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Meredith Whitney Called To Testify Before House On Her Muni Call

Tyler Durden's picture




 

According to Charlie Gasparino, the intifada between Meredith Whitney and the rest of the world just got uglier. According to the former CNBCer, the one-time Citi scourge has been called in to testify before the House TARP committee and explain her less than favorable position on munis.

From Dow Jones:

Meredith Whitney has been called to appear as a witness at an upcoming hearing by the U.S. House TARP oversight subcommittee, Fox Business Network's Charles Gasparino reported Thursday.

Gasparino cited sources as saying the financial analyst, whose prediction of potential defaults totaling "hundreds of billions of dollars" is widely blamed for the recent selloff in municipal bonds, has declined the offer to appear at the Feb. 9 hearing.

The Financial Services and Bailouts of Public and Private Programs subcommittee, chaired by Rep. Patrick McHenry, might subpoena Whitney and the report in which she apparently made the prediction, Gasparino said.

Attendees at the hearing will include "experts who disagree with" Whitney's call, according to Gasparino.

We are not sure how this will change the fact that most municipalities are, in a word, insolvent.

Those who are curious to read an abbreviated version of M-Dub's report, can do so here - link.

 

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Thu, 02/03/2011 - 17:25 | 932462 alien-IQ
alien-IQ's picture

So does this make it official that it is now illegal to be bearish?

Thu, 02/03/2011 - 17:27 | 932473 Id fight Gandhi
Id fight Gandhi's picture

That's how it sounds.

Thu, 02/03/2011 - 17:47 | 932569 Village Idiot
Village Idiot's picture

Where's Joe McCarthy when you need him!

Thu, 02/03/2011 - 17:58 | 932628 Haywood Jablowme
Haywood Jablowme's picture

 

Just a matter of time before so-called "financial analysts and financial bloggers" around the USSofA show up in tomorrow's headlines as those "apparently committed suicide."

Let's get this show on the fuckin' road.  I'm ready to shoot a couple of these twat's heads off.  If my blood is spilt, fuck it.  As long as I can take at least 2 down with me, it's on.

 

 

Thu, 02/03/2011 - 18:01 | 932640 PY-129-20
PY-129-20's picture

Yeah! Let 'em come!

Thu, 02/03/2011 - 18:18 | 932705 tickhound
tickhound's picture

ascistfay tatesay... itchezbay!

Thu, 02/03/2011 - 18:22 | 932723 whatz that smell
whatz that smell's picture

ig p nital, nezitchbatches!

Thu, 02/03/2011 - 21:04 | 933224 CU1981
CU1981's picture

WE should all email her to SPEAK the TRUTH !! for our own sakes !!

 

Kill the beast ...

Thu, 02/03/2011 - 21:09 | 933241 hambone
hambone's picture

Too much "truthiness"

Only way to go to jail is to tell the truth...all liars, cheats, thieves are immune so long as they hold protect their overlord brethren.

Thu, 02/03/2011 - 21:10 | 933243 hambone
hambone's picture

Too much "truthiness"

Only way to go to jail is to tell the truth...all liars, cheats, thieves are immune so long as they protect their overlord brethren.

Thu, 02/03/2011 - 21:29 | 933278 Rick64
Rick64's picture

She is a financial Terrorist. National security at risk. Lock her up and send her to Guantanamo.

Thu, 02/03/2011 - 21:40 | 933332 thedrickster
thedrickster's picture

Yo tongue in yo cheek?

Thu, 02/03/2011 - 21:49 | 933363 Turd Ferguson
Turd Ferguson's picture

Where are all the "free speech" and "no censorship" a-holes on this one?

This wreaks of pure, unadulterated political harassment and intimidation.  

Thu, 02/03/2011 - 21:51 | 933371 thedrickster
thedrickster's picture

Methinks Rick was joking...otherwise....

Tahrir square bitchez, I'm channelling inglorious bastards this evening.

Thu, 02/03/2011 - 21:54 | 933386 Rick64
Rick64's picture

Of course I was joking.

Thu, 02/03/2011 - 22:05 | 933402 thedrickster
thedrickster's picture

I know, I know but I really do feel like channelling inglorious bastards this eve.

Is anyone else tired of wasting brain cells, drafting well reasoned logical points of discussion in a fruitless attempt to reason with perpetual adolescents suffering from a terminal case of stockholm syndrome?

Trolling is a far more satisfying and efficient way to confront nazis wherever one finds them.

Thu, 02/03/2011 - 22:26 | 933488 Calmyourself
Calmyourself's picture

You mean leftists?  Does not fit the narrative.. 

Thanks for ATW..

Thu, 02/03/2011 - 22:41 | 933532 the rookie cynic
the rookie cynic's picture

Word on the hill is that a Mr. O'brien will be doing most of the questioning and "re-education." Also, the Capitol is being renamed "The Ministry of Truth." http://therookiecynic.wordpress.com/

Fri, 02/04/2011 - 03:47 | 934008 Amschel
Amschel's picture

I always hated CNBC,and the government goons.But this is damn hilarious.

They went bonkers.CNBC and the Godamn Government.

Fri, 02/04/2011 - 06:43 | 934060 Bob
Bob's picture

Whadya mean?!  She violated, in brazen and public fashion, the Green Shoots Law of the land.

