Geithner and Goldman, Thick as Thieves

What was Timothy Geithner thinking back in 2008 when, as president of the New York Fed, he decided to give Goldman Sachs a $30 billion interest-free loan as part of an $80 billion secret float to favored banks? The sordid details of that program were finally made public this week in response to a court order for a Freedom of Information Act release, thanks to a Bloomberg News lawsuit. Sorry, my bad: It wasn’t an interest-free loan; make that .01 percent that Goldman paid to borrow taxpayer money when ordinary folks who missed a few credit card payments in order to finance their mortgages were being slapped with interest rates of more than 25 percent.

One wonders if Barack Obama was fully aware of Geithner’s deceitful performance at the New York Fed when he appointed him treasury secretary in the incoming administration. Robert Scheer – – Click To Read More…

The Democrats pushed Geithner after the 2008 election for Treasury Secretary, because in their words, “he was the only man that could do the job.” This was in response to his income tax revelation that he did not pay $42,072. in employment taxes for 4 years while he worked for the IMF giving your money away. Robert Scheer muses that Obama perhaps did not know, but we like to think that Obama knows and does not care. – DSMW