Tim Geithner on Honorable Men, Bailouts, and "Offensive Things to Save the Economy"

Geithner doesn't think we buy this, does he? And why is he the one defending Paulson in the first place? Perhaps because he has his own NY Fed sins to atone for that he would rather remain obscured by the Goldman loathing that seems to be in fashion nowadays? Oh how dare I casually toss around such accusations, shame on me.

You know what you did, Timmy, and so do we. I would just like the record to reflect that we'd have to be clinically braindead to have not seen it.


Treasury Secretary Timothy Geithner said Friday that government officials acted appropriately in their dealings with Goldman Sachs Group Inc. during the heat of the financial crisis last year.

Some lawmakers have questioned whether ties between government officials and Goldman Sachs influenced their decisions about which financial firms should be saved. The government's rescue efforts weren't intended to benefit Goldman but to prevent a broader collapse of the financial system, Mr. Geithner said in an interview with The Wall Street Journal and Digg, an online site where 39 million users share articles with one another and rate their popularity. Mr. Geithner was responding to questions submitted and voted on by Digg users in partnership with the Wall Street Journal.

"We have been forced to do just extraordinary things and, frankly, offensive things to help save the economy," Mr. Geithner said. "I am completely confident that none of those decisions…had anything to do with the specific interest of any individual firm, much less Goldman Sachs."

"Offensive" doesn't even begin to describe it but I'm glad Timmy has a grasp on the vulgarity of the situation, that's promising.

"These are deeply honorable men, great public statesmen willing to come serve their country in very challenging times and they did exceptionally good things for the country," Mr. Geithner said.

Separately, Mr. Geithner reiterated the administration's position that it is too soon to tell whether additional measures might be needed to help stimulate the economy but that the administration would "do what it takes to get this economy going again."
Deeply honorable? Oh please, cue the chocolate syrup and porno tracks, Timmy, these guys are skeezy pigs who pimped American taxpayers off to their homies to make sure everyone had their bets covered. That's laughable!

As one comment on the original WSJ article pointed out, this isn't TPTB dismissing the tin foil hat theories of OMG THE GOVT IS IN BED WITH GOLDMAN SACHS!!!!1! but instead a calculated, careful response to the least aluminum-laced concerns of the general public that perhaps we were extended the short end of the stick in this deal. Why should Timmy feel compelled to defend the behavior of his Treasury Secretary predecessor?

Again, I'm willing to bet it's because his hands are just as if not more dirty than King Henry's, except he has the cover the NY Fed to keep him safe. Who do they report to? Certainly not unwashed, ignorant taxpayer!

With all due respect to Mr Geithner (which, by my calculations is around... 0, give or take a point or two), he wouldn't know the definition of "honorable" if he were beaten sideways with a Webster's dictionary.

Nice try though.

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.


Anonymous said...

> "We have been forced to do just extraordinary things and, frankly, offensive things to help save the economy," Mr. Geithner said. <

>"and for that reason, I had to hold my nose and stop those firms from failing". Bernanke on PBS forum <

Did it ever occur to anyone in this line of work that if you did the RIGHT %$#%$# thing in the first place, you wouldn't have to hold your oversized nose or do some offensive thing?

NO? Didn't fire a neuron or two?

I think junior kindergarten kids have a better understanding of ethics and moral hazard than these clowns will ever have.

and then he uses the word "honorable" as a final "fuck you, peasants" to the unwashed masses.

Are we living in a dream? I'd ask you to pinch me but frankly I can't take much more abuse at this point.