Jay Bookman

By DB, Gwinnettian

November 24, 2008 7:24 AM | Link to this

I also own 50% of Springtime For Hitler AND Prisoners of Love!

By ByteMan

November 24, 2008 7:29 AM | Link to this

Turns out that it’s not quite the rule of thumb that if you print lots of money that you immediately get huge inflation…..

On the other hand, we already owned a chunk of Citi thru the bailout, since they were one of the ones who were first in line with their hand out.

Oh, and we should also make them start selling off assets so that they aren’t “too big to fail”.

By ByteMe

November 24, 2008 7:32 AM | Link to this

Looks like I haven’t used this computer to post in forever…..

By Mike

November 24, 2008 7:41 AM | Link to this

DB -

How can I get in on that action?

By AJC/DNC Management

November 24, 2008 7:47 AM | Link to this

Oblahma’s expected choice for Treasury secretary, Timothy Geithner, the president of the Federal Reserve Bank of New York, played a crucial role in the negotiations on Friday but worked behind the scenes once news of his appointment was circulated. While the initial focus of government officials was to help the embattled company, they may also seek to draw up an industrywide plan that could help other banks.

Those printing presses down at the Mint must be rolling 24 hours a day…

That ain’t the only “bailout” in the works-

David Axelrod, Mr Obama’s chief political adviser, said passing a massive economic stimulus package would be the president-elect’s top priority when he took office in January, amid deepening fears of a long and severe recession.

I guess all that whining about “China” and our “children’s future” was just so much political propaganda, eh?

Bushie will look like the Scrooge before you libs get finished.

By DB, Gwinnettian

November 24, 2008 7:50 AM | Link to this

Mike, just contact the good folks at Bialystock and Bloom.

(Try not to get too distracted by their receptionist… ooh la la!)

By TW

November 24, 2008 7:50 AM | Link to this

Is it safe to say the American fiscal conservative no longer exists? Aside from some hot air here and there from the blow-hards who didn’t have the stones to discipline child ‘w’ as he tore through the house, there is simply no evidence that fiscal conservatism exists above ground any more.

Which leaves the GOP as the party of social conservatism…Dobson? Simple Sarah?

Yuck. No thanks.

By TW

November 24, 2008 8:01 AM | Link to this

Bushie will look like the Scrooge before you libs get finished.

Aren’t you the same poster that said McSame would win? That the gap had closed and the polls were wrong?

Yeah…I think that was you…

By ByteMe

November 24, 2008 8:06 AM | Link to this

TW: his theory is that a clock is right twice a day. Eventually, he’ll get one right if he just keeps on trying….

By AJC/DNC Management

November 24, 2008 8:18 AM | Link to this

By AJC/DNC and RW’s Daddy November 24, 2008 12:37 AM

Is this^^ not the very epitome of a personal attack?

Well, guess who’s comments in response to these attacks the angry blog god removed?

By Full Employment

November 24, 2008 8:18 AM | Link to this

Jay,

That’s the strategy…it won’t be long until half the population is working as printers at the Bureau of Engraving and Printing. The other half will be in the military fighting in the Middle East. Thank goodness we have millions of illegal immigrants to do the reat of the work!!!

lol

By AJC/DNC Management

November 24, 2008 8:22 AM | Link to this

Welcome to the new era in the war on terror-

Risks complicate anti-piracy effort- But experts warn that rescue attempts would be extremely risky, endangering 300 hostages on other hijacked vessels and breaching U.N. mandates, maritime laws and international merchant marine guidelines. -Urinal/Jihad

Gee, I wonder if the pirates checked the UN guidelines?

Be prepared to be held hostage by the women and children killing savages America.

