar, living at home with his mother.

Fri, 12/04/2009 - 18:10 | 153160 aaronvelasquez
aaronvelasquez's picture

I think Timmy is really Eddie Haskell.

Fri, 12/04/2009 - 16:20 | 152868 D.O.D.
D.O.D.'s picture

C'mon folks, false flag attack.  You can't really be suprised by this, can you?

Fri, 12/04/2009 - 16:21 | 152889 Rollerball
Rollerball's picture

Yup, much ado about nothing.  

Fri, 12/04/2009 - 16:41 | 152949 Careless Whisper
Careless Whisper's picture

Puuleeze, Timmay bashing Goniff Sachs is just to get his popularity up. Dog and pony show.

Fri, 12/04/2009 - 17:36 | 153087 Miles Kendig
Miles Kendig's picture

Dog and pony for sure.  Timmay couldn't pull off a K9 and equestrian show if his life depended on it.

Fri, 12/04/2009 - 16:33 | 152922 Anonymous
Anonymous's picture

I like DOD. Always on point. Save the drama for yo momma.

Fri, 12/04/2009 - 20:54 | 153427 spekulatn
spekulatn's picture

+1

Fri, 12/04/2009 - 17:07 | 153012 legerde
legerde's picture

It reminds me of  "professional" wrestling.  I'm sure backstage they are high fiving.

 

Fri, 12/04/2009 - 17:12 | 153028 BoeingSpaceliner797
BoeingSpaceliner797's picture

Hello D.O.D.  How're things in Cali?  Found work yet?  I have not.  Hope all is well with you.

Fri, 12/04/2009 - 18:14 | 153095 D.O.D.
D.O.D.'s picture

Hey Boeing, no job yet, thanks for asking. Some opportunities are presenting themselves overseas however. I am a miserable failure at the markets, I am just not that risk adverse; but poker tournaments seem to tilt the odds in my favor.  Otherwise I may go back to school to learn to wipe butts for a living...no joke...  =] (edit: I don't mean to make it sound trival, my brother does it, and is happy for the service he is able to provide for those who need the help, and it is a very admirable job; I just never thought of it as an option for me...until now, not because it is below me, but because I can't even wipe my own without tearing up and gagging...)

I wish you all the luck, and strength to persevere...

http://www.despair.com/perseverance.html

these posters always make me laugh...hope you get a chuckle..

Fri, 12/04/2009 - 19:57 | 153351 geopol
geopol's picture

DOD Life is poker...  I sense your good at it..... Let life rub up against you, as you will prevail..Proceed

Fri, 12/04/2009 - 22:13 | 153518 BoeingSpaceliner797
BoeingSpaceliner797's picture

Thx DOD.  That web site is a classic.  Good luck to you as well.

Fri, 12/04/2009 - 16:17 | 152876 curbyourrisk
curbyourrisk's picture

S&P managers being forced to slop up all those extra BAC shares at the close of the day.  Got to help them pay their bonuses out somehow.

 

Does this shit ever end????

Fri, 12/04/2009 - 16:18 | 152878 Commander Cody
Commander Cody's picture

Aw gee guys, give Timmy credit for telling the truth - once.  As if anyone with an IQ above 10 doesn't already know: LB is just a lying sack of shit.

Fri, 12/04/2009 - 16:18 | 152880 mikesap
mikesap's picture

i'm with D.O.D. on this one.... smells like a set-up...

Fri, 12/04/2009 - 16:19 | 152882 Anonymous
Anonymous's picture

Geithner - Lloyd's favorite bitch. Bark for him Timmy

Fri, 12/04/2009 - 16:23 | 152884 Uomo senza nome
Uomo senza nome's picture

What is the old saying about not becoming a statistic? For some reason I was thinking of U-6 unemployment and then I saw this post. Now I've got an image of Timmay standing in his newly minted blue Best Buy shirt. Imagine him pointing and smiling like a retail superman in front of the newly arrived shipment of Turbo Tax. You, Happier!

Fri, 12/04/2009 - 16:21 | 152890 TraderMark
TraderMark's picture

This provides nice cover when he takes employment with GS in 2014.

Fri, 12/04/2009 - 16:24 | 152898 etrader
etrader's picture

Carlyle Group for Timmy ;-)

Fri, 12/04/2009 - 16:22 | 152892 Sancho Ponzi
Sancho Ponzi's picture

OT from the Sydney Morning Herald: 

More problems for the Global Warming followers

http://www.smh.com.au/environment/climate-email-mess-hits-australia-20091204-kb39.html

 "Now looking at the dates. something bad has happened ... COBAR AIRPORT AWS [automatic weather station] cannot start in 1962, it didn't open until 1993!"

