Thursday, January 28, 2010

If Geithner "Had Removed HImself" And Was Not Doing His Job At The NY Fed during AIG Bailout, Then Why Was He Being Paid A Salary?

Representative Darrell Issa said today in a radio interview that Treasury Secretary Timothy F. Geithner was “simply not doing his job” in his last weeks as president of the Federal Reserve Bank of New York.

Geithner said that in retrospect he wish he'd known, "frankly,” “But after Nov. 24, I appropriately removed myself from decisions about a whole range of policy issues and the Fed was dealing with that.”

Issa says that by withdrawing from day-to-day matters at the New York Fed in late November without formalizing the arrangement in a signed document, Geithner left it unclear who was in charge.

If he had removed himself and was not doing his job, as he claims, then was he being paid a salary?

Bloomberg interview.

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