General Discussion

From Greg Palast:

What would Goldman think?

As noted, Goldman and clients pocketed billions as a result of Obama’s abandonment of 3.9 million families whose homes were repossessed during his first term. While American homeowners were drowning, Tsar Summers torpedoed their lifeboat: a plan to prevent foreclosures by forcing banks to write-off the overcharges in predatory sub-prime mortgages. Notably, Summers’ action (and Obama’s inaction) saved Citibank billions.

Source: https://www.gregpalast.com/larry-summers-goldman-sacked/

''Geithner foamed the runway for the banks.''

Sat Feb 21, 2015

Neil Barofsky, the former special inspector general for the Troubled Asset Relief Program, has published a new book, “Bailout: An Inside Account of How Washington Abandoned Main Street While Rescuing Wall Street.” It presents a damning indictment of the Obama administration’s execution of the TARP program generally, and of HAMP in particular.
…
By delaying millions of foreclosures, HAMP gave bailed-out banks more time to absorb housing-related losses while other parts of Obama’s bailout plan repaired holes in the banks’ balance sheets. According to Barofsky, Treasury Secretary Tim Geithner even had a term for it. HAMP borrowers would “foam the runway” for the distressed banks looking for a safe landing. It is nice to know what Geithner really thinks of those Americans who were busy losing their homes in hard times.

CONTINUED w VIDEO and links and more letters...

Original article: http://washingtonexaminer.com/video-geithner-sacrificed-homeowners-to-foam-the-runway-for-the-banks/article/2502982

Original via Internet Archive: https://web.archive.org/web/20130222224715/http://washingtonexaminer.com/video-geithner-sacrificed-homeowners-to-foam-the-runway-for-the-banks/article/2502982

Similar from Wash. Examiner, behind paywall: https://www.washingtonexaminer.com/opinion/beltway-confidential/1978158/video-geithner-sacrificed-homeowners-to-foam-the-runway-for-the-banks/