Does Your Bank Need Help? Don’t Tell Geithner Or You’re Fired!
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Timothy Geithner, the man who couldn’t figure out TurboTax, made a warning on Sunday to all bank boards and CEOs. If they’re having trouble, and they ask for help, then he just might have to fire them.
“If in the future, banks need exceptional assistance in order to get through this, then we will make sure that assistance comes,” while ensuring that taxpayers are protected, Mr. Geithner said Sunday in an interview on “Face the Nation” on CBS. “Where that requires a change in management and the board, then we will do that.”
Isn’t this like the confused kid in class being told that if he asks too many questions he’s going to be held back? Let’s not shout threats to banks that make them want to cook the books to keep their boards and CEOs in place.
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