Tuesday, January 26, 2010


BANZAI7 NEWS--U.S. Treasury Secretary Timothy Geithner on Wednesday will tell lawmakers that he wasn't involved in deciding what information to disclose about controversial payments the rescued American International Group made to its counterparties. [Somebody please ask him who was.]

"I had no role in making decisions regarding what to disclose about the specific financial terms of Maiden Lane II and Maiden Lane III, and payments to AIGs counterparties," he plans to tell the U.S. House of Representatives Government Oversight and Reform Committee, referring to the $62.1 billion in payments and to separate Federal Reserve funding facilities set up to purchase assets from the troubled insurance giant.

WB7: Lets say a bank decides to make a $62 Billion Dollar emergency loan to a client. Do you think the CEO of that bank does not care what is said publicly? If this flimsy defense is true, Geithner is the epitome of a white gloved CEO who knows little about the buffoonery of his underlings.

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