Stories like this are increasingly troublesome for the Obama administration I suspect. According to the article, he says:
"I don't think our government should set caps on
compensation," Geithner told Newsweek's John Meacham during a live
interview at the National Press Club. But Geithner acknowledged that
pay structures on Wall Street contributed to the financial collapse.
While I understand thhe financial collapse was a complicated one and
involved many key players, to turn around and acknowledge that the lack
of compensation limits played a hand in causing this mess and then
choosing to not do anything about it strike me as just irresponsible.
Additionally, with a growing number of the public losing their jobs
with no end in sight for job recovery, it gives the impression that
Geithner is only looking out for his former colleagues on Wall Street
rather than paying attention to the middle class who will ultimately
play a lead role (in spending) to get us out of it.
I'm not jumping on the bandwagon just yet to say that Geithner
should be dumped, but it puts serious doubt on his ability to see the
entire picture.
-from Seraph at After Stripping Him Of Seniority, Democrats Throw Specter A Small Bone