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Watch Geithner (Not) Answer House Price Questions Before The Congressional Oversight Panel

Tyler Durden's picture





 

We are a little late on this one, but there is a hearing in progress in which Tim Geithner is answering various questions by the Congressional Overight Panel on what the impact of the foreclosure crisis will be on home prices. An amusing episode that just occurred was Geithner's unwillingness to answer the simple question of whether foreclosures will result in higher or lower home prices.

Full webcast below

 


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Thu, 12/16/2010 - 12:15 | Link to Comment iota
iota's picture

Hon. ?

Thu, 12/16/2010 - 12:21 | Link to Comment Sophist Economicus
Sophist Economicus's picture

They would have put 'SWEETIE', But it takes up too much space

Thu, 12/16/2010 - 15:37 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

Hon is the new term for tax evading Tim.

Thu, 12/16/2010 - 17:03 | Link to Comment DaveyJones
DaveyJones's picture

I think it's short for Ho Chi Minh

Thu, 12/16/2010 - 12:22 | Link to Comment SheepDog-One
SheepDog-One's picture

That 'Honorable' crap with all these crooks just makes me puke.

Thu, 12/16/2010 - 12:25 | Link to Comment Rick64
Rick64's picture

I second that. It should be "the despicable".

Thu, 12/16/2010 - 12:47 | Link to Comment downrodeo
downrodeo's picture

Yeah, i just about spit my coffee all over my keyboard when I saw that. we live in bizarro world.

Thu, 12/16/2010 - 13:10 | Link to Comment Miramanee
Miramanee's picture

@ coffee spittage

Lol and agreed. I cannot watch Geithner talk. Nor frankly Obama, as I couldn't listen to Bush either. The fact that they are all lying, all of the time, should be no surprise to anyone. They see lying as central to their work. BUT, the fact that so many people believe them...this I find difficult to bear.

Thu, 12/16/2010 - 12:33 | Link to Comment Atomizer
Atomizer's picture

Printing error. Should say Con.

Thu, 12/16/2010 - 12:56 | Link to Comment iota
iota's picture

Now it makes sense.

Thu, 12/16/2010 - 13:43 | Link to Comment crosey
crosey's picture

Tim brought it with him.  Looks like a home-made job.

Wed, 12/22/2010 - 11:58 | Link to Comment iota
iota's picture

Oh man, Elves; they're such cheeky little cunts.

Thu, 12/16/2010 - 12:17 | Link to Comment jahbless
jahbless's picture

Henchman Of the 'Nank

Thu, 12/16/2010 - 12:20 | Link to Comment ranrun
ranrun's picture

It is always amazing congress goes to the source of the problem for the solution.

It boggles my mind how much these people talking about demand.  Demand is infinite!  We are 13 trillion in debt and these dickwads think there isn't enough demand?!?!  Maybe we are bankrupt?

Thu, 12/16/2010 - 12:22 | Link to Comment SheepDog-One
SheepDog-One's picture

Theyre confused why those reduced to coolie wages arent snapping up a damn mortgage payment like mad.

Thu, 12/16/2010 - 12:27 | Link to Comment Worker Bee
Worker Bee's picture

Buuuuuuutttt Timmmyyyy! All us congress critters can afford houses ! Why can't the serfs?

Thu, 12/16/2010 - 12:37 | Link to Comment ranrun
ranrun's picture

Timmmaaaaaaaahh!

Thu, 12/16/2010 - 13:12 | Link to Comment iota
Thu, 12/16/2010 - 17:07 | Link to Comment ranrun
ranrun's picture

the parallels that the institution (south park elementary) thinks timmah just needs some drugs and the normal people (south park students) think it is obvious that he is retarded is amazing.  you couldn't have a better analogy for congress relation to the america people and the country's current situation.

Thu, 12/16/2010 - 12:22 | Link to Comment Bagbalm
Bagbalm's picture

Honorable? This little weasel couldn't make it as a pimp. His whores would kill him. If they post a video of him dying screaming like a little girl I'll bust a gut watching it. I'd be nastier but it is a public forum.

