Socialism We Can Believe In.
April 5, 2009
“When in the future — or I would say, if in the future — banks need exceptional assistance in order to get through this, then we’ll make sure that assistance comes with conditions, not just to protect the taxpayer, but to make sure this is the kind of restructuring necessary for them to emerge stronger,” [Treasury Secretary Timothy] Geithner said on CBS’s “Face the Nation.” “Where that requires a change of management and the board, we will do that.”
Responding to criticism that the Obama Administration is being tougher on the automobile industry than the financial industry, Mr. Geithner, according to the Wall Street Journal, “pointed to the Bush administration’s treatment of executives and board members at Fannie Mae, Freddie Mac, and American International Group Inc., to which the government gave major financial assistance over the last several months.”
I thought we were moving past the failed policies of the last eight years.