Thursday, January 28, 2010

Geithner Conspires to Dupe Investors

Taylor Connat emails:
Geithner just told Cummings that the reason they don't want to disclose who the counter-parties in the AIG fiasco were is because it would threaten their ability to recoup taxpayer money spent on these bailouts. Essentially, if the market had this info, it would value related securities more realistically and the Treasury/Fed would lose out on their operation, costing the taxpayers money.

So, Geithner just admitted that they are trying to pull one over on investors and deny them material information in order to trick them into paying more for various assets than they're worth, in order to be able to pay back the taxpayer.

Isn't this called fraud?

No comments:

Post a Comment