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A few things we misunderstood about him.
From the article: "If there was a problem with Geithner's relationship to the financial sector, it wasn't corruption but intellectual capture. Geithner spent his two decades as a bureaucrat adopting many of the views of the financial-sector elite." If there was a problem with Geithner's relationship to the financial sector? IF???
From the article: "We now have a financial system dominated by even bigger institutions, and the burden of policing them has fallen even more heavily on overmatched regulators." More evidence that Geithner-as-creature-of-Wall-Street" is not a myth. What difference is there between Geithner/Summers and Paulson/Mankiw, Lazear?
From the article: "Geithner also had little choice but to accept tougher regulations than he intended for derivatives, the financial instrument that toppled AIG." Myth 1 in Noam Scheiber's article suggests that Geithner is inaccurately perceived to be a creature of Wall Street. Yet, in the aftermath of the mortgage/credit collapse, he had to be persuaded that tougher regulations for derivatives is a good idea???
Point (5) should have been point (1). It's the only one that counts.
Ok, lets get real. Most of the guys in power are allowing more and more of the Monopoly money moving from the middle class to the wealthier classes and allowing Big Business to put Small Business and its need for more employees out of business and outsourcing outside of the U.S. and bringing alien workers into the U.S. all to replace higher paid U.S. citizens and lower wages. The article needs to include this info if the writer expects to be taken seriously.
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