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That guy also played a terrible role during the bailouts of 2008. We would have been much better off with a treasury secretary with some backbone instead of a p
by maxxxxx 8y ago
That guy also played a terrible role during the bailouts of 2008. We would have been much better off with a treasury secretary with some backbone instead of a pushover like Geithner whose only concern was to keep Wall Street happy.
- gowld 8y agoWhat was wrong with Geithner's response in 2008? wikipedia.org/wiki/Timothy_Geithner tells a pretty positive story, with a mixed bag of wins and failures.
- maxxxxx 8y agoThey bailed out AIG creditors fully, a lot of bank execs got to keep big bonuses for blowing up the financial system. Almost nobody got prosecuted. They went way too easy on the banks. The bailouts should have been a payday loan with punishing interest rates. Instead the bailouts showed that all the talk about creative destruction and free markets where the strong survive applies only to the little guy who loses his job or home . As soon as the big guys feel the pain the rules get changed quickly.