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He can comment on systemic risk, him???????? HA HA...
what's even funnier is how that dipshit and people like him give the banks passes to fudge numbers like mfers with SIVs and other offsheet crap, distorting real numbers and then they slavishly parrot the "official" data which they KNOW excludes all of the other crap!
The lies are utterly brazen and shameless
but no one cares.. and by no one.. I mean not 1% of "We the People" give a shit! thusly they (being the FED / Treasury) will continue to run over "We the People" and then continue to back up after running us over to make sure they did in fact run us over... our Country is drowning in stupid people! and the whole idea of population control is really growing on me.. fuck these idiots! natural selection is the green / natural way to go! Green shoots over the ground that their dead bodies fertilize!
John Holdren: White House Malthusian
by Robert Bradley Jr.March 3, 2011
If there is one quotation by Obama’s new science advisor that every American should hear, it is this:
“A massive campaign must be launched to restore a high-quality environment in North America and to de-develop the United States. . . . Resources and energy must be diverted from frivolous and wasteful uses in overdeveloped countries to filling the genuine needs of underdeveloped countries. This effort must be largely political” (italics added).
- John Holdren, Anne Ehrlich, and Paul Ehrlich, Human Ecology: Problems and Solutions (San Francisco; W.H. Freeman and Company, 1973), p. 279.
Holdren’s deep-seated belief of the human “predicament” as a zero-sum game–America must lose for other countries to win–was also stated by him two years before:
“Only one rational path is open to us—simultaneous de-development of the [overdeveloped countries] and semi-development of the underdeveloped countries (UDC’s), in order to approach a decent and ecologically sustainable standard of living for all in between. By de-development we mean lower per-capita energy consumption, fewer gadgets, and the abolition of planned obsolescence.”
- John Holdren and Paul Ehrlich, “Introduction,” in Holdren and Ehrlich, eds., Global Ecology, 1971, p. 3.
Holdren and the Ehrlichs paid homage to the gloomy worldview of Thomas Robert Malthus, who saw “misery or vice” as the necessary equalizer between growing population and the means of subsistence in An Essay on the Principle of Population (1798):
“We find ourselves firmly in the neo-Malthusian camp. We hold this view not because we believe the world to be running out of materials in an absolute sense, but rather because the barriers to continued material growth, in the form of problems of economics, logistics, management, and environmental impact, are so formidable.”
- Paul Ehrlich, Anne Ehrlich, and John Holdren, Ecoscience: Population, Resources, and Environment (San Francisco: W. H. Freeman and Company, 1977), p. 954.
Holdren and Paul Ehrlich put their anti-growth philosophy into a mathematical equation, I=PAT, where a negative environmental impact was linked to any combination of population growth, increasing affluence, and improving technology. This “gloomy prognosis” required, according to the three:
“organized evasive action: population control, limitation of material consumption, redistribution of wealth, transitions to technologies that are environmentally and socially less disruptive than today’s, and movement toward some kind of world government” (1977: p. 5).
Does Dr. Doom still believe all this? He has repeatedly been challenged with some of his past quotations and he has held fast to his exaggerations. Mid-course correction not.
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I suppose Timmy would come up with similar statistics and charts about how his cheating on $36,000 of tax liabilities is "much less than other tax cheats".
A man who cheats on his taxes to the tune of the median yearly wage of the average American appointed Secretary of the Treasury lecturing on the merits of U.S. banking.
Consider this. We are tribal beings. A half a million years of tribal evolution makes us hate cheaters to the core.
We know it instinctually in our gut when someone takes more than their share, or doesn’t pull their weight. If we didn’t, we wouldn’t be here, because each Timmy-type cheater to come along would drain the vitality of the tribe and eventually starve it or get it killed. Those like his ilk 50K BC were driven out, or checked to keep their propensity-to-leach genes at a minimum. Cheaters are dangerous to the survival to the tribe.
Co-evolved with our tribal evolution is the sociopathic leader. He served a function to aggressively expand the tribe. There’s a lot of negatives to that, but suffice to say, those tribes that were the most aggressive are the ones each of us is descended. So there is an even deeper primal instinct to follow such leaders.
Only in our relatively recent modern culture has “Homo-leachus” and “Bankster” been able to grow and thrive, hiding in the complexity of monetary, economic and political systems that few understand. We’re not there to watch them carve the boar, or see how hard they forage. That we’d see and know.
But when that complexity fades away, they will be ferreted out. That gene pool has grown quite large, unfortunately.
True that, and "Homo-leechus" is protected by "Homo-sharkus" or "Lawyer" who uses tomes of vocabulary and artifacts of dead predecessors to grow and maintain a hegemony of equivocation and the obfuscation of common sense and swift justice.
Good points. Evolution is not about survival of the individual, it is about survival of the tribe, which in turn supports individual survival. So traits that serve the tribe are lauded and those that harm it are eliminated, as long as both are visible to the tribe. The biggest threat to the modern world isn't corruption - that has always been around - it's the opportunities to become invisible via obscuring complexity.
