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« The Great Market Manipulation: The PPT Did A Job On Me (Clip) | Main | Lunchtime Links (June 30, 2009) »
Tuesday
Jun302009

Righteous Ratigan Attack On Leverage And Regulation Leaves CEA Chair Dr. Christina Romer Mumbling Nonsense (Clip Of The Week)

Dylan Ratigan was brought in last week to assist talking head Mika Brezinski in her interview with Dr. Romer (another clueless Keynesian academic who advocates stealing from your children), who chairs Obama's White House Council of Economic Advisors (CEA).

Ratigan put on the gloves and knocked her senseless.  She thought she could float through with soft platitudes and financial phrasing that would leave Brezinski begging for the next hard break.  Not today, Dr. Romer, not today.

---

Transcript

RATIGAN:  Yeah, I’ll jump in right there and say, uh, Christina, that is fantastic, that is great news, that you’re going to leave risk with those who decide to take the risk in the first place. Can you give me any sense of what the capital requirement will be? In other words, setting a new capital requirement is – sounds great, but again, for a market that was once thought to be highly levered when I borrowed five or six dollars for every dollar that was out there, and even in the peak of the eighties’ takeover boom we were at ten-to-one, we allowed this marketplace to go – in some cases to go forty-, sixty-, even a hundred-to-one in some cases. I’m curious as to what you believe – what your agency believes fair leverage is.

CHRISTINA ROMER:  You know, I think the crucial thing is, that is a topic which is going to be worked out, it’s going to be something –

RATIGAN:  Well, worked out by who, though? That’s – my concern is, because I know that the financial lobby has exploded over the past couple of months into Washington D.C., and my concern is that the size of that leverage will be set by the same people who set it last time, one of which was Hank Paulson, who was at the time the CEO of Goldman Sachs, and went on to be the Treasury Secretary, and then he went on to be able to have a secret meeting where he gave out, you know, a few hundred billion of the taxpayer’s dollars behind closed doors. I’m curious what the new process of setting leverage will be.

 

 

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Reader Comments (6)

Who was the sheep that got sheared there......? I KNOW it was NOT Dylan. That woman is a complete BUFFOON! Is that the best we can do for an economic council member America?
Jun 30, 2009 at 6:58 PM | Unregistered CommenterAin't Bullshittin'
They criminals have so little respect for and fear of the American populace that they routinely put buffoons on as their spokespersons. This will be worked out, Ms. Romer offers vaguely. By Whom? She then proceeds to ad lib unconvincingly. And will there be disclosure regarding lobbying efforts by banks, asks Mr. Ratigan?

OF COURSE THERE WON'T!

Folks if you want a government that is responsive, then DO NOT vote for anyone who is from the two major parties, and who is not for term limits, massive campaign finance reform, substantially shortened federal elections, a full audit of The Federal Reserve, or failing that, the abolition of the aforesaid. This is just for starters. Do you want to take back your government and make it a servant of the people THEN YOU MUST TAKE IT!
Jun 30, 2009 at 9:48 PM | Unregistered Commenteredwardo
"Oh, tolerating [me], that's journalism."

You know, it is a very sad day that the MSM consistently seems to hold this view. Don't bite the hand of you master's manservant. It's insulting that Mika even called Dylan Ratigan out as if his line of questioning was improper. THIS IS THE MODEL ALL JOURNALISTS SHOULD EMULATING! Instead we get puffery, platitudes, and truisms ad nauseum. Living with the Big Lie indeed. This clip reminded me of the recent Rep. Alan Grayson line of questioning with the Federal Reserve Inspector General. It's a shame really.
Jul 1, 2009 at 1:20 AM | Unregistered Commenterspideydouble
Well Great Stuff with Dylan and Fat Slob Ms Romer -What A Tub of Lard. Amen!! Is this the best we have? i worked in WS when it was WS and asked questions all the time. In 2009 most people dont have a clue how to answer they dont know shit. Idiots all. As for that other talking head i would have said- Fuck You and left the set . i quit again.
Mika ??who the fuck is she? She needs something put in her mouth! What a CxxT. Douch Bag!
I hope Dylan Can stay for a while but , i think they will get rid of him as he speaks the Truth Something thats not spoken anymore - Forever. Its 1984, Situation Hopeless and Big Brother owns us . Fuck pictures of Iran show pictures of this POLICE COUNTRY. Guess we forgot both of our conventions and the protest they mostly BLACKED OUT! Worse than Iran
Good Health To All, WS, Minister of Truth , always
Jul 1, 2009 at 12:34 PM | Unregistered Commenterwinston smith
Good comments...it seems the audience gets it but the producers and anchors are unable to grasp the reality...give us intelligent discussion of the issues...
Jul 1, 2009 at 1:51 PM | Registered CommenterDailyBail
"give us intelligent discussion of the issues... "

We'll not be having any of that on TV or the interwebs!
Mar 9, 2013 at 9:52 PM | Unregistered CommenterTR

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