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Cramer's Outrage: NY Fed Prez Tim Geithner
Nobody connected to the present administration, and its incredibly poor management of this financial crisis, should be considered for a post under President-Elect Barack Obama, Cramer said Friday. Least of all, Tim Geithner, president of the New York Federal Reserve, and rumored man behind the idea to let Lehman Brothers fail.
But Geithner’s on the short list for Treasury secretary, we hear. Cramer’s aghast that the man responsible for regulating the banks – and given our present situation we can see how well he did that – and who just appointed Bear Stearns’ former chief risk officer to a top bank regulation post no less, could even be considered.
“The man should be facing a Senate investigation,” Cramer said, “not a Senate confirmation hearing.”
If this happens, if Geithner gets the job, Cramer thinks we’re in for some very difficult times, saying that as secretary he’d be “a total disaster.” Ken Lay, Jeff Skilling, Bernie Ebbers, any of them might be a better choice.
Watch the video for Cramer’s full rant on Tim Geithner and his chances of getting a job in the Obama administration.
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