Tim Geithner, who has been the previous Chairman of the Federal Reserve Bank of New York proclaims that the crisis has had nothing to do with his actions (or inactions, incompetence, lack of understanding of how the real world works) but that him and Obama managed to save the US economy.
As usual, if something goes wrong, it's not their fault, if something goes well, it's thanks to their skills and talent. Kind of revolting and disgusting.
Wasn't Geithner aware of his responsibilities and duties? Let's see what they were:
Wikipedia on the Fed: Its duties today, according to official Federal Reserve documentation, fall into four general areas:
- Conducting the nation's monetary policy by influencing monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
- Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system, and protect the credit rights of consumers
- Maintaining stability of the financial system and containing systemic risk that may arise in financial markets
- Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
Link to the YouTube video.