When Congress summons the head of an industry to testify, Federal law should require large placards behind each candidate identifying their major donors from that industry.

I can't wait until the sequel comes out: Screaming at the Drive Thru

Way to look like you're doing something!

They're not even shutting the barn door after the horses have bolted. They're pretending they've shut the door.

Nice fake rage. Give every politician an Oscar before they're sent to the guillotine.

I'd rather that they have a drawing to see which two senators from a given state would hold their arms while some randomly-chosen taxpayers got to line up and kick 'em in the cherries. They could probably raise a good chunk of capital putting THAT on pay-per-view.

Wells Fargo, JPMorgan, Goldman Sachs, Bank of New York Mellon and State Street are completely different from Citi, BoA and Morgan Stanley.

The first five are actually well run and have the ability to survive the downturn. The remaining three should be thrown to the wolves.

1.)JPMorgan
2.)Bank of New York Mellon
3.)Wells Fargo
4.)State Street
5.)Goldman Sachs
6.)Morgan Stanley
7.)Bank of America
8.)Citigroup

That's how I rank them.

The one guy that's earned a pass in all this is Jamie Dimon. He's run his firm very well. If anyone has earned his salary, it's him.

I loved it. Those bankers looked like they were one day away from the guillotine.

Mentat: I loved it. Those bankers looked like they were one day away from the guillotine.

Beautiful picture!

I would be just fine with these assholes getting attacked on the streets. They truly deserve it.

The bankers that is.

I'm waiting 'till it comes out on blu-ray

BoA was good until the whole Morgan Stanley clusterfark.

Some CEOs need to go to jail.

The entire table should have been surrounded by the security personnel and informed that they were a hairs width from being sent to gitmo for "economic terrorism" and they would be explaining their actions to "experienced professionals".

\ A man can dream can he not?

Sounds like a Michael Moore film.

epyonyx: BoA was good until the whole Morgan Stanley clusterfark.

What?

Someone explain why I have to pay so some of these dickholes can stay rich. Guy likes to talk about consequences... let me see what consequences he's suffered for his failed business.

NewportBarGuy: Wells Fargo, JPMorgan, Goldman Sachs, Bank of New York Mellon and State Street are completely different from Citi, BoA and Morgan Stanley.

The first five are actually well run and have the ability to survive the downturn. The remaining three should be thrown to the wolves.

1.)JPMorgan
2.)Bank of New York Mellon
3.)Wells Fargo
4.)State Street
5.)Goldman Sachs
6.)Morgan Stanley
7.)Bank of America
8.)Citigroup

That's how I rank them.

The one guy that's earned a pass in all this is Jamie Dimon. He's run his firm very well. If anyone has earned his salary, it's him.

I actually would be Wells Fargo as number one. I am also confused as to why US Bank isn't on there...

/btw - wells fargo was bought by norwest banks (a minnesotan company but most of its execs now live in Tempe AZ) and us bank is based in minneapolis - both really well run - time to terminate New York as a financial capital

So they're making a movie version of "Mad Money"?

/DNRTFA
//knows NOTHING!!!

Yeah, expected that Gawker would have that take on it.

Gawker is a bunch of goldigger gals hot to trot to get themselves a Mega-bonused Mr. Big and live the Sex in the City dream they all wet themselves to sleep to every night.

There was a way more awesome rant on the Hardball podcast. I couldn't find video, but I think you can get the podcast here. (new window)

I don't know who the congressman is, but he gets pissy all over the CEOs' asses.

Rant starts at 4:45. Bonus: New Yawk accent.

I enjoyed the part where Maxine Waters was grilling them over credit card rates. It could see at that point that they were just like "Fark it, we're not even going to bullshiat you anymore. Yeah, we jacked up your rates. Just give us some cigarettes before you shoot us."

I hate that lady at the beginning.

Of course theyre being forced to raise rates. You idiotic politicians are about to force them to NOT raise interest rates on outstanding debts. They have to account for the risk now before you guys force them to lose money on risky loans. Whats better, the banks giving out high interest loans and you biatch about those? Or they give out no loans at all?

