Guest Post: More Spin And Geithner Gobbledygook

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Wed, 03/30/2011 - 15:13 | 1118365 Duuude
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Wed, 03/30/2011 - 15:36 | 1118464 Cheyenne
Cheyenne's picture

I presume you been from Bloombergs FOIA case. I thought C.J. Preska's order said five (5) days to cough up. That would've been yesterday. But then I got high and furthermore intoxicated and must have hallucinated an article saying the Fed had 14 days.

I practiced in federal court a long time and don't recall any shenanigans like this one.

I wouldn't hold your breath at this point.

Wed, 03/30/2011 - 15:15 | 1118372 FunkyMonkeyBoy
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USA = The worlds biggest banana republic. Go team.

Wed, 03/30/2011 - 15:18 | 1118393 Long-John-Silver
Long-John-Silver's picture

No. The worlds biggest banana Oligarchy.

Wed, 03/30/2011 - 15:29 | 1118433 economessed
economessed's picture

......fruit-flavored plutocracy?

Wed, 03/30/2011 - 22:39 | 1120047 chindit13
chindit13's picture

Correction:  (o)Bamana Republic

Wed, 03/30/2011 - 15:15 | 1118376 camaro68ss
camaro68ss's picture

Someone needs to make a movie of all this crap

Wed, 03/30/2011 - 15:21 | 1118399 TIMMAYYY
TIMMAYYY's picture

maybe they can get this guy to play Bernanke

Wed, 03/30/2011 - 16:20 | 1118674 Cleanclog
Cleanclog's picture

Saw Inside Job again last night.  Charles Ferguson (writer and director) spoke afterward of his ongoing troubles with the financial system and American political influences.

Highly recommend you see this documentary.  

Then maybe we should get a targeted twitter etc campaign going ala the recent success by a Dutch movement to clawback bonuses of ING banksters (they waived their awards last week- much smaller than NY bankster bonuses).  Parliament has since put a 100% tax on bonuses given by firms that received taxpayer bailout funds, retroactive to 2008.

Wed, 03/30/2011 - 15:30 | 1118429 Dr. Engali
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Make a movie? This is even more unbelievable than any of Arnold's movies. Maybe that's how they are able to get away with it.

Wed, 03/30/2011 - 15:56 | 1118534 Pepe
Pepe's picture

We should produce a new series of "Cops" and go chase the real criminals for a change

Wed, 03/30/2011 - 16:39 | 1118767 Al Gorerhythm
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Thomas Jefferson's on tape right now, looking grim and forlorn. He put the tape together long ago, placing it in the hands of some trusted patriots, with instructions that it should only be played in an emergency. 

It started:

"My darlings. If you are watching this , it's because our Republic is dead."

It's playing on every TV in America on continuous loop. 

You have to have a decoder to view it though.

Wed, 03/30/2011 - 15:17 | 1118380 TIMMAYYY
TIMMAYYY's picture

ooo, a game of musical chairs, how wonderful.

I cant wait to see who loses...everyones money.

wtf, when are we gonna get a chance to bitch slap these fools!

Wed, 03/30/2011 - 15:19 | 1118388 Drag Racer
Drag Racer's picture

Which tells us something about how weak and shady the banking system remains and how strong the Treasury, Federal Reserve, Regulatory and Congressional spin to the contrary is.

And this is news to anyone???


Here is some news. US F15 goes down in Libya and Marines shoot at and injure 8 friendly civilians in rescue. US denies anyone opened fire.

Wed, 03/30/2011 - 15:19 | 1118394 AldoHux_IV
AldoHux_IV's picture

Fuck Tim Geithner and the horse he rode in on too.

Wed, 03/30/2011 - 16:18 | 1118666 stephysat28
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RIGHT ON! lmfao

Wed, 03/30/2011 - 16:19 | 1118671 Pepe
Pepe's picture

I spare the horse

Wed, 03/30/2011 - 16:30 | 1118715 Carl Spackler
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Which reminds me to ask...


Is Timmy Geithner going to pay his taxes this year ? 

Or is he going to shirk that responsibility and call it "an honest mistake"?



