Weekend Economists Pull Timmy Out of Well (and Throw Him Back In)May 30-June 1, 2014 [View all]

[Demeter]

Yup. That's him. That's the bastard subject of this Weekend's investigation:

Timothy Franz Geithner, born August 18, 1961, an American economic policy maker and central banker who served as the 75th United States Secretary of the Treasury, under President Barack Obama, from 2009 to 2013. He was previously the president of the Federal Reserve Bank of New York from 2003 to 2009. He now serves as president of Warburg Pincus, a Wall Street private equity firm.

Geithner's position included a large role in directing the Federal Government's spending on the crisis, including allocation of $350 billion of funds from the Troubled Asset Relief Program enacted during the previous administration. At the end of his first year in office, he continued to deal with multiple high visibility issues, including administration efforts to restructure the regulation of the nation's financial system, attempts to spur recovery of both the mortgage market and the automobile industry, demands for protectionism, President Obama's tax changes, and negotiations with foreign governments on approaches to worldwide financial issues...https://en.wikipedia.org/wiki/Timothy_Geithner

Timmeh, as he is sometimes referred to, has just written a book about his service to the banksters country. It has been less than graciously received by those who care about such things. To start the slanging match, I'd like to offer this pithy remark from Charlie Pierce:

My Favorite Sentence Ever From Timothy Geithner By Charles P. Pierce on May 29, 2014

http://www.esquire.com/blogs/politics/timothy-geithner-book-052914



I am plowing through Timothy Geithner's new book, which I believe is titled, I Saved The Fking World, You Ungrateful Curs, or something like that. Anyway, I'm only about a quarter of the way through and I found what I believe is going to be the best sentence in all of the book's 580 pages. It appears on page 111.

"Central bankers did not have a good record of identifying bubbles in advance, and neither did bank supervisors."

Yes, and the owners of the Triangle Shirtwaist Company did not have a good record of identifying fire hazards in advance, either.