“I’m here to tell you right off the bat that I’m not guilty of any wrongdoing,” he opened. “I will fight, I will fight, I will fight until I take my last breath.”
He did not discuss the specifics of the charges, saying, “I’m not going to do what my accusers and political enemies have been doing” by addressing a complex issue in “thirty-second sound bites.”
“I intend to answer any allegation that comes my way,” he continued. “However, I intend to answer them in the appropriate forum, a court of law. And when I do, I am absolutely certain that I will be vindicated.”
He insisted that he would not resign, stating, “I’m not going to quit a job that the people hired me to do.”..
Will post it when it comes up…quoting Kipling now…Better man than you are Gunga Din??
he says “has at his side the most powerful ally there is THE TRUTH, he asks people of Illinois wait be patient sit back take a breath and reserve judgement”…his hair looks great…
IMO this ROY is to soothe worried bankers that more is available, not to actually use it or even get access, just to LOOK like they are, although with Hank who the hexx knows he changes like the wind. (Video update Hank tells Bartiromo 3 days ago he doesnt need TARP two..) .but I think this is all window dressing for markets to keep calm….recall last time Hank said he is done with TARP we fell off a cliff in the markets…
Update 3: 10:19am EST: Breakdown coming out on Big 3 loans: GM to receive 4 billion on 12/29, another 5.45 b on 1/16/09…Chrysler to receive up to 4 b on Dec 29th (don’t get me started they should’ve gotten nada, they are privately owned by Cerberus who refused to put up any more cash..at least Kokomo will have work, they better reopen those plants..)..Ford had said they were okay pending no further market deterioration in sales…
UPDATE 2: 10:03am EST: CNBC reports that an additional 4 billion in loans is expected to come from TARP tranche Deux in February, contingent upon 2nd tranche approval by Congress…so total is 13.4 billion immediately, additional 4 billion from TARP part Deux under PEBO (which will give PEBO the opening to change the requirements :0))
UPDATE: 8:52am EST: The loan is a done deal. 13.4 Billion from TARP…
Govt will have power to block large transactions,
govt gets warrants ahead of all stakeholders
new agreements with stakeholders, dealers, suppliers required by March 31st
work rules and wages must be competitive by December 31, 2009…
positive net present value by March 31, 2009, must reduce debt by 2/3
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ginaswo
