Sherman To Geithner: Can We Tell America Today That Capitalism Is Back?..Mr. Secretary, Please Answer The Question (Clip)
Jul 15, 2009 at 2:00 AM
DailyBail in Bank Bailouts, bailout rant, bailouts, congress, congressional hearings, derivatives, economy, failed banks, geithner, sherman, wall street

Right at the onset, watch how Timmaaay leans way to his right almost out-of camera and flashes a clown's grin. Charming the Sherminator does not work.  Sherman ("Capitalism Is Back!") has a simple question.  Tim Geithner will not answer it.  Geithner is hedging himself for future trouble.  He doesn't want to make any categorical declarations about future bailouts (because he knows they're coming).  It's the epitome of moral hazard.

Sherman's questions:

Commentary from James:

That "worthless piece of maggot shite" (2:20 mark on WalStreetPro link), Tim Geithner gets smart and sassy with the Sherminator (Rep. Brad Sherman, D-CA). 

Sherman asks Geithner if CDS sold TODAY may be subject to a bailout TOMORROW if the seller goes under.  Turbo refuses to answer and says it would be "irresponsible" of him to answer such a "simplistic" question given the "enormous complexities" of the situation.

Personally, I quiver with rage and indignation when I hear this kind of talk: "Things are very complex - we elites understand them and you peasants do not.  Trust us.  And give us some money." 

What cheek.  What obvious non-sense.  More evidence that your government doesn't give a shite what you or your representatives think.



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