Thu, 12/16/2010 - 12:26 | Link to Comment Mercury
Mercury's picture

That's the *honorable* Timmmmmaaaaaaaaaaahh !!

Welcome to the recovery everybody.

Thu, 12/16/2010 - 12:23 | Link to Comment Rick64
Rick64's picture

 Never answers a goddamn question always evading and tooting his own horn. This guy can't do his own taxes and he is head of the treasury. Fucking unbelievable.

Thu, 12/16/2010 - 12:23 | Link to Comment TexDenim
TexDenim's picture

The doctors should have removed his brain instead of the kidney stone.

Thu, 12/16/2010 - 12:25 | Link to Comment Sophist Economicus
Sophist Economicus's picture

One and the same organ in this case

 

 

Thu, 12/16/2010 - 13:44 | Link to Comment crosey
crosey's picture

Tex, just love your avatar.  Want to buy her a box of sweaters.

Thu, 12/16/2010 - 15:08 | Link to Comment MachoMan
MachoMan's picture

I was thinking more like a harmonica...

Thu, 12/16/2010 - 18:14 | Link to Comment TexDenim
TexDenim's picture

Denise Milani, lots of her photos on the web. She's a doll. And the jugs are real.

Thu, 12/16/2010 - 20:56 | Link to Comment eatthebanksters
eatthebanksters's picture

I googled her...what a pair of funbags!

Thu, 12/16/2010 - 12:24 | Link to Comment bob_dabolina
bob_dabolina's picture

I hope his kidney stones passed safely out of his asshole.

Thu, 12/16/2010 - 12:24 | Link to Comment SheepDog-One
SheepDog-One's picture

Little PRICK!

Thu, 12/16/2010 - 12:27 | Link to Comment the not so migh...
the not so mighty maximiza's picture

Fuck him and his Turbo Tax software.

Thu, 12/16/2010 - 12:28 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

The 'Hon.' is an abbreviation for Honest. And, in a world where black is white and white is black, they don't come more honest than Geithner.

Thu, 12/16/2010 - 12:31 | Link to Comment LMAO
LMAO's picture

For those who didn't have the time, here's the summary:

"Erm, heh....emmm"

"I don't know if...erm...ehh"

"I'm not at liberty to discuss...erm...ehhh"

"We had these extraordinary successful stress tests....ermmm, data showing ehhh, great ermm..."

"We cannot legally use...ehrm...ehhhh"

"Law firms ....ermmm, advise....heh..

On top of that (for all you PM lovers) enters "Mr. Silvers" ...what are the odds?!

LMAO

Thu, 12/16/2010 - 12:59 | Link to Comment SilverIsKing
SilverIsKing's picture

Was it Phil Silvers?  I've always liked that guy.

Thu, 12/16/2010 - 12:33 | Link to Comment Confused Indian
Confused Indian's picture

WHy FTSE futures plunged all of the sudden with no impact on any other index?

Thu, 12/16/2010 - 12:37 | Link to Comment SheepDog-One
SheepDog-One's picture

Software glitch in the empty market Skynet operating system?

Thu, 12/16/2010 - 12:41 | Link to Comment FunkyMonkeyBoy
FunkyMonkeyBoy's picture

I can't trade FTSE 100 futures either...

 

... oh, wait, it's back now. But yes, i did see the FTSE 100 drop approx. 40 points on the close.

 

Broken as hell this 'market' is, being held together with The Bernank's glue-like jizz.

Thu, 12/16/2010 - 12:36 | Link to Comment Racer
Racer's picture

Hiding 'Orrible Nasties Tax Cheat Timmay slinks and slimes

Thu, 12/16/2010 - 12:38 | Link to Comment goober
goober's picture

Double speak extraordinaire ! These motherfuckers make me sick. I have been in confernce in back room judges chambers where all the lawyers say " we are all honorable men hear" when someone suggest's they are lying in the court procedures and been threatened with contempt more than once? The entire system is a bad fucking joke and there are no honorable men at least not in power! The entire thing is all about money and power/control. Fuck em all. Let's start over tomorrow. Let the prosecutions/executions begin.

