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Watch Every US Regulator And Ben Bernanke Testify On Do-nk And Financial (In)Stability

Tyler Durden's picture





 

Every regulator in the universe will be present at Senate Banking Committee hearing discussing Dodd-Frank (Do-nk) Monitoring Systemic Risk and Promoting Financial Stability. Which means there will be nobody to greenlight a margin hike for at least 2-3 hours, as supposedly even Blackberries are not allowed. Which means crude may even lift a few offers before today's take down brings it to $80 by EOD courtesy of Obama's E*trade account.

Watch it live here.

The witnesses will be: The Honorable Neal S. Wolin, Deputy Secretary,
U.S. Department of the Treasury; The Honorable Ben S. Bernanke,
Chairman, Board of Governors of the Federal Reserve System; The
Honorable Sheila Bair, Chairman, Federal Deposit Insurance Corporation;
The Honorable Mary Schapiro, Chairman, U.S. Securities and Exchange
Commission; The Honorable Gary Gensler, Chairman, Commodity Futures
Trading Commission; and Mr. John Walsh, Acting Comptroller of the
Currency, Office of the Comptroller of the Currency.

 

 

Witnesses

Panel 1

  • Honorable Neal S. Wolin

    Deputy Secretary

    U.S. Department of the Treasury

  • The Honorable Ben S. Bernanke

    Chairman

    Board of Governors of the Federal Reserve System

  • Honorable Sheila Bair

    Chairman

    Federal Deposit Insurance Corporation

  • Honorable Mary Schapiro

    Chairman

    U.S. Securities and Exchange Commission

  • Honorable Gary Gensler

    Chairman

    U.S. Commodity Futures Trading Commission

  • Mr. John Walsh

    Acting Comptroller of the Currency

    Office of the Comptroller of the Currency

 


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Thu, 05/12/2011 - 09:44 | Link to Comment PaperBear
PaperBear's picture

Bernanke speaks drivel = gold/silver up

Thu, 05/12/2011 - 09:48 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

I guess there is really honor(able) among thieves.

Thu, 05/12/2011 - 09:46 | Link to Comment achmachat
achmachat's picture

dude! I could swear that guy is being ad-libbed by Stephen Hawking's speach computer!  (Mr Johnson)

Thu, 05/12/2011 - 09:46 | Link to Comment SheepDog-One
SheepDog-One's picture

OH look the biggest criminals in world history are all 'Honourable'...LMAO!

Thu, 05/12/2011 - 10:14 | Link to Comment taxpayer102
taxpayer102's picture

^5

Thu, 05/12/2011 - 11:11 | Link to Comment willien1derland
willien1derland's picture

LoL - Well said SD1 - Sometimes TRUTH is STRANGER than FICTION...

Thu, 05/12/2011 - 11:19 | Link to Comment Rick64
Rick64's picture

+ 100

Thu, 05/12/2011 - 20:02 | Link to Comment StychoKiller
StychoKiller's picture

In the meantime, I got people:

Hello,
I'm working with printing and minting unit of FRB of NY, Sometime ago one metal boxes were intercepted by the US customs at the JFK airport and brought to the Federal Reserve Bank, The box contained usd100 bills to the amount of usd11 million and all were stamped.

I was mandated to examine the boxes and upon my examination; I found out that the first and second usd100 bills were only stamped; it was actually brought in from Africa apparently to deceive the US customs.

I used a diluted chemical to clean up the stamped and found the $100 bills perfect. My purpose of contacting you is that I found your name/ e-mail id under one of the boxes as the beneficiary. Get back for farther details
Marc Lopez,

Just glad someone in the FRB is looking out for the "little guy!" :>D

Thu, 05/12/2011 - 09:51 | Link to Comment RockeyTop
RockeyTop's picture

moron circlejerk..

Although I do appreciate that Senator Shelby is calling out Peter Dimon

 

Thu, 05/12/2011 - 09:44 | Link to Comment Sofa King
Sofa King's picture

It's not Do-nk, it's Fr-odd.

Thu, 05/12/2011 - 11:14 | Link to Comment willien1derland
willien1derland's picture

Well done - +100

Thu, 05/12/2011 - 09:45 | Link to Comment Turd Ferguson
Turd Ferguson's picture

Please take 15 minutes to watch the "60 Minutes" segment that is linked in this post:

http://tfmetalsreport.blogspot.com/2011/05/our-criminal-opposition.html

Thu, 05/12/2011 - 09:48 | Link to Comment 6 String
6 String's picture

Well, pretty soon, when futures market are limited to liquidation only, Obama won't even have to monitor the situation.

Remember, they did this to Hunt. What else can they do? Limiting contracts isn't a problem for longs. But allowing liquidation only will.

Then, they will allow liquidation only in the physical markets and its game over.