By AJC/DNC Management

November 24, 2008 8:37 AM | Link to this

Oh good, the lib contribution to the blog this morning has been to attack the Governor of Alaska and me.

~~~~~~

Back to the, uh, past-

Eternal energy of the solar kind- Power plant: A Spanish town puts solar panels atop mausoleums to generate renewable energy and fight global warming.-Urinal

It’s almost like having Dhimmi Carter for president again.

Meanwhile, the new superpowers of the world move to consolidate the real energy supplies-

Havana —- Russian oil companies soon could begin searching for oil in deep Gulf of Mexico waters off Cuba, a top diplomat said just days before Russian President Dmitry Medvedev is to visit the island.-Urinal

Got bicycle?

By Wyld Byll Hyltnyr

November 24, 2008 8:48 AM | Link to this

The interesting thing is Timothy Geithner’s appointment and the measure of cheer that it has brought the liberals. Help me understand this: 1) Citi’s parent company was scituate in NYC and regulated by the NY Fed; 2) Geithner ran the NY Fed while it was Citi’s regulator; 3) the NY Fed and Geithner missed Citi’s (very apparent) problems (which see, Tom Brown’s writings)which led to the accumulation of toxic writedowns; 4) the Ny Fed and Geithner were the primary regulatory information sources and participated in the first failed bailout; and 5) the NY Fed and Geithner lsttod by and let Baird’s imcompetence take Wachovia from Citi, which would shored up Citi in the eyes of the market.

Based on this string of events Giethner looks to be less than competent. Why is everyone so high on the guy, his fingerprints are all over the Citi debacle.

Also, as an early 80’s guy from dear ol’ Dahtmouth, I’ll be interested to see how his confimation hearings go as I am hearing a few stories.

By Taxpayer

November 24, 2008 8:49 AM | Link to this

Let’s go over our checklist:

• Mortgage companies - check,
• Insurance company - check,
• Major banks - check.

What else do we need; a major oil company, auto companies, a drug company, a healthcare company…and lots of new signs…

Welcome to USA, Inc.

George Bush and Company (aka BushCo, LLC), you do Hugo Chavez proud. Good job.

By "The Corporal"

November 24, 2008 8:54 AM | Link to this

JAY

Regarding your paper editorial this morning, I would almost give a week’s retirement pay to see you in a live three hour no holds barred debate with any of those radio personalities.

That’s what you really fear.

By leni

November 24, 2008 8:55 AM | Link to this

The search for someone innovative enough to come up with a new economic model has ended. The Somali pirates are showing the world how it’s done. They have about $500,000 or more invested and expect good returns. The best part is they are not subjects of a state. My kind of libertarian. Why they even provide catered meals based on Western taste to their guests. Where can we buy into that biz? Citi had better force all debtors to pay up or work off those credit card bills.

By Full Employment

November 24, 2008 8:59 AM | Link to this

Wild Bill Dumbazz,

Citicorp (the bank) is FEDERALLY REGULATED! By the Comptroller of the Currency.

They are also regulated by the SEC and a few dozen other FEDERAL agencies.

Unfortunately GREED got in the way.

BTW, if you want to continue your ridiculous string of “related” events, why not add “Bush is playing the violin while the economic system collapses!”.

By Ray

November 24, 2008 8:59 AM | Link to this

This team of “economic experts” reminds me of the Little Rascals…. Buckwheat ( you can figure that one out), Spanky, Stymie, Porky, Uh Huh and Alfalfa, gathered ‘round singing a song from one of my favorite episodes,

“We are he/man woman haters We feed little girls to alligators Our clubhouse burned down pretty low But we’ve got a plan to make some dough”.

Government share ownership of Citigroup…… what an idiotic idea by a bunch of “economic experts” in denial of one of the basic principles of economics, that of throwing good money after bad.

By rose

November 24, 2008 9:06 AM | Link to this

When Will It Stop?

Does the world see our country falling apart? We have seen Depression, Recessions many times, wars, high gas prices and great eras in history, which we overcame but can anyone see America coming apart at the seams now? The safety pins, the extra Velcro does not work anymore.

