*****OFFICIAL BAILOUT HEARING THREAD #2**************

[shadowknows69]

Paul Bearer just started

<http://www.c-span.org/watch/cspan3_rm.asp?Cat=TV&Code=CS3>

CSPAN 3

[seemslikeadream]

1. Paul Bearer

:rofl:

[protect our future]

10. Me too, seemslikeadream. LOL!!!!

[FraDon]

38. ya can't MAKE up a more perfect name ... n/t

[Subdivisions]

2. Anyone get the feeling their going to talk a tough game but

will go ahead and pass the thing anyway?

[cyberpj]

3. Already blaming consumers for taking loans they couldn't afford.

[deminks]

7. What nonsense they are spreading. Loans have to be approved.

They don't call them predatory loans for no reason.

[cyberpj]

13. Obvious to anyone with a brain - hope congress is using theirs.

[kentuck]

43. They spread out 50 different pages to sign...

and 99% of people getting a mortgage never read them. However, the banks do...

[pberq]

4. Another link

This one is working better for me. Click on the link "Watch the Hearing Live":

http://banking.senate.gov/public/index.cfm?Fuseaction=Hearings.Detail&HearingID=7a41ae9e-30b2-4d7f-8f1b-4ef2e8ae28f7

[chill_wind]

41. Thanks! n/t

[Mist]

5. Thanks for running this thread, Shadow. We appreciate it! nt

[shadowknows69]

8. I got the free time

And I want to see this fucker squirm, and hopefully this committee grow a spine.

[shadowknows69]

6. Dodd looks unimpressed with being threatened

I have to have Spineless Schumer as my Senator.

[bdamomma]

9. so what is the verdict?

I am not watching or listening. Next stop should be voicing our opinions.

[shadowknows69]

14. I missed about ten minutes

But so far I don't think anyone is down with a blank check. So they say.

[Mist]

17. Paulson's claiming he wants oversight. Right. nt

[kentuck]

11. Meanwhile, in the House....

they have decided to reform the credit card schemes. A small crumb for the masses before they screw them big time?

[Wilber_Stool]

12. That Mr. Paulson,

he's such a nice man. He's worried about us. :sarcasm:

[DemReadingDU]

18. He has the program to remove all those toxic loans

yeh, the taxpayers will eat it

[Solly Mack]

15. "complicated" so I can't explain them to you...just trust me

[cyberpj]

16. He's really speaking in a threatening way - fast and forceful. It shows.

[cyberpj]

20. still now say how or why - just "let it work quickly - as it needs to, and it does need to"

[Mist]

29. Paulson's pushing the speed angle--RIGHT NOW WE HAVE TO DO SOMETHING!! Then we'll

look at what we've done later.

[bdamomma]

61. financial shock and awe

Keep calling your Reps and Senators.

[Roland99]

19. Damn...he sounds DESPERATE!

Giving the sales pitch of his life to save his crony buddies at Goldman

[MelissaB]

21. "We need oversight. We need protection. We need transparancy."

Color me shocked. On the other hand, I'll bet he's a great poker player.

[guitar man]

I heard that

it's beyond belief that he could just pop that out there after including section 8 in the outline....the ay the lies roll off these people's tongues so effortlessly is just amazing. :grr:

[cyberpj]

35. Yeah but he also said - you guys are the guys to do that (congress) and you must do it AFTER you pay

[shadowknows69]

22. He's disrupting CSPAN

That proves he's at least a vampire, probably alien reptile.

[MelissaB]

25. Mine went out too.

:shrug:

[KoKo]

26. Oops Banking Committee Hearing Website not working now... nevermind.

[barbtries]

30. hard to look at him

especially since i firmly believe that he is hell bent on robbing the people blind.

[cyberpj]

48. he always reminds me of a German Lurch.

[MorningGlow]

34. Face melted

I was amused.

[shadowknows69]

36. Anyone see "They Live"

Maybe the resistance finally jammed the signal for a second.

[Solly Mack]

23. Like you give a fuck about the tax payer

[Tandalayo_Scheisskopf]

24. Schumer's falling asleep?

I get the sense he's heard enough of Paulson for one lifetime.

