Article

2009-10-28 Economy

As NY Fed President, Tim Geithner Charged $13 Billion of Crappy CDOs to Taxpayer Tab

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Posted by Fred 2009-10-28 00:00|| || Front Page|| [3 views ] Top

#1 Just the top layer of slime in the bucket of more than $100 billion of US taxpayers money given to foreign (mostly Euro) banks.

Posted by ed 2009-10-28 00:47|| 2009-10-28 00:47|| Front Page Top

#2 Ed,

The rent-seeker class is trans-national. The care not who they parasite from.

Posted by Bright Pebbles 2009-10-28 07:26|| 2009-10-28 07:26|| Front Page Top

#3 Less here than meets the eye. As Tom Maguire pointed out recently, if the government is going to pledge "full faith and credit" to shore up the banking system, it can't simultaneously be entertaining how to give the bankers a haircut. You can do one or the other but not both, and the Fed chose to cover the banking system. So of course they covered 100% of the CDOs.

Posted by Steve White 2009-10-28 11:08|| 2009-10-28 11:08|| Front Page Top

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