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I am beginning to think, actually for the last few weeks that Summers and Geithner are going to help bring Obama down. Something has to give!!
Geithner’s Last Stand
…………The indignation over AIG will serve a useful purpose if it focuses public attention on the much larger issue — the failure of the entire approach that Treasury Secretary Tim Geithner and White House economic czar Larry Summers are using to rescue the banking system.
It would be hard to find two administrations more different than Bush and Obama. Yet, when it comes to bailing out financial firms, Geithner’s approach is a seamless continuation of his predecessor, Hank Paulson’s. It makes you wonder who is the permanent government. Perhaps Wall Street?
Even the players are the same Goldman-Citigroup crowd. The well named Neel Kashkari, the Citigroup executive brought in by Paulson to run the TARP program, is still in place. Geithner’s top assistant, Mark Patterson, is from Goldman. And most of the concepts are coming from the same Wall Street crew. LINK