Is anybody watching the hearing?

[georgiapeach]

OMG, that HAS to be Paulson. He makes me want to reach through the computer. "Gotta do it, gotta be large, taxpayer's gonna suffer if we don't make it HUUUUGE..."
I ad libbed, but only a little.

 

[moostraks]

this is crap....

 

[Dary]

Paulson just said that the root of the problem lies in Congressional charters from many, many years ago.

Yeah, but not the one he's talking about. The real Congressional charter that caused problems is not Freddie/Fannie. It's the FED, STUPID!

Yeah, and he's blaming it on the so-called mortgage crisis too. Says he needs "strong measures".

Nothing but fear from him.

 

[moostraks]

he is holding us hostage and using usual fear fear tactics to for this through without discussion then we can debate it???

 

[moostraks]

Yeah, and he's blaming it on the so-called mortgage crisis too. Says he needs "strong measures".

Nothing but fear from him.

Yep!

 

[Otter Mii-kun]

Paulson just said that he WANTS Congressional oversight. That's like sending a rent-a-cop to break up a hostage situation. CONGRESSIONAL oversight? That's an oxymoron, based on what I've seen from the 110th Congress. Yeah, like he wouldn't claim EXECUTIVE PRIVILEGE????????

"Congressional oversight"... so they can rubber-stamp his bullcrap? Yah right! "Congressional oversight" my rear!

Yeah, and he's blaming it on the so-called mortgage crisis too. Says he needs "strong measures".

The mortgage market downturn is a necessary correction. Propping it up with interest rate cuts, liquidity injections, and bailouts will only aggravate the situation.

Nothing but fear from him.

...and the media's been channeling it all along! Just like with the dot-com crash and housing price collapse!

 

[Dary]

Bernake sounds nervous. His voice is shaking.

 

[georgiapeach]

I like how he makes it sound sooo complicated, as if to say we don't like it because we don't understand it. It's like he's talking to everybody.

Edit to add:
Correction, he is talking like he want to convince us that we understand it wrong when we actually don't, so he railroad people into buying his crap.

 

[Mark]

Paulson just said that the root of the problem lies in Congressional charters from many, many years ago.

Yeah, but not the one he's talking about. The real Congressional charter that caused problems is not Freddie/Fannie. It's the FED, STUPID!

He also said that it's a credit liquidity problem, so why can't the Gov'n just put up the bucks themselves
instead of buying the junk the Bankers don't want?

We could just guarantee a line of credit to the banks to provide liquidity instead.

And/or put up the bucks to fund the creation of NEW banks to provide credit.

Paulson's even had the nerve to say that if we don't pay enough to give them a decent return on the bad debt
that the banks might not want to sell it.

I wonder how many house mortgages in default they could pay off with a starting credit line of $700 Billion?

 

[Dary]

I wonder if anyone is running this testimony through one of those vocal lie detectors.

 

[Paul.Bearer.of.Injustice]

He also said that it's a credit liquidity problem, so why can't the Gov'n just put up the bucks themselves
instead of buying the junk the Bankers don't want?

We could just guarantee a line of credit to the banks to provide liquidity instead.

And/or put up the bucks to fund the creation of NEW banks to provide credit.

Paulson's even had the nerve to say that if we don't pay enough to give them a decent return on the bad debt
that the banks might not want to sell it.

I wonder how many house mortgages in default they could pay off with a starting credit line of $700 Billion?

The value of all the OTC derivatives is like a quadrillion dollars or something... so if all these instruments were to fail there isn't enough liquidity in the world... so they need to be stuck in a financial "Yucca Mountain".

 

[Otter Mii-kun]

He also said that it's a credit liquidity problem, so why can't the Gov'n just put up the bucks themselves
instead of buying the junk the Bankers don't want?

It's a "liquidity problem" because there is TOO MUCH liquidity that has been pumped all these years into the markets-causing severe instability-NOT stability.

All those junk mortgages need to be written off and discarded-not resold or repurchased by anybody.
Mortgages are DEBT. Debt is an Obligation to pay off the issuer of the loan (which created the debt). It is NOT an "asset" or a "security" to invest on and expect big returns from.

 

[freelance]

I wonder if anyone is running this testimony through one of those vocal lie detectors.

I'd also love to hear reverse speech on it just for grins.

 

[moostraks]

My favorite was there should not be any repercussion for usage of this program or it will not be utilized. Now let me get this straight, they have another option for solvency? Seems to me it is them telling us either accept this or we will tank the economy, there is no option to you to enforce repercussions upon us. Keep the party going or ELSE! These guys are jerks...

 

[georgiapeach]

Man, I missed the past 15 minutes or so to toddler aggro. And counting, since I can't hear over him screaming from next room.

 

[moostraks]

I wonder if anyone is running this testimony through one of those vocal lie detectors.

hmmm..that would be interesting

 

[freelance]

My favorite was there should not be any repercussion for usage of this program or it will not be utilized. Now let me get this straight, they have another option for solvency? Seems to me it is them telling us either accept this or we will tank the economy, there is no option to you to enforce repercussions upon us. Keep the party going or ELSE! These guys are jerks...

Uh huh, just like the Patriot Act and FISA. Thanks God that hate thought crimes thingie hasn't passed, or we wouldn't be able to criticize the government. Just wait. That'll be next.

 

[moostraks]

make mortgages at lower cost to average americans...uh...how about not overinflating the market value???

 

[Mark]

Watching.

Unhappy.

This is truly historic...

And today, I feel I am ... a historian of decline ...

This may just be a warm-up


http://www.coasttocoastam.com/shows/2008/09/21.html
[h2]Calamitous Web Bot Predictions[/h2]
George Ure and his colleague 'Cliff', two self-described "time monks," shared dire predictions based on their web bot technology. Their method captures changes in language patterns within Internet discussions. This aggregated data is then processed with software to determine various keywords, which they interpret in a predictive fashion.

Beginning on October 7, 2008 and running through March 2009, they foresee a calamitous period on an epic scale. America will be beset by a variety of problems, which they broke down as 45-48% related to the economy, 40% concerning the military, and the rest associated with natural disasters. Between 2 and 22 million lives could be lost or seriously impacted, they estimated, possibly related to a "global coastal event" in 2009. On Dec. 10-12th, 2008, a large quake could hit the Pacific Northwest, they added.

The two recommended developing self-sufficiency and the ability to live off the grid.

 

[HOLLYWOOD]

One Question...

Where's the Representatives of the People of the United States... Congressman?

Not this Grandstanding worthless nonsense by Senators Christopher Dodd, Charles Shumer, et al, of the Wall st ELITIST, Wealth, Zionist, Banking Whores!

I guess the people don't count, only when money is WANTED, ah, I mean involved.