Wednesday, January 21, 2009

Foxes, henhouses...

...and point/counterpoint.

"Although the tax disclosures provided a bump in Geithner's confirmation process, he appeared to have wide support from both parties.

Grassley said he recognizes that many in Congress view Geithner, who worked closely with the outgoing administration on financial bailouts as head of the New York Federal Reserve Bank, is "possibly the only man for the job of healing the recession before us and a very fractured economy."

"To some, he is not only the best choice, he is the only choice," said Grassley."

...and the rejoinder:

By embracing Geithner, President-elect Barack Obama is endorsing the ill-advised scheme to support AIG directed by Hank Paulson et al at Goldman Sachs and executed by Tim Geithner and Ben Bernanke. News reports have already documented the ties between GS and AIG, and the backroom machinations by Paulson to get the deal done. This scheme to stay AIG’s resolution cannot possibly work and when it does collapse, Barak Obama and his administration will wear the blame due through their endorsement of Tim Geithner.


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