Thursday, November 21, 2013

Geithner moves from US Treasury to Wall Street - ONCE A WALL STREET BANKSTERS' SLUT, ALWAYS A SLUT?

Geithner moves from US Treasury to Wall Street

Prior to becoming Obama’s treasury secretary in 2009, Geithner was president of the Federal Reserve Bank of New York for six years. That was the period when Wall Street made hundreds of billions of dollars by turning the US housing market into a Ponzi scheme, on the basis of high-risk sub-prime mortgages and toxic mortgage-backed securities. As head of the New York Fed, Geithner played a key role in facilitating the inflation of the housing and credit bubble, with all of the associated fraudulent practices. The bubble burst in September 2008, ushering in the worst economic crisis since the Great Depression.

No comments: