The Question of Authority, It Won’t Go Away

Former Obama Treasury Secretary Timothy Geithner recently told host John Stewart on “The Daily Show” (on the Comedy Channel) that the big banks had to be bailed out because, in his words, it was “the only option, the only responsible, just, moral thing to do.” His reasoning went like this: Obama, Geithner and Company had to protect people from mass unemployment which, he said, is what happens in a financial panic “unless the government steps in and makes sure they try to keep Read more […]

Washington Times On Barack Obama, The Wall Street President

The story starts off giving far too much credit to the President: Despite his best efforts, the president who vowed to conquer Wall Street and revive opportunity for everyday Americans on Main Street has this to show for his first five years in office: U.S. stock markets are in record territory, posting 30 percent gains just last year, and Wall Street is home once again to the biggest concentration of billionaires on earth, while wages for the middle class have barely kept up with inflation. No Read more […]

Treasury Secretary Geithner Spent Record $13 Trillion Over His Tenure

As the U.S. Treasury Secretary, Tim Geithner wields a considerable amount of influence over government financial matters. He’s the equivalent to the Minister of Finance in other countries. On the Treasury’s website, it outlines some of the Secretary’s key roles in government:  “The Secretary of the Treasury is the principal economic advisor to the President and plays a critical role in policy-making by bringing an economic and government financial policy perspective to issues facing the Read more […]

Does Iran Have Higher Ethical Standards than Washington?

Iranians, hit by sanctions and soaring prices, were shocked by the scale of a $2.6 billion bank loan embezzlement scheme that was exposed last year, and by allegations it was carried out by people close to the political elite or with their assent. Days ago, an Iranian court handed down sentences. Of 39 defendants whose charges were heard, the court’s judge has sentenced four to death and two others to life imprisonment. The remaining defendants received prison terms of 25 years, 20 years, 10 Read more […]