Thu, 12/16/2010 - 12:58 | Link to Comment ReeferMac
ReeferMac's picture

+1 Goober, hang 'em high!

I can't believe there isn't a Baliff or some other authority figure that can lean over and inform Timmah that if he doesn't answer the nice man's questions, he's going to Jail!

Thu, 12/16/2010 - 12:37 | Link to Comment yabs
yabs's picture

this guy is more of a weasel than the bernanke and thats saying something

He is a bankers gimp

Thu, 12/16/2010 - 12:42 | Link to Comment Worker Bee
Worker Bee's picture

Obama: Bring out the Gimp.
The Bernank: Gimp's sleeping.
Obama: Well, I guess you're gonna have to go wake him up now, won't you?

Thu, 12/16/2010 - 12:43 | Link to Comment Terminus C
Terminus C's picture

Timmeh, " You can't let large financial and auto industries fail in a major financial crisis.  It would cost far too many jobs."

 

My question to Timmeh is, if financial institutions (major ones) are ready to fail, would that not necessitate a 'financial crisis'?

In other words, is it possible for major financial institutions to be insolvent and not be in a financial crisis?

He essentially admitted that the financial industry cannot be a free market.  The panel completely let that one go...

Makes me want to cry... or kill, not sure which yet.

Thu, 12/16/2010 - 13:29 | Link to Comment ExpendableOne
ExpendableOne's picture

Cry, kill??  Yes!

I used to think these clowns perhaps were some sort of evil all knowing cabal.  Now, it's pretty obvious they are a bunch of evil know nothings in a cabal.

Thu, 12/16/2010 - 12:39 | Link to Comment virgilcaine
virgilcaine's picture

Beavis look alike..

Thu, 12/16/2010 - 12:44 | Link to Comment williambanzai7
williambanzai7's picture
Thu, 12/16/2010 - 13:02 | Link to Comment SilverIsKing
SilverIsKing's picture

As always, nice work WB.

Thu, 12/16/2010 - 12:44 | Link to Comment Kilgore Trout
Kilgore Trout's picture

God bless us every one.

Thu, 12/16/2010 - 12:44 | Link to Comment Rick Blaine
Rick Blaine's picture

+1 to the comments above...

The "honorable?"  He actually gets that title?

Are you $&@^ing kidding me?

It's just more proof that I do in fact live in The Matrix.

 

Thu, 12/16/2010 - 12:48 | Link to Comment Xibalba
Xibalba's picture

He's definately on the Naughty list

Thu, 12/16/2010 - 12:50 | Link to Comment Worker Bee
Worker Bee's picture

Oh shit Watters shoots one across the bow! I'll translate " Is our entire financial system held together by duct tape and bubble gum?" Timmmaaahh" Stress test..uh...err..well..yea, stress tests"

Thu, 12/16/2010 - 12:52 | Link to Comment Terminus C
Terminus C's picture

yea, evade much timmeh?

Thu, 12/16/2010 - 12:53 | Link to Comment Xibalba
Xibalba's picture

The redhead behind him is his fluffuer

Thu, 12/16/2010 - 12:53 | Link to Comment tecno242
tecno242's picture

Oddly enough.. I've noticed in areas that were hard hit with foreclosures and short sales during the big down turn... foreclosures tend to have the most bids and sell at the highest prices.

The banks are better at attracting a bidding war, getting the most out of the bidding process and selling an empty cleaned up home than people are with their crap in it.

