Saturday, January 17, 2009

Geithner Should 'Fess Up

So Timothy Geithner knows where the bodies are buried in the sham "rescue" of banks, brokerages and insurance companies -- that's obviously why Barack Obama picked him for secretary of the treasury. That still does not excuse Democrats and Republicans in Congress bending over as if for a prostate exam in the face of the fact that the guy knowingly failed to pay taxes for several years.

Tax Cheating?

And he didn't discover the "error" himself. He even tried to get away with it until the IRS audited him.

I had a summer job at the IMF eons ago. Without his level of expertise, every U.S. citizen I knew who worked for the IMF knew full well they had to take care of their own taxes because the IMF is an international organization and is exempt from U.S. tax laws as they affect employers.

In fact, the Senate Finance Committee released this week a piece of paper Geithner signed at the time, acknowledging that he knew his obligations. Moreover, after the IRS audited him on three years in 2006, the Obama Transition Team found in December 2008 the same irregularities in the previous two years that the IRS had not found.

It was then that Geithner "voluntarily amended his tax returns," as the release states.

Tell Us All Where the Bodies Are

But there's another reason Geithner should withdraw: he knows where the bodies are buried and he's not ratting out who put them there.

The fact of the matter is that we're on the verge of seeing yet another banking debacle -- if it hasn't broken by the time I finish this -- and there are many months of debacles to come. The truly knowledgeable people have predicted a much, much lower Dow by the time it's all revealed to the public and a number of officials have been hinting at one coming up.

They knew. Some guys in Congress know. Probably Bush knows. Geithner surely knows this in full orchestration and four-part harmony. We the public are the only ones who don't know.

It's just like during the Cold War when the CIA and the KGB knew exactly what each other's government was doing, but they let "surprises" pop up so they could justify their existence and go on asking for ever bigger budgets for themselves and the purveyors of the arms race. We were the dupes.

Geithner has been an accomplice in the conspiracy of silence of the Bush Administration concerning the culprits and the size of the financial swindle.

He's been one of the guys who allowed, nay, made possible the use of $350 billion -- just think of the schools and food assistance and social security stability we could have bought for all that! -- for dividends to stockholders and bonuses to executives and business as usual for the 1 percent that has sucked up most of the gains and profits produced by 90 percent of all Americans.

Appoint him? Even after there's egregious evidence on tax cheating? He should be punished.

If, because he knows where the bodies are and can guide the hapless Democrats to them, he needs to be kept in the tent, he ought to apologize and profusely. He ought to be made to stand up in front of all of us and 'fess up -- and I don't mean just about the tax cheating.

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