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Forum Post: Tim Geithner Made $200,000 From a Single Speech At Deustche Bank (which he bailed out)

Posted 4 years ago on July 9, 2013, 6:28 p.m. EST by toobighasfailed (117)
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The Financial Times has the news: Tim Geithner has made $400,000 in speaking fees since he left his role as Treasury Secretary—$200,000 of which came from a single speech he gave at Deutsche Bank.

In 2009, Deutsche Bank received nearly $12 billion from AIG after AIG was bailed out by the US taxpayer, with Geithner adamantly insisting that AIG receive 100 cents on the dollar (i.e. no haircut). So $200,000 was the least Deutsche Bank could do for Geithner, right?

It seems to us that Wall Street uses speaking fees as a loophole to pay public servants back for their “service” when they leave office. We’ve seen the same thing happen with Alan Greenspan and Larry Summers, and it’s a horrible precedent. If public servants know they can join the 1% simply by giving a speech or two after they leave office, then they’re bound to privilege certain citizens (the ones with the money) more than others.

It’s not public service if the public isn’t served.

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[-] 4 points by elf3 (3898) 4 years ago

We always knew he worked for Wall Street - problem is there isn't enough tarring and feathering taking place by the people. I just don't understand this brainwashed acceptance by what seems to be a majority of the American populous - what the hell? They put their dicks in our faces time and time again and you just keep pretending it's not staring us in the face - a big one eyed monster looking back as if from a pyramid on a freshly printed bill.. I'm beginning to blame Congress less and less and becoming more and more pissed of at the citizenry of this nation !! we pay congress to have have their own protective forces (aka police that make ridiculously inflated salaries) to protect this den of thieves - we couldn't get close enough to blow a flower petal in their direction let alone a bucket of fresh tar - Tim Geithner belongs in jail - but instead he is laughing all the way to the bank - laughing so loud there is barely an audible slapping noise underneath the roar of the printing machines ... what threats can we use ?/ (We might stop letting you slap your penis against the side of out faces and switch to a soft rhythmic rubbing?)

[-] 1 points by cruisecontrol (-49) 4 years ago

Obama promised that his "most transparent misadministration ever" would close the revolving door bt govt and lobbyists. Guess he forgot about that other revolving door! Of course, if it wasn't for those speaker fees, Bubba and Hillary would be living in a shack!

[-] 1 points by houston10 (-7) 4 years ago

I hope he remembers to pay his taxes this time.