Quick. Look over there. Now over there. Just don't look here.

[Jakes Progress]

It seems Timmy believes in paying it forward.

Blowing a Hole in Dodd-Frank

Treasury Secretary Timothy Geithner is widely expected to exempt currency derivatives from coverage. But the Fed spent trillions to prop up that market in 2008.

Treasury Secretary Timothy Geithner is close to a decision to exempt the $4 trillion-a-day foreign-currency market from key provisions of the Dodd-Frank Act requiring greater transparency in the trading of derivatives. In the horse-trading over the final conference version of that legislation last year, both Geithner and financial-industry executives lobbied extensively to give the Treasury secretary the right to create this loophole. As the practical reach of Dodd-Frank is defined by the executive branch, this will be the first major decision to signal whether regulators will act to strengthen or weaken the reforms.

http://prospect.org/cs/articles?article=blowing_a_hole_in_doddfrank

While we are watching Japan and Libya, the man behind the curtains is making plans.

I know, i know. We'll get posts about how this is just a rumor, how you can't trust - uh anybody. But the time to protest and to stop something like this is before it happens. Once it's done, it's done. And so are we.