In Part 1 this week, Joe and Pete discuss efforts by UK Prime Minister Gordon Brown to hold the taxpayers of Iceland responsible for the poor investments made by the private Icelandic bank, Landesbankinn (Icesave in the UK and Netherlands.)
In Part 2, Joe asserts that Tim Geithner did not represent the interests of the American taxpayer in his handling of the AIG bailout when he was head of the New York branch of the Fed in September 2008.
One problem: the Fed is neither fish nor fowl; not entirely private and certainly not entirely public.
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