NY Fed Cheif Geithner speaks out--the worries of a member of the gang of 4

Even a mildly deaf person heard the sudden crush of the New York market on 6 June 2008. It suffered its steepest lost in years. Rising unemployment and a spike of us$10 in the price of a barrel of oil to us$139, another sound barrier broken. Now a member of the Gang of 4, the ones who torpodoed Bear Stearns, and sold it to Jaime Diamon at JPMorgan Chase for 30 pieces of silver,Tim Geither, chief bottle washer at the NY Fed, is calling for a shake up in the financial community. Let's face it, the US markets are in a mess, owing to malign neglect of the monied classes which have the presidency and the houses of Congress and some may say the Supreme Court in their hip pocket. Government oversight has been steadily weakened, especially under the watch of the toilet bowl cleaner Alan Greenspan. Greed was good; the bottom line and coupon clippers ruled the roost; what was good for the rich was good for the US, and the hard working stiff be damned. And now Gauleiter Geithner is calling for a gleichanschaltuung of financial markets, to save his paymasters. The subprime Ponzi scheme collapse has made the whole financial network here and abroad HIV+. Gauleiter Geither's call may not fall on deaf ears but his class and caste haven't the political will nor the economic foresight for reform. Just look at Herr Bush's banal words as he set off for his swan song among his peers in Europe. They're meaningless and vacuous and ingenuous. He simply doesn't give a tinker's damn. Never has. He thinks and rewards his cronies and the class the Bush's fought hard to get into. Let's see what this mage of New York can do. Gauleiters usually end up at the end of the rope, and Herr Geithner is giving himself enough to choke on his own bromides.