Barofsky On Geithner: "We Should See People In Handcuffs"

Tyler Durden's picture

There is no point in recapping the ongoing vendetta between former SIGTARP Neil Barofsky and former head of the NY Fed, and current Treasury secretary and resident TurboTax expert Tim Geithner. One need but follow the former on Twitter for a quick and concise sampling of the sentiments harbored vis-a-vis the latter. However, in the following interview Barfosky does touch on some points which in the context of the recent Liborgate, should be brought front and center, especially since the increasingly apathetic US audience seems to not care about one bit (as opposed to their distant cousins across the Atlantic for whom Lieborgate has become a daily distraction). Namely, what Barofsky says is that Geithner and other regulators who allowed Lieborgate to proceed should not only lose their job but we should "see [Geithner] in handcuffs."  Sadly that will never happen as it would actually be a deterrent to future crime among the highest echelons of America: something which is just not allowed to happen in a system whose very survival is increasingly reliant on rampant criminality.

To wit:

While Geithner pushed for broader reforms of LIBOR, he did not explicitly warn of possible rate manipulations and neglected to notify U.S. regulators at the Department of Justice, the Commodity Futures Trading Commission and Securities and Exchange Commission to the wrongdoing, notes Barofsky.

 

It was a "message to the banks 'if we commit fraud, we break the rules, don't worry, we're too big — they'll never bring the appropriate steps against us,'" Barofsky says in an interview with The Daily Ticker. "And that is why we've had scandal after scandal after scandal."

 

This was a "global conspiracy to fix one of the most important interest rates in the world," Barofsky continues. "[Geithner] heard this information and looked the other way. Geithner and other regulators should be held accountable, they should be fired across the board. If they knew about an ongoing fraud, and they didn't do anything about it, they don't deserve to have their jobs. I hope we see people in handcuffs."

Full clip: 

h/t TK

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Silver Bug's picture

Until a stream of high up banksters go to prison. The Pillaging will continue. At the moment it is profitable, why would they stop?

 

http://silverliberationarmy.blogspot.ca/

TheCanadianAustrian's picture

I think a stream of bankster blood exiting their skulls might also be effective.

Precious's picture

Turbo Tim -- may it haunt him forever.

ElvisDog's picture

Yeah, right. In the real world, Timmy will retire from Government work into a cushy job at GS, JPM, Citi, or one of the other investment banks. He will live a life of luxury and die comfortably at a ripe old age. He will regret nothing.

Pladizow's picture

There will be NO accountability, only collapse!

ndotken's picture

accountability??? ... hahahahahahaha ... you people crack me up ...

Michael's picture

The communist socialists are coming out of the woodwork to strip us of our guns. Lets just get this strait right now. The 2nd amendment is specifically written so American citizens can kill government employees who get violent on us. To defend ourselves and our families against the 450 million hollow point bullets the government employees just purchased to use on American citizens. Even government drone attacks on civilians can't get US citizens to disarm ourselves. First, guns are for killing federal government employees and other government employees who turn violent on Americans, period.

economics9698's picture

Tony Montana: I kill a communist for fun, but for a green card, I gonna carve him up real nice. 

AldousHuxley's picture

Handcuffs are for petty thieves.

 

Executions are for traitors.

 

Also make sure they lose all personal wealth derived from corruption.

zhandax's picture

Bulls-eye!  You want this shit to stop, take their money.  That's the only thing these cocksuckers understand.

Missiondweller's picture

Not sure I'd be posting those types of thoughts even if its meant to express the sentiment that the government should be afraid of the people and not the other way around.

 

Hope you're posting from a library or you may get a visit from Big Sis (DHS)

Michael's picture

Not worried, just stating the facts.

