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Geithner On Picking Morgan Stanley For Citi Underwriter: "That's Not A Decision I Can Speak To"
When asked by Maria Bartiromo on why Morgan Stanley was picked to sell the Tsy's Citi stake, Geithner replies: "That's not a decision i can speak to. We have a good team of people who looked at the competition carefully and made a good judgment." Is Blankfein officially isolated by the administration now? We wonder when Goldman will look at the market carefully and decide to make the good judgment it is time to buy (i.e., for Goldman's prop desk to sell).
Also, on whether the UST will be selling its AIG stake (Goldman's ears perking up here): response meanders [thank god Paulson is not trying to avoid the topic here], but no firm committment.
Lastly, Geithner once again confuses the market with the economy.
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the vampire squid does not tolerate this kind of insubordination. Unfortunately, at this point, the people that will suffer the most when GS crashes the market are the little guys.
As always. But they do God's work, so that must be what God wants, right?
Is GS going to bitch slap the American economy and make Obama look like Tina Turner so that Blankfein can show him who is really the bitch?
Just curious how this works. Who's pee pee is bigger?
+1000
One question I'm not seeing asked is this. If Citi is such a great company, ready to delight even the most pessimistic among us with never ending share price increases, why is the Treasury selling now? I mean, if the USG exchanged the debt at $3 and change, why not wait until it hits $10 or $30 before selling? The USG is a silent partner right. This is common equity if I remember correctly. Isn't this a great investment?
All I heard all morning on CNBC was the $8 billion the taxpayer was making on Citi by selling at a dollar per share higher. What gives? Hold the shares until it hits one hundred if Citi is the next great pick of the decade. Something stinks here and it ain't just CNBC.
I think Janis Joplin foresaw the future by naming her band Big Brother and the Holding Company. Hmmmm. Holding Company to be C or BAC? Hmmmm.
Because Citigroup is telling the government that the fact that it owns so much of it is hurting Citi's business. If the government divests, then it will be able to make even more money.
Yay! Hurrah! More bonuses for unworthy banksters!
Exactly my thoughts. Why sell? Is it out of the goodness of their (USG) heart to share these valuable shares with the eager buyers? LMAO!
Another thing which is never seriously addressed is the fact the market cap is now back up to a staggering $120 Billion!
Nearly everyone seems to be blinded by the "low" share price, thinking it's "down to $4-ish" from it's Dec. 2006 high of $57. But lets talk about Market Cap. The all time high was $310 Billion, when Chuck Prince and his fellow gang of crooks were "still dancing"........
Lets get real here! With all the massive dillution, the stock is actually trading down only 59% from it's all time highs! Yeah, that's a haircut, but that's what dillution does. It's not the nearly 93% the bulls like to tell you, not based on the price that matters (MARKET CAP!).....
To be back at all time highs (Market cap) - the stock would only need to hit $10.78! That's a far cry from $57 the feeble brained idiots buying this garbage think the old high seems to be. In reality, the $4.18 closing price yesterday (Monday March 29th) is the equivalent of $21.88 per share.
So, lets put it all in perspective and cut the BS about C being cheap. It's fundamentally a ZERO and any logical person with any understanding of simple math UNDERSTANDS THIS. C should certainly trade far closer to ZERO there than where it is, but dreams (delusional fantasies) die hard. People like the lottery, so this is just another scam to try to game......
No, Lord Blankfiend is not isolated. How many times must I repeat that Mack and Gorman at Morgan Stanley and Lord Blankfiend, and Jamie Dimon are all members of the same Tribe? MS/JPM/Goldman Sucks are one entitty. It's just for appearances sake that they are poseurs to fool all of the people all of the time. N'est ce pas?
"That's not a decision i can speak to. We have a good team of people who looked at the competition carefully and made a good judgment."
Hmmm, Tim, are you saying this "good team" which evaluated the highest profile transaction in Treasury's recent history didn't fill you in on their decision? Weak. Why didn't you just make up some more plausible bullshit answer like "there is no legal basis for me to discuss the sale at this time"?
I think Tim is saying that he lobbied for a different decision and has no comment on the one that was made.
Just like he didn't know anything about the AIG/TBTF bailout. The guy is a professional liar.
TTTGeithner:
I didn't do it.
nobody saw me do it.
you can't prove anything.
exactly. first they look into everything "carefully", then they never seem to "recall" anything.
Hello!
Nice Silver Rally!! Only the beginning, of that I am sure.
I was going through some files and, though it is slightly off post, I had to share this with all of you.
Please download and read---then pass along!!
Got to love the transparency....good job turbo.
http://www.mediafire.com/?zczywgtmmgz
This means you TD! You will love it, I assure you.
sorry 4 double post mozilla probs
That is just the NSA monitoring your subversive activity...
Geithner missed his calling in politics.... oh wait!
Geithner to Goldman:
"Come on guys, we have to pick MS. After all, we did GIVE you $13 Bn and made it look like it was all AIG's fault, didn't we?"
is Geithner responsible for ANYTHING that goes on in his office? That little shit behaves as if deflecting responsibility IS is full-time responsibility.
P.S. I would have picked on him bigtime in elementary school.
I think a lot of kids including a couple of girls did pick on Timmay G. in grade school... It is the reason he is the way he is...
PTS Syndrome
From bullying the scrawny with the frizzy hair who would not own up to any of his crap...
"That little shit behaves as if deflecting responsibility IS is full-time responsibility" It is. They picked the perfect weasle for the job. He certainly is not running the Dept. of Treasury.
Would someone please pump this asshole with a 15 stack of 9's??????
Well, couldn't he hold up a little doll of Bernanke and shake it and say "Look at the Ben doll! look at the Ben doll!" I might feel better then.
"Look at the Ben doll"
Like Jamie and Lloyd do at FRBNY meetings to bust up the entire conference room?
Another minor distraction engineered by the new world order Bankstas. What happens when anyone, even ATT, speaks out about the New World Order's health care plan? Feel the wrath of a Congressional Committee.
provide... any documents, including e-mail
messages, sent to or prepared or reviewed by senior company officials related to the projected impact of health care reform on AT&T
http://energycommerce.house.gov/Press_111/20100326/Stephenson.Letter.pdf
A view from Europe: I read with pleasure
that Summers is about to leave, a.k.a Bam
showed him the door. I see the same destiny
for Tiny Tim: Mish and Karl Denninger have
argued repeatedly that this guy should
be sued for fraud, forging bonds and perjury.
The tiny man is a liability for any effort
to win the mid-term elections, but he is not
stupid, he's worked and the system and its
tax report and walked the walk.The only
safe place for him is GS, after all they owe
him. So MS to underwrite an unsolvent bank
is the perfect Trojan horse strategy
Send Geithner to prison, maybe then he'll "all of the sudden remember" what he should speak to.
That shifty little geeky professional liar is shielded by this professionally fraudulent administration.
Send Obama to prison too. We don't need spineless people in office during a crisis.
REPUTATIONAL DISCOUNT:
http://williambanzai7.blogspot.com/2010/03/goldman-bad-hair-day.html
This must explain GS's 2 embarrassing losing trades on the Euro. No more "enhanced" knowledge
As a follow up from my previous post, a must-read
"the words of William C. Black on Turbotax Timmie:
http://www.pbs.org/moyers/journal/04032009/transcript1.html
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