Waxman: I have a question. Is your half-a-billion $$ in pay fair?

[L. Coyote]

Run time: 06:45 https://www.youtube.com/watch?v=JXAR5950JA0   Posted on YouTube: October 06, 2008 By YouTube Member: Views on YouTube: 0   Posted on DU: October 06, 2008 By DU Member: L. Coyote Views on DU: 988

 
Chairman Waxman questions Richard S. Fuld, Jr., Chairman and Chief Executive Officer, Lehman Brothers Holdings.

[Lautremont]

1. Jumpy and badly out-of-sync audio makes this virtually unwatchable.

However, I'm for jailing this guy for his choice of necktie alone. Half a billion doesn't buy good taste, apparently.

[rocktivity]

2. Oh, no he didn't!

:rofl:
rocknation

[drgonzosghost]

3. Liquidate them, and then stick them in South Tampa so they

can spange for a living. I want to see these assholes suffer and grovel more than I want to see Bin Laden suffer and grovel.

[whistle]

5. Levy a 95% tax on all of their liquid and capital assets both foreign and domestic

...these guys earned none of their money, they won it gambling and creating fraud

[whistle]

4. Richard S. Fuld looks like a Klingon merchant, talks one also

[Turbineguy]

6. Years ago

a young hot-shot broker told me that the secret to making money in the markets was to take money out. If you take more out than you put in you've won. Of course, it has to be somebody else's money you have to be taking. Unless actual wealth is created along the way.

I figure that's how it works. Ordinary people work and save for their retirement, investing the money in the markets. Then the guys who run the casino take the money out. But they invent instruments that look like there is actual equity. So the numbers look good. But it's all based on fantasy. The money left long ago. The real equity is owned by private equity capital firms. The rest of us own froth.

A perfectly maintained car would have the wheels fall off just as you drove it into the junkyard. Theoretically possible, but difficult in practice.

The stockmarket works if people bring money in, companies use the market to finance and create wealth. Instead of this happening the a lot of the wealth was fake, created by finance wizards.

You can't get around the risk/reward relationship. If you increase your reward, you have increased risk. You may pretend you haven't raised risk, but you are living in fantasyland. Just because you are clever, doesn't change the law.

The regulatory environment created by the republicans rewarded the creation of fake wealth and the rewards were high because of risk denial.

So now we go back to creating actual wealth. I expect the Obama Administration will create a regulatory environment that will accomplish just that.

[Faith No More]

7. Fucking hog !!!

There are no words to describe the contempt I hold for arrogant assholes like this.

[Veronica.Franco]

8. Here's a better link ...

http://www.youtube.com/watch?v=S2zRjdX-xB8