Raymond Richman - Jesse Richman - Howard Richman
Richmans' Trade and Taxes Blog
Did Geithner lean on U.S. regulators on behalf of the Chinese government in June 2009?
One of President Obama's more inexplicable decisions was his choice of Timonthy Geithner for Treasury Secretary. About the only thing recommending him was the fact that he spoke Chinese, having been partly educated in China. His incompetence was breathtaking:
Now, according to Wikileaks cables, he possibly leaned on U.S. regulators to rule in favor of the Chinese government in June 2009. Here's a selection from the Reuters report:
I cannot think of any way that President Obama could have come up with a more China-friendly set of top economic advisors than the ones he picked (Geithner, Summers and Sperling). He had the top experts of the Democratic mainstream at his beck and call including top financial expert Warren Buffett, top business economist Ralph Gomory, and top international economist Paul Krugman. Instead he picked someone who had been proving his incompetency and who may have been willing to do the bidding of the Chinese government.
Journal of Economic Literature:
Atlantic Economic Journal: