Lehman hearing over now. Summary:

[dixiegrrrrl]

Fuld was rattled to realize that some Committee members had records of his e-mails,
telephone and personal conversations, so when he could not lie , he dodged and evaded.
"I don't recall" was used a lot.
He claimed no knowledge of 150 game even after admitting earlier than he would have known about them, and after whistleblower laid trail right to Fuld's office door.
When Fuld was not being ....dissembling..he suddenly could answer in an articulate intelligent fashion, but when avoiding questions, he stammered and stuttered and got real vague.
Did not come across well.

Earlier today Mary Shapiro, Bush;s long time pick for SEC, pointed fingers at everybody but her office as the reason for all the dastardly deeds, then Turbo Timmy whined about ...well, as little as possible, in his rambling evasive way. Bernanke was rebuked for "dancing" around answers
( by Brad Sherman).
The Cal. Senate folks were very good at asking sharp pointed questions, did a good job of herding the financial cats.
Bill Black was NOT diplomatic, used real nouns, said things like "crime"
"lying" "fraud" and seemed to point his pejorative finger to the Congress as much as to the
banksters.
Whew..I need a break....long day of ear phones and puter viewing, but worth it.
My cats are threatening to die of starvation, being neglected for the last few hours will do that to a cat, ya know.

[quiet.american]

1. Thanks for that, dixiegrrrrl. & in the beginning, the GOP seemed to be taking their cue from KFC.

As in using the phrase "double-down" again and again to outright lie about the reform bill. I caught a bit of when Barney Frank called them out on it, and plan on watching the re-run over at C-Span.

[DJ13]

2. I agree, thanks for covering that hearing

Interesting stuff.

[lamp_shade]

3. Thanks. I didn't catch it all and I do appreciate your report.

[dixiegrrrrl]

4. Many welcomes for the thanks...

I actually like hearings from time to time.

If you do watch the re-runs, the fun doesn't start until the 3rd panel, when they grill
Fuld, after the auditor discusses his report and Bill Black does his "guilty guilty guilty"
testimony. Much fun.
the earlier 2 panels were kinda boring, with Timmy and Benny and Shapiro, who all,
remarkably, seem to say the same sentences the same way, over and over and zzzzzzzzzzzz

[Turbineguy]

5. If you're so fuckin' rich,

how come you're so fuckin' bankrupt?

[rhett o rick]

6. Leave Lehman alone and feed those cats. nm

[phantom power]

7. aside from being grilled...

we wonders if anything will change, don't we my precious?

[Warpy]

8. Give the cats some kibble and follow it up with chin scratches

and all will be quickly forgiven.

It's going to take a lot longer for Fuld. I see a lengthy Caribbean vacation in his future.

[unhappycamper]

9. Well, the Gonzo "I don't know/recall" defense worked for Alberto.

He's not in jail yet. :shrug:

[Po_d Mainiac]

10. And Lehman was just a victim

and not one of the causes of the housing bubble...:grr:

What a shame that William Black shit all over Lehman, SEC, FRB New York and the FED home office.

Mr. Black's use of plain language is one of the few testimonies worth listening to