You misunderstand. I was not blaming Geitner. I was saying I don't know that much about him (like I don't know much about Larry Summers or Robert Rubin), but he was in charge of one of the Federal Reserve Banks, and is supposedly one of those bright people, so what did he know? I was asking the question. I'm sorry I wasn't clear. From what I've heard/read about him, he is supposed to be one of the people most likely to get us out of this mess. But again, I don't know much about him, so I don't know. IF he helped create the mess, he should not be in charge of getting us out of it. Neither should Larry Summers or Ben Bernanke or Hank Paulson, or anyone else who created the problem.
I have been raging against Wall Street and CEOs for ages. I think they are way overpaid, I always have. I call them corporate pirates. I don't think most of them deserve the money they make. I have also been griping about deregulation, ever since Reagan started the deregulation boom. I do not now, nor have I ever, thought business would effectively police itself. It goes against reality. And the more we deregulate, the more corrupt things get.
I watched a show on CNBC called "House of Cards" the other night about the meltdown.
http://www.cnbc.com/id/28892719 It was very informative. Fannie and Freddie did not invent the subprime mortgage, nor any of the other unethical and questionable (borderline illegal?) activities that collapsed the market. Those were invented by Wall Street corporate pirates and other vultures in the wake of the deregulation of commercial and investment banks.
What pisses me off, is there are people walking away from this with millions and millions of dollars. They knew what they were doing was questionable. How could they not know? But they did it anyway. And they collapsed the entire world economy. They should all go straight to prison, AND lose all their money. THEY should be the ones bailing us out, don'tcha think?