Good morning. Kind of light this morning — a lot of looking back on what was a big day yesterday:
State of the Union YouTube Responses (PBS NewsHour)
Geithner’s faulty apologia (Reuters)
What was actually done [in the AIG bailout] shows a breathtaking lack of imagination and legal skill on the part of the people involved. The Fed and Treasury do have an obligation to save the system, but they have no obligation to save each and every member of the system. That’s a big difference.
This is why I am just speechless when I hear Geithner testify that though he was utterly surrounded by ex-Goldman people they somehow had NO IMPACT on his judgment to save Goldman. How blind and unaware can you be?
Just enough to be Treasury Secretary, apparently.
This is the title of a typical incendiary blogpost (Coyote Crossing) Funny stuff.
Cheers to trustworthy journalism!
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