Geithner Vows to Change But Not Bruise Markets, Believes In Keeping Fingers Out of CEO Pay Cookie Jar
Load of bull if you ask me.
Fresh off of his trip to Greece to meet with the global elite of the Bilderbergs (who are supposedly deciding whether to capitalize on the financial crisis as an opportunity to wipe out 2/3rds of the world's population or let the situation stagnate long enough for them to regain control of the free-fall - if you believe sources like Daniel Estulin, who previously revealed leaked Bilderberg agendas familiar to many now that they have come to fruition), Geithner insists that he has no desire to revolutionize Wall Street, only fudge it a little bit.
WASHINGTON (MarketWatch) -- Treasury Secretary Timothy Geithner said Monday he is not in favor of the federal government placing limits on the compensation of top executives of banks that have received taxpayer funds.
"I don't think our government should set caps on compensation," Geithner commented during an interview at an event sponsored by Newsweek magazine.
The government should instead focus on pay incentives at financial institutions. "You had a crisis magnified by people who were paid to take short-term risk," according to Geithner.
These changes will be "relatively simple" to make, he said. Incentives must be tied to long-term factors.
Yeah, yeah, ok Timmy, I buy that line (not).
More importantly (watch the bouncing ball, kids), Geithner is now poised to head to China and use that made-up degree of his to schmooze our favorite creditor.
Geithner is going to China to meet Chinese officials on June 1 and 2. He said "everything" is on the table.
"We want to bring them into the major international cooperative fora where we make broad decisions on how the system should operate, we want them to have a seat at the table [and] we want them to feel invested in making the system work," he said.
"We'll talk about how they are doing ... shifting to a more balanced domestic-demand led growth, and they are going to want to hear how we are going getting the economy out of crisis.
"We want to build a strong relationship," Geithner said.
I bet you do, you little bastard.
Now that Tim Geithner has been prepped with the right lines to advance whatever agenda he's been programmed with, he's off like a wind-up car. Brrrrrrrzzzzzzt, lookie, there he goes!