POWIP Piece of Work In Progress

Dylan Ratigan unloads on Tim Geitner…

Calling for his resignation, based in part on actions while at the Federal Reserve Bank of NY, but mostly for perpetuating the culture of opacity that he Dylan feels was a prime component in last year's market meltdown, as well as essentially codifying some the more destructive bank practices here in the US:

Yet in the past 9 months, not only has the administration not fixed anything, they have made things much worse for anyone who isn't a Wall Street banker. Therefore, we are past the point where anyone in power still gets the benefit of the doubt and the process of taking back our country for all citizens must begin now.

This is why I think we must ask if U.S. Treasury Secretary Timothy Geithner is still the right person for the job. It has become clear recently that back in his previous role as New York Federal Reserve Governor, he unnecessarily gave billions of dollars of US tax money to banks and insurance companies with few strings attached. And it is now becoming clear that his lack of meaningful action is helping many of these same banks steal more by legalizing their most economically dangerous, socially destructive and self-enriching practices.

This is a powerful argument, written by someone who fully understands the nature and practical operation of the US Financial system, and not just another rant by a partisan Obama hater.  Indeed, Ratigan is currently host of an MSNBC show called "Morning Meeting".  Full disclosure: I never watch it, but know of Ratigan from other network exposure and his tome at CNBC.  Read the whole piece here, so you don't have to give Arianna Huffington the benefit of your traffic.

(H/T Zero Hedge)

Rocketman