In Financial Crisis, No Prosecutions of Top Figures
It is a question asked repeatedly across America: why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?
Answering such a question — the equivalent of determining why a dog did not bark — is anything but simple. But a private meeting in mid-October 2008 between Timothy F. Geithner, then-president of the Federal Reserve Bank of New York, and Andrew M. Cuomo, New York’s attorney general at the time, illustrates the complexities of pursuing legal cases in a time of panic.
At the Fed, which oversees the nation’s largest banks, Mr. Geithner worked with the Treasury Department on a large bailout fund for the banks and led efforts to shore up the American International Group, the giant insurer. His focus: stabilizing world financial markets.
Mr. Cuomo, as a Wall Street enforcer, had been questioning banks and rating agencies aggressively for more than a year about their roles in the growing debacle, and also looking into bonuses at A.I.G.
Friendly since their days in the Clinton administration, the two met in Mr. Cuomo’s office in Lower Manhattan, steps from Wall Street and the New York Fed. According to three people briefed at the time about the meeting, Mr. Geithner expressed concern about the fragility of the financial system.
His worry, according to these people, sprang from a desire to calm markets, a goal that could be complicated by a hard-charging attorney general.
Asked whether the unusual meeting had altered his approach, a spokesman for Mr. Cuomo, now New York’s governor, said Wednesday evening that “Mr. Geithner never suggested that there be any lack of diligence or any slowdown.” Mr. Geithner, now the Treasury secretary, said through a spokesman that he had been focused on A.I.G. “to protect taxpayers.”
Check out the rest here…
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There needs to be continuing coverage of the billions that have been stolen right out from under the average taxpayers noses. Just like the lawyers and judges that “don’t get it” so are the dumbos out there in netherland never reading or learning anything and brainwashed to believe that the government is there to help and protect. Yea…protect the theives. The media must have the guts to take them on and force them into a corner with the real hard questions….not the sugar coated kind, where they smile and give their rehersed speech to the general population.
Thank you I Vent for always keeping everyone focused with your shouting, although it is not easy to read and maybe no one is reading it, because it is so hard to read, so please make your point in small case like this and perhaps many more will thank you for all your comments – I think you are great!
Were you indicating a URL with the underscores between words above and if so do I just go to 60minutes.com or what to perhaps see that video archive?
Also am wondering about “upwards of 60 Trillion” as even one trillion is an astronomical amount of improbable profit let alone tens of trillions, so I would like to see what 60 minutes said to substantiate that this is true and if true then these BANKSTERS could never ever be broke or insolvent in the system of FRAUD that they fool everyone into believing that there is something tangible about digital dollars that are not worth the electrons it take to emit them by keystroke into the data bases of the computer bank (pun intended) as though the printing presses were even involved in printing what some consider cash in a cashless society that does not want to even be inconvenienced with paper let alone the weight of coin that also has no intrinsic value in the absence of specie.
Keep on venting and I will pay attention!
Michael-Lynn @ The “MIXED WAR” Room and The Trials of Life
Geithner wants to protect taxpayers. I AM a taxpayer!
CONSTANT VIGILANCE IS WHAT YOU NEED RIGHT NOW!!!!BE CAREFUL!
They have made their bed and they have no choice but to deny, deny, deny, as long as the system allows it. But we know better and if we continue to ask the right questions once it reaches a high enough level they may not answer the questions but themselves ask… What do you want to stop asking? Victory is assured if you keep asking the right questions at every level until they give us what we want… Individual Justice one American home at a time! http://diligencegroupllc.net/ -AH
They stole Billions? CNBC reported a couple of months ago that these sheisters on WALL STREET, in the year 1999 alone these _fuggers_ made upwards of _ 60 TRILLION DOLLARS_IN _MORGAGE DERIVATIVES_ ALONE. WTF!! After a HEIST LIKE THAT, ALL I CAN SAY IS, RESCIND OUR FAKE MORTGAGES AND GIVE THE STOLEN MONEY AND GOODS BACK TO THE PEOPLE!
” Mr. Geithner never suggested that there be any lack of diligence or any slowdown.” Mr. Geithner, now the Treasury secretary, said through a spokesman that he had been focused on A.I.G. “to protect taxpayers.”
Ha Ha Ha Ha Ha Ha…. Nice one Timmeh…