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Geithner Gives Us A Bedtime Nightmare To Sleep On

Many Americans will face hard times for a long time to come. Geithner says will be some time before many people feel like the country is recovering. Geithner tells NBC's "Meet the Press" that it's a very tough economy. He says that for a lot of people "it's going to feel very hard, harder than anything they've experienced in their lifetime now, for a long time to come." Of course, Geithner is a large part of the reason that it will be so hard. As I pointed out in May: Geithner has been a big part of the problem. He's previously said that his job as head of the New York Fed wasn't as a regulator, even though one of the Fed's core jobs is to regulate. As Dylan Ratigan writes: In Geithner's own words during confirmation hearings in March: "First of all, I've never been a regulator...I'm not a regulator." According to the New York fed bank's Web site, that was your job!! Quoting from the Fed's website: "As part of our core mission, we supervise and regulate financial institutions in the Second District." That district of course is the epicenter for bailed out banks and billion dollar bonuses.

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