Sen. Levin's committee ripping into Goldman guys! It's on the business channels! Must see TV!

[flpoljunkie]

[closeupready]

1. What's being said (for cube rats here)?

??

[Truth2Tell]

22. CSPAN Live link...

http://www.cspan.org/Watch/C-SPAN3.aspx

[global1]

2. I've Been Watching It On CSPAN .....

it's compelling and damning. These GS guys are stonewalling though. Pretending that they can't find the exhibits that the Senators are referring to. They are hoping to run out the clock. You said it - it is MUST SEE TV.

[tridim]

3. And Levin just said they will continue until ALL the deflected questions are answered

They're all guilty as hell.

[flpoljunkie]

5. These Big Bank shysters are running casinos with these swaps, and we are left holding the bag!

I was disturbed to hear again this morning from NBC's John Harwood (who's tight with the White House), and not denied by Austan Goolsbee on MSNBC's Morning Joe this morning, that the White House does not want banks to have to spin off their swaps business/'casino operation'. They disagree with what came out of Blanche Lincoln's Agriculture Committee for derivatives. Goolsbee would only say the administration want these derivatives made transparent.

The Big Banks make billions on this gambling, and they are determined to keep it that way.

The 'elephant in the room' question: Why is the White House siding with the R's and Goldman Sachs, et al?

There must not be a 'bipartisan deal' that precludes the amendments on deck that will make Dodd's bill stronger!

[beac]

13. I would love to see the hearing stretch on for a week or more.

Gawd knows there's enough criminal activity on the part of GS to fill up a month's worth.

[cutlassmama]

20. +1

[closeupready]

4. The thing is, Levin's statements just seem like grandstanding.

For example, 'Goldman Repeatedly Put Its Own Interests And Profits Ahead Of The Interests Of Its Clients And Our Communities' - well, duh, of course they did. It's called fiduciary duty. They could be sued if they did anything else. Levin must know that. To act outraged about it is transparently phoney to me.

[flpoljunkie]

7. Levin is making plain how these shysters operate. They played their clients for fools.

They withheld critical information from them and continued to buy crap mortgages, package for clients, and then sell them short

[closeupready]

11. Ah, right.

Thanks.

[Orsino]

15. Well, grandstanding is how stuff actually gets done in the Senate.

I'll applaud Levin for what seems to be the right kind of grandstanding.

[phleshdef]

16. Yea, in what fucked up world is showing some righteous balls considered grandstanding?

[BlooInBloo]

19. It's just DUers who can't stand the idea of anything good happening....

No biggie.

[Orsino]

21. My celebration is on hold, pending something actually happening.

But nice-sounding noise is how Change begins.

[flpoljunkie]

26. Good point. The proof is what ends up in Dodd's bill--whether it is reform in name only.

Or real reform that ends the Wall Street casino and provides consumers with real consumer protection from a truly independent consumer protection agency. The Republicans are blocking this, too.

[closeupready]

17. True.

:)

[NoSheep]

6. Can this be seen on the web?

[flpoljunkie]

8. Yes. It's on C-Span3 accessed thru cspan.org.

[NoSheep]

10. Thank you!

[NoSheep]

12. Awwwwww...Predatory Capitalism baaaaad...

[flpoljunkie]

24. You bet your sweet ass, it is! We bailed out these bastards who're still running these scams, and

not making loans!

[political_Dem]

9. All I can say is that the GS guys look constipated as they are being read the riot act.

:rofl:

[NoSheep]

14. Grill, baby, Grill

:bounce:

[Turbineguy]

18. I think a large part

of the Due Diligence done by these "sophisticated investors" consisted of trusting GS, a company of sterling reputation. Little did they know....

http://www.youtube.com/watch?v=zOXtWxhlsUg

[Truth2Tell]

23. The little prick testifying now

is clearly working to simply try and stay out of jail at this point.

[Waiting For Everyman]

25. They deny collapsing Bear Stearns, but yet it's clear they did, in fact.

I hope someone on the committee gets to using the f-word... FRAUD.

Btw, it's also on CNBC. "Ripping into them" is a right-on description.