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February 10, 2009

QOTD on Geithner "Prevailing"

This one will have to be anonymous, but it's from one of my favorite readers, a hedge fund manager who is thoroughly pissed at Tim Geithner for having "prevailed" on his bailout plan:

Geithner, just three weeks into the most critical job in the entire Obama administration, has already forgotten who he works for and taken the wrong lesson from Sweden.  Instead of briefly nationalizing the banks as Sweden did--at a modest profit to taxpayers--he has fallen prey to Stockholm syndrome and sees the world from the point of view of the New York banks he used to answer to.  The less charitable explanation is he's toadying up to his future Wall Street employers for a Rubinesque salary once this public service stint is over.

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