Watch Bernanke, Shapiro And Gensler Testify On The "Effectiveness" Of Dodd-Frank

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Thu, 07/21/2011 - 10:02 | 1476902 Quintus
Quintus's picture


Thu, 07/21/2011 - 11:23 | 1477230 PlausibleDenial
PlausibleDenial's picture  Yes, and who is watching the chickens.... Just a little audit here.

Thu, 07/21/2011 - 10:07 | 1476907 GetZeeGold
GetZeeGold's picture


Fwank is so big he's a panel unto himself.

Why isn't Walsh honorable.....what did he do?


Thu, 07/21/2011 - 10:13 | 1476942 israhole
israhole's picture

He's a goy?

Thu, 07/21/2011 - 10:05 | 1476913 markbark
markbark's picture

Calling that lineup of crooks "honorable" is the oxymoron of all time....

Thu, 07/21/2011 - 10:05 | 1476915 nmewn
nmewn's picture

Witnesses: Barney Frank

Shouldn't that be defendant?

Thu, 07/21/2011 - 10:05 | 1476917 Johnny Lawrence
Johnny Lawrence's picture

Market's up big!

Jobless claims terrible, Morgan Stanley loses 500 million on the quarter, another bailout of Greece!  America - FUCK YEAH!

Thu, 07/21/2011 - 10:15 | 1476950 Dr. Engali
Dr. Engali's picture

I think they do this just to make logical thinkers go insane.

Thu, 07/21/2011 - 10:28 | 1477015 Cursive
Cursive's picture

@Dr. Engali

I've seen a lot of weird shit the last 3 years, but this Morgan Stanley thing is completely FUBAR. Dick Bove called them the new Goldman Sachs.

Thu, 07/21/2011 - 10:54 | 1477111 Dr. Engali
Dr. Engali's picture

Bove needs to retire. The only credibility he has is with the establishment and that is because he is a useful grandfatherly tool to fool the masses.

Thu, 07/21/2011 - 10:07 | 1476923 digalert
digalert's picture

Are cream filled pie plates allowed at the hearing?

Thu, 07/21/2011 - 10:08 | 1476928 dropdeadfed
dropdeadfed's picture

I'm sorry but is Johnson drunk or retarded?

Thu, 07/21/2011 - 11:30 | 1477259 covsire
covsire's picture

He had a stroke and couldn't work for a year. like a good liberal though he's held on to his power with the typical satanic fervor you'd expect from a deranged leftist hellbent on a socialist revolution.

Thu, 07/21/2011 - 11:56 | 1477344 dropdeadfed
dropdeadfed's picture

After reading your first sentence I, for a moment, felt like a complete ass.  The rest of your comment retracted my feelings for me, good times.  I say, let Switzerland manage our monetary policies from here on out.  Is ZH going to follow them any closer?  I heard somewhere they are working toward re-establishing a gold standard....

Thu, 07/21/2011 - 13:52 | 1477848 sheeple2012
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"Johnson returned to work in the Senate on September 5, 2007 to both tributes and standing ovations. It was reported that Democrats and Republicans alike had tears in their eyes during his first speech on the Senate floor.["


i'm getting choked up just reading about it... he really must be quite a guy?


Thu, 07/21/2011 - 15:58 | 1478436 covsire
covsire's picture

It's all politics. You think a RINO will be caught dead not hailing Satan in a situation that the media could so easily confuse their disgust for the commie with contempt for stroke victims? Ps I love comparing socialists with the darklord.

Thu, 07/21/2011 - 10:08 | 1476931 B-rock
B-rock's picture

I want Tim Johnson to say "Wascwy Wabbit"

Thu, 07/21/2011 - 10:12 | 1476938 francis_sawyer
francis_sawyer's picture

can someboy draw a silent thought text bubble over the heads of those 4 photographers standing there that says ("I take fotos of Barney Frank - my life & job actually mean something")...

Thu, 07/21/2011 - 10:14 | 1476944 Dr. Engali
Dr. Engali's picture

There is nothing honorable about any of that crew.