Thu, 12/16/2010 - 21:16 | Link to Comment eatthebanksters
eatthebanksters's picture

Techno, maybe you are witnessing an aberration in a small geographic area...recent NAR info indicates that distressed sales are sold at prices averaging 30% below non-distressed inventory.  Short sales have destroyed the market.  Timmeh can't even figure out the reason why banks have slowed down foreclosures is because between actual inventory and shadow inventory, there is so much supply, that the market is continuing downward with respect to pricing.  At this point foreclosing becomes self defeating for the banks as more homes are underwater with every incremental drop in price and more foreclosures further the cycle.  It's actually getting to the point where lenders will start offering at least small principal reductions...its cheaper than waiting 2 or 3 years with no payments to foreclose on a house.  BTW, Timmeh is only saying what he's saying to protect the banks...he doesn't know shit and ultimately they will all go down the tubes because of their stupidity ( why lie about something that is a lost cause unless you're too stupid to figure it out?)

Thu, 12/16/2010 - 13:00 | Link to Comment toathis
toathis's picture

Geithner helped save America from the brink... I am glad he wasn't fired.

The recovery is ubelivable. We have much to be thankful for this holiday season.

America is getting stronger again. I shouldn't have bought Gold/Silver for my family this Christmas... IT's COLLAPSING... VIOLENTLY!

Thu, 12/16/2010 - 13:09 | Link to Comment economessed
economessed's picture

Well, I agree with you in part:  the recovery IS unbelievable.

I don't believe it at all.  More to the point: we don't need to let our beliefs do the heavy lifting for us -- we can just look at facts.  And my assessment of the facts say we are in the terminal state of a debt-financed prosperity bubble.

Thu, 12/16/2010 - 13:22 | Link to Comment Exposer of Inte...
Exposer of Internet Shills's picture

Ah... My nose has sniffed out a FED SHILL

babypoop ... go back to your dungheap and stick your head back in

Thu, 12/16/2010 - 13:31 | Link to Comment Terminus C
Terminus C's picture

I am convinced Toathis is the Ben Bernack... though maybe he is teh Timmeh... his posting did come after the hearing...

 

Thu, 12/16/2010 - 13:45 | Link to Comment samsara
samsara's picture

Again,  Sarah? Is that You?

Thu, 12/16/2010 - 13:05 | Link to Comment Problem Is
Problem Is's picture

Timmay: What a Maroon!
HAH-AH-HAH-haha-hahaha-ha-ah-hah-ha...

What an Ultra Maroon...

Maroon: definition -- A term of derision often uttered by Bugs Bunny when referring to an interaction with a dopey adversary. It is a mispronunciation of the word "Moron."

Thu, 12/16/2010 - 13:05 | Link to Comment goober
goober's picture

Geithner helped cause the brink and Hank consumated the deal.

Thu, 12/16/2010 - 13:07 | Link to Comment toathis
toathis's picture

market is 80% off the lows. the "double-Dip" fear mongering was a total waste of time...CNBC was right! Warren Buffet was right!

I seriously did buy some silver for my folks this holiday... I thought you people were serious about your dooming... (no troll) (I am not lying)

Thu, 12/16/2010 - 13:17 | Link to Comment economessed
economessed's picture

I thought you people were serious about your dooming...

So let me see if I understand -- you just listen to whatever goes through your ears (CNBC, and WB) or eyes (every anonymos posting on the internet) without any critical thought?

In that case, I have a book I'm selling that will tell you how you can lose weight, increase your income by 30%, and improve your gas mileage by 45% for the sacrificial price of $399.  Paypal me the cash, I'll get your copy in the mail immediately.

And no, that dress does not make you look fat.

 

Thu, 12/16/2010 - 21:25 | Link to Comment eatthebanksters
eatthebanksters's picture

I think Chris Whalen and Janet Tavakali are pretty smart and righteous people...I think they see the future pretty well and it does not bode well for big banks.

Thu, 12/16/2010 - 13:21 | Link to Comment economessed
economessed's picture

.

Thu, 12/16/2010 - 13:23 | Link to Comment Exposer of Inte...
Exposer of Internet Shills's picture

It is your duty as a Fed Shill TO LIE... you stinking liar

Thu, 12/16/2010 - 13:04 | Link to Comment yabs
yabs's picture

the honorable gimp.

 

Thu, 12/16/2010 - 13:06 | Link to Comment Worker Bee
Worker Bee's picture

Faster than the wallpaper in moms basement where your typing from?

