tag:blogger.com,1999:blog-7982981413278241287.post7542238962031364248..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: Tim Geithner's Job Is To Rip-Off The U.S. TaxpayerDave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-7982981413278241287.post-38222731961258169962009-10-27T20:04:15.088-06:002009-10-27T20:04:15.088-06:00Gary, no way would I hold my breath for that to ha...Gary, no way would I hold my breath for that to happen. Obama works for Wall Street. Geithner is nothing but a dumb-shit puppet stuck in the office because he'll do anything they tell him to do w/out even thinking about it. I doubt he has the capacity to think about it if wanted to.<br /><br />I'm not sure how bright Obama really is either. But he sure is a smooth talker when he's reading a teleprompter and a better bullshit artist than Clinton or Reagan.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-922937246432782992009-10-27T19:51:09.005-06:002009-10-27T19:51:09.005-06:00"This is the biggest fraud of this decade and..."This is the biggest fraud of this decade and Obama should be asking Geitner to step down immediately."<br /><br />Don't hold your breath waiting for it. The way I see it, Obama works for Geithner and the Wall Street banks, not the other way around.Garyhttps://www.blogger.com/profile/01904446704748470736noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-49321957422160887512009-10-27T12:53:45.410-06:002009-10-27T12:53:45.410-06:00Nice nickname U6 - I like it! Your take is correc...Nice nickname U6 - I like it! Your take is correct. More than likely the swaps monetized by Geithner, with taxpayers money, were not worth anymore than 10 cents - likely worth nothing or created big liabilities for Goldman (negative value).<br /><br />It is MOST likely that Goldman and the other counterparties would have gone bust themselves if this deed by Geithner was not implemented.<br /><br />This is the biggest fraud of this decade and Obama should be asking Geitner to step down immediately.Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-81163061398105845972009-10-27T11:41:31.430-06:002009-10-27T11:41:31.430-06:00I imagine that Geithner et al. would defend themse...I imagine that Geithner et al. would defend themselves by saying that they couldn't allow the big banks to collapse. But, the amount that the banks paid for these swaps must have been far less than the their face value after the crisis. Therefore, even had AIG gone bust, their counterparties would have been out only the amount that they paid for them, much less than the notional amount. Is that correct?U6noreply@blogger.com