Geitner is a crook.
Timothy Geithner: Guilty of Theft from the American Working Class
BY WICK
– JANUARY 1, 2011POSTED IN: GRAPHIC DESIGN, MY ARTWORK, SPEAK OUT
I will be working on a series of designs to help bring about awareness and understanding of who the major players are in this financial robbery from working and unemployed Middle Class Americans. This is a scandal of disgusting proportions, made in secret, by white collar criminals that pulled off the biggest heist in the worlds history… far worse than things that have caused other men in our countries history to be hung to death. It’s time to wake up people!
Number one in our collection of crook art, is Timothy Geithner!
It is now clear that those who were paid to protect the taxpayer were working for the crooks that cheated the taxpayers.
The head crook was Tim Geithner, who was the head of the New York Fed and is now the US Treasury Secretary. He was responsible to negotiate the purchase of toxic assets held by the insurance giant AIG that were purchased from Wall Street swindlers, Goldman Sachs and others.
The reports on how TARP funds were used stated the following:
The Geithner’s team paid; “an amount far above their market value at the time.”
“There is no question that the effect of Federal Reserve Bank of New York’s decisions — indeed, the very design of the federal assistance to AIG — was that tens of billions of dollars of Government money (YOUR MONEY) was funneled inexorably and directly to AIG’s counterparts (Wall Street),” the Office of the Special Inspector General for the Troubled Asset Relief Program said.
The cost to the taxpayers of this one bailout was well over $27 billion of American taxpayer money.
Why? Did they know what they were doing? Yes, they knew exactly what they were doing! This is another data point in the growing evidence that these Wall Street crooks had government insider help in stealing over $2 trillion from the American taxpayer.
Remember, while Timothy Geithner was the head of the New York Fed he stood by and watched while banks made liar loans, subprime loans, negative amortization loans and no income no asset loans; all of these should have been stopped as they were too risky, but he said nothing. He watched while Wall Street crooks bundled these bad loans, securitized them, and sold trillions of dollars worth of these bad loans as good investments and he said absolutely nothing.
Geithner along with Paulson, Goldman Sachs crook, Ben Bernanke, who is now the presiding Chairman of the Fed, did nothing to stop the fraud.
In fact they screwed us twice; once when they refused to enforce the financial regulations that would have stopped the bad loans from being made and then again when they helped the crooks get their money back from the working class taxpayers.
Some history on Timothy Geithner…
In 2002 he joined the Council on Foreign Relations (CFR) as a Senior Fellow in the International Economics department. He was director of the Policy Development and Review Department (2001–2003) at the International Monetary Fund.
In October 2003 at age 42, he was named president of the Federal Reserve Bank of New York (FED). As President of the New York Fed, he served as Vice Chairman of the Federal Open Market Committee. In 2006, he also became a member of the Washington-based financial advisory body, the Group of Thirty. In May 2007 he worked to reduce the capital required to run a bank.
In March 2008, he arranged the rescue and sale of Bear Stearns. In the same year, he played a supporting role to Henry Paulson, former CEO of Goldman Sachs, in the decision to bail out AIG just two days after deciding not to rescue Lehman Brothers from bankruptcy. Subsequently that decision contributed to worsening the global financial crisis.
During the 2008 Presidential election, Geithner was one of three people tipped to be nominated for Treasury Secretary regardless of whether John McCain or Barack Obama won. On November 24, 2008, then-President-elect Barack Obama announced his intention to nominate Geithner to be Treasury Secretary.
In November 2009, Neil Barofsky, the Treasury Department Inspector General responsible for oversight of TARP funds, issued a report critical of the use of $62.1 billion of government funds to redeem derivative contracts held by several large banks which AIG had insured against losses. The banks received face value for the contracts although their market value at the time was much lower. In the report, Barofsky said the payments “provided [the banks] with tens of billions of dollars they likely would have not otherwise received”. Terms for use of the funds had been negotiated with the New York Federal Reserve Bank while Geithner was president.
In January 2010, Rep. Darrell Issa released a series of e-mails between AIG and the New York Fed. In these e-mails, the Fed urged AIG not to disclose the full details of the payments publicly or in its SEC filings. Issa pushed for an investigation of the matter, and for records and e-mails from the Fed to be subpoenaed. Rep. Edolphus Towns, Chairman of the House Oversight and Government Reform Committee, issued subpoenas for the records and scheduled hearings.
Geithner and his predecessor, former Treasury Secretary Henry Paulson, both appeared before the Committee. Geithner defended the bailout of AIG and the payments to the banks, while reiterating previous denials of any involvement in efforts to withhold details of the transactions. His testimony was met with skepticism and angry disagreement by House members of both parties.
Who was the US Treasury Secretary who engineered this Ponzi Scheme Big Bank Bailout? It was Hank Paulson, who was the former head of Goldman Sachs. They ultimately ended up installing Ed Liddy as the CEO of AIG, and Ed Liddy, himself, is a former Goldman Sachs employee. Now the top aide to Timothy Geithner, Mark Patterson (Treasury Department Chief of Staff since Feb 2009), is a former Goldman Sachs executive. I mean, this whole situation is rife with Goldman Sachs employees. Is this intricate financial intertwining of the Fed, Goldman Sachs, Wall Street and the Council on Foreign Relations just a coincidence? No Way!
It’s time for us to wake up people and realize that we are being robbed blind by people who only care about themselves, their egos and money. I’ve embedded a wonderful documentary below that I hope you will watch and share among your friends and the people you love. It really gives you something to think about… |
