Posts Tagged Timothy Geithner
While most folks cannot wait to retire from the mostly wretched, soul quashing, often underpaid and stressful positions they have been trapped in for the past several decades, officials in the executive branch, Congress and senior congressional staff members seem to be getting their second wind once their jobs in the public sector end.
Apparently you can never be too old to retire from exploiting America and our corrupt politicians certainly have never met a constituent they were not willing to sell out to corporations and big business vultures for good money.
Former U.S. Treasury Secretary Timothy Geithner, for example, who oversaw the Obama administration’s response to the 2008 financial crisis (thanks Obama for yet another completely competent decision) will take his spin through the revolving door this year by joining private equity firm Warburg Pincus. Geithner followed the lead of former Treasury heads Robert Rubin and John Snow in making the move from Pennsylvania Ave. to Wall Street, where financial firms pay top dollar for former top government officials’ experience and connections.
Interesting to note is that Geithner managed the government bailouts of Citigroup, Bank of America and General Motors Corp., among others. While he was also in charge of lobbying Congress to pass the Dodd-Frank Wall Street Reform and Consumer Protection Act, which brought tighter regulation of financial institutions with the aim of preventing another crisis (not really), I think it is pretty safe to assume that he made sure to sweeten the deal for Wall Street as much as possible resulting in a watered-down policy aimed more at keeping critics quiet while giving them a sense that something was done rather than actually changing the way Wall Street does things. I mean have you heard of anyone in Wall Street getting in serious trouble or even face criminal charges since the 2008 crash? Yeah I didn’t think so.
The graph below shows Geithner’s employment timeline and the extent to which he has been going back and forth between private sector and public sector positions – ethical concerns that one may influence the other or pose a conflict of interest be damned.
The website http://www.opensecrets.org has compiled an entire list of politicians who have been profiting heavily from this revolving door by selling out hard working Americans and the poor, elderly and disabled of this country whose votes they secured to the vultures of the financial, defense, energy and pharmaceutical industries without compunction.
The graph illustrating Geithner’s employment timeline is pretty much the same for most politicians.
Well, it’s good to know that India is such a corrupt country and we here in the US aren’t.
Another bunion on the face of not only humanity but especially this country, Joe Lieberman, has announced today that he has joined the private equity firm Victory Park Capital, where he will serve as chairman of the firm’s Executive Board. Of course he will.
“While in the U.S. Senate, I fought for policies that would allow small businesses to thrive,” Lieberman said in a statement. “I look forward to a long-term partnership with Victory Park Capital that will position the firm for continued growth.”
Note that Lieberman is almost 72 years old, but apparently greed knows no age limit and this sorry excuse for a human being just cannot help spending his last few years on this earth to fuck everything up for generations to come.
Also note that private equity firms are not “small businesses” nor do they work for the interests of small businesses. They are vultures and run the type of schemes that got this country into the fiscal mess it is in today. Not that the crisis hurt them, of course, because us 35%-tax-rate-paying peons ended up bailing out their 0%-tax-rate asses.
Also interesting to note that almost all of these people call themselves pious, god fearing Christians out there to do god’s work blah blah wet fart.
Well at least our policy-makers are being consistent; obvious and greedy yes, but consistent.
I must say, however, that given that many, if not all, of our lawmakers seem to have been taking public sector jobs not to serve their communities or this country but to manipulate and mold the government to serve the narrow interests of corporations and the wealthy – with the added bonus of securing themselves lucrative positions guaranteed to influence government and corporate policies – it’s truly a wonder that anything gets passed that doesn’t exclusively benefit the wealthy and powerful.
While Edward Snowden has to rot away his life in exile for having exposed government crimes, these treasonous assholes get to sit nice and pretty on cushy salaries and health care that the tax dollars of the 99% pay for while they are working to make things happen for the 1% who don’t pay a dime in taxes. That these opportunistic parasites get to continue making the law of the land and called patriots is nauseating.
Woody Allen once remarked that politicians have the ethics of a child molester – or actually a notch underneath that of a child molester. Given the above and the general state of this country for the past twenty to thirty years, coupled with the completely ineffective, almost parasitic Congress of last year and the general state of affairs, I am coming to realize just how true those words are.
1%, 99%, congress, corrupt congress, corrupt politicians, Dodd-Frank Wall Street Reform and Consumer Protection Act, Hollywood, joe liberman, leonardo di caprio, lobbying, Movies, parasites, Poverty, private equity, social safety net, tarp, Timothy Geithner, Victory Park Capital, vultures, wall street, warburg pincus
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