The Angel & The Anti-Christ (Warren Vs. Geithner Video)
Treasury Secretary Tim Geithner testified Tuesday before the TARP Congressional Oversight Panel (COP) headed by Harvard professor Elizabeth Warren. Questions focused on AIG, accountability of bank executives, bailout transparency, and future bank bailouts.
Youtube clips are after the jump.
See also:
Elizabeth Warren Suggests The Bailout Road Less Traveled
Opening statement from Chairwoman Elizabeth Warren (4:25).
Sununu vs. Geithner. Capital ratios and requirements, TARP repayment, and bank recapitalization are discussed (5:57).
CodePink protestors chase Treasury Secretary Tim Geithner from the hearing room rather quickly (1:32).
Warren and TG almost have an interesting exchange over accountability (5:45).
What is the AIG exit strategy? Geithner has no answers (5:20).
Geithner questioned by NY Banking Superintendent Neiman.
Apr 22, 2009 at 2:08 PM
Reader Comments (11)
http://www.bloomberg.com/apps/news?pid=20601109&sid=aE68O.jaWO4E&refer=home
The enitre 1 hour and 36 minute hearing video from Cspan.
http://www.c-span.org/Watch/watch.aspx?MediaId=HP-R-17653
http://www.huffingtonpost.com/robert-l-borosage/arm-the-cop-on-the-bank-b_b_189810.html
http://www.businessinsider.com/does-geithner-have-the-power-to-stop-banks-from-paying-back-the-tarp-funds-2009-4
http://www.huffingtonpost.com/2009/04/21/elizabeth-warren-to-geith_n_189446.html
Well, Tim obviously didn't get hired because of his analytical, mathematical or eloquence skills.
Yes, hes said 5 quarters into this recession in the 4th video at 1:26.
You know, I can't tell if Tim answered a single question. He is definitely a master at obfuscation through use of the passive voice, puffery, tautology and equivocation. That, and he certainly has those talking points to memory where the repetition is painful. To protect the taxpayer. To ensure that the financial system emerges stronger, not weaker. Mumble.
http://www.ritholtz.com/blog/2009/04/portfolio-cover-stpry-on-timothy-geithner/
And for all you Geithner fans, here's the Portfolio cover-story about Geithner that confirms many of your deepest, darkest suspicions. A really fun read.
http://www.portfolio.com/executives/2009/04/22/Treasury-Chief-Tim-Geithner-Profile
"You know, I can't tell if Tim answered a single question. He is definitely a master at obfuscation through use of the passive voice, puffery, tautology and equivocation. That, and he certainly has those talking points to memory where the repetition is painful. To protect the taxpayer. To ensure that the financial system emerges stronger, not weaker. Mumble. "
This is the Slick Willyism I have commented on repeatedly. Geithner is a master of the talking points. He falls back on the same useless truisms time after time as you stated. It's infuriating but no one calls him out on it.
I saw those post on the Big Picture. It is interesting because I KNEW there had to be something at least slightly personal between Whalen and Geithner.
Watch the short Whalen video at the bottom of this story and you will understand why I had my suspicions.
http://dailybail.com/home/2009/3/8/bailout-truth-video-hey-tim-do-us-all-a-favor-and-step-down.html
So now we know from the Portfolio story that Whalen had a fateful interaction with Geithner that is behind Whalen's scathing comments about Geithner in the clip.
I think ultimately that Whalen has always wanted to be Treasury Secretary. And to see the position given to a bureaucrat like Geithner pains Whalen even more. Can't say that I blame him in any way. Whalen is eminently more qualified for this particular crisis than almost any other candidate, yet he's on the sidelines while Turbo Timmy calls the shots.
Did you see Whalen's letter to Turbo challenging him to a public debate over the bailouts (this was around December)? I believe it was posted on Ritholtz's blog. Wow. Brutal, righteous stuff. This debate would have been like a no tap-out cage match with Chuck Liddell. But more bloody.
I have to say, I don't do hero worship. I'm cynical, arrogant and I already have a father I love and respect. But as far as heroes go, Chris Whalen is pretty much tops of my list. Ego? Ambition? Sure. And why not? He's one of the few people in a position to know who is actually sticking his neck out for us. For his country. (Believe me, I don't normally talk like this.) I don't care what Chris Whalen has to gain from being so outspoken and I don't believe "gain" is his motivation. I'm just glad he's doing it. It may -- and I'm not sure that it will -- but his outpsokeness may just pay off at some point in the near future. It is just so plainly obvious that he understands these issues in ways that Timmy never will. (Sununu to Timmy: "I would never mistake you for an investment banker.")