20090320

Geithner Takes Bullet, Bullet Spares Buck Obama

CNN's Ali Velshi cornered Geithner on the AIG bonus scandal : the Treasury not only knew about risks of bonuses to be awarded but prevented Sen. Chris Dodd from adding a clause to minimize them*.

Tim takes the blame raher unconvincingly : he uses the first person for the legally binding part of his job ("It's my responsibility, I was in a position where I didn't knowabout those sooner, I take full responsibility for that"), swiches to the second person for the future "now let's fix it" section ("In any case, we're going to go back and try to recoup the payments that were already made we had no legal ability to block at that time"), but keeps his distances with the third parties who actually dunnit : "The people doing this, the Fed and the Treasury people, are workingvery closely together".

"They, the People" of the Treasury, won't like this, Tim.

You just caught a bullet for your boss.

The previous day, Barack Obama changed his tune regarding the AIG mess : OK I'm angry but look, the buck stops here, I'm responsible.

The bullet stopped before reaching the buck, and I'm glad Geithner took it. From the beginning, this man was Obama's poorest pick.



* "
Geithner: Treasury Pushed For Bonus Loophole (VIDEO)" (HuffPost - 20090319)

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