The Word ‘Hypocrisy’ Doesn’t Do It Justice

Jim Geraghty

Back in July, the Washington Post revealed how the private-equity firm of Tim Geithner — Treasury secretary during the Obama administration — profited from unsolicited high-interest loans that many would characterize as “predatory.”

Mass-mailing checks to strangers might seem like risky business, but Mariner Finance occupies a fertile niche in the U.S. economy. The company enables some of the nation’s wealthiest investors and investment funds to make money offering high-interest loans to cash-strapped Americans.

Mariner Finance is owned and managed by a $11.2 billion private equity fund controlled by Warburg Pincus, a storied New York firm. The president of Warburg Pincus is Timothy F. Geithner, who, as treasury secretary in the Obama administration, condemned predatory lenders.

Since the revelation of Mariner ... Read More

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