Comments on: Geithner’s faulty apologia

By: Fielding Mellish

Fielding Mellish — Fri, 29 Jan 2010 08:06:54 +0000

It’s one thing to make a boneheaded decision. It’s another to repeatedly lie about it under oath. Time for Beavis to resign.

By: mclift

mclift — Fri, 29 Jan 2010 05:39:19 +0000

Counterparties 100% on CDS’

Why?!!!

Interesting Parody and unexpected explanation of CDS’ using recent NBA controversy with Gilbert Arenas.
Credit Default Swaps Gambling and Guns in the NBA:
http://www.politiwit.com/2010/01/credit- default-swaps-gambling-and-guns.html

By: Lim Boon Chuan

Lim Boon Chuan — Fri, 29 Jan 2010 02:29:04 +0000

This is just pure politics, I don’t want to read deep into all these.

By: The Bell

The Bell — Fri, 29 Jan 2010 00:24:01 +0000

If Geithner and the Congressional mainstream had any real muscles, and not merely the white-collar gangster variety, they’d be a gigantic hit on WWE where they could pretend to wrestle over something they’re only ever pretending to take seriously.

As it is, they’d all look much better in lycra behind bars.

By: bgreen

bgreen — Thu, 28 Jan 2010 18:28:48 +0000

well said. geithner is either incompetent or in cahoots, either is grounds for dismissal. sadly if he goes he will be on the board of one of the banks and can only benefit from firing (think of the fees he will charge)

also dont forget GS held $7bn+ of collateral from AIG due to margin calls on cds’s. as they were complicit in engineering the failure of aig it would have been hard to hold on to that money post bankruptcy. so aig to gs hand out = $20bn.

By: million

million — Thu, 28 Jan 2010 14:53:36 +0000

does anybody know someone at Government Sachs? are they in denial about their taxpayer-funded welfare status, or is it all just a matter of gettin’ theirs?

By: nick gogerty

nick gogerty — Thu, 28 Jan 2010 13:54:12 +0000

Giethners lack of imagination in a settlement is truly appalling.

In regards to the legislators, I watched the monoline insurers testimony from the front row sitting next to a jaded (correctly) WSJ correspondant. The ineptitude of the legislative class was embarrassing and showed that specialists should have been brought in and a real committee established.

The mismatch of power and skill on display was disturbing. Spitzer testified that morning supporting a scared looking Dinallo. It was later revealed, spitzer was being serviced in a hotel room as client #9 the evening before.

In retrospect the full media/money/political circus was on display in full glory. It appears everyone involved in Washington gets screwed one way or another.

My recommendation. If one is in washington, go attend a senate hearing, any hearing. It is free and highly educational.