Friday, January 8, 2010

AIG & Geithner

Yesterday, I read blog after blog and article after article discussing how Geithner as President of the New York Fed told AIG to not disclose the favorable swap payments to Goldman Sachs and other large banks.  We were disconcerted, because this is not a new story.  We have discussed this on our radio show and in this blog on several occasions over many months. Other blogs have discussed this issue in the past.  The story has hit mainstream media through this New York Times blogBloomberg had a piece also. 

Has it now become "acceptable" for the main stream media to discuss the actual facts?

And let us not forget Geithner's involvement as New York Fed President in the the stock owner's fraud over disclosure of losses in the Merrill Lynch acquisition by Bank of America.

As I have been saying for months, Geithner and Larry Summers need to go.  They will have no trouble finding work with one of the large banks, which have become even larger under the Paulson/Geithner restoration of the financial pre-crisis status quo.


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