For once, Turbo told the truth on a weekend talk show. Sort of.
We could add that Geithner never paid taxes like a real taxpayer either. Funny sound bit aside, his ongoing attempt to distance himself from Wall Street's leveraged decade is pitiful. You know my thoughts, as President of the New York Fed, Geithner was criminally negligent in his role as Wall Street's chief regulator.
Even Max Keiser agrees.
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CNN Video: Geithner on Fareed Zakaria's GPS -- April 25, 2010
- “I find that the charge that — the myth that I worked in Wall Street all my life, somewhat amusing. But it is part of a narrative that hardened. People came to view the judgments we were making through the prism of a myth … it’s actually very damaging. It’s completely false, of course, and it, you know, should have been corrected a long time ago.”
- “What I say is that I never had a real job.”
Truer words have rarely been spoken.
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Geithner has worked in government his whole life. Before becoming Treasury secretary, he was president of the Federal Reserve Bank of New York, which is a government job but is closely associated with Wall Street. The New York Fed president is selected by a board of private sector bankers and other private sector officials but has to be approved by the Federal Reserve Board in Washington. Almost all of the New York Fed’s profits get turned over to the U.S. government.
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UPDATE: Adding the Keiser clip and a link to Ron Paul and Judge Andrew Napolitano discussing Geithner's criminal behavior while running the FRBNY.
See also:
Zakaria with Geithner from 2009 (outstanding interview)