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Live Webcast Of AIG Hearing, And Complete Witness Testimonies
Readers seeking a live webcast (interrupted by an occasional Goldman Sachs commercial) of the Committee on Oversight and Government Default can find it at the Committee's website here.
The link also includes the full schedule and opening statements from all participants.
As a reminder, here is the lineup for today's grilling:
Panel I
The Honorable Timothy F. Geithner
Secretary
United States Treasury Department
Mr. Henry "Hank" Paulson
Former Secretary
United States Department of Treasury
Panel II
Mr. Neil Barofsky
Special Inspector General
Troubled Asset Relief Program
Mr. Thomas C. Baxter
Executive Vice President and General Counsel
Federal Reserve Bank of New York
Mr. Elias Habayeb
Former Senior Vice President and Chief Financial Officer - Financial Services Division
American International Group, Inc.
Mr. Stephan Friedman
Former Chairman
Federal Reserve Bank of New York
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Paulson: "I dont recall"
lol that must be a yes. Try this one. " I have no recollection..Senator"
It's basically a waste of time. The financial establishment party line is that the world would've exploded had AIG not been bailed out.
Since we can't pull a Superman and fly around the planet really fast in order to turn back the clock, it's impossible to prove them wrong.
PAUL KANJORSKI REWRITING HISTORY AND LYING
"The New York State Insurance Commissioner approved a transfer of $30billion from insurance subsidiaries to AIGFP...and if AIGFP failed the insurance companies would fail."
The NY State Ins. Comm. did not approve any such thing, and if they had, it would have been illegal.
More HOCUS POCUS scare tactics.
Do you realize how little representation we have? How little recourse from violations?
Do you realize how less representation we will have after the recent supreme court decision?
We are very screwed.
Yes we are very, very screwed - BOHICA! At least I don't have any kids to lay this crap on.
It’s really just a continuation of the MO that has gained so much favor in recent years. Be Afraid – Be VERY Afraid. Had we not done what we did – things would have been so much worse. “Don’t Let the Next Smoking Gun be a Mushroom Cloud” mentality. Clever tactic, since it places the burden of the challenger to prove the un provable. Hopefully one of these days, someone in Congress will have the Balls to stand up and say – well let’s just let it play out and see if it really brings about the end of the world. This shit is getting Really Old. In the meantime I guess we will continue to be force to listen to the like of Paulson and Geithner talk in circles and say Absolutely NOTHING.
What's the deal with the plastic G-Force wrist watches? Geitner and Paulson are both sporting them. Who do they think they are kidding!?
RED PHONE TO CNBC>>>PULL PAULSON, PUT ON TABLET.
Well at least we now know the Fed just printed all the money it needed for this. Paulson confirmed not a cent was taken from Fed member banks. A loan from the Fed to AIG in which the Fed did not use it's own resources. That is spending without Congressional procurement right? Is that legal?
What is even more revolting than neither Geithner or Paulson answering the questions – is the reverence these chickenshits give to their “Schedules”. Oh please Mr. Paulson, will you please give us 5 more minutes of your time to answer our questions? I know we cut Geithner short so we could work around Your Schedule!! Fuck That – why don’t they have the Balls to say you will be done when we tell you that you are done – PERIOD!! You fucking gave away Hundreds of billions of Tax Payer Dollars to your buddies – but you don’t have time to answer any questions about WHY? What A Disgrace!
They have to ask for the same reasons a plantation worker has to ask the plantation owner if he can stop for water...b/c THEIR OWNED...BOUGHT AND PAID FOR...SIGN, SEALERD, AND DELIVERED...could it be any more clear?
It is evident an entire day needs to be delegated to these hearings for each of them along with Booyah Benny Bucks. And if any of the Congressman wish to get involved they need coaching ( I reco few confrence calls to Tyler) in order to point these blind bastards in the correct direction.
Also 5 minutes is a joke
Loving this hassling of Paulson.
...aaaand it's over.
"The Fed obviously can print money"
clip from today's testimony by Hank
http://bit.ly/bhmWxF
"I promised 8 minutes, it's now been 10 minutes." What a little bitch.
SHOOT ME NOW - OH THANK YOU YOUR HEINESS, MASTER PAULSON, YOU WERE SO KIND TO ALLOW FOR AN EXTRA 2 MINUTES OF YOUR OH-SO-IMPORTANT LIFE TO STAY AND BULLSHIT US EVEN LONGER....WE ARE SO GRACED WITH YOUR PRESENCE, CAN WE GET YOU A COFFEE OR A MAYBE $1 BILLION IN NEWLY MINTED CASH FOR YOUR PRIVATE JET HOME???? ARE ALL POLITICIANS RETARDED???? DO THEY NOT KNOW THAT PAULSON IS ACCOUNTABLE TO THEM AND NOT THE OTHER WAY AROUND??? GOD DAMNIT!!!!!!!
