Wednesday, September 26, 2012

TurboTaxTimmy's BFF: Citibank

Good ol' Timmy helps his friends!  See Timmy help.  See Timmy flush tax dollars into the toilet!!

Tim Geithner, the US Treasury secretary, acted to shield Citigroup’s bondholders and management from accountability at the height of the financial crisis while taxpayers were left on the hook, a former US bank regulator has alleged.
Ms Bair claims that Mr Geithner was relentless in his advocacy for Citi, both in its attempts to buy faltering lenders and when it came to applying restrictions tied to its various rescue packages by the government. “Tim seemed to view his job as protecting Citigroup from me, when he should have been worried about protecting the taxpayers from Citi,” Ms Bair wrote of Mr Geithner, who she nicknamed the “bail-outer in chief” of the 2008 crisis.  --AOSHQ quoting FT

Bair is not a lightweight; her complaint should be taken seriously.

That isn't all.  Bair flat-out opposed Pandit as President of Citi, too.  But Bobby Rubin (pal of Democrats) prevailed....

1 comment:

Tim Morrissey said...

Matt Taibbi's summation a year ago still rings true: "Everything is F'd up and nobody went to prison."