News

Tim Geithner Had Some Chats About The AIG Bailout He Wasn’t Involved In

timgeithnerbluetie.jpgTimmy G, who, as we know is getting really frustrated with the whole AIG bailout storyline, apparently had a nice convo with Warren Buffett, Jamie D. and Lloyd on the day AIG was bailed out, at least according to phone logs submitted by the Fed in response to a subpoena last week from the House Oversight and Government Reform Committee.
Tim- who will testify next week- is maintaining, he never “looked at AIG memos” and that he “wasn’t involved in any AIG decisions.” Actually, he doesn’t even have any idea what AIG is. That talk with the big boys? Wasn’t him on the phone. Now leave him alone. Go harass Ben.

13 comments
(hidden for your protection)
Show all comments

13 Responses to “Tim Geithner Had Some Chats About The AIG Bailout He Wasn’t Involved In”

  1. Anal_yst says:

    if memory serves correctly (it might not, after years of alcohol abuse), Timmy had already gotten the nod to be Treasury Secretary and was thus relieved of most duties by that point. No?

  2. guest says:

    @1 Sept 2008? really? you think TG got the nod to be Sec. before obama was elected president?

  3. guest says:

    It's well-known that TG believes in an "open-door" policy. People borrow his office to use his phone all the time. And naturally, they have to log the calls. Because he's stickler for maintaining thorough records of everything. That's just good practice.

  4. Greg Michaels says:

    Well done my little protege

  5. Lowly Assistant says:

    Geithner: WAIT! WAIT! WAIT! When the hell did I bailout AIG?
    Bernanke: I don't know!
    Representative Darrell Issa: That elf talks!
    Geithner: Where? Where? I don't like Elfs!
    Representative Edolphus Towns: We don't have time for this! Grab the memos.

  6. Lowly Assistant says:

    2,
    C'mon, man. You think Obama was elected, went home, poured himself a stiff gin and a bowl of cereal, reached into the box, pulled his ticket to Washington, and said, "I just got elected! Hmm…now who should I pick to come to DC with me?"
    http://www.washingtonpost.com/wp-dyn/content/arti

  7. Lowly Assistant says:

    Choice words from the WP link above:
    "'You saw the relief rally in the market today. . . . These are the kind of people you want with their hand on the till in a storm. And we're in a Category 4.'" – Sen. Kent Conrad
    Good times.

  8. Anal_yst says:

    @2
    Apparently you missed the "if memory serves correctly…" qualifier.
    I'm sick and still reeling from the bender that was last week, so I make no claims about the coherence, accuracy or whatever that spew-forth form my finger tips.
    Regardless, you are indeed correct, and whiile I'm too lazy to find it, I've heard this "Geithner wasn't involved" thing before, just too lazy to find where its all explained (maybe SIGTARP report?) FRBNY had a team assigned to AIG, which as far as I can tell, Geithner let operate relatively autonomously, with him receiving updates as-necessary (er "necessary"). I'm not absolving him of responsibility, just saying there were a bunch of others involved, more-so than he.

  9. guest says:

    @8 I saw the qualifier, I just couldn't believe anyone would be that dumb.

  10. guest says:

    Anal_yst,
    Thanks for making sense of all this for the rest of us. You're the Ja Rule of the finance community.
    -Not Dave Chappelle but a fan of his work

  11. X6lSCe Looking forward to reading more. Great article.Much thanks again. Want more.

  12. Thank you very much! I took it for myself too. Will be useful!!…

  13. Finance says:

    Really informative article post.Thanks Again. Want more.