U.S. President Obama nominated Timothy Geithner to be Secretary of the
Treasury. While president of the New York Federal Reserve Bank, he had played a
key role in forcing AIG to pay Goldman Sachs’ claims dollar for dollar. Put
another way, Geithner, as well as Henry Paulson, Goldman’s ex-CEO serving as
Secretary of the Treasury as the financial crisis unfolded, stopped AIG from
using the leverage in its bankrupt condition to pay claimants much less than
full value. At Treasury, Mark Patterson was Geithner’s chief of staff.
Patterson had been a lobbyist for Goldman Sachs. It would seem that the "real change" president put together a Wall-Street administration.
The full essay is at "President Obama and Goldman Sachs."
The full essay is at "President Obama and Goldman Sachs."
