Legal Commentary

Geithner As Santa Claus: It's Always Christmas For The Banks

By Big Tent Democrat

Via dkos diarist bobswern, the banks' personal Santa Claus Tim Geithner is giving out more gifts:

Financial stocks just caught fire. Someone must be getting bailed out, right? Why yes, say critics of the giant banks. They charge that Monday's rally-stoking mortgage-putback deal between Bank of America (BAC) and Fannie Mae and Freddie Mac is nothing more than a backdoor bailout of the nation's largest lender. It comes courtesy, they say, of an administration struggling to find a fix for the housing market while quaking at the prospect of another housing-fueled banking meltdown.

"This looks to me like a gift from Tim Geithner," said Chris Whalen of Institutional Risk Analytics. "There's politics all over this."

From the corrupt incompetent Tim Geithner? Say it ain't so. God bless all the banks! What a disgrace.

Speaking for me only

Full post as published by TalkLeft on January 05, 2011 (boomark / email).