Why are we spending billions in wars when we cannot afford it? Why do we allow companies on Wall St. to determine our destinies and we do not follow up on these things, like when we bail them out? We seem to borrow the money easily just to let the companies do with what they want. Through this all, timing is everything and our President knows he is out and does not seem to rush with any solutions.

There once was an America, who stood stronger than ever, even through the worst of times. We had a leader we trusted his promises and times did get better. There once was little credit and wars were once fought with plans and done quickly.

But more than that, we use to live, a long periods of time in peace. And we looked out for the nieghbors in our country, instead of worrying about the others not being a Democratic government. And the flag of America was most respected, as it should be.

Will our country ever recover?

I think I will spend the holidays not listening to the news.

By Mr Snarky

November 24, 2008 9:08 AM | Link to this

This whole thing is terrible. My father has been a broker for a company owned by Citi for years and has a good chunk of his retirement in Citi stock. Imagine watching your 401k go from $100 to $10 in two months.

The people who were supposed to be monitoring the financial sector should be held accountable for not doing their jobs. It’s hard to conceive of an appropriate punishment, but making them work bagging groceries or at an Arby’s drive through until they’re 70 seems like a good start.

By Mr Snarky

November 24, 2008 9:14 AM | Link to this

Make that “until they’re 80”.

By Mrs. Godzilla

November 24, 2008 9:29 AM | Link to this

Ray

Your bashing of the Obama economic team is pretty much all we need to know how strong and competent those individuals are!

If they say A……then B it is.

By TW

November 24, 2008 9:40 AM | Link to this

And I am most thankful this Thanksgiving that we are not watching McSame put together his economic team.

Whew!

By Let's get down to business

November 24, 2008 10:02 AM | Link to this

This entire credit crisis and de-leveraging process has most of our nation in the throes of a death spiral and so far no one has been able to implement the changes needed to break the overall trend. We need jobs so people can pay their bills and have enough left over to put food on the table at a time when many businesses view jobs as a luxury item. Since businesses are hoarding cash and reducing head count in order to reduce their cash burn rates, job creation does not appear to be in the cards for some time unless the government steps in and provides them.

The bottom line. Trickle-down economics — at least, when we truly need it — is a lie. Look around at the wealthy in our country. What better proof could you ask for. What have they been doing with their “earnings” besides avoiding its taxation through any means possible. Is there so much as a sign of trickle-down investment with the possible exception of a housekeeper or two.

What to do. Unfortunately, in order for the government to provide the jobs, even temporarily while we wait for the private sector to find its legs, it has to print more money at a time when everyone wants to unload their greenbacks. Bush burned through a lot more than just political capital during his tenure and now we have an enormous debt and a huge deficit at a time when we really need to be able to borrow money in order to hold us over until pay day. So, what other options do we have? Well, for one thing, it’s time for some of this country’s cash hoarding billionaires to start paying the piper for their years of excess. Taxes have to go up for those with the cash. No more off-shore hidden accounts and other such shenanigans. No more Republican lies about increasing tax revenues by eliminating tax revenues. Times have changed — we have to deal with the real world instead of this fantasy land that the Republican party has sold to a gullible, naive and ignorant voter.

Then, there’s the war effort and all of its cost. Determination of right or wrong regarding our involvement in Iraq and even Afghanistan does not matter at this point in time. We need that cash here at home so say good bye to that wish list of Raptors and other luxury WMDs and say hello to rationed ammo.