Link of the same crazy lady She was praising Fannie Mae and Freddie Mac a few years earlier on their awesome business practices.

God I farking hate these politicians.

Waiting for the bit torrent.

What is it about congressional hearings that make me automatically root for whomever is on the hot-seat? Oh yeah, the sanctimonious hypocrisy.

They could summon the Four Horsemen before them and I'd be sitting there thinking, "Pestilence, all will be forgiven if you just lay waste to that weasely motherfarker Chuck Schumer right this moment."

The book was better.


/It's always better.

NYZooMan
Yeah, expected that Gawker would have that take on it.

Gawker is a bunch of goldigger gals hot to trot to get themselves a Mega-bonused Mr. Big and live the Sex in the City dream they all wet themselves to sleep to every night.

It must be lonely in this thread without your neo-nazi friend GoodasGold in here.

bravian: NewportBarGuy: Wells Fargo, JPMorgan, Goldman Sachs, Bank of New York Mellon and State Street are completely different from Citi, BoA and Morgan Stanley.

The first five are actually well run and have the ability to survive the downturn. The remaining three should be thrown to the wolves.

1.)JPMorgan
2.)Bank of New York Mellon
3.)Wells Fargo
4.)State Street
5.)Goldman Sachs
6.)Morgan Stanley
7.)Bank of America
8.)Citigroup

That's how I rank them.

The one guy that's earned a pass in all this is Jamie Dimon. He's run his firm very well. If anyone has earned his salary, it's him.

I actually would be Wells Fargo as number one. I am also confused as to why US Bank isn't on there...

/btw - wells fargo was bought by norwest banks (a minnesotan company but most of its execs now live in Tempe AZ) and us bank is based in minneapolis - both really well run - time to terminate New York as a financial capital

I also concur

Also say you have 30$ in your pocket and I give you 10$. Then you go to to Burger King and get yourself 8$ worth of food. How much of my money did you spend? Eight dollars of it? None of it? Four dollars of my money and 4 dollars of your money?

Its the same concept with these TARP funds. Banks are being asked how much of these funds went out to make loans. Kind of hard to put a number on something like that without talking out of your ass.

I Like Bread: Someone explain why I have to pay so some of these dickholes can stay rich. Guy likes to talk about consequences... let me see what consequences he's suffered for his failed business.

I'll pretend you were really wanted an explanation.

Part 1 "Why":

Because if our banking system collapse many many business will collapse. This is what happened during the great depression the banking system failed which made most other businesses collapse. (Banks failed because they were over invested in stocks like banks were over invested in mortgages now)

Part 2: "I have to pay":

You are more or less lending them the money. You are not "paying". Most of the money the government should be getting back with interest.

Part 3:
"dickholes like this can get rich":

They have already made millions on f'ing this system over in stocks they have already sold. If they got fired today that would still have made millions and probably get even BIGGER bonuses because no one would be paying attention. Keeping their company afloat is not the same as making them more rich.


I hope you actually read this and try to see the points.

MicroE: I hate that lady at the beginning.

Omg. I was going to say that too. But I thought I might get a "That's racist!" kid gif in response.

She's farking annoying. She's not smart and she's obnoxious.

Before you get up in arms about "fees" and "charges", understand that they both play a critical function in our overall economic well-being.

A hidden tax, they ensure that one may never exceed a certain economic caste. They block those in the lower income brackes from encroaching on our vital middle and upper classes.

Wealth is proportional. It is a direct algorithym of "what you have" vs. "what the other guy doesn't have". By ensuring that there will always be poor people, struggling to pry themselves out of debt, the nature of supply and demand will ensure that prices remain low. Less poor people = more expensive goods and services.

MicroE: Also say you have 30$ in your pocket and I give you 10$. Then you go to to Burger King and get yourself 8$ worth of food. How much of my money did you spend? Eight dollars of it? None of it? Four dollars of my money and 4 dollars of your money?

Its the same concept with these TARP funds. Banks are being asked how much of these funds went out to make loans. Kind of hard to put a number on something like that without talking out of your ass.

I'm more concerned about how much of the TARP money went to giving bonuses and paying for trips.

Kinda like this: you asked me for $300 to make your rent. Then I come by to see how you are doing, and I find you sitting in your livingroom with an ounce of pot, a case of beer and an eightball of coke. When pressed for explanation, you tell me, "No man... I used my money for this stuff... yours went straight to the rent!"

Ace Frehley's Ghost: MicroE: Also say you have 30$ in your pocket and I give you 10$. Then you go to to Burger King and get yourself 8$ worth of food. How much of my money did you spend? Eight dollars of it? None of it? Four dollars of my money and 4 dollars of your money?

Its the same concept with these TARP funds. Banks are being asked how much of these funds went out to make loans. Kind of hard to put a number on something like that without talking out of your ass.

I'm more concerned about how much of the TARP money went to giving bonuses and paying for trips.

Kinda like this: you asked me for $300 to make your rent. Then I come by to see how you are doing, and I find you sitting in your livingroom with an ounce of pot, a case of beer and an eightball of coke. When pressed for explanation, you tell me, "No man... I used my money for this stuff... yours went straight to the rent!"

I totally understand how everyone feels a lot of these CEO's got way to big of bonuses but people are complaining about how these CEO's are taking jets to get biatched at by these senators. Aren't these CEO's supposed to be the people saving the world right now? How is their time better spent? Driving their prius cross country to DC or trying to figure out how to save their business?

People were upset about how Bank of America spent 10 million on a Super Bowl party. ITS ADVERTISING! Banks advertise! How dare they waste my money that they're supposed to pay back on advertising?!

But seriously. These CEOs are supposed to be some of the smartest people we got. The politicians are treating them like they're 5 year olds.

Maxine Waters needs to eat a belt sander.

Really, just SHUT UP.

TeddyRooseveltsMustache: Sounds like a Michael Moore film.

It IS a Michael Moore film. (Or will be soon.)

MicroE:
People were upset about how Bank of America spent 10 million on a Super Bowl party. ITS ADVERTISING! Banks advertise! How dare they waste my money that they're supposed to pay back on advertising?!

Ten million on a Super Bowl party when the whole financial sector is in the tank isn't advertising, it's farking boneheaded.

Mehhh, I prefer movies about accountants sailing the wild accounting sea.

packrattitude: TeddyRooseveltsMustache: Sounds like a Michael Moore film.

It IS a Michael Moore film. (Or will be soon.)

Ow, that will be a bloodbath.

Are any of those bankers actually surprised that Congress is going to take apart and scream about every business decision after forking over a large pile of money? I love this, because it'll make everyone else lobbying for a bailout think, "Whoa, if that's going to make Maxine Waters my new VP Of biatching At Me, maybe that's not such a hot idea ..."

MicroE: Also say you have 30$ in your pocket and I give you 10$. Then you go to to Burger King and get yourself 8$ worth of food. How much of my money did you spend? Eight dollars of it? None of it? Four dollars of my money and 4 dollars of your money?

Its the same concept with these TARP funds. Banks are being asked how much of these funds went out to make loans. Kind of hard to put a number on something like that without talking out of your ass.

I see it as the equivalant as the arguement for and against the Mexico City Policy but the sides are reversed.

Ace Frehley's Ghost: MicroE:
People were upset about how Bank of America spent 10 million on a Super Bowl party. ITS ADVERTISING! Banks advertise! How dare they waste my money that they're supposed to pay back on advertising?!

Ten million on a Super Bowl party when the whole financial sector is in the tank isn't advertising, it's farking boneheaded.

I'm not sure how its not advertising though. I guess I don't see your point.

So they got yelled at. Big f*cking deal.

Call me when a big ass security guard pulls them out of their chair and holds their arms behind their backs while another big ass security guard slugs them repeatedly in the gut.