Thu, 05/12/2011 - 10:03 | Link to Comment Rynak
Rynak's picture

You say "physical markets", but i am only aware of such draconic measures having been done to silver.

Thu, 05/12/2011 - 09:47 | Link to Comment squexx
squexx's picture

Amazing how many joo names are listed there, isn't it!?! When you lose everything and have nothing to lose, you know where and whom to target!

Thu, 05/12/2011 - 10:57 | Link to Comment whstlblwr
whstlblwr's picture

It's right, I target scared squexx because he have bunker of food and guns. When I lose everything I know squexx will have scaredy cat supplies in scared little devil cave. I lose everything I find man most scared of Jews and they have what I want. It makes sense find Jew haters when you lose everything.

But Jew Sen Levin will get you if you corrupt banker. Is squexx corrupt banker? are you scared of Jew Senator Levin? Check your bunker make sure you have food to last the JEW who trying to rule the world

Thu, 05/12/2011 - 10:48 | Link to Comment optimator
optimator's picture

Put most of those names together and you're looking at a Wall Street lawyer's firm name for the future.

Thu, 05/12/2011 - 11:34 | Link to Comment whstlblwr
whstlblwr's picture

I see Senate hearing for tax and Big oil and gas. Do Christians rule oil and gas. I scared Christians from oil and gas take my money at gas station. They steal my money as taxpayer then the Christians from OIL make high gas price.

Look at hearing, amazing how many Christian name listed there, isn't it!?! When you lose everything, after take food and guns from squexx, I think:

Witness Testimony
Mr. John Watson, Chairman of the Board and Chief Executive Officer, Chevron Corporation, San Ramon, CA
Mr. Marvin Odum, U.S. President, Shell Oil Company, Houston, TX
Mr. H. Lamar McKay, Chairman and President, BP America Inc., Houston, TX
Mr. James Mulva, Chairman and Chief Executive Officer, ConocoPhillips, Houston, TX
Mr. Rex Tillerson, Chairman and Chief Executive Officer, Exxon Mobil Corporation, Irving, TX

Thu, 05/12/2011 - 09:51 | Link to Comment RobotTrader
RobotTrader's picture

I hope they do another 4 margin hikes on RBOB.

That will be a huge boost for the economy.

Thu, 05/12/2011 - 09:57 | Link to Comment scatterbrains
scatterbrains's picture

I thought refined products pricing are  influenced only by foreign demand since most is exported out of country now. Why would the refiners give a rat's ass about paper rbob games?

Thu, 05/12/2011 - 09:59 | Link to Comment 6 String
6 String's picture

Everything is correlated = QE and unfunded deficit spending, everything up. A tightening of unfunded spending and no QE and it's 2008/early 09 all over again.

Questions?

Thu, 05/12/2011 - 09:48 | Link to Comment dexter_morgan
Thu, 05/12/2011 - 09:49 | Link to Comment RobotTrader
RobotTrader's picture

Every retail stock on my screen is green today.

Thu, 05/12/2011 - 09:55 | Link to Comment Atomizer
Atomizer's picture

Go out and buy yourself a new bra.

Thu, 05/12/2011 - 09:53 | Link to Comment firstdivision
firstdivision's picture

Banks have to dump them on the masses before reality sets in.  Rinse, wash, repeat.

Thu, 05/12/2011 - 10:47 | Link to Comment optimator
optimator's picture

Why not, retail is booming, sales up .08% etc., whoops, but prices are up 4%.

Thu, 05/12/2011 - 09:56 | Link to Comment Turd Ferguson
Thu, 05/12/2011 - 09:56 | Link to Comment dexter_morgan
dexter_morgan's picture

New Madrid earthquake? Been a long time, just sayin...........

Thu, 05/12/2011 - 10:01 | Link to Comment Zymurguy
Zymurguy's picture

I sure hope not... we live right on that sucka'.

Thu, 05/12/2011 - 10:05 | Link to Comment dexter_morgan
dexter_morgan's picture

ditto, too close for comfort here too

Thu, 05/12/2011 - 10:01 | Link to Comment Atomizer
Atomizer's picture

Nice job on your blog this morning.

Thu, 05/12/2011 - 10:02 | Link to Comment Kina
Kina's picture

thereby warining us something dramatic is about to happen. That would be a White Swan.

Thu, 05/12/2011 - 10:19 | Link to Comment The Fonz
The Fonz's picture

I need to work out some sort of weighted rhetoric system for stuff theses aholes say so that I  can work it into my expected resistance points and risk considerations... 

Thu, 05/12/2011 - 20:07 | Link to Comment StychoKiller
StychoKiller's picture

Japan following Reactor #1 on "Journey to the Center of the Earth, V2.0?"

