Nov
25
“Geithner and the Fed were supposed to be acting on behalf of taxpayers and citizens, not AIG. Their effort was supposed to get the best result for taxpayers: preserving the structure of the economy and stopping a free fall. That—not preserving AIG’s market value—was the rationale for intervention. Once tax dollars were at stake, Geithner should have been asking how to achieve the best economic result while minimizing taxpayers’ exposure.”
The new AIG report reveals how Geithner—and U.S. taxpayers—were fleeced by Wall Street banks. - By Eliot Spitzer - Slate Magazine
