No One Likes a Coward, Tim Geithner: NY Fed's FAIL Alum Gets Ripped into on Capitol Hill


Timmy is cornered by Satan regarding that soul deal a few years back.
Geithner insists that he'll get right on that as soon as he has one.



Poor Tim Geithner. No one likes him. No one. Paul Volcker probably doesn't even like him and they bat for the same diabolical team!

Oh snap! I guess the plan has been revealed and the jig is up! Via WSJ, Richard Shelby (R-AL) wonders wtf Tim Geithner thinks he's trying to achieve and fronts off the Fed agenda. Hawt!:

The Federal Reserve has put on the charm offensive lately, but it clearly hasn’t won over everyone on Capitol Hill. Sen. Richard Shelby (R., Ala.) lit into a Fed alumnus today — Treasury Secretary Timothy Geithner — at a hearing on the government’s financial rescue efforts.

Ahem, if the Fed is laying on the charm, why in the hell would they want Geithner to head up that effort? Sorry WSJ but I am willing to wager that the Fed only wants Geithner to advance their efforts via the Treasury but is also overjoyed to have the idiot off of Fed payroll. Not even the Fed likes Tim Geithner!

“Another thing that the TARP has accomplished is covering up the egregious failures of our banking regulators over the past decade,” Sen. Shelby said at the hearing, where Mr. Geithner was the only witness. “TARP funds have saved financial institutions whose failures would have cast a bright light on many of our banking regulators. This should come as no surprise as many of those banking regulators are now running TARP programs, including Secretary Geithner himself. As president of the New York Fed, Secretary Geithner was the chief regulator of many of the financial institutions with the most serious problems, including Citigroup.”

“Unfortunately, the Treasury also appears to be using the TARP to advance its regulatory reform agenda by placing Secretary Geithner’s prior employer, the Federal Reserve, at the apex of our financial regulatory regime. I would point out to the Treasury secretary that there are serious unexamined questions regarding the Fed’s failure to fulfill its preexisting regulatory responsibilities. With that in mind, I will view with great skepticism any move to give the Fed expanded authority.”

Go get 'em, killer, I'll be here waiting once you've found the bodies, Shelby. I could point you to them but I'm pretty sure you already know (*coughGoldmanSachsandtheNYFedcough*)

If we're looking at TARP, I think we're missing the point. Hopefully Mr Shelby is aware of this. I am also reluctant to buy into any Congressional dog and pony show since we all know how those usually work out. At least this doesn't reek of Barney Frank.

Jr Deputy Accountant

Some say he’s half man half fish, others say he’s more of a seventy/thirty split. Either way he’s a fishy bastard.

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