Obama says America can help Spain's Banks.

Does anyone know where I can send Tim Geithner a copy of my book, A Basic Guide to Finances." I understand he is in Spain.


According to knowledgeable sources, Obama has sent Tim Geithner to help out Spain's banks. The sources say that "U.S. Treasury Secretary Timothy F. Geithner and Spain’s deputy prime minister, Soraya Saenz de Santamaria, met to discuss Spain’s plans to bolster banking system. The Pair discussed progress Spain made on fiscal, structural reforms, Spanish government's plans to strengthen financial sector and support recovery and job creation, and broader challenges facing Europe, global economy...". 


Never fear for Geithner is here.


The real question in my mind is why, with all the unsolved financial problems in America, is Obama worried about Spain's banks. I understand the world connected theory, but that is too simplistic an explanation for my investigative mind. Although I have no inside supporting evidence, my notion is that American banks have loaned Spain's banks a pot full of money. Why? So American banks could  capitalize on the high Spanish interest rates with money borrowed from the treasury at spartan interest rates. American banks have no doubt, as usual, leveraged these loans at more than 10 to 1. As Steve Martin said in The Jerk, "It's a profit thing." Ergo, Geithner has to get involved to bail out American banks. But wait? Does Geithner know how to do this? Does he have the experience? Has he been successful? Do not be surprised if the name Goldman Sachs emerges somewhere in the flurry. 


Why is Geithner involved? Because Obama does not want another financial crisis to start before next December.


Follow Me.