Sounds like treason to me.

Fri, 02/04/2011 - 00:12 | 933754 Bernank Sheeple
Bernank Sheeple's picture

tyler will be called next

Fri, 02/04/2011 - 04:31 | 934016 dondonsurvelo
dondonsurvelo's picture

Move over Martin Armstrong.

Thu, 02/03/2011 - 18:25 | 932737 william the bastard
william the bastard's picture

Bill Torquemada Gross has issued calls for inquisition, the lawgivers obey.

Thu, 02/03/2011 - 22:48 | 933551 aldousd
aldousd's picture

actually, yes. you're right. funny as that is.

Thu, 02/03/2011 - 18:14 | 932692 trav7777
trav7777's picture

in McCarthy's defense, it turned out that a lot of the people he was accusing of being communists did in fact turn out to actually have been communists when the files got released decades later

Thu, 02/03/2011 - 18:26 | 932735 EscapeKey
EscapeKey's picture

Carroll Quigley disagrees. In "Tragedy & Hope", he states McCarthyism pretty much was a complete failure, although of course, that wasn't decades.

Thu, 02/03/2011 - 18:29 | 932754 william the bastard
william the bastard's picture

Before it was a failure it was a success. Ditto Hilter, Tojo, Stalin, Kaiser, Napoleon, Czar Nicholas, Mubarak, Hannibal, PeeWee Herman,  &c, &c, &c.

Thu, 02/03/2011 - 20:03 | 933046 KickIce
KickIce's picture

They all start out for the people, it's not until they gain power that you see them for who they really are.

Thu, 02/03/2011 - 20:55 | 933200 Spastica Rex
Spastica Rex's picture

Pee Wee Herman?

Thu, 02/03/2011 - 21:02 | 933218 KickIce
KickIce's picture

sure, look at some of the stunts he pulled once he got celeb status.

Thu, 02/03/2011 - 22:19 | 933458 jeff montanye
jeff montanye's picture

i like peewee.  i guess (it's only a guess) the "stunts" weren't that new, just that people noticed.  that was new.  that and the overdose of police.  didn't kill him like it did lenny bruce so that's something.  probably doesn't belong on a list with stalin, hitler and napoleon though.

Thu, 02/03/2011 - 22:29 | 933500 Orly
Orly's picture

I couldn't wait for Saturday morning to watch PeeWee talk to the King of Cartoons, Chair-y and the gang.  PeeWee's Big Adventure is still a favorite movie.

"Oh, silly.  There aren't any basements at the Alamo."

Duhnt-duhn-duhhhhhh.

 

Loves it!

Fri, 02/04/2011 - 06:30 | 934054 hardmedicine
hardmedicine's picture

Here I thought I was the only one who got up early on Saturdays to watch Pee Wee... I loved Chairy. 

Thu, 02/03/2011 - 22:29 | 933499 Calmyourself
Calmyourself's picture

Quigley was mostly wrong Trav is mostly right.. State was full of them, probably still is..

Thu, 02/03/2011 - 23:58 | 933734 Village Idiot
Village Idiot's picture

Anyone who justifies the good that McCarthy did in routing out communists as compared to the damage that he and his cronies did to innocents is smoking something.  History has pretty much ruled that the collateral damage wasn't worth it.

 

Fri, 02/04/2011 - 06:48 | 934064 Bob
Bob's picture

Yes, it seems somebody learned a different lesson from that chapter in our nation's illustrious history.

Thu, 02/03/2011 - 18:25 | 932738 hedgeless_horseman
hedgeless_horseman's picture

I love you, man.

Thu, 02/03/2011 - 19:11 | 932900 Eric The Red
Eric The Red's picture

Where can I sign up to be one of McCarthy's former targets?  It's a badge of honor.

Thu, 02/03/2011 - 22:20 | 933464 Mercury
Mercury's picture

Davos.

Fri, 02/04/2011 - 00:03 | 933736 Village Idiot
Village Idiot's picture

"Where can I sign up to be one of McCarthy's former targets?  It's a badge of honor."

 

Especially if you weren't communist and were powerful enough to tell the guy to go pound sand. Talk about abuse of power.  Fuck Joe McCarthy, I spit on his grave. 

 

Thu, 02/03/2011 - 20:47 | 933175 Things that go bump
Things that go bump's picture

I don't think being a communist is or ever was actually illegal in the United States.  How could it be? 

Thu, 02/03/2011 - 22:26 | 933485 jeff montanye
jeff montanye's picture

not nearly as bad then as being a whistleblower today (cf. bradley manning, etc., etc.).  then you just had your career ruined, were a pariah, and were bankrupted by legal expenses.  now they got you in permanent solitary prior to trial and can tell you you're lucky you didn't get on the executive assassination list.  are this country's leaders great or what?

Fri, 02/04/2011 - 00:11 | 933747 Auberon Herbert
Auberon Herbert's picture

It's still illegal to be a communist if you want to (legally) immigrate to the US. Snares a lot of Chinese who joined the party because it was the thing to do to get ahead.

Thu, 02/03/2011 - 22:06 | 933424 New_Meat
New_Meat's picture

cha,

and welcome back

Thu, 02/03/2011 - 23:47 | 933708 essence
essence's picture

Oh no, I won't junk you.
Why, you're merely stating the truth.
Granted Americans apparently "can't handle the truth", but then that's their weakness.. isn't it.