Real Estate Geek's picture

Then you're going to love the latest gem from the little fascist running NYC.  He wants police to go on strike as a way to blackmail the public into relinquishing the remnants of The Second Amendment.  Of course, that wouldn't apply to his own security detail; just the cops supposedly protecting and serving the hoi polloi--who are paying their fucking salaries and pensions!


http://www.dailymail.co.uk/news/article-2178383/Mayor-Bloomberg-calls-police-strike-public-demands-gun-control--arms-sales-rocket-FORTY-cent-Colorado.html

AldousHuxley's picture

religious salesmen always brainwashing masses into submission with imaginary carrots (aka. heaven after you are dead)

 

If that doesn't work then, there's the police and military to protect assets of the rich first with sticks (beat the shit out of the masses into submission)

 

productive workers are just above the untouchables. Most people forget that.

 

King (the owner)

Advisors (the braines)

Religious, political, intellectual Elites (the good cop)

Police, Military (the bad cop)

Special workers

Not so special workers

Disabled, disenfranchised, young and old

 

azzhatter's picture

Such a little faggot this Bloomberg is. Somebody should take away his right to oxygen

stormsailor's picture

the 450 million hollow points was just .40 caliber.  there were 300 million 9 mm hollow points ordered as well.

Benjamin Glutton's picture

Video of HARRY REID DEMANDING audit of Federal Reserve. Now he says no floor vote? what a POS.

 

http://www.youtube.com/watch?feature=player_embedded&v=oXOsZ7Ad7dM#!

 

Harry Reid said today that Ron Paul's Audit the Fed bill will not be brought up for a vote in the Senate. Remind him of these words(C-SPAN-1/23/1995). Let him know we see his two faces. Phone: 202-224-3542 / Fax: 202-224-7327

Daily Bail's picture

BAROFSKY BOOK EXCERPT - Geithner's Temper And Transparency Exposed: "No One Has Ever Made The Banks Disclose The Type Of Shit That I Made Them Disclose..."

Excerpt:

"Neil, I have been the most fucking transparent secretary of the Treasury in this country's entire fucking history!"  Geithner erupted, in an episode that had Barofsky wondering if Geithner was going to "throttle" him

BeetleBailey's picture

....unless;

The new sport is going after banksters - for sport.

These cunts will get theirs in time.

Geithner's a cunt - just like his douchebag boss, Barry O'Blamercuntasaurus

smlbizman's picture

timmy will just reach out into the ring and make the tag to lloyd....

eatthebanksters's picture

You guys don't get it, Tim Geithner is brilliant!  He knows better than anyone what's good for America!  He even knows better than Obama, that's why he didn't break up Citicorp when Obama ordered him to make an example out of that beig corrupt institution. God only knows why Obama didn't fire him...maybe he doesn't have anyone else who will do the angry dragon.  

 

This whole administration is filled with self impressed theorists who walk around patting each other on the back telling each other how smart and how great they are and how he public just does not understand them, but how they knowwhat's best for everyone. In fact, these fuckers are utterly absent any moral compass or principals and corruption is not a word in their vocabulary.  This shit will end when they have no more tools in their box to manipulate things...that day isl coming sooner than later.  God help these poor bastards when the masses find out there are no jobs to be had, food prices are through the roof, welfare checks are stopped, their pensions are gone and healthcare has become too expensive for all but the most wealthy.  I'll be in the sticks watching from afar...

RobD's picture

angry dragon

Man you made my day. Had to look that one up, still laughing.

geewhiz190's picture

i urge everyone to read "Bailout"  It confirms much of what's talked about on ZH.  I found it riveting and infuriating. Something has to change.  Barofsky should know better than anyone just how f-- up everything is, especially at Treasury.  What a freaking disgrace.

HelluvaEngineer's picture

Thanks for the chuckle.

penexpers's picture

Fuck you, Tim Geithner, and all you other corporatist banking parasites.

 

Carl Spackler's picture

What about his boss, Barack Obama?

That is the one telling Geithner what to do in exchange for campaign donations from the criminal banking types.

Dr. Richard Head's picture

Obama - "AK-47's belong in the hands of soldiers."