Thu, 12/16/2010 - 13:11 | Link to Comment digalert
digalert's picture

Would turbo Timmy make a good jail bitch?

Thu, 12/16/2010 - 13:14 | Link to Comment iota
iota's picture

Abso-fucking-loutely! Those aren't ears, they're handles.

Thu, 12/16/2010 - 13:32 | Link to Comment tamboo
tamboo's picture

heh heh, dishonorable zionist joo is more like it.

TOWARDS A CASHLESS SOCIETY

GEITHNER’S CALL FOR A GLOBAL REGULATORY BANKING SYSTEM

http://www.realjewnews.com/?p=331

Thu, 12/16/2010 - 13:20 | Link to Comment goober
goober's picture

80% off lows based on what? More lies and bogus reportings or simply QE in form # 8 or so? Get real! Which gov agency is paying you and how much per post ? Keep it up and it won't be long and some form of the IRA will show up in US ? People are quite fed up with the lies and double speak you and Timmy are spouting when they can clearly see reality is a very different story? Markets up certainly does NOT mean all is well, just a continution of the illusions. Your game is nearly up. All the facts tell a very different story than your denials, pump BS. 

Thu, 12/16/2010 - 13:23 | Link to Comment yabs
yabs's picture

toathis

I seriously doubt it will continue

we had a new hindenberg omen yesterday

Thu, 12/16/2010 - 13:28 | Link to Comment goober
goober's picture

By the way, Buffet, is a poor example. Unless you are fine with more doublespeak. 3 strikes and your out cousin! You have about as much credibility as my cat, maybe less?

Thu, 12/16/2010 - 13:32 | Link to Comment yabs
yabs's picture

tamboo

very good

I have noticed that only Zionist Joos get voted as Times man of the year

Thu, 12/16/2010 - 13:58 | Link to Comment toathis
toathis's picture

aren't you worried about getting reported for talking like that? Just saying... they have laws on the books against Hate Speech. I respect your right to free speech, but just be careful, people can get in trouble!

Thu, 12/16/2010 - 14:25 | Link to Comment karzai_luver
karzai_luver's picture

wellllllll, with that out of the way I can sleep at night , you idiot.

timmay the ass and you latched onto his pole make the purfect team.

 

go to it.

 

Thu, 12/16/2010 - 13:34 | Link to Comment buzzsaw99
buzzsaw99's picture

That guy signs our money. If that isn't an indication of its true worth then I don't know what is. Egad.

Thu, 12/16/2010 - 13:51 | Link to Comment D-Falt
D-Falt's picture

Oh come on, guys.  Turbo's honorable every year.  From Jan 1 through April 14.

Thu, 12/16/2010 - 14:28 | Link to Comment Eagle Keeper
Eagle Keeper's picture

I wish you wouldn't put Timmay's picture up here. Every time I see it I want to puke and then my blood pressure spikes.

Thu, 12/16/2010 - 19:50 | Link to Comment Bruin4
Bruin4's picture

If it was a photo of his head on a stick....I bet that would calm you down...me too

Thu, 12/16/2010 - 14:45 | Link to Comment slvrizgold
slvrizgold's picture

Slvrizgold bitchez.

Timmay would make a good lampshade or candle imo.

Thu, 12/16/2010 - 18:04 | Link to Comment rwe2late
rwe2late's picture

 Perhaps the "best" (astounding) quote from Geithner:

"The overall [bailout] costs will be incredibly small in comparison to almost any experience we can look at in the United States or around the world."

- Geithner told the Congressional Oversight Panel that the cost would be under $25 billion.

(quoted at Huffpost.)

Thu, 12/16/2010 - 20:52 | Link to Comment eatthebanksters
eatthebanksters's picture

This guy is a blustering, lying, corrupt shitbox...I now know why he is lying for his bankster buddies; he knows if the go to jail, he goes with them.  I never thought I'd say this, Via la revolucion', baby!  These guys have to be brought down.  And people call Russia a Thugocracy...

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