Former US Treasury Secretary Timothy Geithner to join private equity firm Warburg Pincus

  • Article by: DAVID KOENIG , Associated Press
  • Updated: November 16, 2013 - 1:55 PM

Former U.S. Treasury Secretary Timothy Geithner, who played a central role in the government's response to the financial crisis of 2008-2009, is joining private equity firm Warburg Pincus LLC.

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buckyharleyNov. 16, 13 9:56 AM

Another big payday for a government official who moved to a position of power in an industry he formerly regulated . . . when do we begin to question whether these people really operated in the public interest when they were in Washington?

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vlombardyNov. 16, 1310:05 AM

Crony capitalism marches on.

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herby2013Nov. 16, 13 3:11 PM

Another big payday for a Democrat politician. Both Bill Clinton and Al Gore took jobs with hedge funds after leaving office. Bill Clinton's daughter, Chelsea, worked (maybe still does) at a hedge fund. Rahm Emanuel, Obama's former Chief of Staff and current Chicago mayor made $16 million in 2.5 years working for an investment bank after leaving the Clinton administration. Hillary Clinton is currently on the paid speaking circuit for $200,000 per speech. Former Rep. Barney Frank is also on the paid speaking circuit. Former Clinton White House Budget Director Franklin Raines made $90 million in salary and bonuses in 5 years as CEO of government-sponsored Fannie Mae, bonuses that were based on inflated earnings as part of an ACCOUNTING FRAUD. Fannie Mae went bankrupt because of Raines, costing the taxpayers over $100 BILLION. Former Clinton Deputy Attorney General Jaime Gorelick was APPOINTED Vice Chairman of Fannie Mae in 1997 despite having no education or work experience in Finance. She earned $26.5 million from 1997 until she left in 2003. Yes, Democrat politicians find funny ways of making HUGE INCOMES after leaving office--and they try to deny us the ability to make money with their never-ending demands for tax increases which they use to buy votes from welfare recipients!

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dtkingNov. 16, 13 3:50 PM

Kinda makes you wonder, doesn't it?

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supervon2Nov. 16, 13 5:33 PM

I thought they all became irrelevant like Jimmy Carter and built Habitat Homes.

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Seawaves AheadNov. 16, 13 6:20 PM

Payback time! Geithner orchestrated the Wall Street bailout, at tax payer expense of course, now they are giving him what's owed. America is a great country; funnel billions to your friends and get rewarded in the end.

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