Timothy Geithner in American Conspiracies


On Principles & Values: OpEd: presided over Fed's era of disastrous risk-taking

Obama's treasury secretary, Timothy Geithner, while president of the New York Fed, suggested to Paulson and other economic bigwigs in June 2008 that the president should be given "broad power to guarantee all debt in the banking system." Considered politically unfeasible at the time, as it potentially put taxpayers on the hook for trillions, the government has since come to largely embrace "his blue-sky prescription." During his five years as the New York Fed, Geithner presided over "an era of unbridled and ultimately disastrous risk-taking by the financial industry," while wining-and-dining with all the titans. So are we surprised that Geithner's calendars show the top execs of Goldman Sachs, Citigroup, and JP Morgan being the select group he's always on the phone with? (At least 80 contacts during Geithner's first seven months.)
Source: American Conspiracies, by Jesse Ventura, p.177-178 Mar 8, 2010

The above quotations are from American Conspiracies:
Lies, Lies, and More Dirty Lies that the Government Tells Us, by Gov. Jesse Ventura.
Click here for other excerpts from American Conspiracies:
Lies, Lies, and More Dirty Lies that the Government Tells Us, by Gov. Jesse Ventura.
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