Finally, there are the government-funded programs. We have to cut the subsidies to oil companies and farmers and get rid of waste in all other programs while still meeting our obligations to social security recipients and others. And, that’s just for starters.

Times are tough so suck it up and prove to the likes of Phil Gramm and his ilk that, in spite of their best efforts to destroy this nation, we will prevail. We are not the whining losers — they are.

By getalife

November 24, 2008 10:02 AM | Link to this

Yahoo.

When can I sell my shares?

Told ya this will not end well and we are just getting started.

Happy Holidays!

By lrd

November 24, 2008 10:07 AM | Link to this

As stated before.. I want dividend payments and they should use these stock investments now to pay off our debt… year right, the govt use the money for anything other than spending.. hahaha

By lrd

November 24, 2008 10:12 AM | Link to this

Oh, and why does it seem we are playing Monopoly right now. Except in this case, no one goes directly to jail, people will never go to jail, but they will collect the 200 on their way past go, and as far as properties..is it time yet to pick up property cheap? And if you lose at this game, wont the government just bail you out anyways?

By getalife

November 24, 2008 10:20 AM | Link to this

Well Ga.,

The only accountability you will get for this socialism is to fire suxby.

By mike hussein smith

November 24, 2008 10:26 AM | Link to this

Right you are, Getalife. And in ‘10, we can wipe that smile off Johnny’s face.

By mike hussein smith

November 24, 2008 10:32 AM | Link to this

Great news, fellow shareholders. Our Citi stock (having nowhere else to go) is on the rise this morning. I think it’s now worth at least $5 a share.

By getalife

November 24, 2008 10:35 AM | Link to this

Fed Pledges Top $7.4 Trillion to Ease Frozen Credit

Fire that socialist suxby chambliss!

Happy Holidays comrades!

By Wyld Byll Hyltnyr

November 24, 2008 11:17 AM | Link to this

By Full Employment - 8:59 AM this

You called me “Wild Bill Dumbazz>”

Then you wrote, “Citicorp (the bank) is FEDERALLY REGULATED! By the Comptroller of the Currency.

They are also regulated by the SEC and a few dozen other FEDERAL agencies.”

Shut your pie hole, and, as Herman Cain would say, “you might just learn something.”

Citigroup, Inc. is a bank holding company that owns 100% of its subsidiary, Citibank.

Citibank’s primary regulator is, as you say, the OCC.

The bailout occured at the Citigroup (holding company) level and not at the bank level. Many of the critical problems and issues at Citigroup resulted from issues at non-bank subsidiaries and SIV’s which would lie outside the scope of an OCC exam at the bank level.

Citigroup’s primary regulator was the NY FED. The NY Fed was the singular regulator that has a view of everything going on at Citigroup - not the OCC which examind the bank only.

For you to call me names and then conclude that, “BTW, if you want to continue your ridiculous string of “related” events, why not add “Bush is playing the violin while the economic system collapses!”.* is just ridiculous because the so-called FACTS UNDERLYING YOUR ARGUMENT ARE ABSOLUTELY, 100% WRONG. Methinks, that you owe me and all the blog’s other thoughtful persons of goodwill an apology.

(*BTW, and educated person places the period inside the final quotation mark in this sort of sentence.)

By Greg Mendel

November 24, 2008 11:19 AM | Link to this

Having “invested” much of my income in my business, two kids’ college educations, health care costs, and a Detroit car that refuses to work, I haven’t been able to do much gambling — oops! “Investing” — on Wall Street. So, it’s exciting to be a part of all these “investments” like Citi.

I’m no savvy investor. I’ve always assumed putting money into poorly-managed, loser corporations was a bad idea. But, I’m pleased to be forced to give socialist CEOs and their corporations a handout — oops! “Investment.”

I’m learning about this Republican high-finance stuff. A “handout” is what you give a homeless deadbeat. An “injection” of methadone is what you give a self-destructive druggie. But, you give a corporate board of directors an “injection of capital.”

I’m thinking of putting some money into a cool Nigerian bank deal I saw on the internet. It looks a little fishy, but the “return” seems about the same.

By JAY BOOKMAN

