The Angel & The Anti-Christ Part 2 (Warren Vs. Geithner)
In honor of today's embarrassment for Turbo, I threw together a collection of special moments involving Dr. Elizabeth Warren kicking Tim's ass.
----------
Video: Dr. Elizabeth Warren torches Geithner over AIG payouts at par -- short and sweet
See The Angel & The Anti-Christ Part 1 >>
Video: Warren to Geithner "It's about accountability!" -- awesome
Video: Warren makes Geithner squirm over AIG and Goldman Sachs -- heartwarming
----------
(Transcription and commentary from James H):
Warren just asked the auto bondholder vs. AIG CDS counterparties question and it's gettin' snippy.
Turbo says:
- "You've had your whole life to study this and think it through so you know more about this than anybody.."
But it wasn't a compliment. Fun to watch him squirm. Still infuriating that he won't answer the freaking question.
Warren says:
- "Are you saying that you couldn't find a way to pay less than 100 cents on the dollar [with the banks], but since you could find a way with the auto industry you did [pay less than 100 cents on the dollar]?"
[cross-talk]
Turbo:
- "Of course not, I mean we woulda done that in a second if we coulda done that...
"Ultimately, he swung around to the old standby --
- We were working to save the financial system and bring stability to the system... and if Goldman et al. didn't get 100 cents on the dollar, well.... it would have hurt Main St. enormously, blah blah blah it was very complex, blah blah blah And we had to make a .... (wait for it)... judgement. So piss off...
Just before that, EW asked whether Treasury and the Fed were in contact with AIG counterparties before the taxpayer CDS payout. It got super duper snippy at that point:
- "In contact about what?" "What are you getting at?" "I was at the Fed, you know, not at Treasury.."
I think he even resorted to using the word "premise" -- but he couldn't find a nail to hang it on. Warren pushed him, and he just kept squirming. Next time, try using two or three nails, Ms. Warren.
That's an exact transcription above, but I can't tell if Timmy said "No, it's not the case that we couldn't figure out how to pay less than 100 cents on the dollar," or if he said "Yes, we couldn't figure out how to do anything but give Goldman, UBS and SocGen 100 cents on the dollar."
So which is it Timmy, are you a dumbass who's never heard of negotiating, or did you just make a "judgement" to sidestep congress and give away loads of taxpayer money for free?
Well, which is it punk?
----------
Jan 7, 2010 at 6:59 PM
Reader Comments (5)
The Angel & The Anti-Christ part 1
http://dailybail.com/home/dr-warren-is-still-waiting-for-geithner-to-answer-the-questi.html
Don'y you love those words?
It is always so important to get to the "who" when the experts use insanely nebulous terms like these. Be specific, Timmy. Who are they? What does Cataclysmic mean to you? Do you even know? Be specific, what exactly would have happened? If you can't answer that then there is no way to know if your solutions did anything at all. No way.
But, if you are interested in doing nothing more than adding to the wealth of you and your bloated, fat-cat friends while adding to the cocoon of protection surrounding you and the moderately talented and mostly incompetent in your club, then no better way than to use big, scary, undefinable terms to scare the network TV watchers. What a cool game.
we suffer from a perverse form of 'stockhom syndrome' where we have come to believe (after brainwashing) that if we hurt Wall street and the big banks then we are ultimately hurting ourselves and the economy...
bill moyers and his guests discussed it friday night...i'll be posting that clip in the next few days...