The duplicitious campaign against Geithner

In a pretty much standard conservative article on the budget from the Times we get this
In an article in the current issue of the journal The National Interest, Mr. Friedman named this problem the “no-growth trap.” In the short term, this trap takes the form of resistance to emergency measures, like Germany’s distaste at bailing out more profligate countries, which may increase deficits. “The central paradox of financial crises,” Timothy F. Geithner, the Treasury secretary, said before leaving for the Group of 20 meetings in Europe last week, : “is that what feels just and fair is the opposite of what’s required for a just and fair outcome.”
And then Felix Salman cites the exact same article:
“The central paradox of financial crises,” Timothy Geithner, the Treasury secretary, said before leaving for the Group of 20 meetings in Europe last week, “is that what feels just and fair is the opposite of what’s required for a just and fair outcome.”

This is textbook Geithner. For one thing, it’s pure Technocrat. Geithner, here, is the worldly policy wonk, explaining why it’s silly to simply do what feels right. In fact, you should do what feels wrong!

The quote is also extremely defensive — as it probably should be, coming from the one member of Obama’s economic team who played a central part in orchestrating the Bush bailouts.

And I can’t help but see the influence of Occupy Wall Street here, too. They’re demanding justice; and Geithner is, essentially, dismissing them as unsophisticated rubes. If only they understood what he understands — then they’d see that the bailouts were in their own best interes

Note how the sentence I put in bold from the original article has vanished. So Geithner says that Germany may not want to bail out Greece but it needs to, and Salman explains that he means that the OWS protestors are "rubes". If they are, it's partly due to people like Salman lying to them.


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