Holder - "And Mexican Drug cartels."

NotApplicable's picture

Why bother with the redundancy?

Missiondweller's picture

Good god, no kidding. The UN wants to take our guns away as our government gives guns to Cartel members on the US /Mexico border.

TPTB_r_TBTF's picture

Obama tells Timmy what to do?!  LOL, ... you have no idea how the system works!

It works more along the lines of:

both Obama and Timmy ask Wall Street for "advice".

Tirpitz's picture

No need to ask. The daily marching orders are handed to them before breakfast.

WonderDawg's picture

Wrong again. Obama and Geithner obey the orders they're given by the banking cartel. They're frontmen, puppets, nothing more. They take orders. They do not influence monetary policy, they just front for it.

NotApplicable's picture

How can you state someone is wrong, then restate their entire argument as proof?

Hint: there are quotes around the word "advice."

WonderDawg's picture

Perhaps I misunderstood his post. He seemed to be saying that they colluded. I corrected it by saying they don't have the authority to collude because they wield no influence, rather they just do what they're told. My apologies if this is what the poster meant.

TPTB_r_TBTF's picture

no offense taken.  The original post is not well worded.

When i reread my original post, it sounds almost like "DC hiring consultants from NYC..."

That is certainly NOT what i meant to portray!

TPTB_r_TBTF's picture

to be even more specific,

TPTB give these orders through their banking cartel to numerous govt puppets and henchmen.

TPTB_r_TBTF's picture

ooops, forgot the part

... "before breakfast."

WonderDawg's picture

Right. Sorry if I misunderstood your post. You are correct.

sgt_doom's picture

Well spoken, W-dawg, well, spoken!

My favorite references:

Battling Wall Street:  The Kennedy presidency, by Donald Gibson

Thy Will Be Done, by Gerard Colby with Charlotte Dennett

John Kenneth Galbraith, by Richard Parker

Reading those three should enlighten everyone about both the how and why of the turn America took after the assassinations of the 1960s (JFK, MLK, RFK, etc.).

The culprits are first and foremost, the Rockefeller family --- and that's not just David (and the deceased Nelson), but all of that family.

If people don't or can't understand what's really going on --- namely their Standard Oil and AT&T were only broken up on paper, not ever actually financially divested, simply read the following government reports:

The Pujo Committee's report on the Money Trust

The TNEC study, published 1941 (Temporary National Economy Committee)

Cartels and National Security, Report No. 4, 1944 (Senate Subcommittee on War Mobilization)

Patman Report (from Wright Patman's committee) 1968

Structure of Corporate Concentration, US Senate, 1980

Then you'll grasp why that Forbes listing of the richest in America is pure bunkem!

partimer1's picture

THAT'S REALLY TRUE AND LACKING SO FAR.  If we put a big stick in Jon "superman" Corzine's ass today, and people will stop messing with the law, and behave like real human being.   

madcows's picture

S&L was only 30 years ago.  Many went to jail.  And, here were are a generation later, watching more corruption, more scandal, more theft.  You can punish all you want.  It won't change a thing.  The only way to limit the crime is to put severe regulation in place.   Divide the casinos from the banks.  Limit the leverage taking.  You'll still have Corzine's, but maybe avoid the Lehmans.

 

Or, you could shoot a few of them.  they can't steal from you if they're dead.

NotApplicable's picture

If you think regulation by a criminal syndicate is going to accomplish anything, well, I've got some bad news for you...

madcows's picture

Feel free to start the shooting, then.

WillyGroper's picture

a good start would be enforcing the regulation in place. what a joke!

Real Estate Geek's picture

That's crazy talk!  Next you're going to propose that they enforce existing gun control laws rather than pass new ones.

/sarc

EscapeKey's picture

Marketwatch are too busy showing off their l33t coding skillz to do any actual reporting:

http://blogs.marketwatch.com/livenews/2012/07/26/hello-world/