- Libor has been rigged since early 90's at least.
- Geithner says he didn't inform the Department of Justice because "it was in the press." They could have picked up the newspaper.
- Geithner is supposed to be defending the industry and the public, not the criminals.
- Choosing Geithner will go down in history as one of Obama's great mistakes
- On Sandy Weil: His reversal on giant banking behemoths is akin to Galileo deciding after all that the earth is at the center of the universe.
- Everyone in the world is now saying TBTF has got to go (Romney and Obama excluded).
21st Century Economics: 1. Rampant fraud and reckless mismanagement in the financial sector, 2. Public bailouts of the worst actors in the financial sector, 3. Private debt and liability imposed on taxpayers, 4. Monetary policy aimed at recapitalizing insolvent and recidivist banks, 5. Promotion of business leaders and policy-makers who are chronically compromised, 6. Conglomeration of Systemically Dangerous Institutions into a more empowered menace.
Tuesday, July 31, 2012
Taibbi, Spitzer: Libor has been Rigged for Decades, Geithner is a Disaster, Sandy Weil's Pathetic About-Face
Two members of the Front Line demonstrate remarkable calm while discussing Geithner and Weil:
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