AIG bailout secrecy could mean Geithner testifies

Jan 8, 2010 Full story: 2NEWS.TV 97

Lawmakers are preparing to investigate revelations that the Federal Reserve Bank of New York, led at the time by Timothy Geithner, pushed for greater secrecy on controversial bailout decisions.

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Obama In Prison

Federal Way, WA

#2 Jan 8, 2010
Crooked, Rotten, Corrupt....
Geithner told them to lie?
No surprise. Geithner is a tax cheat and a marxist.

Time to clean house
Eleanor

Mundelein, IL

#3 Jan 8, 2010
I never did understand why an INSURANCE company was bailed out. Most people/companies BUY insurance in the HOPE that they don't need to file a claim. It would have been cheaper to let AIG fail and ONLY bail out the actual insurance claim/losses. Instead AIG paid itself well, paid the banks for cancelled financial deals, and COLLECTED BIG BUCKS from the government. In essence, this caused the banks to be PAID TWICE. Once from the AIG bailout and once for their own bailout. Tim Geithner's got a lot of "x-plaining" to do ....
JRobert

Benet Lake, WI

#4 Jan 8, 2010
Pdamerica wrote:
The game was over the moment McCain/Palin and Obama/Biden agreed with Bush/Cheney to bailout Wall Street instead of Main Street.
This proves both parties do not represent "We The People"!
And then Obama reinforced the economic downturn by directing most of the "stimulus" money to government employees, once again ignoring the real economic engine of our country...small business.
Dems too crazy

United States

#5 Jan 8, 2010
Obama In Prison wrote:
Crooked, Rotten, Corrupt....
Geithner told them to lie?
No surprise. Geithner is a tax cheat and a marxist.
Time to clean house
Geithner was involved in the beginning with Rubin Summers and Greenspan during the Clinton administration, lying and cheating, what no one told O'bama?
Carol

Fort Smith, AR

#6 Jan 8, 2010
Its such a joke to have a proven liar testify to anything and count it legitimate. But then Obama is acting president.
DJ A

Jefferson City, MO

#7 Jan 8, 2010
I wish the acting president would start acting presidential. Fire Geithner.
NOT an Obamaholic

Redmond, WA

#8 Jan 8, 2010
Carol wrote:
Its such a joke to have a proven liar testify to anything and count it legitimate. But then Obama is acting president.
Simple correction...
"...Obama is TRYING to act like a President," but failing miserably,
and...
It's ALL Bush'es fault anyway...right?
LMAO
Tony

Tampa, FL

#9 Jan 8, 2010
Carol wrote:
Its such a joke to have a proven liar testify to anything and count it legitimate. But then Obama is acting president.
geithner sees obama get elected doing the same thing as he has always done, then obama puts geithner in a non-elected policy making position.....
why would geithner think there is anything wrong with how he operates.

there really is no point of an investigation. it's just an act for the public, everything will go on as before.
A few lies here , a few lies there.....a few payoffs here , a few bribes there......everything is fixed, everything is ok.......

now, back to the important stuff......passing a illegal forced healthcare bill.
Sam

Buena Park, CA

#10 Jan 8, 2010
They should have give us the money to spend instead of AIG and the banks to steal!
Pdamerica

Bay Shore, NY

#11 Jan 8, 2010
JRobert wrote:
<quoted text>
And then Obama reinforced the economic downturn by directing most of the "stimulus" money to government employees, once again ignoring the real economic engine of our country...small business.
THIS IS THE REAL TRUTH AND BOTTOM LINE OF BOTH REPUBLICANS AND DEMOCRATS!

There are only a small handful of authentic liberals in Congress and even smaller handful of authentic conservatives with absolutely zero power.

The system is corrupt and both parties will not nominate an authentic liberal or conservative for president and many other positions.

Example 101:

Ron Paul received millions and millions of votes all across America and was not allowed to speak at the Republican convention.

Hillary Clinton vs. Jonathan Tasini Senate Democratic primary and the New York media totally shut the real liberal Tasini out with zero exposure.

Joe Liebermann corporate hack vs. Ned Lamont liberal.

BILL 'CORPORATE' CLINTON AND BARACK "CORPORATE" OBAMA ENDORSED THE CORPORATE INDEPENDENT LIEBERMAN INSTEAD OF THE LIBERAL DEMOCRATS LAMONT!

Now Arlen Specter the corporate hack is being backed by Obama and his corporate Democrats.

THIS IS OUR REAL FIGHT IMO!
Pdamerica

Bay Shore, NY

#12 Jan 8, 2010
JRobert wrote:
<quoted text>
And then Obama reinforced the economic downturn by directing most of the "stimulus" money to government employees, once again ignoring the real economic engine of our country...small business.
25 Top Democratic Consultants Benefit Corporate America
A Real News exclusive / Bush Republicans Benefit Corporate America
http://tinyurl.com/37twkj
http://www.realnews.org/stories/2007-06-01_25...

Insurance: Money to Congress
http://tinyurl.com/7ae8jm
http://www.opensecrets.org/industries/summary...

Pharmaceuticals / Health Products: Money to Congress
http://tinyurl.com/kklzae
http://www.opensecrets.org/industries/summary...

==========

Bush Republicans are not conservative and Clinton Democrats are not liberal!

They all work for Wall Street and K-Street not Main Street!

Ron Paul Authentic Conservative
http://tinyurl.com/3ldue3
http://www.campaignforliberty.com/

Ralph Nader Authentic Liberal
http://tinyurl.com/2powf
http://www.votenader.org

Oil & Gas: Money to Congress
http://tinyurl.com/67oymj
http://www.opensecrets.org/industries/summary...
BRAVO

Redondo Beach, CA

#13 Jan 8, 2010
DJ A wrote:
I wish the acting president would start acting presidential. Fire Geithner.
Shoulda never been confirmed after the tax cheat info came out....
Liar Liar

United States

#14 Jan 8, 2010
He'll just LIE!!!

These banker bailouts was the largets heist in American history and nobody cares. They are NOT going to tell you where the money went. Well, we know it went to several offshore banks.

Sorry bastards....

The lengths law enforcement will go through for a corner store robbery for 85.00 dollars knows no bounds. But HUGE heists like this get NO ATTENTION and NO JAIL time.
self fulfilling

Gordon, GA

#15 Jan 8, 2010
What's the problem?

This is a guy who became head of the Treasury - including IRS - in spite of cheating on his taxes. Suddenly people are surprised he's a crook?

The Obama administration's penchant for pathological lying makes Bill Clinton look like a saint, and the media and Dimocrats love him for it.

Nothing will happen to Geithner or any others in the current gang.

"In a Democracy, the people get the government they deserve"
- Alexis de Tocqueville
Chicago Hope and Change

United States

#16 Jan 8, 2010
Liar Liar wrote:
He'll just LIE!!!
These banker bailouts was the largets heist in American history and nobody cares. They are NOT going to tell you where the money went. Well, we know it went to several offshore banks.
Sorry bastards....
The lengths law enforcement will go through for a corner store robbery for 85.00 dollars knows no bounds. But HUGE heists like this get NO ATTENTION and NO JAIL time.
Your right wing conspiracy is just nuts.
This is Obama’s pick, not one of Bush's corrupt cronies.
CHANGE is here.
You will see.
Burt

Englewood, CO

#17 Jan 8, 2010
Corrupt crook conniving
Spies

Pulaski, TN

#18 Jan 8, 2010
I consider these people to be subversives, spies and moles as they move back and forth between Wall Street, K Street and the high offices of our government.

As time passes more people are hopping on board the idea that these people do what they do for that reason alone, co-opting our government to serve their own purposes.

The overwhelming need and seemingly desperate mission to keep their financial doings a secret, especially where the Federal Reserve is concerned about being audited, keeps getting closer and closer to possibly exposing this junta every day because of the overwhelming stench of suspicion that their practices and policies generate.

I believe it is a financial coup from the inside that needs to be brought down in it's entirety because it is a threat to the very existence of our country.
progressive

Lamoni, IA

#19 Jan 8, 2010
Dems too crazy wrote:
<quoted text>Geithner was involved in the beginning with Rubin Summers and Greenspan during the Clinton administration, lying and cheating, what no one told O'bama?
Phil Gramm and the Republican Congress, and Greenspan, who was the darling of the non-regulation crowd, were responsible along with Rubin and Summers, for the suppression of the investigation of derivatives, as shown in the Frontline report called A Warning, available on PBS on-line. It was well explained. Nothing was said about Geithner in that context. What is it that you are alleging, and what are your sources? Are you repeating something Fox or Rush that we would not believe? or is there a legitimate news source? and if so, explain what the involvement was. anyone can bring false accusations.
progressive

Lamoni, IA

#20 Jan 8, 2010
Spies wrote:
I consider these people to be subversives, spies and moles as they move back and forth between Wall Street, K Street and the high offices of our government.
As time passes more people are hopping on board the idea that these people do what they do for that reason alone, co-opting our government to serve their own purposes.
The overwhelming need and seemingly desperate mission to keep their financial doings a secret, especially where the Federal Reserve is concerned about being audited, keeps getting closer and closer to possibly exposing this junta every day because of the overwhelming stench of suspicion that their practices and policies generate.
I believe it is a financial coup from the inside that needs to be brought down in it's entirety because it is a threat to the very existence of our country.
you use the term these people, which is not very precise as to whom. I would especially include Paulson, would you? I would especially blame Greenspan, in the first place, for not regulating derivatives, which he had power to do. would you? who do you call members of "this junta"? Are you just a partisan republican, attacking the Democrats, or are you anti-all Fed persons and Wall Street persons? Could you give specifics of things that were done wrong, in your view, and of who did them? What do you think about the report that the TARP funds have been repaid, with interest? What do you think about Barofsky and Elizabeth Warren and their oversight of the TARP funds. One needs to know more specifics about your views. Otherwise, it could be just another illuminati type conspiracy theory. What do you think of Summers, for example? Wht do you think of Phil Gramm, dick Armey, Billy Tauzin, and their new employment, and the way they were helpful to certain interests when they were in congress?
progressive

Lamoni, IA

#21 Jan 8, 2010
Sam wrote:
They should have give us the money to spend instead of AIG and the banks to steal!
What do you think of the proposal that the money paid back by the banks and others who were bailed out, should now be given to help ordinary Americans with loans to small businesses, and to homeowners who are in difficulty through no fault of their own? Democrats mostly want to use the repaid funds for this purpose, do you like that idea? also, why not just have enough investigations of what happened, to make the big financial interests uneasy about what would be required of them if they ever tried it again, instead of complaining about what already happened? and why not have new regulations that do not let the big financial interests engage in so much reckless speculation, and oversight and transparency. why not abolish too big to fail, through anti-trust, perhaps? Why not see whether some of these big institutions are trying to speculate again, in new ways, and avoid any new regulations, because they want to create some new fraudulent bubble to replace the bubble that burst? and then prevent those sorts of frauds? instead of your general protest, why not get specific and demand reforms? Look at what Barofsky and Elizabeth Warren are doing re tARP funds - they are very skeptical about whether it was done correctly, and also about whether it is impossible to find out who got the money, and how it was used. Treasury keeps claiming they do not know and do not think they can find out since money is supposedly fungible, or whatever - sounds like a fungus or infection to me, and a good analogy! Barofsky and Warren are trying to find out. You can see them on cspan, online or on TV when they are appearing at hearings.

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