You could not make this one up. Forget Zoe Baird (a Clinton AG nominee who was dropped because she had employed an "undocumented" nanny).
Mr. Timothy Geithner has been revealed to be a tax cheat of the first order. The Times hates to point it out, but has to spit it out, probably in return for a scoop. After an IRS audit showed that he underpaid his taxes by up to $17K for his 2003/4 returns, it turns out that the same "mistake" causing those returns to be a wee bit short were also present in 2001 and 2002. (You really can't make this up.)
When were the 2001-2 errors found? Last year, when Mr. Obama's "vetters" found the problem and "brought it to Mr. Geithner's attention", after which he paid tax and interest of $25,970.
So Mr. Obama has sat on this knowledge for 2 months and could not find anyone else in the entire US of A to be head of the Treasury Department. Which is in charge of the IRS, one might recall. So the Cabinet member in charge of the IRS is a tax cheat and this is just fine with Mr. Obama.
Recently, my wife did her part to combat the recession by giving the girls down the street some work making her nails gleam and glisten. One of those gals was Russian. She exclaimed with some emotion that in Russia, they knew the higher-ups stole, but they did not expect the same out of America. Her eyes are now open. And so are ours.
What does this have to do with markets and the economy?
Everything.
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