Tag Archives: Bankers

Treasury Secretary Geithner: Puppet of Finance Capital

Tim Geithner and his Capitalist Cronies

Tim Geithner and his Capitalist Cronies

For all the progressives that drank Obama’s Kool-Aid: Who’s Obama’s real constituents?

The New York Times published a lengthy article recently with the following revelations about Obama’s Treasury Sectretary Timothy Geithner:

1. A year before he was elected Geithner shocked then-Treasury Sectretary Henry Paulson with a proposal “to give the president broad power to guarantee all the debt in the banking system”. Paulson was shocked by the proposal, seen as audacious and “politically untenable” because it would “put taxpayers on the hook for trillions of dollars”.

A year later, Geithner’s proposal has been implemented almost entirely.

2. As President of the New York Federal Reserve, The NYT reports, Geithner maintained “unusually close relationships with executives of Wall Street’s giant financial institutions.”

A look at the New York Federal Reserve’s former and present Board of Directors shows it staffed by CEO’s of such big capitalist firms as: General Electric, Citigroup, Goldman Sachs, JPMorgan Chase, Quandrangle Group (Investment Firm), etc. etc.

For those who thought Obama was going to usher in all this radical progressive change, one can only ask… What were you thinking?

Obama is not the “elected representative” of the people, he is the elected representative of Capital. After trillions in bailout money, its safe to say he’s served them well.

The only thing that can defeat the bankers is class struggle. The working class vs. Geithner, Obama and the rest of the Capitalist ruling class.