November 24, 2008 11:28 AM | Link to this

Bill, if you want that name-calling post pulled, just say so.

By mike hussein smith

November 24, 2008 11:32 AM | Link to this

The wisdom of Herman Cain is as bad as his pizzas.

By Wyld Byll Hyltnyr

November 24, 2008 11:38 AM | Link to this

Thank you, Jay. You can leave the name calling post as only makes me feel a deeper kinship with Gov. Palin. Thanks anyway.

ps - mike hussein smith - Herman requires even the most ferverent of conservatives to hold his nose - Herman, if you are reading, physician heal thyself.

By cubalibre

November 24, 2008 11:40 AM | Link to this

Wyld Byll, I would think the fact that news of Geithner’s appointment sent the DOW up 500 points would be of more interest to you than how “happy” it made the “liberals” (not sure how you came to that conclusion, but I’ll take your word for it for now). And TW at 9:40 am, I second that emotion!!! (Yes, I’m a Motown fan…couldn’t resist.)

By Full Employment

November 24, 2008 11:56 AM | Link to this

Wild Bill Dumbazz:

Citigroup was following Federal guidelines/GAAP that allowed them to value weak assets at cost rather than market (Google “mark to market”. Ergo their “books” were inflated. They were permitted to invest in risky assets without federal oversight…and the CDO’s and CDS’s should never have been allowed to exist in the first place.

For you to remark about my quotation marks allows me to remark about your first post:

Perhaps you should go back to “dear ol’ Dahtmouth” and try to graduate!

lol

By Wyld Byll Hyltnyr

November 24, 2008 12:31 PM | Link to this

By Full Employment 11:56 AM

You just don’t learn, do you? Yes, I have made mistakes and typos, but my facts are solid.

Your continued ignorance of the situation is evident by the statement, “They (Citigroup) were permitted to invest in risky assets your continued erroneous assetion is that CITIGROUP WAS REGULATED BY THE FEDERAL RESERVE. Hence, had the NY Fed been an effective job as a regulator, then Citigroup should not have melted down as it did. As an aside, you seem to want to blame President Bush for all that is wrong in our country, why not blame NY Fed President Geithner for the NY Fed’s failure to act as an effective regulatory.

Hopefully, this exhange has taught you a few things about banking.One final word, its “Mr. Wild Bill Dumba**” to you.

By kitty

November 24, 2008 12:57 PM | Link to this

Wyld Bill, what part of “CREDIT DEFAULT SWAPS ARE NOT REGULATED” do you not understand?

By rd

November 24, 2008 1:55 PM | Link to this

Well, now that taxpayer dollars are funding their bailout, how about regulating the interest rates on revolving debt that they receive from those who bailed them out? How about capping Credit card interest at 10%?

By Lee

November 24, 2008 2:10 PM | Link to this

Let’s do a “Chainsaw Al” and when we own more than half a bank, merge it with the others we now own, and get rid of the duplicate staff. “We buy, we decide.” Then when the single national bank is running OK again, sell off all the assessts to smaller banks, fire all the remaining staff, and never again have a business that is “too big to fail”.

By SaveOurRepublic

November 24, 2008 2:11 PM | Link to this

WBH, like “Suxby Shameless”, Herman Cain isn’t a real conservative, he’s a Neocon parroting GOP RINO policies like these bailouts.

Rose, may no mistake…the destruction of our (once great) Constitutional Republic isn’t happenstance, it’s very much by design. The Globalist Elite/Kingmakers/puppet ma$ters loathe National sovereignty & have long sought the implementation of a Global Goverment. By removing the last “Superpower”, they’re able to more quickly implement this nefarious agenda.

Hence, we see endless Corporate welfare funded by us taxpayers. While the Fed floods the markets with fiat dollars, “Uncle Scam” continues it takeover(s) of business via taxpayer funding. Wall $treet is a giant ponzi scheme with smoke & mirror “investments” pegged to fiat currency. Now, with Globalist puppet (coinside “B”) coming to “power”, we’ll see government power/size continue to grow at an astronomical rate!

By Wyld Byll Hyltnyr

November 24, 2008 2:39 PM | Link to this

Full Employment

Like banging your head against the wall, don’t you?