Fri, 12/04/2009 - 16:35 | 152931 Lexington Duffet
Lexington Duffet's picture

A response to the latest RW attack on the scientific community and rational thought (you know, idiots carrying on the "self evidence" theories of Adolf Hitler and others)

 

A reader writes:

I'm not a climatologist, but I am interested in climate change. Fortunately, I attend a college with a climatologist. I asked her about the data massaging trick and this is how she explained it.

The data in question is actually two sets of data. One being the data from 1BCE to now using tree rings and coral. Tree rings are larger when it is wet or hot and smaller when it is cold and dry. Because wet/hot and cold/dry aren't correlated, there are uncertainties with the data. But, the data from tree rings from 1BCE to now does show temperatures similar with other temperature markers. That is, until the middle of this century.

The other set of data comes from real thermometers, from the mid-19th century to now. The data becomes more reliable as data gathering methods become more precise. What the scientists at CRU did was splice and combine the two data sets. The tree rings data shows cooling that is in opposition to actual measured temperatures. So the CRU scientists combined the two data sets to make it look like one data set that shows more continuous warming.

The professor I spoke with was very clear that what the CRU scientists did may not have been ethically pure, but warming is happening. They probably should have made clear the "trick" they used was actually two different data sets, she said. The information that has become known through this "scandal" may call into question historical climate data, but not current climate data. The world is still warming now, and "climategate" doesn't change the need for significant carbon cuts in Copenhagen.

 

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Fri, 12/04/2009 - 17:04 | 153001 Bonesetter Brown
Bonesetter Brown's picture

Continuing OT...

The world may indeed have warmed in the second half of the 20th century.  The warming may have halted or turned to cooling in the last decade.

The earth is most certainly warmer today than the "Little Ice Age" of few hundred years ago.

The earth is most certainly colder today than the "Medieval Warming Period" of one thousand years ago.

The correlation between atmospheric carbon and global cooling/warming is tenuous, hence the need by the Climategate scientists to massage the data to get their results.  Historical causation of global warming by atmospheric carbon is more difficult still.

Climate is poorly understood, and it take very long periods of accurate observation to record statistically significant changes and to calculate correlation with suspected factors.

Greater consideration is being given to the impact of oceanic oscillators (decadal and multi-decadal), even some thought to solar geomagnetic cycles (sunspots and more importantly solar winds).  There are some interesting coincidences between the Maunder minimum (low sunspot/solar wind activity in the 17th century) and the Little Ice Age.  If it is more than coincidence, the unexpected drop in sunspots for the current solar cycle (but predicted by Livingston and Penn) may presage a significant drop in global temperatures.

The primary actors in Climategate should be quickly fired or put out to pasture. Then  important climate research can proceed without the significant taint of politics, bad science, and/or fraud.

Fri, 12/04/2009 - 20:16 | 153380 Anonymous
Anonymous's picture

There was a quite a lot controversy about influential tree ring data not so far back. Here's one article, but there were bunches more around this time frame.
I'm not a climatologist but this girl I know who is, explained that the charge was that specific trees were picked out of the total available. The picked trees showed warming. Taken as a whole the tree ring data did not.
http://wattsupwiththat.com/2009/10/01/mirror-posting-yad06-the-most-infl...

Fri, 12/04/2009 - 18:49 | 153241 Sancho Ponzi
Sancho Ponzi's picture

Greenie junk flagger is back! LOL

 

Fri, 12/04/2009 - 16:23 | 152897 TraderMark
TraderMark's picture

Actually, the bottom headline is the best one!

Geithner Hasn't Seen a Version of Turbo Tax that 'Works'

*****************

What's that?

Oh... Tobin Tax. ;)

Fri, 12/04/2009 - 16:32 | 152918 Divided States ...
Divided States of America's picture

HA....good one..

Fri, 12/04/2009 - 16:25 | 152902 Mongo
Mongo's picture

Timmay and GS is just putting on a show!

Fri, 12/04/2009 - 16:28 | 152909 Anonymous
Anonymous's picture

May be GS wont be there by 2014,or may be this is a warning from him;if I go down,then everybody else will go with me. I am sure he feels that he is expendable now that the markets are up and things seems to be stabilized. He better have some phone conversations recorded as a hedge against his importance decline.........

Fri, 12/04/2009 - 16:33 | 152923 cougar_w
cougar_w's picture

It's Punch & Judy for the yeast people. Though it might also mean that TG is leaving and wanted to perform a service for GS on the way out; since TG won't have to be the one handing GS their next trilion in bailout, he can afford to act tough. Tough talk now would please the peons. But the next TSec will have to figure out how to parse a bailout so as not to get him/herself hanged.

Fri, 12/04/2009 - 16:34 | 152928 Anonymous
Anonymous's picture

Odds of TT getting suicided this weekend have just tripled

Fri, 12/04/2009 - 16:38 | 152941 Catullus
Catullus's picture

Finally! Something has to give here. There have to be dozens of disgruntled secretaries and assistants and escorts that have stories to tell. The squid doesn't get dumped like this.

Fri, 12/04/2009 - 16:41 | 152948 john_connor
john_connor's picture

Posturing just in time for mid term election build up.  Geithner replaced by Jamie Dimon and Bernanke replaced by Larry Summers.  Then O can claim "change" just in time for mid terms.  Status quo continues.

Fri, 12/04/2009 - 17:06 | 153006 myshadow
myshadow's picture

ben's hearings have been a joke.  The dems have been way too accomodating and three  republican crackers, corker, bunning and vitter, have given him grief.  If he isn't confirmed, and the President tries to put larry there, all hell will break loose.  I really don't think he could be confirmed.

Fri, 12/04/2009 - 18:39 | 153218 deadhead
deadhead's picture

Politically, the chances of Summers getting his dream job are zero. I'm not going to waste my time explaining the reasons on this one, it is just not going to happen politically.  Thank goodness for that I should add.

Fri, 12/04/2009 - 16:48 | 152957 Uomo senza nome
Uomo senza nome's picture

It is now mainstream news, From Bloomberg:

"Dec. 4 (Bloomberg) -- Treasury Secretary Timothy Geithner criticized the record bonuses expected to be paid by big banks this year and refuted claims by Goldman Sachs Group Inc. that it would have survived without government aid.

Taking aim at what he called “an era of irresponsibly high bonuses,” Geithner said all banks -- even those that have repaid government aid -- need to restrain the amount they pay their leaders and tie compensation to long-term goals."

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=aCUCZcFhssuY&pos=1

Fri, 12/04/2009 - 16:48 | 152963 Anonymous
Anonymous's picture

I'm with D.O.D. and others - not real.

Fri, 12/04/2009 - 16:53 | 152975 Anonymous
Anonymous's picture

I put up a post last week when Tim gave his congresional talk, or it might have been the other day in an interview. I said, this guy really really really whole heartedly believes what he says, imho, this is more proof, he really believes he saved the financial sytem, okay we can disagree on whether it was right or wrong, yet, this is more proof of what he really beliefs. He's mad he's getting blowback from crap the financials are doing, ie, GS and others. He obviously feels confident enough now to start telling some truths, and really possible maybe following thru on real reform. If this is true, he might turn out to be, possibly, the real deal, meaning, he believed what he did was right, saving it all, and that he has great regrets on not policing better in the past, and going forward he really does understand all of the problems, and come hell or high water these big trading firms will not do it again to him, and the u s of a.

okay, could be wrong, yet, have counseled folks for years, and the key is getting a complete understanding of how they think, more info comes out on him, he might be a good trooper after all, i like he shot back on this point, he did not have too, there was no win in for him at all, and normally he keeps his mouth quite, not on this, he is definitely pissed at these guys, IMHO

Fri, 12/04/2009 - 17:33 | 153080 Miles Kendig
Miles Kendig's picture

Uncle Robert is cutting him loose or Tim is being supremely stupid.

Fri, 12/04/2009 - 18:18 | 153177 MsCreant
MsCreant's picture

Okay Tim, the jig is up,

It was really, really, really, brave of you to post Anon on ZH, talking about yourself in third person. That took guts, we know you're scared. First, go pick up a fresh pair of underware, the odor will draw attention. Next, find some eyebrows (for a disguise). Do not, we repeat, do not go back to your unsellable home. Armed GS and real estate agents will be waiting to intercept you.

You have to make your way into ZH headquarters. Miles Kendig, our operative, will be available to assist you over the internetz. We will stay here in the comments section to help you as best as we can.

You are not alone.

Fri, 12/04/2009 - 20:01 | 153362 Anonymous
Anonymous's picture

Underware? is that like overwear? The (mis)spelling on this sight is almost as bad as the misuse of words.

Fri, 12/04/2009 - 23:17 | 153578 Anonymous
Anonymous's picture

Sure is! That's site, btw, as long as we're being all spellingly tonight.

Fri, 12/04/2009 - 18:23 | 153191 JuicyTheAnimal
JuicyTheAnimal's picture

Damn Timmy, aren't you too busy to be posting about yourself on ZH? 

Sat, 12/05/2009 - 19:33 | 154105 Anonymous
Anonymous's picture

You're quite a kidder, 152.

The sarcasm is weak though. Nice try.

Fist bump.

Fri, 12/04/2009 - 17:31 | 153063 Miles Kendig
Miles Kendig's picture

Goldman, like the fictional Agent Smith is always right.  Except when it comes to commodities.  Goldman no longer needs the US because they have ridden the US gravy train right into bankruptcy and now it is China's, Brazil's & India's turn for the age of Goldman.

