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Watch Today's FCIC-Banker Hearings Live Commercial Free
Watch the Financial Crisis Inquiry Commission's grilling of Blankfein, Dimon, Mack and Moynihan live and turbofan enginge commercial free at the FCIC's website here.
Full panel of testimonies:
Wednesday, January 13
Panel 1
Mr. Lloyd C. Blankfein
Mr. James Dimon
Mr. John J. Mack
Mr. Brian T. Moynihan
Panel 2
Mr. Michael Mayo
Mr. J. Kyle Bass
Mr. Peter J. Solomon
Panel 3
Dr. Mark Zandi
Dr. Kenneth T. Rosen
Ms. Julia Gordon
C.R. "Rusty" Cloutier
Thursday, January 14
Panel 1
Honorable Eric H. Holder, Jr.
Honorable Lanny A. Breuer
Honorable Sheila C. Bair
Honorable Mary L. Schapiro
Panel 2
Honorable Lisa Madigan
Honorable John W. Suthers
Ms. Denise Voigt Crawford
Mr. Glenn Theobald
»
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or here if you like a free standing WMP
mms://wms-rbn-sea010.rbn.com/cspan/cspan/wmlive/cspan2v.asf
Here comes the official lies and manufactured alternative reality in heaping doses for those who wish to believe. The only question is who will be the sacrificial lambs and patsies brought to the alter of public opinion for slaughter.
As Mulder's poster on the wall famously said " I want to believe". Do you?
http://www.imdb.com/title/tt0443701/
Listening and watching the testimony of Lloyd Blankfein of Goldman Sachs under oath this morning on CNBC is one of the biggest jokes in the history of Wall Street.
The vampire squid bullshit artist is at it again.
dimon appreciates the invitation to be there today...
Dimon just fired a shot against Glass Steagall....
There I was thinking how Dimons eloquent elocution is reminiscent of Rocky, and it was Rambo all along.
How does a drip like this come to be heading a financial institution?
Furthermore, accepting these insitutions destroyed more wealth in 08 than the industry created in its history, why arent we talking how many years penal servitude they owe the public instead of how much compensation?
What time does this circle-jerk circus begin?
Can't wait to see Timmy. The Treasury release a press release with high level details of his speech.
http://i49.tinypic.com/9gxzjm.jpg
I . . . can't . . . watch . . . this! Already too pissed off to voluntarily witness live more guano being fed to the, mostly, mushroom (you know, keep 'em in the dark and feed them s***) citizenry.
I doubt their will be any "grilling" of these executives, the trick will be to ask questions that do not expose the mutual corruption of the bankers and politicians to the public. Won't waste my time watching thank you very much.
Hope they wore their hip boots, the bullshit is flying and getting deep. They need some dude in the audience to hold up a "Jump you Fuckers" sign.
lb...remember what i told you. keep sad face on. be apologetic. talk about charitable giving. bite your tongue when you want to say "we're the squid and we can take whatever money we want"... don't say you are free from gov't help because of TLGP (irrespective of David Viniar's nonsense)....make sure the prop monkeys do not run up the banks today, that's kind of another slap in the face ( like they did when your puppet Obama spoke at Federal Hall)....lastly, like a good football coach who is ahead in the game (and we know GS certainly is ahead on the money count), keep running out the clock.
helluva job blanky!
I dunno, Phil seems to be asking some pretty good questions regarding the selling and simultaneous shorting of MBS. He has lloyd up there sounding like a blubbering idiot.
Lloyd Blankfein looks almost exactly like the Smelly Yellow Man in the movie Sin City. It just struck me during the hearings. Perhaps a contributor to the site can post a photo comparison.
http://i48.tinypic.com/2m4snbn.jpg
Blankfein seems pissed as shit.
He IS shit!
Good. Phil isn't taking his crap.
He needs some coaching on how to hide disdain. It's pretty obvious he sees himself as the captain being questioned by the swabbies.
