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Treasury Secretary Timmy "Back Taxes" Geithner made a not-so triumphant return to headlines this week as the Obama administration began to focus its reform efforts on the housing finance market. Geithner was widely quoted as saying that the mortgage finance industry's fallen giants, Freddie Mac and Fannie Mae, need to be overhauled, and that the administration "will not support returning Fannie and Freddie to the role they played before conservatorship, where they took market share from private competitors while enjoying the perception of government support."
Geithner, often the mouthpiece for the administration's financial reform efforts, has received a lot of heat since taking office at the beginning of 2009, and one thing he's been continually accused of, as the The New York Times pointed out yesterday, is having worked for Goldman Sachs.
The truth is Timmy G. has never been on Goldman's payroll; he's pretty fed up with folks thinking that he has and, given Goldman Sachs' public standing as a greedy squid with a heart of coal, who can blame him?
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