We don't know if it's just us but it feels like there's more than a little populist rage in the air? More than a year after the largest corporate bailout in history many see the writing on the wall ... some banks and insurance companies are too big to fail ... the rest of us not even appearing to be of the least concern.
Now we're hearing that AIG was instructed to keep secret from anyone and everyone important details regarding the company's multi-billion dollar bailout; and that those instructions came from none other than the New York Fed, led at the time by none other than our current Treasury Secretary Tim Geithner!
Even though we the people "supposedly" now own a big chunk of AIG, it doesn't exactly instill confidence that the company that lost more than $40-Billion in 2008, subsequently handed out millions in bonuses. We have always wondered what would happen to a small, local insurance company that took people's hard-earned cash in exchange for insurance policies, only to learn that the small company couldn't make good on its consumer's claims? Can you spell F-R-A-U-D?
Anyway, here's a very interesting piece we came across today by Henry Blodget on HuffingtonPost.Com. It provides five or so very simple reasons why it's time for Mr. Geithner to go.
Caveat: We admit that we wouldn't better know how to run the Treasury, and that Mr. Geithner "may" be doing the best that he can with the very best of intentions, but is he in over his head ... or worse? Check it out for yourself.
http://www.huffingtonpost.com/henry-blodget/tim-geithner-must-go_b_416203.html
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