Fed official alleges Geithner may have alerted banks to rate cut

Comments (20)
justinolcb wrote:

whooops another questionable matter from the Obama administration… the list continues to grow daily

Jan 19, 2013 4:27am EST  --  Report as abuse
diddums wrote:

Nothing to see here. Move along please. We all know the law does not apply to the Geitners of this world.

Jan 19, 2013 4:46am EST  --  Report as abuse
Adam_Smith wrote:

Justinolcb is too quick to criticize the Obama administration. Timothy Geithner was at the time president of the New York Federal Reserve which is independent of the Executive Branch. (I do fault Obama for choosing a banker buddy like Geithner to head Treasury, but that is another story).

Jan 19, 2013 7:04am EST  --  Report as abuse
artvet2 wrote:

One of the prime movers responsible for the housing crises and the aftermath which papered over the criminal responsibilities of the U.S. Government relative to its preferential treatment of big financial institutions and friends of the Obama group. This guy will go down in history as a snake.

Jan 19, 2013 7:09am EST  --  Report as abuse
Gashmore wrote:

Conservatives have this wonderful talent for time shifting. I believe this was a good year and a half before Obama became president.

Jan 19, 2013 7:10am EST  --  Report as abuse
ordinaryman wrote:

Strange. If it concerns the stock market directly, divulging of critical information would come under insider trading. This issue might not be illegal, but is surely an ethical issue.

Jan 19, 2013 7:19am EST  --  Report as abuse
QuietThinker wrote:

@justinolcb This happened under the G. W. Bush administration not the Obama administration. Geithner has served under both administrations, but only under the Bush administration were there an unwritten standing order to favor the fat cats.

Jan 19, 2013 8:16am EST  --  Report as abuse
Rollo2 wrote:

A tax cheat and thief! Thats all you need to fit in to Washington. The Senate was complicate, they had no problem approving him to watch over the financial well being of the United States. The fox in the hen house is a week comparison.

Jan 19, 2013 8:54am EST  --  Report as abuse
derdutchman wrote:

Allegations do not evidence make. We have an assertion. We have a denial. We have no direct evidence and no corroborative evidence of any wrongdoing. What we have is Jeffrey Lacker’s “understanding” of what Ken Lewis “understood” from conversations with a person whose “understandings” of intervention differed from Jeffrey Lacker’s “understanding.”

Jan 19, 2013 9:08am EST  --  Report as abuse
Jim_Dandy wrote:

and this sleaze was confirmed by the senate, do you think the senate is just as guilty? Probably the whole gov’t!

Jan 19, 2013 9:32am EST  --  Report as abuse
randburg100 wrote:

Hmmmmm…I seem to recall the US getting its knickers in a twist over LIBOR..presumably the rest of the world can now get apoplectic over the US…oh, wait, the US authorities & banking system are perfect and beyond reproach.

Jan 19, 2013 10:27am EST  --  Report as abuse
rapier wrote:

The banking giants didn’t need Geither to tell them unlimited help would arrive if needs be. The only surprise was the Lehman Bros. didn’t get it. They drew the short straw. Bad luck.

Jan 19, 2013 10:35am EST  --  Report as abuse
Leadbelly wrote:

Pretty funn seeing all the toads jump on this story with their own agenda. Obama? Libor? Kids, this just the age old story of rich cronies taking care of their own. No need to spin it.

Jan 19, 2013 11:01am EST  --  Report as abuse
CMEBARK wrote:

justinolcb maybe you need a history lesson. Bush was president in 2007. Paulson was running Treasury. We now know thanks to the Bloomberg FOIA suit that the banks were barrowing millions from Treasuy to run their daily operations. Go to the Broomberg website and get educated.
The public statements of Bush and Paulson that the economy was “fine” was an outright lie. McCain said the same thing one day and then changed his mind the next. He didn’t apparently have a clue…giving him the big benefit of a doubt.
The fact is that the Fed ignored the hand writing on the wall. This is another reason we need to break this incestuous merry go round of appointments in Washington. If you are going to blame Obama for anything it’s for appointing and listening to Geithner instead of Summers.
Obama should have done what FDR did and that was declare a bank holiday and proceeded to break up these banking cartels and proceeded with some criminal prosecutions.

Jan 19, 2013 11:09am EST  --  Report as abuse
SanPa wrote:

@justinolcb — The sad thing is that there are too many uninformed people armed with a vote. The US is being propelled backward by the ignorant, being manipulated by news media controlled by foreign interests.

Jan 19, 2013 11:26am EST  --  Report as abuse
paintcan wrote:

Isn’t the core ethical dilemma whether or not BOA was informed improperly. It’s not part of the Federal Reserve system and that was information that if leaked, could have been considered inside information. In fact it doesn’t say that and neither does Lacker. I gather the Fed governors can talk to each other whenever and as much as they like.

If no one is going to be rolling heads this is just boring. Why are they really talking about it at all? That’s what the title suggested and it doesn’t pan out in the text. I was sooo disappointed. It’s all too technical and not at all exciting.

Jan 19, 2013 1:49pm EST  --  Report as abuse
pbgd wrote:

So what, it had been discussed in every newspaper and on every talkshow. The banks were well prepared even without Geithner. Banks are not stupid – they have their own research departments.

Jan 19, 2013 2:01pm EST  --  Report as abuse
Truth_Teller wrote:

Geithner is disgusting Obama appointed lying hypocrite and the government is corrupt. Tell us something new.

Jan 19, 2013 3:27pm EST  --  Report as abuse
JohnDrake07 wrote:

Maybe why Timmy is going home to spend more time with his family…alerted to the fact that the DOJ is looking into criminal charges against him, Tim decides to throw in the towel and leave the position of US Treasury Secretary…could it be there is a room at JPMorgan or Goldman SAchs with his name on the plaque over the door?

Jan 19, 2013 5:14pm EST  --  Report as abuse
thesafesrufer wrote:

The powerful individuals at the heart of America’s financial sector in both the public and private sector are out of control. We need to break up the big banks which the Obama administration allowed to massively increased the percentage of the banking sector they control since January 21, 2009.

Obama and his officials spout anti-establishment rhetoric and turn around and turn over our financial system to the big bamks.

Jan 20, 2013 7:48pm EST  --  Report as abuse
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