MicroE: Ace Frehley's Ghost: MicroE: Also say you have 30$ in your pocket and I give you 10$. Then you go to to Burger King and get yourself 8$ worth of food. How much of my money did you spend? Eight dollars of it? None of it? Four dollars of my money and 4 dollars of your money?

Its the same concept with these TARP funds. Banks are being asked how much of these funds went out to make loans. Kind of hard to put a number on something like that without talking out of your ass.

I'm more concerned about how much of the TARP money went to giving bonuses and paying for trips.

Kinda like this: you asked me for $300 to make your rent. Then I come by to see how you are doing, and I find you sitting in your livingroom with an ounce of pot, a case of beer and an eightball of coke. When pressed for explanation, you tell me, "No man... I used my money for this stuff... yours went straight to the rent!"

I totally understand how everyone feels a lot of these CEO's got way to big of bonuses but people are complaining about how these CEO's are taking jets to get biatched at by these senators. Aren't these CEO's supposed to be the people saving the world right now? How is their time better spent? Driving their prius cross country to DC or trying to figure out how to save their business?

People were upset about how Bank of America spent 10 million on a Super Bowl party. ITS ADVERTISING! Banks advertise! How dare they waste my money that they're supposed to pay back on advertising?!

But seriously. These CEOs are supposed to be some of the smartest people we got. The politicians are treating them like they're 5 year olds.

Well, they did pretty much create an entire market of investement vehicles based on vapo-cash. Nobody held a gun to their heads and made them do that. Plenty of knowledgeable people were saying, "maybe that isn't such a good idea."

So, yeah, treating them like 5 year olds sounds about right. Those guys don't live in every day reality. They believe too much of their own hype and deserve all the shiat they can eat.

If they are so smart and so capable, how did they manage to get scammed? Because, basically that is what they are saying, "we don't know what exactly happened..."

That is a load of BS. Either they are lying or they are grossly incompetent. How come it always comes down to those two choices with this crowd?

jjorsett: Are any of those bankers actually surprised that Congress is going to take apart and scream about every business decision after forking over a large pile of money? I love this, because it'll make everyone else lobbying for a bailout think, "Whoa, if that's going to make Maxine Waters my new VP Of biatching At Me, maybe that's not such a hot idea ..."

LOL

iaazathot: MicroE: Ace Frehley's Ghost: MicroE:
If they are so smart and so capable, how did they manage to get scammed? Because, basically that is what they are saying, "we don't know what exactly happened..."

That is a load of BS. Either they are lying or they are grossly incompetent. How come it always comes down to those two choices with this crowd?

What they were doing was making them tons of money. Some banks were criticized at the time for not following suit. Banks that were making these risky loans were making tons of money while everyone else who was keeping things a bit more conservative we're just getting by.

The almighty all-knowing politicians came along (I'm looking at you Mrs. Waters) and praised these banks for doing such an amazing job. Banks were making tons of money, politicians were praising them. So its all good, right?

Hey guess what! Turns out politicians are just as greedy as some of these CEO's. When Fannie and Freddie are major supporters of your political career then politicians support them right or wrong.

How can these politicians try to save face while scolding these bankers. Each side wanted to make money and look good. Each side was wrong in the long run.

for good or for awesome: I would be just fine with these assholes getting attacked on the streets. They truly deserve it.

The bankers that is.

THIS

/loved the douche with the b-b-but responses

Political theater. How about not giving anyone's money to anyone else?

Crazy idea, I know.

BHO is spending $1 trillion -- in roughly his first 100 days in office. Thats 2/3 of what the last administration spent in 8 years...Progress????

Corvus:
I hope you actually read this and try to see the points.

You seem to have covered all points well enough except for this one:

I start a business.
The business does well, I become filthy rich.
If the business tanks... I go to the poorhouse to settle my debt.

Accountability, you see. Please explain how these bank owners are exempt from this rule.

tet_tot: BHO is spending $1 trillion -- in roughly his first 100 days in office. Thats 2/3 of what the last administration spent in 8 years...Progress????

While I would prefer he didn't spend that, the point is that spending money on lottery tickets is different than spending money on your home.

Bush blew his wad on scratch offs.