Replies

Geithner is an Ivy Leaguer (Dartmouth) -- as so many of this administration are.

I'm becoming convinced that the Ivy League specializes in moron training. And that an Ivy League phD equals idiocy.

The PBS program, Frontline, reviewed the efforts made by Brooksley Born, when she was with the Commodities Futures Trading Commission [CFTC], to regulate derivatives. Levitt, Greenspan, Rubin and Summers, etc. threw her under the bus.

They ALL agreed against her - saying that the markets could regulate themselves and REFUSED to believe her evidence that the unregulated derivatives market was a house of cards.

In EARLY 1993-1994, a HUGE bank ALMOST went belly-up [due to derivatives], and ONLY survived with a cash infusion of like $50 Billion. Even AFTER that, these MORONS refused to believe her - stating that it was an anamoly. They then let the derivatives market go merrily on its way as before ...

Then, 14 years later, the derivatives market imploded and took the economy down with it ...