Quote from Landis82:
Geithner worked for Stephen Friedman at the NY Fed. Everyone knows this. It was Friedman who worked at Goldman Sachs, not Geithner.
And as far as your Bloomberg article is concerned highlighting the decision to pay back various counter-parties to the AIG credit default swaps ($440 billion) in FULL, rather than .40 cents on the Dollar ( which is what ONE counter-party was willing to agree to, not all counter-parties ), you conveniently ignore articles that discuss all of the uncertainty surrounding allowing AIG to go bankrupt at the time; as if there was another realistic and quantifiable choice/response by the Fed given the environment that the financial markets and economy were in last Fall.
http://www.propublica.org/article/does-aig-really-need-to-pay-its-counterparties-in-full-407
[urlhttp://online.wsj.com/public/resources/documents/aig111609.pdf[/url]
You also fail to mention that the decision to make the counter-parties whole and avoid lengthy and uncertain litigation was essentially HANK PAULSON's, and Tim Geithner was merely a "soldier" used to execute PAULSON'S decision.
You really need to stop throwing a bunch of crappy "generalizations" out there and do some homework and have a solid understanding and command of the FACTS before you try and present your claims and argument. Otherwise, your continual misrepresentations and "sloppy" presentation dramatically lessen the credibility of your posts.
Crappy generalizations....
Geitner was merely a foot soldier....
sloppy presentation......
Stop drinking the juice! i'm not trying to win over the jury... this is an internet thread ! oh and by the way I dont want foot soldiers running my government, you may and you may think it was ok for them to negotiate like they had no choices. They had a choice its too bad GS needed the additional money. You guys and your condescending BS is too much. Foot soldiers, you have got to be kidding , in charge of the New York Fed. Bite me and my sloppy presentations. Well George Bush what a sly little fox he was installing beuracratic hacks , who dont know any better to run our government institutions. Hank Paulson and Geitner and gs and aig took care of the situtation too bad they did such a great job for the "bank" of GS. There couldnt be much juice left could there BE? Sloppy presentations come down from mount argument and have a cup of tea. By the way does it seem like i'm really trying to make persuasive arguements? This subject matter doesnt require alot of thought and if i have you a little just think where you wuld be if i spent any time on this!