But let me ask this to you all out there

Would the U.S. be any more fucked if the commie gremlins McCarthy led a witch hunt against .... had in fact had an impact.

I mean, all the dark forces that Ike cautioned against in his farewell speech did in fact prevail. The Military/Industrial Complex and Wall St/Big Banks have a strangle hold on the U.S. government now. Fact.
Even standing U.S. Senators have acknowleded that publicly so there's no denying this. And let's not even break up the topic of wall streets nigger ...Obama.

Question:
would .. no, make that COULD ...  the U.S. be anymore fooked now if commies had gained a minor toe hold back in the 50's?

what's worse ... a smign of communism or rampant, taken control facism?

 

 

 

 

Fri, 02/04/2011 - 00:08 | 933745 Village Idiot
Village Idiot's picture

In the words of JW  from FL - Preach, Brother!!

Fri, 02/04/2011 - 06:58 | 934071 Bob
Bob's picture

Sadly, you make a powerful point.  It's ironic that the risks of the decline of our quasi-Capitalist system into lawless neo-feudalism were obvious to the socialists. 

Perhaps that is the real reason it was so desperately important to marginalize and demonize them. 

Will the charge of "socialism" still be an effective defense against reform when 1% of the population owns 95% of world assets?  It shouldn't be long now . . .

Thu, 02/03/2011 - 18:58 | 932856 fragrantdingleberry
fragrantdingleberry's picture

"Mrs. Whitney, are you now or have you ever been a bull?"

Thu, 02/03/2011 - 20:13 | 933071 Dapper Dan
Dapper Dan's picture

You will sinze zee papers old man.  Well what do the say?

Merely that you have not been mistreated.

Cheech and Chong circa 1970

Thu, 02/03/2011 - 20:51 | 933183 Henry Rearden
Henry Rearden's picture

Joe McCarthy is both singing and doing cart wheels right now.  The "red dream" officially died today!

Thu, 02/03/2011 - 17:30 | 932497 Sean7k
Sean7k's picture

Just prohibitively expensive (lawyer, plane fare, hotel, meals...) so some jerk off can ask questions about a report he obviously is incapable of understanding, otherwise he would just read it. Congressmen are just trained dogs.

Thu, 02/03/2011 - 22:27 | 933489 jeff montanye
jeff montanye's picture

that is a slur on trained dogs.

Thu, 02/03/2011 - 17:32 | 932510 gmrpeabody
gmrpeabody's picture

If they subpoena her, I hope it's on TV.

Too funny.

Thu, 02/03/2011 - 18:18 | 932709 Careless Whisper
Careless Whisper's picture

she will rip those idiots a new a hole.

 

Thu, 02/03/2011 - 19:10 | 932897 oogs66
oogs66's picture

She won't rip anyone a new anything. She has no facts! She might be right but she is shooting blindly and not smart enough or informed enough to pull this off. Munis will rally hard that day. Get some people who know details to fight the fight!!

Thu, 02/03/2011 - 19:54 | 933015 sgt_doom
sgt_doom's picture

No facts...riiiiiiggghhhtt.....just all those godawful securitized bonds, public-private partnerships throughout the country, and state and local pension funds absolutely empty thanks to their management by the very same private equity LBO firms which have been pillaging them.

Yup, no facts......

Thu, 02/03/2011 - 20:47 | 933176 oogs66
oogs66's picture

She is on the right track.  Might even be right.  Hell I hope she is.  But she is superficial!  She latched onto this to create noise.  She is not an expert - hell, until this report she couldn't spell municipal.  There are many more credible people.  I've had dinners with her.  I'd say, empty suit, but the bra is nice

Thu, 02/03/2011 - 21:08 | 933236 Rick64
Rick64's picture

 Two years of research by her and a team, and your proof is that you had dinners with her so you know she doesn't know what she is talking about? I think I will go with her call.

Thu, 02/03/2011 - 22:34 | 933511 jeff montanye
jeff montanye's picture

the accusation is that her analysis moved the municipal market to reprice risk.  decolletage rarely does. 

Fri, 02/04/2011 - 00:14 | 933760 Village Idiot
Village Idiot's picture

oogs66
on Thu, 02/03/2011 - 19:47
#933176

"She is on the right track.  Might even be right.  Hell I hope she is.  But she is superficial!  She latched onto this to create noise.  She is not an expert - hell, until this report she couldn't spell municipal.  There are many more credible people.  I've had dinners with her.  I'd say, empty suit, but the bra is nice."

 

Ok, Mr. been on this site for twelve weeks, I'm calling you out.  Offer solid proof that you even know this woman, let alone dine with her.  You will be judged accordingly.

Fri, 02/04/2011 - 02:45 | 933971 Whats that smell
Whats that smell's picture

Tyler needs to start giving IQ tests to gain entry, three days on the front porch is not enough screening any more

Thu, 02/03/2011 - 19:00 | 932862 Rainman
Rainman's picture

She is an enemy to the Ministry of Truth. She and her like will be rounded up, neutralized and minimized. That's just how it works.