Just pay attention (if you can) to his intonation and his facial expressions. He clearly shows disgust and disdain towards those who ask him the questions. IMHO, this will turn out as a PR disaster for Blankfein, and subsequently for GS. Shit, i might even write a post about it once today's hearing is over. Oh, snap, he just admitted NYFED employees who work in GS building socialize daily with the firm. OH.SNAP.
he hasn't been listening to my coaching for the past several months.
now, when he finally contacts me (zhdeadhead at gmail dot com), the phucking price is going up.
lb....you said "The system clearly needs to be structured so that private capital, rather than government capital, is used to stabilize troubled firms promptly before a crisis metastasizes."
Don't use those big words because it pisses everybody off. Plus, you're not an oncologist.
Cheeky...please DO write a post.
Or maybe you could help Cheeky and ZH craft the long-awaited response to Goldman Sachs rebuttal to the original ZH assertations that were posted on this website?
Why ask new questions when you haven't answered the old ones?
He apparently is incapable of answering a question with a yes or a no. BTW does anyone else smell sulfur?
This is the best comedy I have seen ever. It make Goldman out to be the biggest assholes on the planet. Blankfein is playing the victim...It is comedy and I cannot believe he is lecturing the Senate.
If anyone give me a resume with Goldman Sachs on a reference there is no way I will hire them.
When the revolution comes this guys are going to pay a very heavy price! They are the nobility before the French Revolution...Stalins Officer Corps before the 1930's purges...the old guard before the Cultural Revolution.
You know that those are not reassuring analogies for the rest of us, never mind the i-bankers?
Lloyd is like Dutch Shultz, and Jamie Dimon is Lucky Luciano.
SCORE on the Acts of God vs Acts of Men comment, Bravo.... Shut up the little squirming weasel.
Blankfein = really angry to be there. Acts like a total douchenozzle. Totally unrepentant. Talks over Phil A. Behaves like a child getting scolded. What an asshole.
amused the vic pandit was not invited.
love that when Lloyd is challenged his voice rises about an octave (sounds like a teenage girl).
Shut the hell up Thomas and ask a damn question.
Thomas is crazy like a fox - he's trying to set the ground rules
Absolutely agree about the incompetency of Bill Thomas. I've never heard so much rambling, pointless bullshit in all my life. He's babbling like an idiot, without accomplishing a single point or asking any meaningful questions.
What a bunch of nonsense! Lots of words that add up to nothing.
ZH you need a permanent link to this
Thomas just made an open offer to the public
submit a question to the vice chaiman
bilthomas@fcic.gov
Who is this Bill Thomas guy? He sounds worthless....
He's a Republican lackey. One of Bush's good ole boys. Complete idiot.
Did the Vice-Chair just give us his email address and offer to take our questions to these hucksters?
Bill Thomas @ fcic . gov
Tyler? Marla? Can you jump in there for us?
HELP!!! i can not shovel the BS they are saying out of here fast enough.
...................
Am.........
........going
...................under
..............................deep
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....................................................
BORING AND WORTHLESS...
YOU WILL NEVER FIND OUT THE TRUTH IF YOU DOT ASK THE RIGHT QUESTIONS!!
So we have a group (Congressmen) guilty of accessory to a crime presiding over a panel of criminal offenders (bankers) to determine the exact nature of the crime they both committed.
Of course the target audience for this charade will view it as a public stoning to prevent them from pointing fingers at Congress.
“The rules are simple. They lie to us, we know they’re lying, they know we know they’re lying, but they keep lying anyway, and we keep pretending to believe them.” Elena Gorokhova, A Mountain of Crumbs
Caught Fleck on Bubblevision this morning.
Fella is one of my favorite 'set-up' artists. No one knows the future but the great ones can decipher the set-up, that is, knowing why something is going to happen without knowing exactly how it will play out. Generally spot on, with the specifics left to fate.
Fleck's summary : what were they thinking when they allowed such leverage against illiquid assets? Eventually reality will mark the assets regardless of the Federales' efforts.
Truth that.
The Fed is at 43 times assets to capital. WSJ reports that the Fed's equity could be wiped out by just a 2.8% drop in the value of its Treasurys and securities.
So a leveraged hedge fund with a book of derivatives that have a notional value of about 2%, that is not valuing its' collateral at market rates, golly better hope that hedge works. What? There is no hedge?
