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Former Obama Official Is Now Ripping Off Poor People For A Profit
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July 15, 2018
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7:31Now PlayingFormer Obama era Treasury Secretary Tim Geithner has found a new job. His job, no surprise, is ripping off poor people for a profit. Ring of Fire's Mike Papantonio and Farron Cousins discuss this.
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Former Obama era Treasury Secretary Tim Geithner has found a new job. His job, no surprise, is ripping off poor people for a profit. Well, we've always known this about Geithner. He comes up through the ranks of Bill Clinton. He's Bill Clinton's boy. I can't count the number of pictures with big Bill and his arm around his little Tim Geithner.
And so all of a sudden we learn exactly what we knew about the guy. He was all about Wall Street the entire time he's working with Obama, the entire time he's working with Clinton. And now he has this job. And the job is to figure out how we can extract as much money as possible from poor people. It's basically a weekend lending kind of program isn't it?
It is. This Mariner Finance that he's running, it's part of his Warburg Pincus group that he's the president of. But what it is, Mariner Finance is essentially pay day lenders in a suit and tie. Your average payday lender, if you see those buildings, they're not very clean, they're not very nice looking. But Mariner comes then, and they're dressed in suits, they look like a bank.
Yeah.
But it's the same horrible 30, 40, 50% interest rate. But unlike the payday lenders who usually top out at about a $1000, they'll give you a lot more than that. And then they will immediately sue you-
Yeah.
... if you miss a payment. This is payday lending on steroids, but it's going under the radar because again, it's in a suit and tie. They look like a Wall Street bank, they act like a Wall Street bank. They are a Wall Street bank. This is just a way for them to get in on the action. And Tim Geithner, Obama's guy. The guy that used to basically run the economy, he's running this show.
Okay. And back then, do you remember we were beating on Geithner?
Yeah.
We were beating on Obama. We were beating on Clinton. We covered these stories way back then.
Yep.
And we said, this is becoming the face of the Democratic party. And we said back then, "If they keep this up, they're gonna have nothing in common with America's voters. Nothing." So now ... Okay, where are we? Now it's almost like they've given up.
"Okay, we're gonna be who we've always been." So Tim Geithner goes to work with these thugs. They are corporate thugs. They don't look like thugs, they don't ... You know, they say, "Well you know, in a hoodie, that's a thug. But we're in a suit. We're not thugs."
Tim Geithner is a thug, and has always been a thug. He's always been on the side of Wall Street, always from day one. And it's like every time you talked about him, remember the emails we used to get?
Yeah.
"How dare you talk about little Tim Geithner." Who was the other guy? Geithner and ...
Summers.
Summers. Yeah, okay. So Geithner and Summers were like Twiddly-dee and twiddly-dumb working for Wall Street. Summers is working for Wall Street now. There's no surprises here, man. But I guess what's agonizing to me is when we used to talk about this, they'd say, "Oh, no. You're making this guy look worse than he is."
And we have to ... And even though we know he's bad, you still have to. You have to be positive, because-
Because he's a Democrat.
... he's Obama's guy.
Yeah.
We got those messages constantly. That is not an exaggeration. People would tell us, "Yes, everything you're saying is true. But stop saying it, because it makes him look bad."
Leave the Democratic party or get it straight. That's my message. Leave the damn party, or get it straight. Right now unfortunately between republic and democrat, it's slightly the best selection, but it aint much of a selection. There's no differences here. This guy is much a republican as he was back when he was with the Obama administration.
Right. And you know, one of the exceptionally ugly things that this Mariner Finance is doing under Tim Geithner's leadership is, they're actually openly soliciting-
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