Thu, 02/03/2011 - 20:37 | 933036 slewie the pi-rat
slewie the pi-rat's picture

 

mr. peabody:

if they serve her, i'm sure it will be on TV.  no pol in his or her right mind would want to miss those flashbulbs!

the House TARP Committee, what a fine institution! even the crimepuppies on the ethics committee couldn't avoid the smell when they questioned the TARP CEOs under barney frankenfurter's leadership.  ALL the companies had paid so much PAC money to the Committee 'members', that the poor ethics committee had to work overtime to make everything seem sheep-dip ok.  dammit janet, if we're gonna do a time warp:

peabody, let's go wayback, ok?

YouTube - Time Warp (Official Video) from the movie Rocky Horror Picture Show - HD

i never realized this song and dance fit our goobermint so well!  & QE!!  does ZH have a theme song? the dance is so easy, i can almost do it!

darryl issa has the gavel, now.  not to worry, tho, he's enuf of a weiner.  the show WILL go on!

Thu, 02/03/2011 - 22:08 | 933430 slewie the pi-rat
slewie the pi-rat's picture

 

oops, wrong committee.  DI is the oversight comm?

tarp is the sub-committee?

mchenry it is!

that's what i get for trying to read an ORGANIZATION chart!

at my age, i should know better!

Thu, 02/03/2011 - 17:38 | 932529 Sophist Economicus
Sophist Economicus's picture

Nobody expects the TARP inquisition!

Their gonna make her listen to Schumer sing loves songs and then have Barny Frank water-board her by having him talk to her up close and personal

Thu, 02/03/2011 - 17:44 | 932565 gmrpeabody
gmrpeabody's picture

Lecturing of her by Barney Frank! Now that WOULD be rich! Maybe he thinks he can browbeat her into tearful remorse. I would pay for that show.

I get the feeling she can hold her own.

Thu, 02/03/2011 - 17:56 | 932617 Fred Hayek
Fred Hayek's picture

Surprise is our greatest weapon, along with a fanatical devotion to Ben Bernanke--one of our TWO greatest weapons!

Thu, 02/03/2011 - 20:36 | 933148 Id fight Gandhi
Id fight Gandhi's picture

I thought that tarp had a clause in it's three pages it could never be audited or challenged in congress.

Thu, 02/03/2011 - 17:38 | 932537 gold mining ceo...
gold mining ceos are idiots's picture

Nah, that's old news. Clients (mom and pop) of firms like MS are not allowed to short or buy short etfs.) That is fact

Thu, 02/03/2011 - 17:48 | 932578 bunkermeatheadp...
bunkermeatheadprogeny's picture

+1

Thu, 02/03/2011 - 18:23 | 932727 I am a Man I am...
I am a Man I am Forty's picture

who wants to bet she back tracks??  she already has in the stuff I've read post tv

Fri, 02/04/2011 - 00:15 | 933769 Village Idiot
Village Idiot's picture

Will you provide links please.

Thu, 02/03/2011 - 18:31 | 932759 Temporalist
Temporalist's picture

Yea she screamed "Fire!" in a burning theater but they'll claim it was her match.

Thu, 02/03/2011 - 20:02 | 933040 sgt_doom
sgt_doom's picture

I would hope, and sincerely recommend to Ms. Whitney, that she bring along with her a copy of the recent report from the Financial Crisis Inquiry Commission to read to those bozos.

Someone has to........

Thu, 02/03/2011 - 20:23 | 933105 stormsailor
stormsailor's picture

patrick mchenry?  are you kidding.  he is just a little rich kid that has never balanced a book or had a job in his life.

 

his family business has a government contract to cut grass on the interstate.

Thu, 02/03/2011 - 22:00 | 933408 pazmaker
pazmaker's picture

He is not a lawyer that is a good start and he has never voted for a tax increase another good start and he is not for bailing out states or municipalities if you can believe what he says on cspan

Thu, 02/03/2011 - 22:37 | 933515 jeff montanye
jeff montanye's picture

you lost me at "if you can believe what he says".

Thu, 02/03/2011 - 22:59 | 933581 pazmaker
pazmaker's picture

haha  I say that because just about every rep up there speaks with a forked tongue

Thu, 02/03/2011 - 20:52 | 933195 Hedge Jobs
Hedge Jobs's picture

Yep! Just like you cant question the holocaust. No one is alowed to question the chairsatan's veiw of the "recovery". Investigation either strengthens the truth or exposes the lie.

"Recovery deniers" will soon be thrown in jail!

Fri, 02/04/2011 - 00:20 | 933773 Village Idiot
Village Idiot's picture

Question the holocaust, question 9/11, question everything.  That's why we're here.  The truth usually boils to the surface.  Problem is, it's not always the truth you were banking on.

Thu, 02/03/2011 - 21:36 | 933317 Freddie
Freddie's picture

Obama's Thought Police.  But he has more then a few supporters on ZH who listen to NPR. 

Thu, 02/03/2011 - 21:56 | 933393 gloomboomdoom
gloomboomdoom's picture

Here is a junk for hating free speech!

National Public Radio

Thu, 02/03/2011 - 22:29 | 933498 Joeman34
Joeman34's picture

Nice 'straw-man', but it doesn't fly.  Whitney deserves to be called before Congress for her remarks.  Her predictions with respect to the municipal bond market make no sense if you do the math. 

