There’s been a lot of buzz about Tim Geithner’s interview on CNBC this Friday, and the point where Steve LIesman asked him about arrests on Wall Street, and whether the protesters had a legitimate grievance that there haven’t been more criminal crackdowns post-crisis.
POLITICO clipped the relevant bit
Here’s the key line:
“You’ve seen very, very dramatic enforcement actions already by the enforcement authorities across the U.S. government, and I’m sure you’re going to see more to come. You should stay tuned for that.”
While some might read this as “more dramatic enforcement”, David Dayen at FireDogLake argues that if Tim Geithner thinks that we’ve already seen “very, very dramatic enforcement actions” then he’s already starting from a pretty different premise than the protesters, and so “more to come” may not mean very much. What’s more, he’s not involved in this kind of stuff, and not really an authority.
Bottom line: We probably haven’t seen the last of the legal action, but it’d be surprising to see anything real widespread or big.