January 12, 2010
[efoods]Darrell Issa asks the key question: “If not Tim Geithner then who? What’s wrong with a system that the New York Fed can hand out your tax dollars in these quantities and not think it is particularly important to make sure it’s the right amount.”
And more questions:
“Between November 24 and the time that he became Secretary of the Treasury, Tim Geithner purported to be absolutely engaged in all aspects of saving America. He didn’t go to a monastery for those days. We still have a right to know what Tim Geithner knew and when he knew it and why didn’t he know that we were paying more than double the amount that was commercially reasonable… Certainly Barney Frank doesn’t seem to be interested enough in getting to the bottom of that. More importantly, in the future does the Fed have a right to pay more than a mark to market, simply on the strength of their own decisions and then keep it secretive?”
Finally someone is asking the questions which all other politicians, regulators (Mary Schapiro, how are you today?), and everyone else captured by Wall Street’s indulgences never will.
As for our ideas of who may very well have been the proper party to question, here is one: