Geithner And AIG; Bailout Tracking

Timothy Geithner, an Obama appointee I believe, is in serious doo-doo. How this guy was even put in this position given his past is beyond me.

From Marketwatch:

Geithner looks bad enough by being in the same room with AIG. He looks downright filthy in trying to keep the nosy public from following the money -- its own money.

He may survive the outcry and the congressional hearings being threatened, but as an effective proponent of Wall Street reform, he's lost credibility.

From Newseek:

Sources at the Treasury and New York Fed played down the significance of the e-mails in interviews with NEWSWEEK and argue that the AIG bailout is going according to plan, and that taxpayers will eventually be paid back for their investment and could make a profit.

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Speaking of bail outs. Here's a link to a site tracking it:

Altogether, the Treasury has collected $20.6 billion in revenue from the TARP and the Fannie and Freddie bailouts. So that’s our monthly sobering assessment of the likelihood of recouping the bailout funds: $337.5 billion out the door, at least $9 billion that almost surely won’t be coming back, and $20.6 billion in revenue to serve as a buffer against losses.

Ouch.