As regular readers know, I have long thought that Timothy Geithner is in over his head as Treasury Secretary. So, it stands to reason that many people continue to listen carefully to what he says, this time at the opening of the new HBO film based on Andrew Ross Sorkin's book about the most recent financial crisis, Too Big to Fail. "You can't prevent people from making mistakes," observed Geithner philosophically. "Taking too much risk and making stupid mistakes may not be a crime." Yeah, right. Try to persuade Jeff Skilling of that. The reality is that there isn't much difference between the way in which Geithner and Skilling reacted to their respective crisis. Yet one remains in one of the most powerful positions in government, while the other wastes away in a prison cell. There is simply no rational basis for the disparate treatment of these two men.
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