Thu, 02/03/2011 - 22:43 | 933539 jeff montanye
jeff montanye's picture

which you've done.  thanks.

Fri, 02/04/2011 - 00:25 | 933784 Village Idiot
Village Idiot's picture

No shit.  We've got some guy saying he's done the math, another one saying she's backtracking on TV, and of course, there's dinner with the third.  WTF is going on around here?  Put up, or shut up.  No disrespect intended.

Fri, 02/04/2011 - 10:28 | 934546 Joeman34
Joeman34's picture

Wow, does your mommy still wipe your ass for you?!?  Do some research douche bag:

 

http://www.wasmerschroeder.com/uploads/newsfiles/file233.pdf

 

It's not that complicated.  Oh, and don't forget she's close to launching her own rating agency.  Don't believe the hype.

Fri, 02/04/2011 - 11:12 | 934714 Village Idiot
Village Idiot's picture

That's it?  I mean one source for your straw-man refudiation.  Got to do better than that around here, my man.  And mommy ass wiping/douche bag is especially weak.  Take another shot, big guy.

Fri, 02/04/2011 - 12:41 | 935061 Joeman34
Joeman34's picture

See your user name

Fri, 02/04/2011 - 13:49 | 935372 Village Idiot
Village Idiot's picture

good one.

Fri, 02/04/2011 - 12:54 | 935112 Joeman34
Joeman34's picture

Fine, I do some additional work for you...

State Debt to GDP Ratios [Top 5 highest - lowest and select States that seem to be garnering all the headlines] compared to various countries:

Massachusetts   8.3%

Hawaii  8.1%

Connecticut  7.9%

New Jersey  6.7%

New York 5.4%

~~~~~~~~~~~~~~~

California  4.7%

Illinois  3.8%

Nevada  1.9%

~~~~~~~~~~~~~~~~

Japan  178%

UK  75.1%

France 60.8%

USA  53.1%

Spain  46.1%

Not saying there won't be issues in the muni market.  But the cataclysm predicted by Whitney will not happen.  Darn those facts and numbers...

Fri, 02/04/2011 - 13:54 | 935329 Village Idiot
Village Idiot's picture

Thanks for putting up something more than just naked opinion.  MW elicits strong support on this site because she is perceived as on of the few who is out there telling it like it is.  You may be right, but don't be surprised at the fact you are being called out.  And brush up on your name calling.  Cheers. 

 

Fri, 02/04/2011 - 15:24 | 935769 Rick64
Rick64's picture

 Very misleading, is GDP(the market value of all goods and services produced within a certaian time frame) to debt really a relevant way to measure.  I believe debt to revenue would be more relevant, and not debt servicing but total debt including debt obligations.

 I hope she does start her own ratings agency. One that actually does what it supposed to.

Thu, 02/03/2011 - 23:13 | 933624 caconhma
caconhma's picture

It appears that very shortly only government approved "analysts" will be allowed to comment on the state of the US economy and to make predictions. Everybody else will be considered an unpatriotic and Al Qaeda sympathetic individual.

R.I.P. the American Constitution, the Bill of Rights, and the Freedom of Speech.

In just 10 years, America has made a giant step to a totalitarian society.

Fri, 02/04/2011 - 00:11 | 933750 Tangurena
Tangurena's picture

More likely, being bearish will be regulated and called "economic terrorism."

Thu, 02/03/2011 - 17:26 | 932464 NOTW777
NOTW777's picture

meredith -repeat after ben - munis are fine, the recovery is on track, hope and change

Thu, 02/03/2011 - 17:40 | 932542 whatsinaname
whatsinaname's picture

PIMCO having her hauled in so she can say nice things about Munis ?

 

Thu, 02/03/2011 - 22:00 | 933407 LostWages
LostWages's picture

meredith -repeat after ben - munis are fine, the recovery is on track, hope and change

 

"These are not the bonds you've been looking for."

M. "Your Fedi mind tricks won't work on me, O.B.Bernank"

 


Thu, 02/03/2011 - 17:26 | 932467 Id fight Gandhi
Id fight Gandhi's picture

Now she has to go before congress because she sees a muni failure? How normal is this?

Thu, 02/03/2011 - 17:28 | 932479 alien-IQ
alien-IQ's picture

It's the "new normal".

Thu, 02/03/2011 - 17:48 | 932582 redpill
redpill's picture

Message: Do what you're supposed to or you'll be called before the overlords.

Thu, 02/03/2011 - 19:11 | 932902 Alienated Serf
Alienated Serf's picture

i am as cynical as anyone, but its simpler then that.  congress always drags people in to make political points.  look at the whole baseball fiasco, just done so some klowns could get all high and mighty.  for whitney its gonna pts scored for either "see, states are going bankrupt, we must bail them out!!" or "see, states are going bankrupt, they have to cut spending."  bread + circus= congress

Thu, 02/03/2011 - 19:59 | 933033 sgt_doom
sgt_doom's picture

Good point and to step off from your point, we should all remember that absolutely no frigging member of the US congress ever called Mark Klein to come testify before them when he discovered those Narus boxes*** at the commercial switching centers.

What was that about warrantless wiretapping??