Thu, 07/21/2011 - 10:18 | 1476962 Cognitive Dissonance
Cognitive Dissonance's picture

More like The Three Tools.

Thu, 07/21/2011 - 10:20 | 1476978 lizzy36
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Thu, 07/21/2011 - 10:29 | 1477020 Cognitive Dissonance
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Thu, 07/21/2011 - 11:02 | 1477142 the not so migh...
the not so mighty maximiza's picture

i like it

Thu, 07/21/2011 - 12:38 | 1477497 citta vritti
citta vritti's picture

to say nothing of her kid brother Freddie Mac

Thu, 07/21/2011 - 10:39 | 1477055 cosmictrainwreck
cosmictrainwreck's picture

good one, Lizzy! perfect. also reminds me of "Dancing Queen" by who?  Abba? (aging myself here)

I'm guessing the junker was laughing so hard he/she wanted to post points for recognition

Thu, 07/21/2011 - 11:19 | 1477207 TruthInSunshine
TruthInSunshine's picture

The disco ball Fwank got to me.

I must concede.

It's so right for him, yet wrong for me, that there's true comedy in the friction.

Thu, 07/21/2011 - 10:18 | 1476968 Syrin
Syrin's picture

The Chairsatan....   classic

Thu, 07/21/2011 - 10:22 | 1476972 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Instead of "Honorable", I think we should begin to refer to them as "Miserable"....

And now from Massachusetts, the "Miserable" Bawney Fwank.

Thu, 07/21/2011 - 10:23 | 1476994 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

The "honorable" Charles Manson will also testify.


"Am I crazy or is it hot in here".    Charles Manson



Thu, 07/21/2011 - 10:25 | 1477003 Clint Liquor
Clint Liquor's picture

I would rather watch dogs fuck.

Thu, 07/21/2011 - 10:34 | 1477037 mudduck
mudduck's picture

Watching these guys reminds me of the old saying that goes something like; 'Spend your whole life working hard at your trade hoping to be recognized as a master of your craft, but suck one dick and you are guaranteed to always be recognized as a cocksucker.'

Thu, 07/21/2011 - 10:35 | 1477043 Kokulakai
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Flip Wilson, and Geraldine?

In the White House?



Thu, 07/21/2011 - 10:36 | 1477047 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

As to wisk wetentions I tink dey awe pwababwy da cathe dat my fwendth, fwom Wilbo Woth, an inbethto, to uba membethph ob finanth, do expethatwy adhewaw to da weguwathons.  As po dawibatibs, id muth be cweaw dat deaw ith no tathpyaw money.  And I wand do discuth Fannie May and Fweddie Mac, id wath a total admiwathun fo anyone to offol a memoowandim of any sord in da Houth ow Thenad.  Obama wond let them do id!  Obama is da debil!!!!  Da German, he wath athk by Obama to wait, and the no tine to wait, bud twy to aboid thith notun.

-The "Miserable" Bawney Fwank

Thu, 07/21/2011 - 10:37 | 1477056 Samual Adams
Samual Adams's picture

Somebody needs to give Fwank the ol' Pie in the Face.  Like Murdoch got a couple days ago.

Infact we should all walk into the Capital Building and give them all Pies in the Face.

Thu, 07/21/2011 - 10:38 | 1477059 SRV - ES339
SRV - ES339's picture

I can understand the ZH'r contempt for Mr Frank... he clearly understands the details of the legislation and isn't simply reading from 'canned' ideological (T Party) talking points (like Shelby)... Bernie 1 / Shelby!

Thu, 07/21/2011 - 10:49 | 1477096 jmc8888
jmc8888's picture

As effective as a broken condom.