Humble people are seldom guilty of treason...
Plainly, I missed that day in Civics when we learned how spending bills can originate in the Treasury.
Plainly, I missed that day in Civics when we learned how spending bills can originate in the Treasury.
Nothing will change until they extradite cassano from london. Handcuffed
They need to get Dinallo in here--
he was NY State Insurance Commissioner at the time.
let's see what he says about the need for this bailout of GS via AIG
I believe we are going to Have to Take Back Our Country From The Thieves..
pitchfork or musket
If I hear another " ... since the Great Depression" reference again, I think I'll puke.
In about 5 months they will not longer need a reference. It is my suggestion that people brush up on their vaudeville talent
say what you want about Nixon, he knew when he was busted and he was man enough to be shamed. These jerks took so much cash they could eat a pound of dog shit on the pitchers mound at full house yankee stadium wit youtube replays and it'd still be an up day. Sin verguenza, they say down south.
This thing totally sucked. geithner pulled his nuts out of the fire. He should have testified AFTER Barofsky.
This is a total sham and the SOTOU will take all of the oxygeon in the news cycle and the cable news will focus on the acorn/ bugging Landrieu douches.
Baxter says the assets they received have a par value of 62 Billion.
Any thoughts?
Par doesn't mean shit. Too many zeroes.
It sucks to be late to a meeting because of Senate testimony. I guess no excuses are acceptable any more when it comes to tardiness. There goes "I was stuck in traffic", "my flight was delayed", and "my Senate testimony ran longer than expected." Let's hope that hospitalization and death of family members are still acceptable.
It is now official. Nobody was responsible for the AIG decision. WTF!!!!
Yes.Mistakes were made, but not by any of us.We were constrained by the system in place at the time.If we only had complete dictatorial powers, it would have gone much better.We are working on that.
Well – as long as the American people continue to re elect the same incompetent people to go to Washington – nothing is going to change. That is the easy way to fix things – elect competent people to serve, and if they do not – recall them. Otherwise, we can talk all day about an armed revolution – but that ain’t gonna happen, not enough people with the balls who are willing to risk it all for a better tomorrow for their children.
There is nothing to this. There is no fraud. There is no criminality. There is no malfeasance. Move on. Wait, better yet, spend the rest of your lives on this worthless endeavor.
Are you kidding me? This is the biggest fraud committed in the U.S. in history. Its time for a paradigm shift!
The only reason this is a worthless endeavor is because its fixed.
You are a clown.
You should change your name to Ruggero Leoncavallo.
Been noticing your posts. You are a friend of these thieves, eh? Why?
So its either WE ROB YOU Blind or the System Collapsed? I get it ..Abolish the Fed.
Virgil sees the Yankee banksters a coming.. grab my gun son.
does anyone know if the senate is voting on the debt limit today? They're rebroadcasting the motion to nominate Bernanke on CSPAN2, but the debt was up for a vote today....
Don't ya just love how their opening statements all start with "I didn't know... I had nothing to do with... I can't remember..." and then end their statement with "I'll be happy to take any questions. LMFAO!!
when I left the office, Timmy G was saying "I was not involved in these decisions" Two hours later, when I came back, somebody else was saying "I don't know who was behind these decisions." It's good to know we're getting to the bottom of this. The trial attorney in me wants to cry, puke, and put somebody in jail.
UBS offered to take a haircut it because the taxpayer sacrificed so much? Right.
More likely UBS did it to make the other parties look bad.
Paulson looked like he was about to have a coronary, which would have been poetic justice. For all the power that Congress has, they surely portrayed themselves as powerless peons, incapable of extracting any usable truth--or instilling any fear in the criminals they interview.
I wonder what goes through the minds of the students witnessing this fiasco. Their generation will still be paying for this corruption after we are long gone.
I suppose that Obama will be telling us how things are "less bad"---I mean, the tool gave himself a "B+" grade for his first year in office. People in the know would beg to differ.
Question: Why do we have to bail out foreign banks involved in AIG?
Also, Fannie and Freddie MBS foreign holders?
Grinding the US taxpayer into a black hole of misery!
“Oh, say! does that star-spangled banner yet wave
O'er the land of the free and the home of the brave?”
