Why should anyone be surprised if Treasury Secretary Tim Geithner went along with a plan to allow "retention" bonuses to keep the people who created the mess at AIG -- because they are "the only ones" who know how to solve it.

Remember when we were told that because Geithner had been part of the Paulson team that orchestrated the early stages of the bank bailout - he was indespensible?

We were told that because he understood the situation so well, congress must confirm him immediately. We were told that the dire situation required that they overlook the fact that he forgot to pay his taxes.  (He subsequently paid them around the time he was offered the job at treasury.) Why? Because he was the only one who could solve it.

Sound familiar?

This entry was posted on Wednesday, March 18th, 2009 at 12:21 pm and is filed under Martha's Memo. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.