The damage control team is not liking what they are seeing from this morning's Bloomberg article. The message being sent out is once Geithner was nominated for Secretary of the Treasury he was recused from all decisions. While the original emails appeared to have started right before Geithner's nomination in late 2008, the following 4 months of decisions came after he had been nominated - hence he had no impact on the decisions. (cough). Of course Geithner did not take office until January 2009 so if we are to believe the Wizard of Oz, Tim was the 3rd most important man on Earth in the financial crisis (after Bernanke and Hank Paulson) and the only person on Earth capable of filling Hank Paulson's shoes when the new Administration came to power - yet he was not at all involved in this decision making, and apparently for a period of 2 months (Nov/Dec 2008) he was doing nothing and responsible for nothing. In the heart of the worst financial crisis in our history.
So despite his branch of the Federal Reserve starting these directives just before he was nominated he was not at all involved in any decision (cough). Although he was the only man on Earth not named Hank Paulson who was involved enough, and knowledgeable enough with all the levers being pulled to take over as Secretary Treasury. These are the political talking points you are to know, as you fall asleep tonight knowing the government is working hard for you...
This also leads to the question of WHO(m)? was behind these decisions and 5 months of emails trying to stall, if Tim was busy spending 2 months between nomination and start of his work knowing nothing and doing nothing? Someone apparently with no name but powerful enough to spend the US taxpayers money like a drunken sailor and more than happy to try to keep it under wraps for as long as possible.
The spin continues....
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