Saturday, May 16, 2009

Is Timothy Geithner Corrupt? Mr. Loophole

The American Spectator reports:
From his time at the Federal Reserve Bank of New York to his turbulent four months so far at Treasury, Geithner has made a career out of seeking—and usually finding—ways to do what most people thought the rules wouldn’t allow.

His nose for loopholes was critical to his orchestrating the bailout that sparked the bailout inferno: the March 2008 save of Bear Stearns. Similarly, his Treasury Department has wielded the Great Wall Street Bailout in ways Congress never imagined its law would be used. Even his hiring practices at Treasury involved finding narrow and dubious loopholes in President Obama’s ethics rules. Geithner admitted that it was his staff that requested the bonus loophole in the executive pay law—the loophole that allowed the AIG bonuses that sent Wash ing ton into convulsions for a week.
You'll want to read this one.It's one you will not forget.