WATCH LIVE: Financial Crisis Hearings -- Testimony From Tim Geithner & Henry Paulson

Today's testimony:

Part 1

Part 2

Part 3

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You can watch Hank Paulson's testimony HERE  >>

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Paulson quotes from testimony  >>

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Paulson testified this morning and Geithner is in the FCIC crosshairs now.

From C-Span

The Financial Crisis Inquiry Commission (FCIC) is on its final panel on the “Shadow Banking System”.  Earlier, Treasury Secretary Timothy Geithner stated that the U.S. was “fundamentally inadequate” overseeing financial regulation.  Also Fmr. Treasury Sec. Henry Paulson appeared earlier and noted that the financial bailouts still "remain very unpopular" with Americans.

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Some early reaction to today's testimony:

Paulson defends actions in financial crisis

Ex-Treasury Chief Paulson Says ‘Wolf Pack’ Menaced Bear Stearns

Paulson: U.S. wasn't ready for meltdown

Geithner says crisis could have been milder

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Update on May 6, 2010 at 7:55 PM by DailyBail

Links added

Comments

[Zarathustra]

So DB...who started the market collapse today and then who stopped it???

[DailyBail]

the ppt stopped it with SPOOS futures buying...

it started for many, many reasons...

http://www.huffingtonpost.com/2010/05/06/reid-backs-breaking-up-ba_n_566192.html

the above link is one of them...

[Zarathustra]

DB...The Rothschilds, cool.

[Zarathustra]

Shaking the piggy bank for the next bonus...who got rich today? Will the SEC investigate?

[Zarathustra]

Sure.....that must be it.....

Stock Selloff May Have Been Triggered by a Trader Error
Published: Thursday, 6 May 2010 | 4:02 PM ET Text Size By: CNBC.com With APDiggBuzz FacebookTwitter More Share

In one of the most dizzying half-hours in stock market history, the Dow plunged nearly 1,000 points before paring those losses in what possibly could have been a trader error.

According to multiple sources, a trader entered a "b" for billion instead of an "m" for million in a trade possibly involving Procter & Gamble [PG 60.75 -1.41 (-2.27%) ], a component in the Dow. (CNBC's Jim Cramer noted suspicious price movement in P&G stock on air during the height of the market selloff. Watch.)

[Zarathustra]

I just watched the video...Cramer didn't note suspicious price, he said Proctor was a buy as it was falling. That is the same thing Cramer did before the last collapse. CNB just wanted some press and to direct everyone to their site. They are shit.

[Zarathustra]

Nightly news lying their ass off, shame on them.

[DailyBail]

Paulson, Geithner: Shed light on Wall Street

http://money.cnn.com/2010/05/06/news/economy/Paulson_Geithner_shadow_banking/

[Zarathustra]

Yawn.

[RecoverylessRecovery]

That picture of Paulson praying to Lucifer is scary. OK, ANY picture of Paulson is scary. But THAT picture ...man!