This is Ligonier's friendly neighborhood blog and an attempt to recapture our lively opinionated debates in a free speech zone.

Please join our conversations. Contributors welcome.


claysh@gmail.com

Monday, November 18, 2013

Time to Cash In: Geithner to Head Wall Street Private Equity Firm

Job destroying private-equity firms played a major role in the 2012 presidential campaign

"Ex-US Treasury Secretary Timothy Geithner, President Barack Obama's key economic adviser since 2009, is joining private-equity firm Warburg Pincus, according to a statement on Saturday. Geithner, who has spent the last 26 years in 'public service', will become president at the Wall Street-based corporate buyout firm starting on March 1st, according to a press release today from Warburg Pincus. When Geithner left his post with the Treasury Department in January 2013, Matt Taibbi told Democracy Now: “He’s the architect of “'too big to fail.' When this all blows up — and it’s going to blow up, for sure, because things can’t continue the way they are right now — people are going to look back in history, and they’re going to say, “Who was to blame for this?” And Timothy Geithner is going to be the guy who designed this entire system.”"

http://www.commondreams.org/headline/2013/11/16