Mike Swanson's picture

Treasury Secretary Geithner Caught Up in Housing Bubble - Mike Swanson (06/04/09)

Treasury Secretary Tim Geithner personally got caught up in the housing bubble. Geithner paid $1.602 million for a home in a tony Ne York City suburb in 2004. The house is about 3,300 square feet.

He put the home up sale in February after moving to DC to become Treasury Secretary for Obama and Goldman Sachs. He listed the home for sale for $1.635 and has not been able to find any takers on it.

He then reduced it to $1.576 and still no bidders materialized.

He just took the home off the market and put it up for rent for $7,500 a month.

One wonders if someone who personally got caught up in the housing market - unable to read the trends - should be the man in charge of the Treasury Department. It appears we are headed overtime with a falling dollar and rising gold stock picks.

All Geithner has been doing is printing money, busting deficits, and bailing out bankers since he got in office. He engineered many of the bailouts that led to the current crisis over the past ten years and has been known as a point man for Goldman Sachs.

His bailout schemes helped create a market in turmoil with wild gyrations making it tough for most investors and the successful have to stock with stock trading basics.



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