http://market-ticker.denninger.net/a...-Geithner.html
Looks like 2 smoking guns stinking up the room
Yeah we printed it?
Baxter admits Timmy's sign off?
Does anybody else smell the overwhelming scent of white collar crime?
Paulson gets the cake though - he admitted (under oath!) that The Fed just blatantly printed the money to rescue AIG and the banks (!!!)
So let's see - it wasn't his decision, it wasn't Timmy's decision, and yet at the very same time the entire world was about to come to an end unless the Congress immediately handed over $700 billion of taxpayer money?
Oh, and let's keep going. Paulson got skewered with what I pointed out in August of last year - that is, that he knew full well he wasn't going to buy any "toxic assets" prior to the final vote being taken in The House but notified nobody in Congress of this fact.
Then Mr. Baxter's turn comes and he says that Geithner signed off on paying AIG counterparties at par.
Didn't Timmy claim he had no part in the negotiations with AIG and the determination of what to pay? I thought he did..... maybe I misheard, but I seem to remember that he has continually maintained that he had no part in the decision process and in fact recused himself......
Oh wait - here it is!
I had no role in making decisions regarding what to disclose about the specific financial terms of Maiden Lane II and Maiden Lane III, and payments to AIGs counterparties.
Uhhhhhhh Turbotax Timmy? How do you explain that?