***Narus, now a subsidiary of Boeing, is used in semantic analysis at the packet level (Deep Packet Inspection) and allows The State (as in Egypt, where they have also been used quite recently) to track and follow online Web users.  Also, a Boeing subsidiary is Jeppesen Dataplan, known as "Extreme Rendition Airlines" -- thus giving Boeing a synergy of global terrorism.  See Packet Forensics for indepth research of total invasion of all privacy.

Fri, 02/04/2011 - 08:04 | 934091 slewie the pi-rat
slewie the pi-rat's picture

 

 

yo, sarge...the congo did not put klein on the hotseat b/c the nsa claimed responsibility;  i guess they thought it was their job.  communication/encryption dept.

not defending it, just presenting the skinny i got.

doya think klein knew or knows something else?  something more?

same-same in egypt; i guess the brass figures they are our ally or something, so they may be using The State of Egypt to mine intel.  or, maybe it is just egypt. i am not familiar w/ your source.  again, this is nsa job description: cypher & encryption.

kinda weird havin israel AND egypt and allies, but carter and vance got the handshake in '79.

and wasn't there a rumor that one of the bin ladens was concerned abt. the military/nsa thingy getting into saudi arabia abt. 10 years ago?  msm reports.  here's a wikipedia link which goes into the US mil., at least,  getting onto saudi turf in 1990, "because" of Desert Shield (iraq/bushI) and leaving in 2003.

United States withdrawal from Saudi Arabia - Wikipedia, the free encyclopedia

Thu, 02/03/2011 - 19:59 | 933035 rosiescenario
rosiescenario's picture

...its SHOWTIME....they want her there to boost their press presence...I here they had been considering calling Pamela Anderson until some of the younger aids pointed out she is passe.....

Thu, 02/03/2011 - 20:00 | 933037 rosiescenario
rosiescenario's picture

...its SHOWTIME....they want her there to boost their press presence...I hear they had been considering calling Pamela Anderson until some of the younger aids pointed out she is passe.....

Thu, 02/03/2011 - 17:27 | 932470 Seasmoke
Seasmoke's picture

So now citizens can no longer give their OPINION , without being subpoena.......

Thu, 02/03/2011 - 17:33 | 932514 alien-IQ
alien-IQ's picture

only if that opinion expresses an uncomfortable truth.

if you tell a cheery lie...they make you Ambassador to (insert name of puppet dictatorship nation here).

Thu, 02/03/2011 - 17:27 | 932471 NOTW777
NOTW777's picture

"experts who disagree with" Whitney's call, according to Gasparino.

timmy, ben, rahm, SEIU

Thu, 02/03/2011 - 17:43 | 932556 SWRichmond
SWRichmond's picture

Yes, think of all those municipal employees whose lives will be impacted by...truth.  Someone has to stop it!  What about their retirements?

Thu, 02/03/2011 - 17:47 | 932571 NOTW777
NOTW777's picture

LOL and the possible impact on cruise lines, ferrari dealerships, botox - you name it

Thu, 02/03/2011 - 17:38 | 932476 hedgeless_horseman
hedgeless_horseman's picture

Witnesses for The Inquisition at the hearing will include, "experts who disagree with Whitney's call", according to Gasparino, and, "a Scandinavian man that claims Whitney forced him to finish having sex with her after he had changed his mind half way through the act."

Thu, 02/03/2011 - 17:38 | 932533 Mad Max
Mad Max's picture

Ouch!  Good comment.

Thu, 02/03/2011 - 17:53 | 932601 gmrpeabody
gmrpeabody's picture

+1000

roflmao

Thu, 02/03/2011 - 18:05 | 932647 malek
malek's picture

LOL +31.10

Actually I think it would need to read "Swedisch man" as other Scandinavian countries do not have equally crazy laws.

Thu, 02/03/2011 - 19:15 | 932917 Alienated Serf
Alienated Serf's picture

mega lulz

Thu, 02/03/2011 - 17:28 | 932482 Caviar Emptor
Caviar Emptor's picture

Salem 1692: called to testify about 'spectral evidence' of telekinesis and telepathy, seductions and heresy by word. 

Thu, 02/03/2011 - 17:28 | 932484 A_MacLaren
A_MacLaren's picture

Does she get to bring her bodyguard, errr, husband, to keep the CONgress Jackals at bay?

Thu, 02/03/2011 - 17:28 | 932485 MsCreant
MsCreant's picture

So no one can say anything negative that might tank a market without getting accused of manipulation. All you analyst types out there-- Shut Your Fucking Mouths. If you don't have anything nice to say, just don't say any fucking thing at all or we will haul your ass in.

THIS BLOG IS CLOSED FOR BUSINESS.

Thu, 02/03/2011 - 17:47 | 932574 Misstrial
Misstrial's picture

Agree!

And while they're at it, why don't they subpoena NJ Gov. Christie.

He basically stated the same thing as Meredith.

60-Minutes "Day of Reckoning" link:

http://www.youtube.com/watch?v=nP3b0_fnPxQ

~Misstrial

Thu, 02/03/2011 - 18:22 | 932724 Careless Whisper
Careless Whisper's picture

oh they got somethin better planned for him. could be a hot argentinian babe planted in his office or a handsome body guard. who knows, but they'll try somethin.

