Barry Righolts of The Big Picture puts his finger on what is bothering me about Geithner:

• You no longer work for the Banks: The NY Fed is a private corporation, doing the bidding of the FOMC and its private sector owners — primarily, the primary dealers. In other words, the President of the NY Fed works for the biggest commercial and investment banks in New York. That is no longer operational for you.
• As Treasury Secretary, your immediate boss is the President, and your ultimate charge are the citizens of the United States, and the finances of the country.
• When any conflict comes into play between the nation and the banks, you as Treasury Secretary are on the side of the Nation.
• You cannot serve two masters, especially when they are in direct conflict with each other.

In its most basic form, all this talk about nationalization being somehow beyond the pale is really about people who do think that whatever is good for the banks is good for the county, and Geithner and Summers are both on that side….Or they are for now.

The question is not, “How do we save the banks,” it’s, “How do we get normal access to credit going again with a minimal impact on the taxpayer,” and throwing trillions at banks for their sh%$pile assets does not serve the nation or the taxpayers.