Tim Geithner had evidence of a financial crime of epic proportion — so he wrote a memo.
That’s about the only way you can sum up the then-New York Fed boss’ actions several years ago, when he was confronted with fairly compelling evidence that banks under his direct supervision were manipulating Libor — a key benchmark of global finance.
The Libor scandal has become pretty big news, with Barclays ousting its CEO and agreeing to pay a large fine even as it cooperates with civil and criminal law-enforcement authorities now investigating other big banks.
But it doesn’t end there: There’s also evidence that top regulators, including Geithner, now Treasury secretary, knew about and largely ignored the mess.
On Friday, the New York Fed released documents that supposedly exonerate Geithner. Selective leaks to friendly news outlets ensured kind first-day coverage, with one headline reading “Geithner tried to curb bank’s rate rigging in 2008.”
Read More at The NY Post. By Charles Gasparino.
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Obama's whole Administration is CORRUPT….what else should we have expected for a Chicago Political THUG
Of course Geithner yawned at an epic fraud, He is a fraud.
What can you expect from a tax cheat after all just all Tim has to do is look at Obutthole his boss.Obutthole makes the mafia look like choir boys
Do you think that if we, in fact do get rid of Obama, will have investigations into his administration and prosecute those liars and thieves to the point of hard jail time? I certainly hope so, but again, I would expect Obama to do a blanket pardon for 'everyone he ever spoke with or even thought about while in office'.
Something like this could set a whole new precedent for a POTUS exiting office. Let us watch and see if the next administration has the gonads to clean up this government scum and slime.