Tim Geithner (Secretary of the Treasury) - Wants to re-start “securitization,” the one practice that got us into this financial mess. Securitization has no accountability, no responsibility, and was the recipe for disaster. Clueless.
Ben Bernanke (Chairman of the Federal Reserve) - Endorses “super-regulator” as a top priority. Excuse me, sir, but aren't you and Geithner the super-regulators? Clueless.
President Barack Obama - When asked if encouraging consumers to spend and go further into debt is not just resurrecting old habits, which created the consumers demise, said to the reporter: “You just don’t understand. It’s just the banks that created the problem.” Clueless.
Barney Frank (Chairman of the Financial Services Committee) - No comment.
God help us.
Till next time,
Bill
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