Here is what Geithner had to say about financial markets in a speech in Atlanta in May 2007, just about a year before the crisis really ignited:

“Changes in financial markets, including those that are the subject of your conference, have improved the efficiency of financial intermediation and improved our confidence in the ability of markets to absorb stress.”

Later he added, “The larger global financial institutions are generally stronger in terms of capital relative to risk. Technology and innovation in financial instruments have made it easier for institutions to manage risk.”

That rosy description by a Fed president kind of makes you want to run out and buy stock in Lehman Brothers Holdings Inc., doesn’t it? No wonder the Fed failed to press the industry harder. It thought that financial innovations had worked a miracle.

Geithner used to be asleep at the wheel in New York. Now he is asleep at the wheel in Washington.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a1B7Cs1f.TO8

excerpt:

The New York Post reported this morning that lawmakers are discussing JPMorgan Chase CEO Jamie Dimon as a potential replacement for current Treasury Secretary Timothy Geithner.

Leaving aside concerns that appointing a Wall Street CEO to the Treasury’s top position would draw heavy criticism over Wall Street’s coziness with Washington, it’s not clear that Dimon would be a natural fit in the Obama administration. According to the Wall Street Journal, Dimon departs from White House policy on a handful of key issues.

http://www.huffingtonpost.com/2009/11/23/jamie-dimon-treasury-secr_n_368218.html

from: http://loyalkng.com/2009/10/31/lil-wayne-is-a-birthday-cake-for-14-year-old-daughter-of-alec-baldwin-kim-basinger/

http://www.washingtonpost.com/wp-dyn/content/article/2009/11/11/AR2009111122257.html?nav=rss_opinion/columns

excerpt:
“Over the course of an average month at the NYMEX, 5 BILLION barrels of oil will be traded, with a fee being collected on every single transaction which is ultimately passed down to US consumers, yet less than 40M barrels will actually be delivered. That is just 8 tenths of 1 percent of actual demand for the product that is being traded – 99.2% of the oil transaction fees being paid by the American people do nothing more than create fees for the traders and record profits and bonuses for the trading firms!”

http://seekingalpha.com/article/172797-the-global-oil-scam-50-times-bigger-than-madoff

lets just make EVERYTHING free and let the gov’ment tell us what we need and don’t need….