Methinks It May Be Time for Mr. Geithner to Go

Reggie Middleton's picture

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Anonymous's picture

clearly Tiny Tim should be indicted, but don't hold your breath....

Ripped Chunk's picture

Seems time reveals that most things called "conspiracy theories" presently end up being revealed later as truth.  It just takes time. If we have any time left............

http://www.blacklistednews.com/news-6930-0-5-5--.html    

"33 Conspiracy Theories That Turned Out To Be True, What Every Person Should Know…"  I thought this was a good summary.

Cold comfort in the fact that the internet allows news to travel more quickly than ever. In the past you just had to shut up the mainstream media. Ah the good old days!

Please keep up the great work and most importantly keep the faith.

Anonymous's picture

I second that opinion. Geithner must go. Fire that fucker. Then indict him.

Anonymous's picture

If Timmy the Tax Cheat looses his job whats to stop him skipping the country, and taking all his cash (our money) with him?

We have a better chance of getting to the bottom of this skullduggery, and prosecuting the perpa-traitors if they are still in their respective seats of power. I still want to know who placed those puts on BS after the NY Fed's big round table right before the crash.

I have only been on this site a few months, but I am simply loving the real investigative journalism, and the commentary that has so long been absent in the main stream media.

Keep up the great work, both authors and commentators.

bugs_'s picture

Arrogance of power, arrogance of unaccountability.

rc whalen's picture

Good post.  The real question raised by this latest example of Geithner's criminal behavior is why Mary Schapiro and the other SEC commissioners are sitting silent.  We prosecute hedge fund gurus for insider trading, but when a government official illegally interferes with the disclosure of public companies, the SEC does nothing.  Tim Geitner needs to go at Treasury, but that may only give us Chris Dodd as a replacement.

Jefferson's picture

The reason that Schapiro and the rest of the clowns at the SEC remain silent is they are bought and paid for.

The fact that an admitted tax cheat can become Secretary of Treasury tells everybody all they need to know about the nature of the scum running our government.

But, of course, there is a much bigger agenda at work than simply looting the taxpayer.

It is apparent Geitner et. al. are out to INTENTIONALLY bankrupt the US government.

Meanwhile the banking oligarchs are getting their most recent marching orders at meetings with the BIS.

Say goobye national sovereignty.

 

 

 

Anonymous's picture

Pegging JPMs derivative exposure at 85tril vastly overstates what their risk is. The majority of that is interest rate swaps where the notional plays no roll other than deciding what the payments will be based on and the risk is a very small percentage of the overall notional.

Reggie Middleton's picture

You need to read the whole document to get the gist of my message, my friend.

Anonymous's picture

I understand and agree with some of the message. I just don't like when irrelevant eye-popping figures are used as support.

Anonymous's picture

You mean to tell me that you prefer Summers over Geithner ?

Oh My.....

Look I know about this great CDS program......

And I cannot wait to tell you about alternative investments such as private placements....

Mr. Summers.....You used to work at Harvard ?

And you are aware they have have lost quite a bit of $dough....?????

FEEL BETTER NOW ?????

Anonymous's picture

Let's think this way....

Let's say I give you a banking license....

I let you margin 30:1.....

I loan you money at 0%....."All you want"....

I then sell you my short term debt at 2%.....

Mom and Pop.....give you their life savings....
You pay them 0%....nothing....and do it for years....
Which forces them to spend what they have....

For every $1000000 in MOM and Pop savings you have .....I pay you 2%....BUT the 2% is paid on 30X1000000=$30,000,000....Thus you get $600,000....

And Mom and Pop get nothing....

Is this in the interest of Mom and Pop ?

Or

Is this in the interest of banks only ?

Since taxes are the source of the 2% paid.....of
which the majority is paid by Mom and Pop as well....

What does this suggest ?

Anonymous's picture

+1000

It suggests that the "free money" the banks are getting from Uncle Ben is not really "free" but is actually being stolen from savers through Bubble Ben's ZIRP policy. I have lost tens of thousands in potential interest income in my MMs and T-bills the last two years due to ZIRP.

Anonymous's picture

Exactly right. And every time I look at my accounts at Vanguard, I get just a little bit more pissed off about it and one day soon, I'm going to find someplace else to put my Roth and Traditional IRA monies because I'm being ripped off. I just didn't worry about that much because I thought the end was so close last spring that why should I bother?