Wed, 03/30/2011 - 16:53 | 1118819 Al Gorerhythm
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Wouldn't that be just a little extreme? Couldn't we just hang the weasel instead and just let the horse go? 

Wed, 03/30/2011 - 22:39 | 1120053 chindit13
chindit13's picture

As a dues paying member of PETA I take exception to the latter part of your rant.

As a dues paying member of the human race, I'm perfectly comfortable with the first part.

Wed, 03/30/2011 - 15:18 | 1118395 SilverFiend
SilverFiend's picture

Introduce your local Chase branch to fire.

Wed, 03/30/2011 - 15:28 | 1118426 earnyermoney
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Mr. McVeigh was ahead of his time.

Wed, 03/30/2011 - 15:19 | 1118401 MarketTruth
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"In the absence of a gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value. If there were, the government would have to make its holding illegal, as was done in the case of gold. If everyone decided, for example, to convert all his bank deposits to silver or copper or any other good and thereafter decline to accept checks as payment for goods, bank deposits would lose their purchasing power and government-created bank credit would be worthless as claims on goods. The financial policy of the welfare state requires that there be no way for the owners of wealth to be able to protect themselves.

This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard."

The above was said by Alan Greenspan, 'Gold and Economic Freedom' in 1966.


"Given the very high level of reserve balances currently in the banking system, the Federal Reserve has ample time to consider the best long-run framework for policy implementation. The Federal Reserve believes it is possible that, ultimately, its operating framework will allow the elimination of minimum reserve requirements, which impose costs and distortions on the banking system" -- Federal Reserve February 10, 2010

Wed, 03/30/2011 - 16:26 | 1118702 The German Chairman
The German Chairman's picture

this is just unbelievable! Thanks for the post. These opportunistic bastards.

Wed, 03/30/2011 - 16:57 | 1118849 LawsofPhysics
LawsofPhysics's picture

Great post,  lawyers guns and money, what is one honest person to do?

Wed, 03/30/2011 - 15:21 | 1118402 WALLST8MY8BALL
WALLST8MY8BALL's picture

Can we use Super Glue to stop the spin and to keep down the Geithner Gobbledygook?

Wed, 03/30/2011 - 15:22 | 1118412 buzzsaw99
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turbo timmy meh

Wed, 03/30/2011 - 16:55 | 1118832 Al Gorerhythm
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turbo timmeh

Wed, 03/30/2011 - 15:30 | 1118435 TradingJoe
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Watching Marc Faber on Bl(D)oomBerg, hilarious! Calls US Economy a "bad" emerging market hehehe! US Economy out of control already, QE3 coming but The Benster wants a "correction" to "justify" infinitum! Must watch!

Wed, 03/30/2011 - 15:48 | 1118508 Urban Redneck
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I have to disagree with Faber on that one- I work in "bad" emerging and undeveloped economies- and I would't touch the US.

Wed, 03/30/2011 - 15:31 | 1118440 GOSPLAN HERO
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"ZeroHedge is a cult of bunker dwelling dimwits. That don't let you post there very long if you have anything positive to say. The moronic cult leader hates when anybody posts something to negate his often sensational or flat out fraudulent "news" stories."

-- HWagner, A MarketWatch Dimwit

Wed, 03/30/2011 - 15:31 | 1118448 nobusiness
nobusiness's picture

Does anyone in the world not use PCLN for travel?  That stock is unstoppable.

Wed, 03/30/2011 - 22:42 | 1120061 chindit13
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Apparently NASA is using PCLN for its Mission to Mars.  Hence the stock's escape velocity.

Wed, 03/30/2011 - 15:34 | 1118454 lesterbegood
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Apparently Geithner learned to speak gobbeledygook from Al Greenspan...

Wed, 03/30/2011 - 15:38 | 1118473 Sudden Debt
Sudden Debt's picture

and we all know to who the FED answers... JPM & GS...


Wed, 03/30/2011 - 15:37 | 1118474 RobotTrader
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Veritable meltup into the bell.

Must be quarter end tape painting.

100% success rate.

