Wednesday, April 28, 2010

Are Criminal Charges Ahead for Treasury Secretary Geithner?

It's a long shot. I continue to believe that Geithner has powerful sponsors and that his farther is/was likely a high ranking CIA operative when he was in charge of micro-loans in Asia for the Ford Foundation (At the same time that President Obama's mother started a micro-loan organization in Indonesia)

But, Neil Barofsky, head of the Office of the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), is hinting their may be a case.

Barofsky says the question of whether the New York Fed engaged in coverup will result in some sort of action.

“We’re either going to have criminal or civil charges against individuals or we’re going to have a report,” Barofsky told Bloomberg. “This is too important for us not to share our findings.”

A Bloomberg profile makes Barofsky out to be a tough S.O. B. But if Geithner has the kind of protection I suspect, it will be tough for Barofsky to bring anything but a slap on the wrist.

Still it is interesting that Barofsky may be a Tea Party sympathizer. He told Bloomberg:
There’s a reason there are Tea Partiers out there, and when you look at it, anger at the bailout is one of the first things they talk about. This Treasury Department and the previous Treasury Department bear some of the responsibility for not being straightforward with the American people.

It's worth keeping an eye on Barofsky's activities.

1 comment:

  1. Interesting that The Hartford is mentioned in the Bloomberg piece. That's Neal Wolin's former employer.

    Also, Janet Tavakoli got a mention for saying Barofsky hasn't been aggressive enough on Wall Street firms for CDO fraud.