Friday, January 16, 2009

Big Money Behind Geithner

Writing in Accuracy in Media, a news watchdog site, Cliff Kincaid asks "A guy who can’t figure out his own taxes is supposed to fix the economy?
This is the absurd rationale being offered by media figures such as Andrea Mitchell of NBC News for confirming Timothy Geithner as Obama’s Treasury Secretary after it was disclosed that he was a serial tax evader. He did his own taxes for a couple years and got into trouble, Mitchell chuckled. And everybody can relate to that, right? Mitchell is the one who deserves to be laughed at. This guy is supposed to be so smart we can entrust him with managing the entire U.S. economy? She must be kidding. Does she seriously expect us to believe that?
Kincaid notes that anybody watching this bizarre spectacle unfold has to suspect there is something more to the story. Who is behind Geithner and why does Obama want him? This is where the media fear to tread. Major media companies such as GE (parent of NBC News) and the Washington Post Company have their own connections to Geithner through their own officials and board members. They have a conflict of interest that will never be reported by the news organizations themselves.
Based on what Obama has said about Geithner, and what the media have repeated ad nauseam, we are supposed to believe that he made some mistakes that were typical of an employee who had worked for an international organization, the International Monetary Fund. But this doesn’t hold up because he admits he was told by the IMF about the procedures and necessity of paying those taxes. So the failure to pay these taxes looks like a case of tax cheating. If it wasn’t cheating, then he didn’t understand the tax code or didn’t pay enough attention to get it done right. This doesn’t seem like a proper credential for the post of Treasury Secretary, with jurisdiction over the IRS.

There has to be something more to the rationale for confirming somebody who is this much of a conniver or this dumb to the post. What is it?

It doesn’t take much digging. For anybody in the dark about this, please consult and closely study his bio. Geithner is a wheeler-dealer for powerful special interests.

If you examine the nature of the “Group of Thirty,” an affiliation which appears at the bottom of his biography, right after his Council on Foreign Relations membership, you will quickly learn that the President of the New York Federal Reserve Bank is an associate of the governor of the Chinese central bank through this mysterious organization of bankers and other top current and former officials from various countries. You will notice that other Obama nominees and associates are members, including Paul Volcker and Lawrence Summers.

You will also learn that this organization has been funded by―surprise―some of the same financial institutions getting federal bailout money. These include American International Group, Goldman Sachs and Citi, among others. Because it has a website and publishes an annual report, all of this seems open and above board. But the fine print reveals that some of the meetings are by “invitation only.”
Read it.

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