Tax Cheat Timmy Geitner Thought Economy Was Great Right Before It Collapsed

In a January 2006 Fed FOMC meeting right before the housing market collapsed, Tim Geitner was quoted praising out going easy money Alan Greenspan and saying the economy was nothing but peaches and cream. Within a matter of months the housing bubble Greenspan inflated began to burst and initiated the largest economic depression since the Great Depression. Greenspan was a serial inflationish counterfeiting bubble blower and probably the worst Fed Chairmen we’ve had up until Ben Bernanke. Let’s take a look at what Turbo Tax Timmy Geitner said to outgoing Fed chairman Alan Greenspan:

“I’d like the record to show that I think you’re pretty terrific, too. [Laughter] And thinking in terms of probabilities, I think the risk that we decide in the future that you’re even better than we think is higher than the alternative.[Laughter] With that, the economy looks pretty good to us, perhaps a bit better than it did at the last meeting. With the near-term monetary policy path that’s now priced into the markets, we think the economy is likely to grow slightly above trend in ’06 and close to trend in ’07.”