Brian4Liberty
11-18-2013, 01:03 PM
The conflict of interest continues. Will Janet Yellin sign a contract that forbids her from ever working for Wall St in the future?
Tim Geithner is cashing in
Geithner will be president of Warburg Pincus. Is there anything wrong with that? It depends! (Chip Somodevilla/Bloomberg News)
Tim Geithner, apparently now tanned and rested after a long six years of financial crisis, is going back to work. The former Treasury secretary and New York Fed chief will be president and managing director of Warburg Pincus, the private equity firm.
The brickbats are flying fast. Here are examples from Ryan Grim and Noam Scheiber that go beyond the standard-issue Twitter snark. The critique boils down to: Of course Tim Geithner is going to make millions in the private equity business. He has always been a creature of the financial industry, carrying its water in government. And now the financial industry is, in effect, repaying him. Future treasury secretaries will know the lucrative fate the awaits them if they are similarly cooperative with Wall Street mandarins. And the circle of life continues.
...
More:
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/11/18/tim-geithner-is-cashing-in/
Tim Geithner is cashing in
Geithner will be president of Warburg Pincus. Is there anything wrong with that? It depends! (Chip Somodevilla/Bloomberg News)
Tim Geithner, apparently now tanned and rested after a long six years of financial crisis, is going back to work. The former Treasury secretary and New York Fed chief will be president and managing director of Warburg Pincus, the private equity firm.
The brickbats are flying fast. Here are examples from Ryan Grim and Noam Scheiber that go beyond the standard-issue Twitter snark. The critique boils down to: Of course Tim Geithner is going to make millions in the private equity business. He has always been a creature of the financial industry, carrying its water in government. And now the financial industry is, in effect, repaying him. Future treasury secretaries will know the lucrative fate the awaits them if they are similarly cooperative with Wall Street mandarins. And the circle of life continues.
...
More:
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/11/18/tim-geithner-is-cashing-in/