 

Thu, 02/03/2011 - 23:04 | 933594 Joe Davola
Joe Davola's picture

Krispy Kreme Challenge

Thu, 02/03/2011 - 23:03 | 933592 NumberNone
NumberNone's picture

Somewhere a Moody's analyst is having an uneasy sleep tonight... 

Thu, 02/03/2011 - 17:32 | 932503 lizzy36
lizzy36's picture

Shockingly, no analyst/strategist (Dick Bove-LEH, Jim Crammer-BSC)) has ever been called before congress for bullish calls.

Oddly, men like Bernanke, and Geithner who both missed, and aided the greatest financial crisis in the world, got PROMOTIONS.

Anyone see a visual of congress chanting: Going on a Bear Hunt.....I'm not afraid.

 

Thu, 02/03/2011 - 17:55 | 932613 A_MacLaren
A_MacLaren's picture

Oddly, men like Bernanke, and Geithner who both missed, and aided the greatest financial crisis in the world, got PROMOTIONS.

The Peter Principle in action, ""In a hierarchy every employee tends to rise to his level of incompetence". 

Thu, 02/03/2011 - 22:37 | 933518 TriggerFinger
TriggerFinger's picture

or stated another way, shit rises to the top.  beware floating turds!

Thu, 02/03/2011 - 22:49 | 933553 jeff montanye
jeff montanye's picture

at this point shouldn't one stop calling it a "financial crisis" and use the more accurate "public/private control fraud"? 

Thu, 02/03/2011 - 17:57 | 932622 Amish Hacker
Amish Hacker's picture

That just means that Bernanke and Geitner will be joining Tommy Franks, Paul Bremer, and George "Slam Dunk" Tenet in the Hall of Shame. They got the Medal of Freedom from Dubya in 2004 for their actions in Iraq. In 7 years, we'll be looking back at promotions for Tim & Spanky the same way. 

Thu, 02/03/2011 - 18:02 | 932644 Misstrial
Misstrial's picture

And don't forget about Hank Paulson!

~Misstrial

Thu, 02/03/2011 - 20:15 | 933077 Amish Hacker
Amish Hacker's picture

Of course. Hank was recommended for the Congressional Medal of Honor by the Wall Street Journal (http://blogs.wsj.com/deals/2008/10/15/mean-street-hank-paulson-national-...), but his real reward for going through the revolving door of gov't service was the chance to wash the taxes out of all those GS capital gains. 

Fri, 02/04/2011 - 00:33 | 933796 Village Idiot
Village Idiot's picture

 

"Well Behaved Women Rarely Make History."

 

- Laurel Thatcher Ulrich

Thu, 02/03/2011 - 17:32 | 932504 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

Another sign of how close to the end we are. You don't return to normalcy from this engineered cluster-f**k. This is all going down big time.

Thu, 02/03/2011 - 17:49 | 932586 TDoS
TDoS's picture

+ 10.

Thu, 02/03/2011 - 17:32 | 932505 MyKillK
MyKillK's picture

LMAO. They trying to pin the selloff in Munis to her?? Wow the regime is looking anywhere for a scapegoat.

 

They do realize that the Build America Bonds program was not extended right?

Thu, 02/03/2011 - 17:34 | 932516 Dr. Porkchop
Dr. Porkchop's picture

Congratulations America, you've now officially entered the realm of fascist police state, where speaking the truth is a revolutionary act.

It's never good to be the messenger, I suppose.

Thu, 02/03/2011 - 17:34 | 932517 lunaticfringe
lunaticfringe's picture

Anything vaguely resembling the truth must be screened by our masters.

However, all you lying, thieving fucking bankers and politicians- you fucks get a free pass. Go fuck yourselves.

<rant done> :)

Fri, 02/04/2011 - 00:35 | 933805 Village Idiot
Village Idiot's picture

Don't give them the pleasure of fucking themselves.  Dog willing, that will be handled in the Big House.

Thu, 02/03/2011 - 17:35 | 932520 mfoste1
mfoste1's picture

This is absolutely disgusting....ok so she has stood by this call for some time now, more as a warning for investors than anything else. So now the govt is saying that it raises a flag how she called for the inevitable muni collapse?! The govt is promoting fraud by NOT letting opinions be heard throughout the financial community. Sound kinda similar to McCarthyism if you ask me. "You don't agree with us that the failing states and munis are just fine? You're a communist!"

Thu, 02/03/2011 - 19:44 | 932978 masterinchancery
masterinchancery's picture

A smart 2d grader could figure out that many munis will not have to cash to cover interest payments and redemptions in the near future, which means it is Bernanke/hyperinflation or nothing. And currently Ben isn't playing.

Thu, 02/03/2011 - 17:37 | 932524 Rick Blaine
Rick Blaine's picture

I obviously have no idea whether or not she is right about munis, but I can only hope she does testify and makes mincemeat out of the other "experts."

...along with mocking the joke of a Federal govt that we now have.

It's almost like the Red Scare or something...

Fri, 02/04/2011 - 00:36 | 933807 Village Idiot
Village Idiot's picture

.

Thu, 02/03/2011 - 17:43 | 932528 Zero Govt
Zero Govt's picture

Let's remind ourselves, Washington has a $14 Trillion debt hanging out its arse, has destroyed the US property market, strangled its own US energy sector, propped up Wall Street, GM and Chrsyler, fighting 2 false wars, its regulators are a clown show, its 2 healthcare programmes are both absolutely fuking bankrupt, as is its pensions and what have the 20 Committees, 260 sub-committees and 12 Senate Investigatory committees ever achieved to date while this clown show has been festering????????????

