Timmy Called To Principal Issa's Office
It would be a waste of brain space even to attempt to hide how much I love this story. Issa is rightly angered that Geithner and NY Fed lawyer Thomas Baxter gave a private briefing last week to Rep. Cummings, and to no one else. So he's demanding that Turbo show up early for school on Wednesday morning and give him the same information he gave to Cummings and presumably to Democratic committee staffers.
Geithner isn't required to appear for the meeting, and he probably won't, which makes it even more awesome. Because then Issa is gonna be all the more righteously pissed off when he confronts Geithner in the actual hearings, just an hour later.
In case you didn't notice from the my 3 previous stories this morning, Darrell Issa is already angry about coordinated efforts by NY Fed lawyers to fight AIG transparency and disclosure. Just a spark of intransigence from Geithner, and Issa goes ballistic. Three, two, one...pissed-off, blast-off.
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Source: Politico
The top Republican on the House Oversight committee is feeling snubbed by Treasury Secretary Timothy Geithner.
Geithner and the New York Federal Reserve’s Thomas Baxter met earlier this month with Rep. Elijah Cummings (D-Md.) in advance of the committee’s Wednesday Capitol Hill hearing on insurance giant American International Group. But Rep. Darrell Issa (R-Calif.) now wants the whole committee to get the scoop.
Issa is asking that Geithner and Baxter brief the full committee privately at 8:30 a.m. Wednesday, before the panel hears publicly from Geithner about his role in allowing AIG to pay out pricey insurance contracts to banks after it had received a taxpayer bailout.
“While I appreciate the diligence of Congressman Cummings in receiving this briefing, I believe it is important for all of the Members of the Committee to receive such a briefing before this hearing,” Issa wrote in his letter, which was obtained by POLITICO.
This pre-briefing is not likely to happen, a committee aide said. But the public hearing will provide for one of the more interesting inquests of the year. Specifically, lawmakers contend that Geithner and the New York Fed pressured AIG not to disclose the full payment of credit-default swap contracts to major banks after the insurance giant got a giant bailout.
Geithner is perhaps one of the most embattled members of the Obama administration, so Republicans are likely to use the opportunity to draw fresh blood and score points against an already unpopular White House.
New York Fed officials, the Troubled Asset Relief Program’s inspector general and a former AIG official are expected to attend. A committee aide said Monday that former Treasury Secretary Hank Paulson is also likely to attend.
Jan 26, 2010 at 7:52 AM
Reader Comments (16)
Me, TOO! The things we live for these days.
Yeah if you can get the Wall Streeters and Bankers to move all the Roll's, Bently's and the other high dollar iron they're buying with our taxes out of the way.
Why can't all of you just support our government instead of criticize it?
You can some of my other opinions at www.mandajuice.com
Amanda Del Buono ( Mandajuice)
Why can't all of you just support our government instead of criticize it?
You can some of my other opinions at www.mandajuice.com
Amanda Del Buono ( Mandajuice) "
Sounds like that "mandajuice" you're plugging has a high alcoholic content.
Why can't all of you just support our government instead of criticize it?"
Amanda, if you want to know why so many of us are angry and critical of the government, maybe you should read some of the articles on this site. You may or may not know, but the bank bailouts that began in 2008 and continue right up to the present time will cost your children and my children many hundreds of billions, if not trillions, of dollars. Hardly any of this expense was necessary to "save the financial system." What our govt has done is save bank executives and bank bondholders at taxpayer expense. Every step of the way, people like Ben Bernanke and Tim Geithner have served the interests of the large commercial banks and the investment banks ("Wall St.") at our expense. Much of it they have obscured with very complex programs run by the Federal Reserve. Other parts they have simply tried to hide.
You have a very interesting blog and a snappy prose style. The story about your surgery was fascinating -- I never knew anything about that before.
But I hope you will take the time to read about why the bailouts happened, whom they benefited (not us!), and why we have to stop them before they do it all over again -- because they just might. The financial system is still very fragile.
And for the record, I'm a CONSERVATIVE! Against bail-outs of virtually every. single. kind. You guys go on with your bad selves (and preferably leave my name out of it)!
Email Address: amanda@delbuono.com
Internet Address: c-24-6-171-109.hsd1.ca.comcast.net/24.6.171.109
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@ the real amanda...
there's the info i have on the person who used your name...
consider it a blessing (or curse) that you found this blog...you might enjoy some of the videos in the right column...
start with 'hank the hammer gets hit by a tree'...it's pretty entertaining...
"Is it ok for a grown man to giggle like a school girl? AIG is the gift that keeps on giving"
James must be a Goldman Sachs employee.