And ~ Barney Frank Wants Hearings To Probe Geithner, NY Fed And AIG
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Update: It's fascinating to read the pushback from apologists on DKos who would put party before country, power before right, corporate welfare before the general welfare and well, you get the point. There's been scads of this kind of trash talk from Democrats leveled at progressives working with conservatives in efforts to hold Ben Bernanke's renomination to chair the Fed, calls to audit the Federal Reserve and calls to investigate Rahm Emanuel's funky timeline from his stint on the board of Freddie Mac through charges of a cover up: "the actions of the White House have blocked any investigation into his activities while on the board of Freddie Mac from 2000-2001, and facilitated the cover up of potential malfeasance until the 10-year statute of limitations has run out."
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GAH. How much longer will we have to suffer through the pretense from the White House that their financial advisory house is in order? Is it too much to ask of Obama that he sever himself from Bushco-era disaster-mongers like Tim Geithner and Ben Bernanke?
From FDL ~ Geithner’s New York Fed Ordered AIG to Violate Securities Law in 2008
Yves Smith over at Naked Capitalism commented on a report from Bloomberg News that just about made my eyes pop out of my head. Evidently, Darrell Issa got his hands on some 2008 emails between AIG and Tim Geithner’s New York Federal Reserve, wherein the NY Fed orders AIG to make material misstatements on SEC filings
...Not only were they hiding that AIG was set to pay the banks 100 cents on the dollar, turning the AIG bailout into a second back door bailout for the banks, they were trying to hide the reason that the bailout was needed.
More from Bloomberg news with this ~ Ben Bernanke's ivory tower doesn't have a mortgage
And this ~ Wall Street hubris soars as crisis goes to waste