Does anyone remember the title or link to the ZH article listing all the free resources for learning how to trade, i think it was called traders university or something like that.
but it doesn't seem to be working
That's the one, not mine below, and it appears to be working now just takes it a minute to load links (mostly PDF's).
This may be it but I'm not sure:
Why the hell is this guy still Treasury Secretary?
JC, the American people are such a disappointment.
He's very good at bending over
Timmy "Goatse" Geithner. Well sir, I like that moniker very much thank you.
Because Timmay Jeethner's daddy Peter hired Obama Bin Lyin's mama Stanley at the CIA front Ford Foundation, lo those many years ago...
And we are still paying for the crony capitalist system where the elite and their spawn only fail upwards...
that's right, burn that junk button off!
Go ahead, worship the ex-Goldman criminal.
He will be heald accountable when he helps Benocide destroy the currency. I promise you that.
"Full Faith and Credit" will be engraved on his tombstone.
With "^ Turbo Tax" spray painted over his name.
I think what turbo tax Timmy meant was that we are "the healthiest horse in the glue factory"...Oh the joy. I feel much better now.
So the big US Banks are sound, but if the US Government doesn't go deeper into debt (raise the debt ceiling) the entire system will collapse.
Tim (shit-for-brains) Geithner needs to get his story straight. Either it's a house of cards built on a foundation of sand or it's not.
anyone know where i can find a Fannie Mae branch office to make a deposit, i got tired from looking for a Goldman Sachs branch
i got a little past this: So let me describe why we are in a much stronger position today, and where we still have a lot of work to do., and decided one of us is insane.
maybe try again, later...
...for congress to wave at the "Race to the Bottom."
Tim "The Economic Hitman" Geithner will soon show us his finishing move !
Economania IV - we're coming !
So basically the world banking system has become a special olympics relay race?
Oh blah-dee, oh blah-da, life goes oooon, on, la-la how the life goes on...
So basically the world banking system has become a special olympics relay race?
Where every bank is a winner just for trying!
Where every bank gets a Stress Test Medal just for trying...
BTW: I want to smuggle one of those foam fingers into the audience the next time Timmay is testifying before Congress... Should show up well on the CNN Jeethner Douche cam...
..or for congress to give a good prostate probin' to the electorate.
turn the text right side up - make the index a giant fat finger - throw some white stripes flaking paint and < 50 stars wilting off a blue background and you've got yourself creating more jobs and income than QE _ ever will
Just another version of the "If we make banks set aside enough capital, we can let them do whatever they want" speech.
These guys (Geithner, Bernanke, Greenspan et al) are nothing more than shills for the international banking oligarchs.
I can't believe that anyone still listens to this bullshit.
Everything Timmy says makes perfect sense if he would turn around, pull his pants down and stand on his head when he begins to spew crap, I mean talk.
USA! USA! USA!
Speech rewritten in proper context
Thank you, Rick, for the check. It’s good to be away from Washington and to have this opportunity to waste even more time speaking about global financial reform. Nearly a year ago the President signed into law the most significant financial reforms since the Great Depression. These reforms are essential to making the good ol boys system stronger and more resilient to calls from bleeding heart liberals that want such things as transparency, accountibility, and "fairness." More importantly, it, once again, deflects attention from the fact that I was in charge of the NY Fed while all the shenanigans were going on. I must admit. I did a heck of a job spreading the toxins of our mortgage market globally. Alan would be proud.
Timmay sure is long winded for a worthless cock sucker...
Now to be fair, we know very little about his net worth.
There's no risk. Everything is fine. All is well.
As was said brilliantly in another thread - the US remains the best-looking horse in the glue factory barn.
Listening to Timmy G is like having ice picks shoved into my ears.
This is like having the man who robbed your house come over to help manage your home security system.
Wolf meet henhouse.
Well good. Then it will be easier to just let them fail next time.
Timmay needs to go back to school.
"We allowed the emergence of a parallel or “shadow” financial system outside of the constraints we place on banks."
Yes, and we know you work for them.
So, looks like if Timmah & The Bernank bail out just 3 banks in each country, then things will be swell?
Why I'm surprised they haven't done it already!
/sarc (in case it wasn't obvious)
He basically said that "our banks were fu cked, and bailed out, but it turned out that our banks were much safer comparing to yours, this is why Bernanke helped you out"
FUBAR save the ink!
No worry. We have Statesman and deep thinkers in charge, we should just let them run our lives for us. Tim and Anthony have a lot in common, petite stature and a rather limited "toolbox". Check out Anthony here with a nice family pic in the background.
The "system" is now selecting almost exclusively for sociopathy.
A sure sign that its days are numbered.
"...decided in designing our financial reform(s) to preserve a system of specialized, functional supervision, with different regulators responsible for consumer protection, for investor protection and market integrity, for supervision of banks, and for deposit insurance and bank resolution."
Honestly, is it possible to list more oxymorons in one statement? Market integrity? That's a conspiracy theory.
It is indeed a spurious argument to assert that you are "okay" when you are seemingly less fucked up than others.
You're either fucked up, or you're not.
You're either going deeper into the hole, or you're coming out.
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