GeithnerGate: Love Him or Leave Him?

By | January 26, 2010

An investigation into the government rescue of AIG unearthed emails showing that the NY Federal Reserve, at that time under the control of now Treasury Secretary Timothy Geithner, strongly encouraged AIG to hold back public announcement of parts of its derivatives portfolio and the billions in collateral payments it made to its dealer counterparties.  Many are now calling for Sec. Geithner’s head claiming that he intentionally withheld critical information from American taxpayers; information they were entitled to have as AIG was bailed out with taxpayer money.  Although I can see why his actions in this case would put people off, Sec. Geithner and the NY Fed did not deceive, but protect the US economy.

Full Story Here

Have something to say about what I wrote? Please comment...