Tag Archives: Timothy Geithner

Jan 26 2010

Independent investigator is launching two probes into the government’s rescue of American International Group Inc.


An independent investigator is launching two probes into the government’s rescue of American International Group Inc. and the insurer’s subsequent payments of billions to big banks.

Neil Barofsky, the special inspector general for the Troubled Asset Relief Program, says the Fed withheld documents he requested when auditing AIG’s “backdoor bailouts” of banks it did business with, including Goldman Sachs Group Inc. Barofsky’s allegations came in prepared testimony provided to members of the House Committee on Oversight and Government Reform and obtained by The Associated Press.

The Federal Reserve Bank of New York produced 250,000 pages of documents after committee Chairman Edolphus Towns, D-N.Y., issued a subpoena earlier this month.

The committee is investigating why the New York Fed, then led by Treasury Secretary Timothy Geithner, agreed to pay banks billions to cancel their contracts with AIG, which is based in New York.

Geithner approved the deals, which may have cost taxpayers billions more than necessary because he did not demand concessions from banks AIG did business with, according to Barofsky’s earlier audit.

“If anyone at the Fed thought that this investigation will stop after Wednesday’s hearing they are completely mistaken,” said California Republican Darrell Issa, the committee’s top Republican. “There has been a widespread effort by officials at the New York Fed to thwart transparency, and we will continue to pursue this investigation for as long as it takes to get the truth.” Read more at SOURCE

The investigations into Obama’s Radical Government has started and after the elections in November we shall see many more investigations into his radical people that surround him. The dirt will come out in the wash my mother alway said. Its been awhile since I ask, Are you better off today under the leadership of Obama than you were 6 years ago? Maybe the millions unemployed could answer that the best!

Jan 9 2010

Treasury Secretary Geithner Caught In His Own Watergate!

Treasury Secretary Timothy Geithner should heed the lessons of Martha Stewart and Richard Nixon: It’s not the crime, it’s the cover-up.

Geithner’s active appointment schedule with Wall Street’s elite during his time as president of the New York Fed as evidence of his true allegiance. These meeting included lunches with brokerage CEOs at such power haunts as the Four Seasons and corporate dining rooms.

Geithner looks bad enough by being in the same room with AIG. He looks downright filthy in trying to keep the nosy public from following the money, its own money.

He may survive the outcry and the congressional hearings being threatened, but as an effective proponent of Wall Street reform, he’s lost credibility. SOURCE

The truth is starting to come out and this voter feels that its going to get very messy before its over! Not only is Geithner a tax dodger but a crook to boot!

LINKS:

(1)  Geithner Funneled Tax Money To Goldman Sachs

Jun 16 2009

Obama Seeking More Government Control Over Companies

The Obama administration this week will propose the most significant new regulation of the financial industry since the Great Depression.
Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies such as insurance giant American International Group Inc. Read More

The dictator Obama at work trying to take more control over America and its people! Americans we better wake-up soon or we’re be in a World of hurt when he is completely in control of all our companies! Next he will be telling us what we will pay for food and needed products for our families! Wake-up Americans!