Senate hearings yesterday. Bank CEOs

[.... callchet ....]

I promise to not beat you as hard as I did yesterday. But you know, bad habits are hard to break.

[KharmaTrain]

1. And Do You Think It Really Bothered Those Goons?

I admit it...it felt great watching Maxine Waters and Gary Ackemann tear these robber barons apart, but that was only temporal. You could see that these guys were there to do damage control but had no real concept of what this mess is doing outside their country club worlds and don't care. They got theirs...

So the BOA President gets beat up for five hours...then gets in the limo, heads to the club and drinks it up with his other CEO buddies. The biggest act of arrogance is these crooks claiming they either don't want TARP funds or plan to pay it back. Pay it back with what? Monopoly money? And while they may not take the funds directly, many will through the backdoor...a bailout to a company they end up controlling. There was zero contrition yesterday...cause these guys know that if the system collapses they're still sitting pretty with their stashed "bonuses". They may have to cut back the golfing trips to Scotland and only keep one yacht, but well, times are tough ya know.