Thu, 07/21/2011 - 10:54 | 1477110 Catullus
Catullus's picture

This legislation was very effective at quelling demands for "reform" and creating another useless agency called Consumer Protection which was the brainchild of an academic who literally had zero experience with money and probably couldnt create a P&L if her life depended on it. By quelling the demands for real reforms, it took away regulatory uncertainty from large financial institutions by allowing them to write the relevant statues that the bill authorized "regulation" of. You see, by authorizing regulating authority, we in congress don't actually have to debate anything or be held accountable for any specific statue created. Also, we can claim victory without anything having actually being implemented. These meetings on "effectiveness" are great to because it gives us the chance to pay ourselves on the back for nothing having actually changed.

Thu, 07/21/2011 - 10:54 | 1477112 msnrochny
msnrochny's picture

Ummmm.....wouldn't it make a little more sense to ask the former banksters at the CFTC to actually implement what Dodd-Frank ordered them to do, and then see how successful it has been?

Thu, 07/21/2011 - 11:00 | 1477129 SRV - ES339
SRV - ES339's picture

... he better get questioned on it!

Thu, 07/21/2011 - 10:54 | 1477114 UTICA CLUB XX PURE

According to this live feed, everything's going great so just get back to work boys & girls...


Thu, 07/21/2011 - 11:01 | 1477140 Bansters-in-my-...
Bansters-in-my- feces's picture

The Honorable Ben Bernanke,


Make me fucking puke...!!!

Honorable my ass.



Fuck that....

Thu, 07/21/2011 - 11:16 | 1477149 GiantWang
GiantWang's picture

What is the point? Nothing is going to happen! The system should logically collapse and come to a grinding halt. Many of us probably realized that intuitively during our first lessons on bond finance and pricing. The problem is that economics is not like gravity. It is not certain, and nothing is unavoidable.  Economics requires the participation of resilient and dynamic human beings that will buy into anything, and no matter how bad it gets, we will continue participating until creating an alternative is less painful than participation.  We have a LONG way to go . . . . No matter how bad things get, people wake up and face their day--they get on with the business of living.  The "rules" of economics are ignored by the TPTB and altered just to keep the wheels turning for us--the reslient and brainwashed participants in the system.

In the U.S. we drive gas guzzling cars and pay almost $4.00 per gallon for gas.  Gas in the U.K. runs about $10 per gallon.  How much more will we tolerate?  A LOT.  There has been no revolution in the U.K., and there won't be one here in any form in the near future for the simple reason that most people are tuned out.  As long as people can drive to the store to buy food and they have cable television and access to the internet for reading Zero Hedge, nothing will change.

What does all this mean?  It means that it's not surprising at all that the market keeps going up.  It means that being short in this market, while the logical and reasonable choice, does not take advantage of herd psychology.  It means that even if we make fortunes being short, we ironically might not ever see that money or realize its benefits due to lack of liquidity or hyperinflation and the fact that we've been "right" about collapse.

I'll believe economic collapse is imminent when the military gets involved just to maintain the political status quo.

Thu, 07/21/2011 - 11:09 | 1477165 PulauHantu29
PulauHantu29's picture

I am expecting to see the "Pelosi-Barney Frank, 2012" announcement anytime now.

Thu, 07/21/2011 - 11:11 | 1477174 UTICA CLUB XX PURE

Sounds like we have "bankers" supervising "bankers." Is that about it?

Thu, 07/21/2011 - 11:15 | 1477189 UTICA CLUB XX PURE

That Tim Johnson's a really sharp guy. He's just reading like a 3 year old for shits & giggles I would imagine.

Thu, 07/21/2011 - 12:25 | 1477453 TruthInSunshine
TruthInSunshine's picture

Just an FYI  b/c you clearly don't know, but he had a stroke and suffered brain damage.

There are many questions about why, how, who regarding the whethers of legislative service, but I'll leave that debate for others.

Thu, 07/21/2011 - 12:24 | 1477452 wisefool
wisefool's picture

Loved the image at the start of the paused CSPAN video plug-in. Reporters with all their tools (cameras, microphones, etc)

I could just imagine those reporters in the below music video: Are you sure God did God's Work this way?

"Are you sure Hank (Williams, country singer) did it this way?"

Its the same old tune with fiddles and guitars, where do we take it from here? Rhinestone suits and new shiny cars, its been the same way for years

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