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

Submitted by Tyler Durden on 05/12/2011 09:39 -0400

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

- advertisements -

Thu, 05/12/2011 - 09:44 | 1267417 PaperBear

Bernanke speaks drivel = gold/silver up

Thu, 05/12/2011 - 09:48 | 1267436 Fish Gone Bad

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

Thu, 05/12/2011 - 09:46 | 1267426 achmachat

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

Thu, 05/12/2011 - 09:46 | 1267430 SheepDog-One

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

Thu, 05/12/2011 - 10:14 | 1267551 taxpayer102

Thu, 05/12/2011 - 11:11 | 1267866 willien1derland

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

Thu, 05/12/2011 - 11:19 | 1267897 Rick64

+ 100

Thu, 05/12/2011 - 20:02 | 1270125 StychoKiller

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 | 1267431 RockeyTop

moron circlejerk..

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

Thu, 05/12/2011 - 09:44 | 1267433 Sofa King

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

Thu, 05/12/2011 - 11:14 | 1267870 willien1derland

Well done - +100

Thu, 05/12/2011 - 09:45 | 1267435 Turd Ferguson

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 | 1267437 6 String

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 | 1267504 Rynak

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

Thu, 05/12/2011 - 09:47 | 1267445 squexx

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 | 1267706 whstlblwr

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 | 1267723 optimator

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 | 1267992 whstlblwr

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 | 1267448 RobotTrader

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 | 1267481 scatterbrains

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 | 1267493 6 String

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 | 1267450 dexter_morgan

Hmmm, good news for TPTB

http://news.yahoo.com/s/theweek/20110506/cm_theweek/215055

Thu, 05/12/2011 - 09:49 | 1267456 RobotTrader

Every retail stock on my screen is green today.

Thu, 05/12/2011 - 09:55 | 1267470 Atomizer

Go out and buy yourself a new bra.

Thu, 05/12/2011 - 09:53 | 1267473 firstdivision

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

Thu, 05/12/2011 - 10:47 | 1267736 optimator

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

Thu, 05/12/2011 - 09:56 | 1267477 Turd Ferguson

05-12 09:46: Fed's Plosser says Fed has made clear there is no QE3 on table unless something dramatic happens

Gee, I wonder what he has in mind...

Thu, 05/12/2011 - 09:56 | 1267488 dexter_morgan

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

Thu, 05/12/2011 - 10:01 | 1267505 Zymurguy

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

Thu, 05/12/2011 - 10:05 | 1267510 dexter_morgan

ditto, too close for comfort here too

Thu, 05/12/2011 - 10:01 | 1267491 Atomizer

Nice job on your blog this morning.

Thu, 05/12/2011 - 10:02 | 1267500 Kina

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

Thu, 05/12/2011 - 10:19 | 1267575 The Fonz

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 | 1270140 StychoKiller

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

Thu, 05/12/2011 - 09:55 | 1267483 Josh Randall

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 | 1267487 Kina

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 | 1267490 dexter_morgan

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

Thu, 05/12/2011 - 10:04 | 1267516 Rynak

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

Thu, 05/12/2011 - 20:11 | 1270145 StychoKiller

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 | 1267515 RobotTrader

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 | 1267517 AG BCN

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

Thu, 05/12/2011 - 10:19 | 1267567 NoTTD

"DoFra" is funnier. Gayer, too.

Thu, 05/12/2011 - 10:22 | 1267587 PaperBear

"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 | 1267595 Xibalba

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 | 1267597 PaperBear

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 | 1267633 AldoHux_IV

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 | 1267647 dbTX

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 | 1267782 PaperBear

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

Ha Ha Ha Ha

Thu, 05/12/2011 - 11:14 | 1267862 optimator

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

Thu, 05/12/2011 - 11:07 | 1267830 optimator

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 | 1267867 Rick64

Yes, saying nothing and doing nothing.

Thu, 05/12/2011 - 11:10 | 1267863 I am Jobe

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 | 1267922 glenlloyd

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 | 1268004 rufusbird

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 | 1268067 svc101

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

Thu, 05/12/2011 - 12:55 | 1268302 dcb

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

Thu, 05/12/2011 - 13:42 | 1268490 optimator

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

Thu, 05/12/2011 - 15:08 | 1268999 nah

did they invite King Dollar

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

Witnesses

Panel 1

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