zerohedge.com / by Tyler Durden / 01/25/2013 09:43 -0500
Today is Tim Geithner’s last day as Treasury Secretary. Below are some quotes from various exit interviews and recaps conducted with the former NY Fed president. We provide our succinct annotations to some of his answers.
On the bank bailout:
“To save an economy from a failing financial system, you have to do things that are going to be fundamentally impossible to explain to people,” Geithner said. “You’re going to look like you’re giving money to people who were responsible for burning down the economy.”
He is correct – the people who “burned down the economy” have received over $2 trillion in money since the great financial crisis began courtesy of the Fed…