This man made millions suffer: Tim Geithner's sorry legacy on housing


This man made millions suffer: Tim Geithner’s sorry legacy on housing

This man made millions suffer: Tim Geithner’s sorry legacy on housing

Forget the book tour designed to polish his legacy. Tim Geithner’s record on housing will forever live in infamy


As Salon pointed out yesterday, Bush-era economist and Romney advisor Glenn Hubbard claims former Treasury secretary Timothy Geithner lied in his book “Stress Test,” when describing a conversation from 2012 about Hubbard supporting tax increases. But while the he said/she said doesn’t interest me, a separate, throwaway statement by Hubbard does matter — in fact, it tells you plenty about Geithner and his policy preferences during Obama’s first term.

“I saw some of the excerpts about housing and I must say I split my side in laughter because Tim Geithner personally and actively opposed mortgage refinancing, constantly,” Hubbard told Politico. “And now he’s claiming this would be a great idea in the country.”

We aren’t obligated to believe Hubbard here, especially because his recollection of the tax conversation is probably misleading, if not untrue. And unfortunately, Hubbard declined to elaborate when I asked him for more detail. However, we have a ton of public information available to inform the debate over Geithner and housing.


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One Response to “This man made millions suffer: Tim Geithner’s sorry legacy on housing”

  1. Sarah says:

    Most of these guys are scum bags and liars, surprisingly Larry Summers sounds like he suggested the right thing with cram down through bankruptcy. But just like Hubbard, Summers is a FIRE sector cheerleader, clearly just as much a sociopathic predator as Tim Geithner or any other duplicitous Bankster – just follow the money.
    It should make people seeth with rage that these bastards still non-chalantly assume “well we made some mistakes, we should have, could have, would have”. This includes the Obama Adminstration and the Justice Department that did everything they could to protect profit over people and basically let millions of people take it in the face. Tim Geithner just followed orders, they all did from corporate media’s Erza Klein to Eric Holder.


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