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Report: N.Y. Fed Knowingly Bought Lehman Junk Under Geithner

CaféAuLait

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Report: N.Y. Fed Knowingly Bought Lehman Junk Under Geithner

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Moneynews - Report: N.Y. Fed Knowingly Bought Lehman Junk Under Geithner



More generally, this revelation drives home three related points. First, the scandal is on-going and it is huge. President Obama must hold Geithner accountable. He must determine what did Geithner know, and when did he know it. All internal documents and emails related to the AIG bailout and the attempt to keep Lehman afloat need to be released. Further, Obama must ask what has Geithner done to favor his clients on Wall Street? It now looks like even the Fed BOG, not just the NYFed, is involved in the cover-up. It is in the interest of the Obama administration to come clean. It is hard to believe that it does not already have sufficient cause to fire Geithner. In terms of dollar costs to the government, this is surely the biggest scandal in US history.

Read More:

New Economic Perspectives: Timmy-Gate: Did Geithner Help Hide Lehman’s Fraud?


New York Fed Warehousing Junk Loans On Its Books: Examiner's Report

Read More:

New York Fed Warehousing Junk Loans On Its Books: Examiner's Report
 

Jarhead

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CaféAuLait;2161582 said:
Report: N.Y. Fed Knowingly Bought Lehman Junk Under Geithner

Read more:


Moneynews - Report: N.Y. Fed Knowingly Bought Lehman Junk Under Geithner



More generally, this revelation drives home three related points. First, the scandal is on-going and it is huge. President Obama must hold Geithner accountable. He must determine what did Geithner know, and when did he know it. All internal documents and emails related to the AIG bailout and the attempt to keep Lehman afloat need to be released. Further, Obama must ask what has Geithner done to favor his clients on Wall Street? It now looks like even the Fed BOG, not just the NYFed, is involved in the cover-up. It is in the interest of the Obama administration to come clean. It is hard to believe that it does not already have sufficient cause to fire Geithner. In terms of dollar costs to the government, this is surely the biggest scandal in US history.

Read More:

New Economic Perspectives: Timmy-Gate: Did Geithner Help Hide Lehman’s Fraud?


New York Fed Warehousing Junk Loans On Its Books: Examiner's Report

Read More:

New York Fed Warehousing Junk Loans On Its Books: Examiner's Report

This was known when Geithner was going through the confirmation process. Heck, we in NY knew it well before then.
The news media opted it was not important enough for the people to konow about it.
They preferred reporting on a deer that ran through the lobby of a hunting lodge.
 

uscitizen

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Ohh there is plenty the govt is not telling us on this failure.
Concerning the govt, banks, the market and businesses.
 

Jarhead

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Ohh there is plenty the govt is not telling us on this failure.
Concerning the govt, banks, the market and businesses.

The government has the responsibility to maintain a certain level of confidence in the people.

I dont mind it when the governemnt does not tell us how "bad" things are.

I do mind it when the media makes that decision
 

Jarhead

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An Obama apointee is corrupt??!

Say it ain't so joe!

No. Not corrupt.

Inept.

Geithner is not what President Obama painted him out to be. He is by no means the best out there for the position.
 

LibocalypseNow

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Geithner is a corrupt buffoon in my humble opinion. He knew what was going on. Besides,the man couldn't even file his own taxes properly using Turbo Tax. Yea i feel completely comfortable knowing that corrupt buffoon is now Secretary of the Treasury. Yikes!
 
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I wondered at the time why they were so sold on him. The man is a tool.
 

Toro

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The government did what it believed it had to do to save the system.

However, it has undermined the authority and prestige of the Federal Reserve, it has transferred wealth from savers to speculators, and it has undermined the foundations of the dollar.
 

Yurt

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unfortunately, if this had been a bush appointee....all we would hear is how bad bush is and its all his fault
 

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