General Discussion
In reply to the discussion: Had enough yet? [View all]hifiguy
(33,688 posts)need to read Prins' "It Takes A Pillage" and "All The Presidents' Bankers."
She knows this history and material from the inside out, forwards, backwards and upside down, and cites her sources.
Geithner was the one of the central people who facilitated opening the taps so that the banksters could soak up $13 trillion from TARP, the Treasury and the Fed.
Every single bum home loan could have been paid off for $1.3 trillion in 2008-09. The bankers needed those trillions to cover losses on the worthless shit they were selling, and actively betting against in the so-called market, and which they were telling their wealthiest customers to avoid.
That meltdown was caused by Wall Street and nobody but Wall Street. It was a fancy modern day Ponzi scheme dreamed up and implemented by the too-big-to-fail banks. Predatory lending, worthless securities, bribed ratings agencies, and that is just the start of the crookedness of the big banks.
Summers belongs in jail, Rubin as well.
hifiguy out.