Friday, May 8, 2009
Banking on banks.
The Doser regrets that he did not have a pen at hand to record exactly the inane remark that Timothy Geitner,Secretary of the Treasury,made in his testimony before Congress. It was reported by KGW yesterday. The gist of what he said was that, by our further infusion of cash, we would achieve an unprecedented transparency of their banking function! Could that be what we're buying from them: additional information about what the blighters are up to? Even the WSJ seems to have missed the remark.