Wed, 03/30/2011 - 15:49 | 1118515 nobusiness
nobusiness's picture

Looks like they finally ran out of paint

Wed, 03/30/2011 - 15:56 | 1118533 nobusiness
nobusiness's picture

Fed found some more green paint in the utility closet.


Resume BTFD

Wed, 03/30/2011 - 15:41 | 1118483 Fernley Girl
Fernley Girl's picture

Anyone remember this?

I've been waiting for some ginormous SHTF headlines. Anyone read anything?

Wed, 03/30/2011 - 15:45 | 1118496 nobusiness
nobusiness's picture

25000 pages to be released tomorrow (Thursday)

Wed, 03/30/2011 - 15:48 | 1118514 Duuude
Duuude's picture


25000 pages...following tha Squids Sigtarp playbook...





Wed, 03/30/2011 - 15:59 | 1118546 Fernley Girl
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Wed, 03/30/2011 - 15:54 | 1118527 nobusiness
nobusiness's picture

Any of the statements made today by Hoenig would have tanked the market in the 90's.

Today new highs

Nuclear disaster would have caused new lows.

Today no effect.

Wed, 03/30/2011 - 15:54 | 1118528 Catullus
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If banks retained risks for bad loans, does that mean they'd actually have to track the loans they've made? "uh, all these mortgages have the same social security number and 'yes please' under signator sex." don't worry, the bank now has "skin in the game". Hahaha.

Wed, 03/30/2011 - 19:35 | 1119468 Kickaha
Kickaha's picture

There is some reputable anecdotal evidence that when the flow of new mortgages began to dry up, those wonderful folks in the MBS industry simple bought some credit default protection and then sold clone offerings backed by the same set of underlying mortgages, over and over again.  The beast had to be fed.

This was sort of a fractional MBS banking system.  Get one set of sliced and diced mortgages and sell a dozen rounds of MBS securities.

People who fight the Motion to Lift the Automatic Stay in bankruptcy court often find three or four entities showing up claiming that they own the right to foreclose on the underlying mortgage after MERS is kicked out of the case.

Retaining the loan and all of the risk would prevent this sort of opportunity for the sort of obscene profits that only fraud can provide.

Wed, 03/30/2011 - 16:19 | 1118661 PulauHantu29
PulauHantu29's picture

Timmy has been very quiet recently. I want to see his new haircut but I hear he is hanging out with Charlie Sheen....who knows?

Wed, 03/30/2011 - 17:25 | 1118967 citta vritti
citta vritti's picture

For what it's worth, SIGTARP Barofsky used NYT's op-ed page to pen a sad recapitulation farewell of how the banks turned TARP into just another day at the office. I guess he rightly concluded that WSJ and FT just weren't interested in publicizing the truth about their major advertisers. 

Meanwhile over at the Financial Times, Greenspan removed his prominent proboscis long enough from brown nose truffle hunting to snort a few derisive comments about the hints of regulation wafting bankward from Dodd-Frank. He's probably right, so long as the other part of the equation were true, that when they screw up, it's not TBTF, but Bob Marley: "The harder they come, the harder they fall."

Silver bullets and wooden stakes don't seem to be enough for that guy -- I guess they cost too much. 

Wed, 03/30/2011 - 17:52 | 1119069 slewie the pi-rat
slewie the pi-rat's picture

t.y., nomi.

1st, "mark to myth."

then, have the goobermint & FED start up about how we don't wanna risk weakening their balance sheets, here. 

one more domino isn't there?  how "we"'ll be at a competitive disandvantage, globally, by "forcing" these fuking criminals to do pretty much of anything they didn't dream up, themselves.

Wed, 03/30/2011 - 19:05 | 1119371 Ich bin ein whatever
Ich bin ein whatever's picture

"It is time to restore responsibility and accountability to our financial system."

How about he start it off by resigning, and he can take Bernanke with him.

Thu, 03/31/2011 - 02:06 | 1120471 Bansters-in-my-...
Bansters-in-my- feces's picture

I would love to see a big Gorilla fuck Giethner up the ass for an half hour or so and then face fuck him hard...

The SEC would even buy tickets.

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