frank rich writes angry obama editorial

generally rich’s opinion pieces in the new york times are pro-democrat left-tilting screeds. today he seems a little like an angry democrat given to populism. impressively, he takes a page from this blog and goes out of the way to point out that timothy geithner, while at the fed, was one of 3 people who let lehman brothers fail yet saved bears stern and so on and so forth. that he was president of the new york federal reserve means that geithner deserve a considerable bit of blame.

it’s also great that someone with a major newspaper has finally fingered the clinton administration (bill clinton, larry summers, and robert rubin) as haven been complicit in deregulating the banking industry in the 1990s. but what about all the others who voted for it including joe (i live in delaware where most corporations are incorporated to avoid paying state taxes) biden, and nancy pelosi.

timothy geithner gay?

burried in the financial times’ review of the new book ‘house of cards’ is a quote from the book ‘house of cards’ which alludes to the new u.s. treasury secretary (aka the man who pays his taxes many years too late), timonthy geithner’s sexuality. you can read the excerpt at the wall street journal.

well, if eric holder is being touted as the first black attorney general and barack obama as the first black president, why hasn’t someone issued a press statement regarding geithner, a man who may possibly be (if it’s true) the first homosexual u.s. treasury secretary. or perhaps he’s actually not. not gay or not the first gay treasury secretary. the previous one was the first christian scientist treasury secretary. thank god he didn’t need a blood transfusion while he was in office.

rumours aside, geithner is under pressure for having held a press conference last month during which he looked exremely uncomfortable while revealing absolutely nothing regarding his plans to stabilize banks and prop up the u.s. financial system. this in turn sent the stock market into a long slide well below the levels that had been reached last november.

the lack of respect for geithner is starting to surface. bbc world reported today on the group of 20 meeting of finance secretaries in london. when refering to a joint photo being taken, the journalist pointed out the uk chancellor of the exchequer and noted that the french finance minister was sitting on his left yet conveniently neglected to mention timothy geithner who was sitting on his right.

geithner, former president of the new york federal reserve, is part of the trioka which includes bernanke and the former treasury secretary, henry paulson, who had the misguided notion that it would be okay to let lehman brothers fail last september, thereby basically handing barack obama the presidential election.

apparently, according to the new yorker, Geithner rejected a proposal to turn Lehman into a commercial bank, which Goldman Sachs and Morgan Stanley were allowed to do soon after Lehman’s failure.