The Treasury Secretary of the United States has a problem related to the financial crisis. His $1.6 million home in Larchmont, where he lived with his family while he ran the New York Federal Reserve, went up for sale when he relocated to Washington this year to work in the Obama administration. According to his realtor, “they priced it way too high” at first. Even though they purchased the home in 2004 when the bubble was building, the Geithner family is still trying to make money off of it. Why this is funny is pretty straightforward, but if you want to have The Daily Show and a legendary Yale economist walk you through it, take a few minutes to enjoy this clip from last night. Best part: when Robert Shiller, creator of the Case-Shiller home-price indices, suggests “a piece of accent furniture.”