“Gave proof through the night that our flag was still there”
“Their blood has washed out their foul footsteps' pollution”
“O'er the land of the free and the home of the brave”
Wakey wakey eggs and bacey.
I could've swore I saw the top of Obama's head pop up from under the table.
Paulson has the rosy complexion of a healthy young Cherub.
Timmay is ...well, Timmay!
The only congressperson I liked was the Massachusetts democrat, he was asking some real questions.
I missed Ron Paul speaking.
Hope Ron stays healthy since publicly saying the CIA has taken over this country.
-MobBarley
The usual Washington circus: Weasels questioning snakes. A few more high-horses and you might even believe that those on the panel were somehow less aptly interrogated than those testifying. Once the posturing ends, these scum will just as assuredly be endorsing campaign contribution checks from financial lobbyists as they will be try to position themselves as "populists". But there will come a day when public questioning of this kind will serve a more pedalogical purpose. In the place of defiance, there will be confession. And instead of returning to business as usual, there will be a peoples' justice.
Did he just say Geither DID sign off on the 100 cents on the dollar deal with GS?
I guess he didnt get the memo
I heard that.Did you catch the freudian slip when mr. investigate said "protect" then corrected himself by saying investigate?Epic frauds the lot of them.
CNBC has just been transformed into a iPAD infomercial....had to jump to FoxBiz
people should avoid cnbc (mute if you need quotes) and boycott clicking on cramer's the street site...
So, who is the SP going to be following the criminal referrral that is certainly coming from the SIGTARP?
They might as well have MSNBC's Dennis Kneale asking questions.
“Their blood has washed out their foul footsteps' pollution”
“Their blood has washed out their foul footsteps' pollution”
Couldnt they publish the information without cusip numbers and tranches? and still show who the recipients were?
this is so damn painful....let's get it together "both sides" get you best former prosecuters-now-congressmen to do all the questioning.
All the world's a stage,
And all the men and women merely players:
They have their exits and their entrances;
And one man in his time plays many parts,
...
With eyes severe and beard of formal cut,
Full of wise saws and modern instances;
And so he plays his part.
...
BRAVO!! ENCORE ENCORE!!! BRAVO!! HERE HERE!!!!
Freidman's lawyer is sitting behind him thinking this guy is screwing-up on his use of the word "recollection" this guy is vulnerable...
"the potential for conflict was ripe there" - understatement of the hearing
duplicate
Doesn't Mr.Lynch realize the treasury has been purchased by goldman therefore they salt it's hallways...
public service?
good will?
their worried about cusip numbers getting out to the public yet these guys have direct access to financial policies of the country and foreign sovereigns...
goldman people should not be allowed to serve at these institutions for at least 5 years
someone has to put a stop to this nonsense
"The biggest single gift was the AIG rescue. No one has ever provided a good argument for why we did it other than we were bailing out Goldman Sachs."
-Joseph E. Stiglitz Nobel Economics Prize Winner
I was not "directly involved." They're telling the truth. You see, on capitol hill, "directly involved" does not include telephone, fax, email, text or twitter. In fact, "directly invloved" only applies when you are no more than five feet from the other party, standing in the same room and naked. Unless it's your congresional paige. In that case you are never "directly involved
How about 15 mins of questions? What is it now? Five Fuckin Minutes? He obviously had that gamed.
Geithner, Paulson and their respective posses are breathing somewhat of a sigh of relief tonight, as the main stream media puppets and paid off referees award the opening round to the defending champions. Everything went as planned, and the usual tactics employed worked like a charm - the righteous indignation, the human frailty in times of great stress, the selfless commitment of mere humble servants devoted to God and Country before all else, the chief's support for his troops, the abundant disinformation and confusion of facts with lies, the 5 minute limit, the "schedule" of busy great men, the ineptitude of certain questioning congressmen, the groveling of the lap dogs, the pathetic posturing, all leading to inevitable frustration, that creeping sense of utter helplessness, and a measure of despair in knowing the guilty still roam free, with no fear of their victims.
This is how these things can play out. I can only hope that Issa & Co. regard this merely as the opening salvos in a battle to come, as they meticulously unearth and then connect the dots in the days, yes even weeks to come. Hell, if they need any help, we should pitch in. It would not be that hard to encircle this encampment of thieves and then slowly close in, but sessions like today's will not yield the hard evidence that this will take - real work needs to be done, and pieced together and a clear and convincing case for the treason and theft must be made. It may take time and determination, but the key is to not give up. There will be more revelations yet to come.