Geithner Aides Paid Millions By Banks, Hedge Funds: Bloomberg

Oct. 14 (Bloomberg) -- Some of Treasury Secretary Timothy Geithner's closest aides, none of whom faced Senate confirmation, earned millions of dollars a year working for Goldman Sachs Group Inc., Citigroup Inc. and other Wall Street firms, according to financial disclosure forms.

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Comments

[Alan Wendt]

To: [e-mail]

I wish to report an insider trade on the part of Stephen Friedman, who in December of 2008,
according to reports, bought 50,000 shares of Goldman Sachs stock while (a) holding confidential
information about the company regarding its viability and continued existence, and (b) occupied
a position of public trust.

Sincerely,

Alan Wendt

[senorlou]

These are some of the most expensive welfare queens who ever existed, and they're in charge. Great.

[lightningbolt]

THIS IS INSANE!!! WHAT IS WRONG WITH OBAMA? WHY DOES HE ALLOW THIS?

[dadw5boys]

What you mean they were not homeless or new college grads with no experience >?

People with experience working for the Government ?

Whats next the SEC with Legal Experts that know how to spot Ponzi Schemes and enforce SEC Laws and regulations ??

What after the RICO Act Law enforcement ???? SubPrime Loans frauds reported from 2002 by the FBI ???

[TeeLolly]

Geithner & Co. have to go ...

[KIVPossum]

Geithner's doing exactly what Obama wants him to do.

That's what's scary.

[petridish]

All your bases are belong to us...... muhahahaha­hahahahaha­hahaha

[dac253]

But we needed them because they "knew where the bodies were buried."

Now excuse me, I have to call Roman Polanski - he's babysitting my daughter Friday night.

[sueinmn]

Today we mourn the passing of a beloved old friend, Common Sense, who has been with us for many years. No one knows for sure how old he was, since his birth records were long ago lost in bureaucratic red tape. He will be remembered as having cultivated such valuable lessons as: Knowing when to come in out of the rain; Why the early bird gets the worm; Life isn't always fair; and Maybe it was my fault. Common Sense lived by simple, sound financial policies (don't spend more than you can earn) and reliable strategies (adults, not children, are in charge). His health began to deteriorate rapidly when well-intentioned but overbearing regulations were set in place: Reports of a 6-year-old boy charged with sexual harassment for kissing a classmate; Teens suspended from school for using mouthwash after lunch; A teacher fired for reprimanding an unruly student, only worsened his condition. Common Sense lost ground when parents attacked teachers for doing the job that they themselves had failed to do in disciplining their unruly children. Common Sense lost the will to live as the churches became businesses; and criminals received better treatment than their victims.

[sueinmn]

Does anyone wonder why so many hate the government? As a strong Lib, everyday for months, this gets worse and worse. It is frustrating when the crooks themselves write the laws and no one -NO ONE is stopping them. We lose our jobs, investments, futures, refuse UI entensions and here we are. Everyday it just gets worse!!!!!!

Ignorance can be blissful as this is causing just too much stress to handle.

[OB-GYN]

I'm with you on this. Seems to me that a seismic shift is and will occur on American work ethic. That has always been the backbone to our success, as well as education.

When people are thrown under the bus, their attitude changes. I predict a drop in our national birthrate due to this woeful climate to afford kids and raise them, which will further aggravate our governments' tax collections.

[loki]

no surprise here. On NPR today they were talking about an investigation into Geithner , and his phone logs show little hints of who he is really loyal to. For instance. He told the president of the United States he would call him back, so he could take a call from one of the big bank presidents. He also would call the biggest banks presidents directly before and after every meeting he had with the President of the United States.
Geee, no wonder they are getting billions in tax payer money, and we are getting the boot.

[DiogenesOfAlaska]

They were paid millions in their jobs BEFORE they started working for the treasury. Now they make roughly $150.000 the article says.

Try hiring an Ivy league economics professor for a temporary job at that salary.

So the problem isn't how much they're making now. It's only whether they have silent agreements with potential future employers. Who's to tell?

Looks like the best thing to do is to make sure the laws they are writing make sense, doesn't it? Rather than raise suspicions blindly.

[Crass Innuendo]

Who's to tell?

Someone who's noticed all that tax money being funneled back to the aides' former employers, for one...

[DiogenesOfAlaska]

I may be terribly naive, but how do you profit from profits that your FORMER employer makes?

It would have to be the new employer as well. It would be different if they still owned stock in those firms. If 'not being confirmed' also means they don't need to rid themselves of conflicts of interest - as Paulson did by selling his GS shares - then yes, of course that's fishy.

I don't know - and I am fortunate enough that it's not my job to know.

[DiogenesOfAlaska]

btw with 'who's to tell?' I meant that since it's basically only wishful thinking that such silent agreements about the future could be ruled out, the only way to make sure they are immaterial is to exert some pressure that the contents of the laws make sense - and not care where the authors of the laws go on to work afterwards.

[Stock market]

The wealth gap will widen to levels never before imagined while the middle class ceases. Our politicians need to do more to ensure equality.

good articles; http://bit.ly/1NkbAn

that means no bank bailouts. no tax cuts except for those in the middle and lower income brackerts more heath reform. affordable tuition.

[falco]

The wealthy getting wealthier as the middle class disappears! Our wealthy politicians need to do something about this! My goodness, the price of gas is going up, food cost is going up, boy oh boy, I sure do hope those wealthy politicians, bankers, and corporation owners hurry up and come to our rescue! The money they are making off our backs must stop! Surely they will do something to help us!

[sposton]

Poor fellers, they've got to survive somehow. ;-)

[swanie]

The classical foxes protecting the hen house ! ! !

EVERY ONE OF THEM SHOULD BE FIRED -

INCLUDING THE TREASURY SECRETARY ! !
.

[sposton]

The fish stinks from its head.

[jennylynn]

Transparency? Hope and Change?

[Kassandra]

Now who didn't see this one coming?????