Tuesday, March 10, 2009

BAD BANKS, BAD ANALYTICS, BAD CABINET OFFICERS

Here's a very short video of Chris Whalen from Institutional Risk Analytics discussing Geithner, "nationalization" of the banks, the so-called "stress tests," and a few other issues. Institutional Risk Analytics seems to monitor and analyze banks. As to Whalen, his resume is long -- having worked for the House of Representatives, the Federal Reserve, Bear Stearns and Prudential Securities -- and impressive. Impressive in the sense of knowing what's happening on the inside. I leave it to you to judge it otherwise. The whole video is less than two minutes long. (H/T Jesse)



As you'll see, Whalen asserts that the only reason Obama appointed Geithner as Treasury Secretary was to "protect Goldman Sachs." Hard to argue with that based on the AIG deal. Or based on Geithner's stellar performance while head of the NY Fed.

Why would Obama have made such a choice? I guess we all have to supply our own explanations to that one.

Meanwhile, I think anyone who's followed this story the last couple weeks can agree that Geithner won't last much longer. Time to start turning the weaponry on to Summers.

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6 Comments:

Blogger Weaseldog said...

Remember last week when Professional Investment Counselor, Obama Hussein Barak said we should all go out and buy stock?

Did anyone here take his professional investment advice?

I think it's clear that Obama either doesn't have a clue what he's doing, or doesn't care.

He might learn over the course of the next couple of years, but too much damage will have been done by his continuation of Bush's policies, for him to fix it while in office.

Not that we had a choice in the matter. While Obama promised change and lied, McCain promised to accelerate Bush's policies.

9:40 AM  
Anonymous Applesaucer said...

"Why would Obama have made such a choice? I guess we all have to supply our own explanations to that one."

I think Goldman Sachs actually thought they were pulling a fast one on the rest of us with Geithner -- that we would all think of him as an "Honorable School Boy" type instead of the toady that he is.

I don't think they realized just how many people out there were on to him.

Anyway, the fact that he has appeared to be such a school boy is turning out to be his undoing.

But I led off with your question. So why, why, why would Obama have made such a choice?

I won't provide my own answer right here. However, what I will say is that where one stands on this issue tells much about where he sits.

Applesaucer

10:10 AM  
Blogger DED said...

That's the video I was trying to point you to yesterday, Mike, over at TheDailyBail. :)

10:50 AM  
Blogger steves said...

As you'll see, Whalen asserts that the only reason Obama appointed Geithner as Treasury Secretary was to "protect Goldman Sachs."

I have also heard some suggest that Geithner is being set up to be the fall guy, since he was never an Obama confidant. They suggest that they will just can him at some politically expediant moment.

7:24 PM  
Blogger Mike said...

the fact that he has appeared to be such a school boy is turning out to be his undoing.

Which is unfortunate.

That's the video I was trying to point you to yesterday, Mike, over at TheDailyBail. :)

Yeah, sorry about that, DED.

I have also heard some suggest that Geithner is being set up to be the fall guy, since he was never an Obama confidant. They suggest that they will just can him at some politically expediant moment.

Which may be true now. But the way they rammed his nomination through in the face of the whole tax brouhaha shows that the Administration wanted him pretty badly.

6:13 AM  
Blogger DED said...

No problem. Just confirmed my belief that you'd find it interesting. :)

11:03 AM  

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