Hank Paulson on the Hill…
Reminder, here is where we were almost a year ago now, the world was ending and Hank was in a sea of flotsam and jetsom trying to keep us afloat..do I like what he did, hell no, am I glad TOTUS and Timmeh werent alone at the reins then? Hell yes!
Update: Video as it is available…
Watching them grill Hank on the Hill
Live feed here
IMO this is bad, very very bad..
This is what they would do with a CIA investigation of ‘Torture’…go back and question shxt they knew about and never opened their mouths about before to look good….
They are going back and questioning every aspect of decisions they KNEW at the time were being madem, that they rolled over for..
After 9/11, after the collapse of Lehman, things were not ‘normal’
Never thought I could feel bad for Hank but I do..
This is a witch hunt and a kangaroo court and a clusterfark all rolled into one…
These people have NO CLUE about the financial system, and the things they are allowing Team TOTUS to do RIGHT NOW IMO far outweigh what Hank did with TARP and BofA and Merrill…
Shit Chrysler Senior Debtholders were threatened a few months ago, none of these Congress critters made a peep..
These are the same tools who LOVED them some Hank in October of 2008…
Hank does not look well….
The Critters are frankly really interrogating him at this point…cutting him off…beating him up and bullying him in fact with emails he has never seen…this is a guy they schmoozed like crazy, a guy who like it or not saved the system form collapsing, I do not agree with everything they did and didnt want TARP but we HAVE A FINANCIAL SYSTEM TODAY b/c Hank did something, unlike the Congress who was clueless and led by Nancy who was busy interfering with national elections and not minding the store….
Dennis Kucinich has bene on a MISSION to get Ken Lewis fired and BofA shareholders a nifty lawsuit, he is on CNBC now attacking Paulson….
Update: Ron Bloom to take over, Steve Rattner stepping down as Auto Czar…
Bloomberg has it up, they say Ron Bloom who I have seen described as a friend of labor but who isn’t at this point on the auto force?? How can GM make money negotiating against its own workers interests when it owns itself?
…Ron Bloom, who has worked with Rattner on the car company restructurings, will take over the leadership of the Obama administration’s auto task force, the statement said.
…Rattner “has decided to transition back to private life and his family in New York City,” Treasury Secretary Timothy Geithner said in a statement. “I hope that he takes another opportunity to bring his unique skills to government service in the future.”
Here is a take on Rattner and Bloom from the former chief of IBM…
…“Who did we pick to figure out how to fix the automobile industry? We picked two investment bankers,” Gerstner said in an interview with Bloomberg Television’s “Conversations with Judy Woodruff” airing today. “It’s sort of like asking the arsonist to run the fire department.”
In February, Obama named Steven Rattner, co-founder of private-equity firm Quadrangle Group LLC, as chief adviser on auto-industry issues, and Ron Bloom, a former vice president at investment bank Lazard Ltd., to advise his auto task force….
Breaking on CNBC Chyron. The way Rattner allegedly treated Chrysler senior bondholders is truly abhorrent to our system of law. Hope this is not so they can promote him to destroying more contract law elsewhere in our economy…Karma is a two way street. He may be going off to spend more time in his mondomansion for all I know but what comes around goes around and he did a lot of damage to American business and contract law with his actions IMO…
Our MANY previous posts on the Chrysler travesty here
He is taking his giant cheese and going back to his giant rat trap perhaps…we hear the TOTUS family will be vacationing in MASS also…
MM is also following the story
Moderate in the Middle 