I am left wondering though what an economic waterboy like Napoleon Dynamite, er, Frederic Mishkin ala China, Brazil or India will actually look like and will that slumdog be featured in another Bollywood hit?

Fri, 12/04/2009 - 17:30 | 153072 virgilcaine
virgilcaine's picture

Imagine being Secy of Treasury and never having had to work a real job before..

He started at Kissingers office as a clerk or something, then  NYFRB and Dept of Trsy.

 

 

Fri, 12/04/2009 - 17:38 | 153094 Anonymous
Anonymous's picture

Timmy has some temper issues and they may be helpful in providing this administration some appearance of getting tough with the commercial banks. The reality may well be that such outbursts are set-up in advance and approved and scripted by his lordship. The question remains: What is the squid pro quo ?

Fri, 12/04/2009 - 18:22 | 153188 MsCreant
MsCreant's picture

This whole post was  a shaggy dog set up for "squid pro quo."

I like it, I like it!!

Fri, 12/04/2009 - 17:49 | 153119 Anonymous
Anonymous's picture

Thus endeth the career of Mr. Geithner.

You don't cross the squid.

Fri, 12/04/2009 - 18:23 | 153190 MsCreant
MsCreant's picture

Don't bite the Sachs that feed you.

Fri, 12/04/2009 - 18:42 | 153222 Unscarred
Unscarred's picture

Sach biting = bad

Fri, 12/04/2009 - 18:01 | 153141 Cursive
Cursive's picture

Lulz, Timmay, lulz!

Fri, 12/04/2009 - 18:04 | 153149 Anonymous
Anonymous's picture

See....who says we're BFF!

Fri, 12/04/2009 - 18:10 | 153159 Brett in Manhattan
Brett in Manhattan's picture

My guess is that all the Fed bashing, and, now Geithner coming down on GS is an attempt to restore the public confidence, RIGHT AT THE END OF THE RALLY.

"A rally starts in gloom and ends in glory"

Hoyle (1898)

Fri, 12/04/2009 - 18:21 | 153184 Sqworl
Sqworl's picture

It's all rock throwing at populist outrage. Just like Obama asking SEIU to protest infront of Vampire Squid office last week.  They are all laughing all the way to the bank of taxpayers.

Fri, 12/04/2009 - 18:24 | 153193 bruiserND
bruiserND's picture

Re "Systemic collapse"

 

http://www.youtube.com/watch?v=NBNveSW6ahg

 

.................................................................................................................... Arming Goldman With Pistols Against Public: Alice Schroeder
Share | Email | Print | A A A

Commentary by Alice Schroeder

Dec. 1 (Bloomberg) -- “I just wrote my first reference for a gun permit,” said a friend, who told me of swearing to the good character of a Goldman Sachs Group Inc. banker who applied to the local police for a permit to buy a pistol. The banker had told this friend of mine that senior Goldman people have loaded up on firearms and are now equipped to defend themselves if there is a populist uprising against the bank.

Fri, 12/04/2009 - 18:43 | 153224 deadhead
deadhead's picture

I'm with the group that says that Obama/Rahm sent that worthless phucknut Geithner out to say some bad things about Goldman to counter the blistering Obama is getting on the banks from the HuffPo base of his.

Nothing more to it than that....

Psssst....hey Rahm, you're a stupid phucknut too.

Fri, 12/04/2009 - 20:00 | 153361 geopol
geopol's picture

Good sense of the situation..

 

 

Fri, 12/04/2009 - 20:11 | 153369 faustian bargain
faustian bargain's picture

I reckon they're going to try to get their money's worth of sword-falling and scapegoating out of Timmah, before he just gets depressed and leaves.

Fri, 12/04/2009 - 21:55 | 153491 MsCreant
MsCreant's picture

Fake suicide, then go live with Elvis and 2Pac.

Sat, 12/05/2009 - 11:57 | 153856 D.O.D.
D.O.D.'s picture

Yeah, c'mon over to my hood timmxy, let's have a chat about cheating, and how we deal with it on this side of the tracks...

Fri, 12/04/2009 - 19:29 | 153317 Anonymous
Anonymous's picture

GS may have not needed the govt bail out but could they have survived if AIG had not made good on GS's puts?

Fri, 12/04/2009 - 19:37 | 153327 Anonymous
Anonymous's picture

it's hard to believe the end of the rally is near with the DJTA making new highs today. looks like this rally somehow still has more to go.

Fri, 12/04/2009 - 23:04 | 153567 Anonymous
Anonymous's picture

Yes, indeed, spare Change You Can Believe In.

Goldman the cartel should be voted out of existence.

Do NOT follow this link or you will be banned from the site!