Tim Geithner Would Like To Like To Remind Wall Street's Banks Of A Little Something, But Particularly Goldman Sachs
And that something is simply this: YOU COULD'VE DIED LAST YEAR, AND YOU WOULD'VE IF IT WEREN'T FOR TG. He could've left you to die in fire, or on the side of the road, like dogs. The only reason you're here today is because he's a mensch. Got it? Got it real good? Now commit it to memory, bitches because the T. Geith does not appreciate having to repeat himself. HE HEARS YOU TELLING PEOPLE ONE MORE TIME-- ONE MORE!-- THAT YOU WOULD'VE SURVIVED LAST YEAR WITHOUT HIS HELP AND TG IS JUST GONNA SNAP.
Taking aim at what he called "an era of irresponsibly high bonuses," Geithner said all banks -- even those that have repaid government aid -- need to restrain the amount they pay their leaders and tie compensation to long-term goals.
The Treasury chief also disputed claims made by Goldman Chief Executive Officer Lloyd Blankfein that his firm would have survived last year's financial crisis without assistance from the federal government.
"The entire U.S. financial system and all the major firms in the country, and even small banks across the country, were at that moment at the middle of a classic run, a classic bank run," Geithner said. Of the big banks, "none of them would have survived a situation in which we had let that fire try to burn itself out," he added.
Geithner Slams Bonuses, Said All Big Banks Could've Failed [Bloomberg]
