Skip to main content

Geithner: bailouts not designed to help Goldman

Those of you following Finance Trends on Twitter may have seen my earlier tweet about the upcoming "Digg Dialogue" interview with Tim Geithner, hosted by WSJ online editor Alan Murray.

That interview will include questions submitted to Geithner from Digg users - and many of them, from those concerning a proposed audit of the Federal Reserve to questions about Geithner's past tax "issues", are appropriately on target and often hilarious.

So while I had a great time reading through some of these user comments (hat tip: Howard Lindzon), I had to wonder how many of the top questions would actually make the cut.

Now, Alan Murray informs us that he has indeed posed these Digg questions to Tim Geithner, and that the full interview will be up on Digg and WSJ.com on Tuesday.



In the meantime, here's a brief clip from that interview. In this segment, Geithner states that the US bailouts and rescue efforts of financial firms were not designed to help Goldman Sachs or any particular firm.

Oh, and here's one more excerpt from the accompanying WSJ blog post:

"
Mr. Geithner said while he understands the public anger towards the bailouts, policymakers acted honorably in their efforts to save the financial system. He said the government needs policymakers who understand financial markets and are able to help craft efforts that protect taxpayers."

So I'll leave you with one question: have you seen evidence that our recent policymakers understand financial markets and are crafting "efforts that protect taxpayers"?

Update: full WSJ interview w/ Geithner now available online.

Popular posts from this blog

Seth Klarman: Margin of Safety (pdf)

Welcome, readers! Signup for free email updates at the Finance Trends Newsletter . Update: PDF links removed due to DMCA notice. Please see our extensive Klarman book notes below. New visitors, please check the Finance Trends home page for all new posts. Here's something for anyone who has been trying to get a look at Seth Klarman's now famous, and out of print, 1991 investment book, Margin of Safety .  My knowledge of value investing is pretty much limited to what I've read in Ben Graham's The Intelligent Investor (the book which originally popularized the investment concept of a "Margin of Safety"), so check out the wisdom from Seth Klarman and other investing greats in our related posts below. You can also go straight to Ronald Redfield's Margin of Safety book notes .    Related posts: 1. Seth Klarman interviews and Margin of Safety notes     2. Seth Klarman: Lessons from 2008 3. Investing Lessons from Sir John Templeton 4.

Slate profiles Victor Niederhoffer

Slate's recent profile of writer/speculator, Vic Niederhoffer has been getting some attention from traders and finance types in recent days. I thought we'd take a look at it here too, to offer up some possible educational value from Vic's experiences with trading and loss. Here's an excerpt from Slate's profile of Victor Niederhoffer : " I've enjoyed getting your e-mails. It sounds like you've thought a lot about being wrong. Well, the reason you contacted me, to call a spade a spade, is that I'm sort of infamous for having made a big, notorious, terrible error not once but twice in my market career. Let's talk about those errors. The first was your investment in the Thai baht, which pretty much wiped you out when the Thai stock market crashed in 1997. I made so many errors there it's pathetic. I made one of my favorite errors: "The mouse with one hole is quickly cornered." That is key. There are certain decisions you make in li

William O'Neil Interview: How to Buy Winning Stocks

Investor's B usiness Daily founder and veteran stock trader, William O'Neil share d his trading methods and insights on buying winning stocks in an in-depth IBD radio interview. Here are some highlights from William O'Neil's interview with IBD: William O'Neil's interest in the stock market began when he started working as a young adult.  "I say many times that I didn't get that much out of college. I didn't have much interest in the stock market until I graduated from college. When I got married, I had to look out into the future and get more serious. The investment world had some appeal and that's when I started studying it. I became a stock broker after I got out of the Air Force."    He moved to Los Angeles and started work in a stock broker's office with twenty other guys. When their phone leads from ads didn't pan out, O'Neil would take the leads and drive down to visit the prospective customers in person.