First you are correct, I was sloppy and wrote “CITIGROUP WAS REGULATED BY THE FEDERAL RESERVE”, when, as with the first time I quoted you, it should have been, “By the Comptroller of the Currency…..few dozen other FEDERAL agencies.” For that, and only that, I apologize.

As for your considerable banking experience, you state, “I’ve dealt with more Federal, State and corporate auditors….”, which confounds me. You see, other than low level employees, everyone in the banking industry knows that (some) accountants are “auditors” while regulators are “examiners.” Again, your failure to properly phrase reveals your ignorance.

You also write, “And Citi was investing in “legal” investment vehicles and was using GAAP accounting standards. They were in compliance with Federal regs & policies.” Sure the stuff was legal, but the risk was improperly assessed and ill managed. Sure Examiners deal with vilations of law, but most of the work in a safety and soundness exam is designed to identify ineffective risk management and, ol’ pal, Mr. Geithner’s Fed blew it with Citigroup.

As an aside, Tim Long was an old beer drinking buddy during the early 1980s.

By Wyld Byll Hyltnyr

November 24, 2008 2:49 PM | Link to this

kitty 12:57 PM

Kitty, hope you are well. When your wtire, “Wyld Bill, what part of “CREDIT DEFAULT SWAPS ARE NOT REGULATED” do you not understand?” it leads me to believe that you do not fully understand the nature of the credit default market and regulation.

First, credit default swaps are not traded in a “regulated market”, these instruments are “traded over the counter.” An example of a regulated market is the CBOT. The regulated market provides transparency which is a great benefit to all the players. Ebay is, in effect, an over the countermarket which has very little transparency. Some folks, bu not PEOTUS economic advisor Rubin, believe that derivatives should trade in a regulated rather than an over the counter market and that, perhaps, this whole mess could have been avoided if credit default swaps were traded in a regulated market.

Now, even though the individual instruments did not trade in a regulated market, the exposures, once on a finacial institution’s balance sheet, were subject to review by regulators and examiners. in fact, did review credit default swap exposures at Citibank/group. This, ol’ pal, was Mr Geithner’s responsibility to get it right and the NY Fed did not.

Now, please let me know which part of your question I did not understand.

By Let's get down to business

November 24, 2008 3:15 PM | Link to this

Wyld Byll,

You are way off base with your claims regarding Mr. Geithner’s power unless you think he comes equipped with a crystal ball and magical powers. Those items are strictly limited to the executive branch over which King George has claimed sovereignty. If this problem with CDSs were nearly as simple as you would have others believe, then even our current inept administration would have had this problem neatly sewn up and put to rest months ago.

By making

November 24, 2008 3:25 PM | Link to this

I’m ready to sell it…SELL WHAT…that thing I just bought!

By Wyld Byll Hyltnyr

November 24, 2008 3:27 PM | Link to this

Dear Let’s get down to business

The CDS conversation was brought about by Kitty; the risk management control deficiencies at Citi covered a large number of risk types.

This takes us full circle back to where my original post started.

If, as some liberals claim, lack of regulation was a major contributory factor to the current financial crisis, why is Geithner, who was the regulator for essentially all the money center holding companies, held in such high esteem rather than be reviled, as is Paulson who had no regulatory or preventative role, for his failure to properly regulate these problem institutions?

I wrote that and since have been called names, needed to explain who examines whom, had to explain the difference between and auditor and an examiner, and explain the credit default swap continuum, but no one has been willing to explain why Geithner should not be held accountable for the failure of a regulatory agency he ran. Help me understand, please?

By Razmus

November 24, 2008 3:53 PM | Link to this

The negative tone of this blog seems to be ratcheting up on a daily basis. You liberals won the election. Can it be that you are beginning to understand that Sugar Mountain was an illusion and you are now becoming nervous because what you see coming to fruition is not really change? Your man will be swayed by money and power like all politicians. He already is. Good luck everyone and, if you’re not an atheist, pray.