[cyberpj]

27. Still saying pay up now - we'll do reforms and other measures later. still no details.

[shadowknows69]

28. Cut the propaganda off and get to the questions

[pleah]

31. Why, if it is so urgent, has nothing major happened after a week?

This is just a whole load of shit, IMO.

Take your time and get it right.

[cyberpj]

32. For those who may have missed it - he still blamed consumers for taking loans they couldn't afford

at the start.

[Subdivisions]

33. I WISH THIS JOKE OF A COMMITTEE WOULD STOP

SUCKING THESE CROOKS DICKS!

Quit thanking them every three seconds assholes!

[Mist]

37. Bernanke up now. Kinda looks like a cut-rate mall santa. I like that he's

mentioning auctions, as a way of determining value.

[Roland99]

39. Bernanke saying private firms too afraid to buy debts because of doubts as to asset values.

Sooo...the Fed will step in and buy up all the trash with taxpayer cash and sell it off later and maybe make money.



"They're coming to take me away ho ho ha ha he he!!"

[DemReadingDU]

40. sheesh, Bernanke is going thru a list of things help the market

but if they weren't reckless with these investments, there would not be a need for all this stuff

[barbtries]

44. being punitive might cause

some of the institutions not to participate.
so they must not need it so bad.

"it must be NOW"
"all will be well"
"NOW or never"
"no such thing as never"
"oversight can wait"
"regulations can wait"
"everything can wait but this"

i call bullshit.

[Wilber_Stool]

42. Ask him how a hand full of

sub prime defaults can crash a 50 trillion dollar economy?

[cyberpj]

45. Chris Cox, SEC Chairman spitting out all the good things he's done "recently" telling what a good

job he's doing.

[cyberpj]

46. FINALLY - someone is blaming the lending standards instead of the loan takers.

[Buttercup McToots]

47. I can't stand him...

arrogant bastard...

[cyberpj]

49. "CDS market is totally unregulated and ripe for fraud" (What is CDS market?)

[barbtries]

51. Credit Default Swap

i googled it

[cyberpj]

54. Ah.... the 'thing' I haven't really understood since the beginning. Swapping bad debt between banks?

If so, why?

[barbtries]

70. i'm no expert

i think it's essentially a pyramid scheme with the fat cats tossing the paper back and forth at each other and taking home obscenely huge paychecks along the way

[bentley]

50. Some informatin on Credit Default Swap (CDS)

http://www.nytimes.com/imagepages/2008/02/17/business/20080217_SWAP_1_GRAPHIC.html


http://www.nytimes.com/imagepages/2008/02/17/business/20080217_SWAP_2_GRAPHIC.html


It's from 2/2008

[shadowknows69]

52. This wastes so much fucking useless time

None of these fuckers are actually going to publicly answer any questions. They've all "submitted written testimony"

[cyberpj]

56. At the opening, Dodd mentioned a Q&A period. We'll see, huh?

[Gin]

66. so...it "may" be a disaster down the road......BUT DO IT NOW

yep..another the sky is falling fear for your life scenario..

[kentuck]

53. and the market is now up by 76 points...

Somebody is making money?

[cyberpj]

55. Just because they're talking about it - or most likely because Paulson likely to get his way?

[shadowknows69]

57. Antiquated regulatory structure?

How about NO regulatory structure. That's why we're having this conversation.

[Wilber_Stool]

62. Coke!!

You owe me a coke. Same time.

[shadowknows69]

64. yep, great minds.

[Wilber_Stool]

58. Antiquated

regulatory system. I think I'm going to scream.

[Subdivisions]

59. TESTER!!! Love him! Why do we have one week? n/t

[Supersedeas]

69. hopefully he is not the only one asking why this has to be shoved down the system prior

to a new Administration taking office

[slipslidingaway]

60. So where did the 700 billion number come from? Has anyone

asked that question?

[shadowknows69]

63. Starting thread 3. Q+A starting

<http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x4066307>

[Subdivisions]

65. Bernanke: I 'think' it'll get worse without bailout.

Think? THINK?

[seemslikeadream]

67. Maybe we could make hunting..............

never mind ;)

[Wilber_Stool]

68. I'm watching this on MSNBC

I'm surprised that it's on. Expecting it to go off at any time.