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A Brutal Morning for Geithner
This is not the headline Treasury Secretary Tim Geithner (or, frankly his boss, President Obama) wanted to read:
HOW CAN GEITHNER SURVIVE THIS? Scathing Report Singles Out Treasury Chief For Bungled AIG Bailout
That banner hed is stripped across the top of the HuffingtonPost, over a three-column photo of Geithner with a highball glass to his lips. Here’s hoping there’s something strong in that glass.
A brutal report issued Monday by a government watchdog holds Timothy Geithner -- then the head of the Federal Reserve Bank of New York and now the nation's Treasury Secretary -- responsible for overpayments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs.
The authoritative new narrative describes how, while bailing out insurance giant AIG last fall, a team led by Geithner failed nearly every step of the way.
Read the full report by clicking here.
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