“Viewpoint” host Eliot Spitzer and Dennis Kelleher, president and CEO of Better Markets Inc., analyze the House Financial Services Committee’s hearing featuring testimony from Treasury Secretary Timothy Geithner.
Kelleher questions the sincerity of the hearing, ostensibly intended to get to the bottom of whether American officials did their job when it came to regulating Libor, a benchmark rate worldwide, that Barclays and possibly several other banks rigged for their own gain.
“In the six months before a presidential election, there’s no such thing as a fair hearing in Washington, D.C.,” Kelleher says. “You attack Tim Geithner because you want to take a shot at the president. You attack Tim Geithner because you want to pretend that you’re not on the side of Wall Street, when you really are. Watch the Wall Street money. Don’t watch the Wall Street lips, watch their wallets.”