Former Timothy Geithner Testifies On Wall Street Bail Out

Treasury Secretary Timothy Geithner testified at a House Oversight and Government Reform Committee hearing on Wednesday on the bailout of the giant insurance company, AIG. It was great to finally see someone having to answer some questions about what, in my opinion, was the biggest rip off of the American people since the inception of the Federal Reserve Bank.


At one point during the hearing, after a particularly tense round of questioning, Mr. Geithner made a great effort to appear indignant, saying to one of his questioners, "....you are suggesting that we weren't acting in the public's interest...!" 


Pretty comical, Mr. Geithner! Of course he knows that is the reason for the hearings in the first place.

Financial Bailout

In a 2006 study, the World Institute for Development Economics Research of the United Nations University(UNI-WIDER)reported that more than half of the world's wealth is in the hands of only 2% of its population, while the poorest half of the world's population owns less than 1% of the world's wealth. The study was based on data obtained from 2000, so it is likely that these numbers changed significantly during the Bush era.

Meanwhile, the US government decides to give hundreds of billions of dollars to the lending industry, even though both the Democrats and Republicans said they and their constituents were against doing so. It's not hard to see who they are really working for is it?

This movie from the Zeitgeist website offers some keen insight into the way things work and how they got so bad. Please share this with as many people as you can.