Dylan Ratigan - Destined For Another Disaster

MSNBC Video - Dylan Ratigan on the Lehman Anniversary - Sep. 14, 2011

Excellent short clip from yesterday's show.

Ratigan and panel discuss the three-year anniversary of the collapse of Lehman Brothers and the likelihood of a new and greater financial collapse.

Comments

[Dr. Pitchfork]

Nooooooooooo! The TALF returns!
http://www.calculatedriskblog.com/2011/09/report-geithner-to-propose-using-efsf.html

"On Friday, the European finance ministers will meet, and Timothy Geithner will make an appearance and probably propose using the EFSF like the TALF - from Reuters: Geithner Is Likely to Suggest Europe Leverage Bailout Fund (ht jb) "

OMG, I think I just had another vintage-2009 aneurysm.

[john]

Welcome back Dr.P!

[Cheyenne]

Right on, Dr. P.

Geithner is a freak show act straight out Vaudeville, trotting out the same hackneyed tricks over and over again. What's annoying about Tim, who majored in something weak like international relations, is his addiction to pseudoscientific bullshit. Thus we're forced to suffer through multiple rounds of "stress tests"--three on Lehman Brothers alone. Similarly, he hides behind nonsense talk like "systemic risk" to justify wholly transparent outrages and theft.

The failure of MSM to call him out for the moronic punk that he is stands by itself as a withering indictment of journalism as a profession.

[DailyBail]

Maybe I'm warped, but the Euro-TALF story makes me laugh, for the most part. I could care less as long as we're not the ones getting screwed over by John Mack's wife.

http://dailybail.com/home/matt-taibbi-the-real-housewives-of-wall-street-how-morgan-st.html

IF the Europeans are stupid enough to follow Geithner's suggestion, then let them suffer the consequences.

Now, when TARP 2.0 is resurrected on our shores to save Bank of America, I'm going to have a mild coronary and quit the site for a week. The idea of bailing out Ken Lewis' decision to buy Countrywide and assume their liabilities might kill me. Just saying.

[DailyBail]

I don't know if you've ever seen this one Cheyenne...it's a great read on Geithner's performance at the IMF from the mouth of the former PM of Australia.

http://www.smh.com.au/opinion/obamas-economic-saviour-savaged-as-keating-lets-rip-20090306-8rk7.html

[Cheyenne]

Hadn't seen that piece, DB, but it's a good one.

"China, in particular, drew hard conclusions from the IMF's mishandling of the Asian crisis. It decided that it would never allow itself to be dependent on the IMF, or the US, or the West generally, for its international solvency. Instead, it would build the biggest war chest the world had ever seen."

Brrrrrr...

I also like how Richard Shelby, who I'd guess knows more about banking than anyone else in the Senate, shows up early on in the piece as a Geithner fan. Yuk. Such is our abject state.

Finally, that illustration at the top reminds me of a cross between Willem de Kooning and Pink Panther illustrations. MOMA's got a massive (17,000 sf) exhibit opening on Monday. I hear it's flat-out fantastic, even without PP or the Texas Toads.