Thu, 05/12/2011 - 09:55 | Link to Comment Josh Randall
Josh Randall's picture

Is this the Legion of Doom table from Super Friends ?

http://www.youtube.com/watch?v=IBknrm13080&feature=related

Thu, 05/12/2011 - 09:59 | Link to Comment Kina
Kina's picture

Every regulator in the universe will be present at Senate Banking Committee hearing

 

So eady for the FBI then, all the criminals gathered in one room, how easy could it be for them.

Thu, 05/12/2011 - 10:00 | Link to Comment dexter_morgan
dexter_morgan's picture

Yes, that would be great.........sadly it won't happen.

Thu, 05/12/2011 - 10:04 | Link to Comment Rynak
Rynak's picture

I think i just commited a thought crime....... but it felt really good!

Thu, 05/12/2011 - 20:11 | Link to Comment StychoKiller
StychoKiller's picture

It is your duty then, to turn yourself in, Comrade!  Look forward to some quality time in Room 101...

Thu, 05/12/2011 - 10:04 | Link to Comment RobotTrader
RobotTrader's picture

Another crash in bond yields today.

5-yr. yield is now way down to 1.84%.

30-yr. mortgage rates are still near 40-year lows.

This, combined with crashing gasoline prices is very bullish for the U.S. consumer.

Thu, 05/12/2011 - 10:07 | Link to Comment AG BCN
AG BCN's picture

"Honorable" all of them, except poor John Walsh, he is just acting as the Comptroller.

Thu, 05/12/2011 - 10:19 | Link to Comment NoTTD
NoTTD's picture

"DoFra" is funnier.  Gayer, too.

Thu, 05/12/2011 - 10:22 | Link to Comment PaperBear
PaperBear's picture

"Too big to fail" is an absolute disgrace in a supposedly free market capitalist system.

"Too big to exist" MUST be established as an ABSOLUTE fundamental principle.

Thu, 05/12/2011 - 10:23 | Link to Comment Xibalba
Xibalba's picture

Blair just said 'We know that bankruptcy doesn't work.' ....I guess that clears it up a bit, no?

Thu, 05/12/2011 - 10:26 | Link to Comment PaperBear
PaperBear's picture

The Glass-Steagal act should never have been repealed. Allowing investment banks and depository banks to associate in one entity is an ABSOLUTE ABSURDITY.

Thu, 05/12/2011 - 10:33 | Link to Comment AldoHux_IV
AldoHux_IV's picture

Throw in some policymakers from the EU, IMF/Worldbank, and other central bankers and you have a room full of the most worthless people on this planet.

The level of stupid that exists in that room must be amazing-- beware the fallout-- 5000m/s and counting.

Thu, 05/12/2011 - 10:34 | Link to Comment dbTX
dbTX's picture

Nothing short of clearing the deck of all these "round table" bottled water drinking crooks will ever bring this country and the market back from the brink of destruction. These witnesses are milk toast and so are the questioners. They all make me sick.

Thu, 05/12/2011 - 10:58 | Link to Comment PaperBear
PaperBear's picture

Mr. Gensler just mentioned manipulation and the regulators job to prevent it.

Ha Ha Ha Ha

Thu, 05/12/2011 - 11:14 | Link to Comment optimator
optimator's picture

Loosely translate the name, gensler thanslates to "gooser".  Very fitting.

Thu, 05/12/2011 - 11:07 | Link to Comment optimator
optimator's picture

The hearing need a soft background music for effect.  May I suggest, "We are part of a mutual admiration society".  They'd all start humming it though and forget the hearing.

Thu, 05/12/2011 - 11:15 | Link to Comment Rick64
Rick64's picture

Yes, saying  nothing and doing nothing.

Thu, 05/12/2011 - 11:10 | Link to Comment I am Jobe
I am Jobe's picture

I am fing tired of the yak yal yak. hang the bitchez or throw gasoline and light a match and get this shitz done with. America is all talk it shows.

Thu, 05/12/2011 - 11:23 | Link to Comment glenlloyd
glenlloyd's picture

But that's how everything around here is 'solved', all talk and little action.

None of these clowns could find their way out of a paper bag.

Thu, 05/12/2011 - 11:33 | Link to Comment rufusbird
rufusbird's picture

The goal of the Commitee is to get to say something they can hold them accountable for. The objective of the witnesses is to say nothing they can be held accountable for.

Thu, 05/12/2011 - 11:52 | Link to Comment svc101
svc101's picture

Err.. typo in the witness list. Title is Dishonorable.

Thu, 05/12/2011 - 12:55 | Link to Comment dcb
dcb's picture

I get nothing on the feed, are they at lunch?

Thu, 05/12/2011 - 13:42 | Link to Comment optimator
optimator's picture

All on their third martini discussing why it's costing the hosting lobbiests more than last lunch!

Thu, 05/12/2011 - 15:08 | Link to Comment nah
nah's picture

did they invite King Dollar

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