Perpetual Treasury Roadshow Stops In London: Geithner Has The NY Fed NERVE To Criticize 'Light Touch U.K. Regulation' (BBC VIDEO)

Video - U.S. Treasury Roadshow makes a pit stop in London

Watch the hands; they are key to understanding Geithner.  The more stupid he assumes you to be, the more he will use them to explain arcane concepts, like failed Treasury auctions.  Listen for the line about the U.S. having gotten rid of weak firms, and try not to spit out your afternoon beverage.

Treasury Secretary Tim Geithner made some waves in England today by scolding British regulators for their light touch, which he says added to the turmoil of the global financial crisis.  Speaking to the BBC, Geithner said that the strategy of luring financial activity to London away from New York gave the country's banking systems a unhealthily large share of the economy.

---

Geithner on Geithner...

PBS Video:  Geithner on Finreg - Charlie Rose - July 22, 2010

Not sure how he keeps a straight face through the lies.  He blames regulators in a general sense with no acknowledgement of the role he played as President of the New York Fed.

---

Comments

[john]

Barclays beats Lehman in $11 billion "windfall" suit

http://www.reuters.com/article/2011/02/23/us-barclays-lehman-idUSTRE71M0C420110223

[snip]

(Reuters) - Lehman Brothers Holdings Inc's hurried sale of much of its U.S. operations to Barclays Plc at the height of the financial crisis was fair, and its bankruptcy estate is not entitled to recover an $11 billion "windfall," a federal judge ruled.

[Cheyenne]

Tax Cheat doesn't waste any time lying here, claiming in the first 22 seconds that while he'd projected over $350B in taxpayer losses from direct equity injections into the banks, that money will almost certainly turn into a profit.

You'd have to be an idiot to believe that, and yet it's a myth that gets repeated endlessly in MSM. No one ever bothers to ask about the Fed's $10 TRILLION alphabet soup of bailout programs starting with PDCF.

Are mainstream news media people (excepting Dylan Ratigan) really this stupid, or are they just paycheck whores?

[S. Gompers]

They have always been paycheck whores.

[robertsgt40]

Giethner is so full of shit he can't talk straight. I thought he was going to have a seizure with his hands.