Wow, a Washington committee is going to pick on Whitney, they really know where the problem is!!!!

Answers on a Postcard to: Our Country is a Fuking Washington-Made Shambles, 300 Committees Rammed with Crones Really Working For Your Benefit Dept., Washington, USA, (Postcode. INSOLVENT) 

Thu, 02/03/2011 - 17:42 | 932554 Dr. Porkchop
Dr. Porkchop's picture

Crones...lol

I don't know about that but we know they are full of shit... ;)

Thu, 02/03/2011 - 21:42 | 933341 slewie the pi-rat
slewie the pi-rat's picture

 

oh, doc-tor!

lol, indeed!  that's a great post by zero, tho.

i'm goin: is that a typo?  it shld be clones, right?

then: no, it should be drones.

then, i figured: clones w/ drones!

that's the ticket!

 

Thu, 02/03/2011 - 17:38 | 932530 topcallingtroll
topcallingtroll's picture

Congress got mad at analyst calls about an mbs cdo crash and demanded an investigation. Congress also got mad when mbs investors refused to be the bagman with the court settlement with country wide and demanded their clear right to putbacks. Sounds like every time congress demanded an investigation of investors and analysts they made it worse.

Thu, 02/03/2011 - 17:38 | 932531 Mad Max
Mad Max's picture

The beatings will continue until sovereign debt credit ratings improve.

Thu, 02/03/2011 - 17:44 | 932535 Sudden Debt
Sudden Debt's picture

The hearing will go a bit like this:

 

Mrs. Whitney.... Meredith, can we call you Meredith? Sure we can, we're all friends here, right?

Now Meredith... do you recognize the people on these pictures?

Is that your husband driving in his car and are that your children going to school?

Nice children you have Meredith

But accidents happen so fast...

You wouldn't want something bad to happen to them right Meredith?...

Are you a patriot Meredith? Do you love your country Meredith?

Meredith... we would like you to stop saying these bad things.

I think you understand us right Meredith?

People don't need to hear this things...

they don't want to hear these things...

People Meredith... people like to hear comfortable things.... you know what I mean Meredith?

They don't want to read about bad things, it upsets them.

Like schoolchildren comming from school and being run over...

A husbands car exploding...

Can we agree on this Meredith?

Thu, 02/03/2011 - 17:47 | 932576 Zero Govt
Zero Govt's picture

It's eery, expert, you in TSA or something?

Thu, 02/03/2011 - 18:11 | 932680 malek
malek's picture

Along the lines of Monty Python:

Colonel: But please do sit down.

Luigi: No, we prefer to stand, thank you, Colonel.

Colonel: All right. All right. But what do you want?

Dino: What do we want, ha ha ha.

Luigi: Ha ha ha, very good, Colonel.

Dino: The Colonel's a joker, Luigi.

Luigi: Explain it to the Colonel, Dino.

Dino: How many tanks you got, Colonel?

Colonel: About five hundred altogether.

Luigi: Five hundred, eh?

Dino: You ought to be careful, Colonel.

Colonel: We are careful, extremely careful.

Dino: 'Cos things break, don't they?

Colonel: Break?

Luigi: Well everything breaks, don't it Colonel. (he breaks something on desk) Oh dear.

Dino: Oh see my brother's clumsy Colonel, and when he gets unhappy he breaks things. Like say, he don't feel the army's playing fair by him, he may start breaking things, Colonel.

Colonel: What is all this about?

Luigi: How many men you got here, Colonel?

Colonel: Oh, er... seven thousand infantry, six hundred artillery, and er, two divisions of paratroops.

Luigi: Paratroops, Dino.

Dino: Be a shame if someone was to set fire to them.

Colonel: Set fire to them?

Luigi: Fires happen, Colonel.

Dino: Things burn.

Colonel: Look, what is all this about?

Dino: My brother and I have got a little proposition for you Colonel.

Luigi: Could save you a lot of bother.

Dino: I mean you're doing all right here aren't you, Colonel?

Luigi: Well suppose some of your tanks was to get broken and troops started getting lost, er, fights started breaking out during general inspection, like.

Dino: It wouldn't be good for business would it, Colonel?

Colonel: Are you threatening me?

Dino: Oh, no, no, no.

Thu, 02/03/2011 - 17:39 | 932540 I Am The Unknow...
I Am The Unknown Comic's picture

So, does this mean we will all be heading for Washington soon?  I hear it's cold there this time of year. 

Where are they going to put all of us?  I don't think there are enough hotel rooms in DC for everybody who shares Whitney's views.  Personally I figure by the time the default process is finished, the bailout, emergency funding, and total costs (including dollar devaluation and market selloffs) will exceed 900 billion, so does that mean I should go first instead of Whitney?  I think she's being conservative with "hundreds of billions."    

Thu, 02/03/2011 - 18:05 | 932567 hedgeless_horseman
hedgeless_horseman's picture

I wonder if the hearing be open to the public? 

This might be just the excuse we need for a little get together in D.C. 

I can bring my insolvent hometown's financial statements, and other supporting evidence.

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