And that is why ladies and gentleman this humble blogger thinks the venerable Mr. Grant may be as incorrect about his zippy V as he was about his AIG call ... and for exactly the same reasons.
The fundamental question of these times : Were they criminally stupid or stupidly criminal? My gut says both.
At the same time, to channel Chris Rock ... I understand.
When the barbarians are at the door you save the silver first, 'tis an entirely human response.
That reality need be balanced however with another; without prudent regulation Marx was right.
A summation of our 'I Can't Believe It's not Capitalism' plan in response to the 'What just Happened' crisis?
Pay it Backwards.
The next generation is paying us to paper over the inevitable creative destruction that must occur and that will occur.
It is our destiny.
Wait for it.
The problem is that all these crooks ever get is a "grilling", tounge lashing" etc. They get to keep the money of course and go about their merry business behind closed doors. Those congressmen will never get so indignant as to actually pass any meaningful legislation and will always welcome Goldmans lobby firm even as they pretend to be fed up with it all.
Veterans get lip service and bankers get billions
Ratigan: If we must resort to handouts, let's put them in deserving hands
http://tinyurl.com/yk4kr93
THIS IS A WHITEWASH OPERATION...
QUITE OBVIOUS...
a waste of time to watch it.
"We know there are some areas that we need to work on and we have already taken steps to ensure that we wont get caught agai.. *cough* *cough* *cough*... excuse me... That we wont have the problems again in the future."
Dimon: "House prices going down is the only scenario we missed in our pre-crisis stress tests"
I think I'm gonna go throw up now
yup....in other words, we wuz all screwin' a pooch but nobody assumed we wuz all screwin' the SAME pooch. Hilarious theater.
You would learn more about the financial goings-on by watching Sesame Street. Totally waste of time, they are all in bed with each other trying not to ask the other to roll over. Now the public can see what is wrong with the country....no leadership
Nobody has asked what their risk ratios NOW are compared to pre-crisis levels, VaR, how they've achieved their profit levels this year etc. They're sorry for nothing and they've learned nothing.
DavidC
We never felt we were too big to fail...
yeah okay...............
2BG2FAIL – Ultimate Banksters License Plate
http://tinyurl.com/yajzsag
I couldnt watch...a word came to mind ...Disdain...and a couple you beat me to it. (First time using it and now I must find the definition)
Disdain: a feeling of contempt for someone or something regarded as unworthy or inferior
http://www.merriam-webster.com/dictionary/disdain
No one will ever address or attempt to fix the rampant corruption or they would end up dead (one way or the other.) No one has the balls to right the ship. The cargo will be offloaded to life rafts with the ultra wealthy and the rest of us will be left to drown, clawing at each other for some small scrap of wooden plank or water bottle.
It's over.
We are the Titanic.
I often (half-jokingly) refer to the movie "Idiocracy" as a documentary.
In the future, I will refer to it as: "the good old days"...
I just brought that up about 15 minutes ago to my co-worker. Funny you provided it here as well.
Bill Black: Commission Must Demand Answers From Wall Street
"The financial equivalent to the black box is getting the email trail, the losses trail, the compensation trail" from the financial institutions, Black says. "All of this is readily available in institutions we the taxpayers own -- AIG, Fannie, Freddie and other institutions."
http://tinyurl.com/yawhhgp
Why isn't people like Bill Black asking the questions? Yea, I know...
I love this shit. Watching it now and a bit ago Jamie Dimon was asked, "You're making the biggest bet with no consequence to failure."
To which he replies, "There is consequence, you could lose your job or lose your reputation."
I couldn't help but laugh at this, because the question wasn't aimed at Jamie Dimon the person. No shit you, Jamie, could lose your job. And hell you might prefer to disappear into obscurity after you collect your millions. As for your company, to whom the question was proposed, we both know they won't be held accountable. This is just the type of garbage that grinds my gears.
Bass for Tres Sec
Solomom for Fed Chair
I am Anon Baghead
I can't decide whether Blankfein is a weasel or a mouse. He has characteristics of both species.
For those who stopped watching after the 'rock star' banksters left, the last group this afternoon told many truths about what really happened. They even provided proof of NINJA and NO DOC loans and other things the big banksters were pushing to get an how they were willing to pay big $$$ for them.