Dec 18, 2013
Geithner’s Fed Made AIG Pay Banks to the Max
Posted on Oct 28, 2009
That Timothy Geithner must love the big banks he spends all day talking to. Back when he was in charge of things, the Federal Reserve Bank of New York forced AIG to pay off Wall Street tycoons for all those toxic bets, even though the mega-insurer was busy trying to negotiate a better deal.
Goldman Sachs alone got $14 billion that will never be recouped by taxpayers, who shelled out $180 billion to keep AIG from going under.
So, despite dodging his taxes, failing to regulate Wall Street as it destroyed the global economy and worrying more about reckless bankers than cash-strapped taxpayers, Geithner got promoted to run the American economy.
How is it that real unemployment is at 17 percent and this guy still has a job? —PZS
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