op-ed by Run
“The Messenger Again Wears A Skirt (Mama Tucker on Brooksley Born)”
Taking a page from his former boss and mentor Larry Summers, Geithner behind closed doors has expressed opposition to Dr. Elizabeth Warren heading up the Consumer Financial Protection Bureau as reported by The Huffington Post.
For those of you who may not recall, Larry Summers testified in front of Congress about Brooksley Borns efforts to regulate CDS as:
“casting a shadow of regulatory uncertainty over an otherwise thriving market.”
While one could not predict what Brooksley may have been able to accomplish if given the go-ahead, it is pretty certain the market place as Greenspan describing it as “self-regulating” did little to regulate itself. At least, Larry had more balls than Timothy and Brooksley would have been more proactive than either Larry or Timmy.
Make no mistake, Dr. Elizabeth Warren has asked the pointed questions needing to be asked of Timothy Geithner “Show Me The Money” on You Tube. Joining Timothy Geithner is Senator Dodd, the same as Greenspan, Levitt, and Rubin joined Larry Summers in opposing Brookley Born.
“Well, you probably will always believe there should be laws against fraud, and I don’t think there is any need for a law against fraud,” Alan Greenspan
“I thought it was counterproductive. If you want to move forward . . . you engage with parties in a constructive way,” Rubin told the Washington Post. “My recollection was . . . this was done in a more strident way.”
“characterized as being abrasive.” Arthur Levitt
“Prophet and Loss.” Stanford Magazine, April 2009.