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The name of my publication is Wall Street Insights & Indictments for a reason.
It's a platform for calling out the trash generated by Wall Street or government money-grubbers that should be taken to the garbage heap.
Here's a prime example of what I mean.
Timothy Geithner, the former president of the Federal Reserve Bank of New York and former secretary of the Treasury, went from bailing out giant predatory banks, to pretending to chastise them, to becoming president of Warburg Pincus – a New York investment firm that owns a private equity fund that owns Mariner Finance, a predatory lending heap.
What Mariner does (and why) tells us more about Timothy Geithner than any statement he released as Treasury secretary.
Here's how pontificating protectors become profiteering piglets…
Geithner's Government Work
Okay, I gave you the ending just then. Of course, government gangsters are money-grubbers and do what they do ultimately to get paid in spades. That's the game. That's the revolving door.
Tim Geithner's no different, though a lot of people thought he was.
From Nov. 3, 2003, to Jan. 26, 2009, Geithner was president of the Federal Reserve Bank of New York.
The New York Fed is the most powerful regional Fed Bank, by a long shot.
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The truth is there are 12 Fed branches or districts, because having only one branch in New York, where all the power lies, would have made the passage of the Federal Reserve Act impossible to sell to a duped Congress and public in 1913.
The president of the NY Fed is a permanent member of the FOMC – the Federal Open Market Committee – the committee that sets rates. It's the NY Fed that executes all the Fed's open market operations, meaning it does all the Fed's trading. It's also where the banking elite meets regularly with their primary regulator, the New York Fed.
It was under Geithner's eye that the Fed bailed out all the failing banks that were "too big to fail."
For his saving of the big greedy banks from themselves, he was offered the Treasury secretary's job by then-President Barack Obama.
There, he continued to pontificate about how bad Wall Street could be and how Dodd-Frank was a good thing.
And importantly, pontificating how "The financial crisis exposed our system of consumer protection as a dysfunctional mess, leaving ordinary Americans way too vulnerable to fraud and other malfeasance." And how "Many borrowers, especially in subprime markets, bit off more than they could chew because they didn't understand the absurdly complex and opaque terms of their financial arrangements, or were actively channeled into the riskiest deals."
Then he left government service to get paid, properly, for all his saving grace.
How Hypocrites Make Their Money
About the Author
Shah Gilani is the Event Trading Specialist for Money Map Press. In Zenith Trading Circle Shah reveals the worst companies in the markets - right from his coveted Bankruptcy Almanac - and how readers can trade them over and over again for huge gains.Shah is also the proud founding editor of The Money Zone, where after eight years of development and 11 years of backtesting he has found the edge over stocks, giving his members the opportunity to rake in potential double, triple, or even quadruple-digit profits weekly with just a few quick steps. He also writes our most talked-about publication, Wall Street Insights & Indictments, where he reveals how Wall Street's high-stakes game is really played.