By Rhett

November 24, 2008 3:54 PM | Link to this

Have any of you guys ever thought about becoming politicians to end all the problems instead of simply complaining on a blog? It’s going to get much worse. We ALL need Jesus now.

By SaveOurRepublic

November 24, 2008 3:59 PM | Link to this

Wyld Byll Hyltnyr @ 2:49 PM - Robert Rubin is another Zionist (ala Rahm Emmanuel), Globalist added to “Bacrock Obuma’s” roster. Rubin is VP of the anti-U.S. sovereignty, Globalist cabal CFR.

By RAZOR

November 24, 2008 4:00 PM | Link to this

All this posting about a man who hasn’t taken office. We should be talking about a government who tanked the US in 8 years, allowed multinationals to kill any us manufacturing, feeding the us lies about the benefit of free trade, lied about how well they were taking care of us coming back from Gulf War 1 and 2, lied about the gas that has been casuing us cancer mysteriously, and btw “W” said this second Iraq war was going to be a “slam dunk” - How many years later is this? Helluva slam dunk! Gulf Veteran ‘89-90

By Let's get down to business

November 24, 2008 4:03 PM | Link to this

Wyld Byll,

First, what is it that you claim that the NY Fed governor failed to do that he had the power to do that would have made any difference regarding the credit mess we are in. Phil Gramm introduced legislation at the last minute in Dec 2000 in a lame duck congress attached to a “must pass” government funding bill that allowed for the creation of these unregulated CDSs and for the Enron mess as well. CDSs involving mortgage backed securities grew to over 60 trillion dollars and no one knows enough about how these CDSs are intertwined to even begin to figure out what the end result would be if a company like AIG went under. Further, no one wants to find out the hard way. We’ve already got one bankrupt country and financial institutions have been dropping like flies all over the world. There’s plenty of blame to go around but I personally think that a lot of it rests squarely on the shoulders of the Republicans and their determination to completely deregulate financial markets. The bottom line is that humans need oversight and that’s a fact.

By Razmus

November 24, 2008 4:27 PM | Link to this

I don’t think I have ever seen this level of vitriole from the winners of an election. Why the bitterness, my Democratic automatons? Have you gotten so used to “hating” on anything convervative that you just can’t give it up? What does that say about you? Your people are in control now. We conservatives lost. We acknowledge and accept that. Why are you still so angry? I think I know…..

By Wyld Byll Hyltnyr

November 24, 2008 4:30 PM | Link to this

Let’s get down to business

So its “blame the Republicans” at all costs. There is nothing wrong with an examiner, during a safety and soundness exam, citing failure to properly measure, monitor, and manage risk as an unsfae and unsound practice. This stuff was not unregulated once a trade was made; it was fair game for examiners to comment on exposure.

But we could go round and round on this endlessly, so I’m stopping.

All I want to know is why, as the regulator who oversaw the gensis of the problem, Geithner gets a free pass? Why?

By williebkind

November 24, 2008 4:32 PM | Link to this

SPREAD THE WEALTH The demos on are fire!!

By CommunistAJC

November 24, 2008 4:52 PM | Link to this

Jay Bookman, I hope you end up at the unemployment line. I’ve read better opinions from first graders. I wish I could get a job where all I did was copy and paste other newspapers articles. HACK!

By Let's get down to business

November 24, 2008 5:04 PM | Link to this

Wyld Byll,

I never said “blame the Republicans at all cost”. I highlighted what I believe to be a key problem that helped us get in the mess we are now in. You feel free to interpret it wrongly if you wish. Further, how do you arrive at the conclusion that Geithner gets a free pass? Provide specifics, cite some material that I can read on my own. I’ll give you material regarding Gramm if you like. Then, we could even talk about some of the complexities of the CDS market and why it is so difficult to get a handle on it.