You remember Tim Geithner, the big Wall Street honcho who was confirmed as Secretary of the Treasury even though it emerged that he had not paid his income taxes. President Obama dismissed this lapse in judgment as of no consequence, saying Tim Geithner was indispensable to the country, and the only man capable of rescuing the economy from the near bottomless pit it was left in by George W. Bush. Yes, that Tim Geithner. Or rather, this Tim Geithner.

 

 

Our Treasury Sec he pays no tax

Tim Geithner is his name

He says the IRS expacts

Us all to play the game

According to the rules laid down

By people such as he

Who laugh at those who get paid down

By year or quarterly

The rules all have an angle for

The Sec and guys like him

And guys like Charley Rangel or

The other cherubim

He was confirmed despite the fact

His taxes were not paid

For some the deck is always stacked

And allegations fade

He says he has a plan to save

The country and its folks

He says to shut our eyes, be brave

And tell each other jokes

While he in secret lays the plan

For rolling back the tide

He’ll tell us as soon as he can

But now he has to hide

The details from our very eyes

Since we don’t have a clue

What those so bright financial guys

Are really gonna do

So what is it we need to ask

Tim Geithner has in store

To pay the bills our only task

Just that and nothing more

 

But that was then and this is now. Robert Stacy McCain, writing in The American Spectator, tells of Mr. Geithner’s escalating war with Neil Barofsky, the special inspector general for the Troubled Asset Relief Program (SIGTARP), the bailout that sent hundreds of billions of dollars to such as insurance giant AIG and financial giants Bank Of America and Geithner’s pals at Goldman Sachs. Mr. Barofsky has reported that the bailout will eventually total 23 TRILLION dollars, a figure vigorously disputed by Geithner spokesmen. What is more irksome to Treasury is that Mr. Barofsky suggested strongly that Goldman Sachs and other recipients of taxpayer money should be required to report what they did with the funds so that the American people would know the money wasn’t being sent down a black hole. With polls showing the American people now believe the Obama administration has bungled the economy, with bailout billions going to political pals, it is a near certainty that President Obama will soon be looking for a scapegoat, and that scapegoat will be the once indispensable man, Timothy Geithner.

 

“Will no one rid me of this meddlesome priest?”

Cried English king Henry the Second

Words Timothy Geithner must think of, at least

As Treasury’s Tarp troubles beckoned

As billions uncounted rolled out the front door

To pals and to all he called friend

An inspector general began to explore

How much it would cost in the end

The numbers he crunched told the story of how

If continued the figures did show

That from mere hundreds millions it stood at just now

Into twenty-three trillions ‘twould grow

Obama could see that poll numbers to date

Showed the public would hold him at fault

So in order for him to continue to skate

He’ll lock Timmy in Treasury’s vault