UPDATE 5: Video added; Marty Feldstein comes out of TOTUS meeting and not playing ball, says consumers hurt by cap and trade, hurts economy..OMG Geithner just told DeMint that it is Treasury attys view that they have a 700B revolving line of credit in TARP legislation!!! Geithner on the Hill…again…
Update 5: Vodpod videos no longer available.
Update 4: Marty Feldstein comes out of economic advisers meeting talking to Becky Quick LIVE now CNBC
NOT playing along, says hour was spent talking about cap n trade and he raised the concerns about consumer rising prices and costs to recovering economy, Feldstein is explaining to Americans that TOTUS Team is REALLY EXCITED about cap and trade and basically telling us to CALL OUR CONGRESS CRITTERS and VOICE OUR NO VOTES and OPPOSITION to cap and trade or it is coming!!!
I love that Feldstein wont be a pawn and is giving his HONEST OPINION, It is a hidden tax he says….CALL YOUR CRITTERS JUST SAY NO TO HIGHER ENERGY COSTS IN A DAMNED RECESSION!
FYI Markets were up nicely and are turning lower as Tim says they have revolving 700B of our money to use as they see fit while TOTUS Econ Adviser Team says cap and trade is coming but they say it is green jobs !
Update 3: SHxt, now they jumped to the Council of Economic Advisers talking after meeting with TOTUS, It os GE’s Immelt talking about how we need, wait for it..GREEN JOBS,…ZOMG!! Another nail in the economys coffin….gee wonder why GE is so interested in this and healthcare, evil bastids…
Update 2: Vittner following up saying Sen Gregg wrote to Treasury telling them this is contrary to Senate’s understanding of TARP law when it passed. Tim is pushing back says he wrote a letter back, (yesterday) and now saying I understand but our reading of the law is that we have this power…SHXT CNBC interrupted to go to SEC..frak!
OMG OMG OMG DeMint just got Tim to admit Treasury and Admin lawyers in reviewing TARP legislation believe they have ONGOING authority to CONTINUE to use 700B out of General Funds to do with as they see fit in the financial markets..OMG OMG OMG
DeMint said if it is paid back it goes back into General Funds right, that is taken from what you can use. Tim said Yes and NO It goes to General Funds but WE CAN STILL DRAW IT AND USE IT DeMint said permanently, Tim said not sure about permanently but our attorneys say on an ongoing basis..
OMG OMG OMG HOLY SHXT WTH DID THESE YAHOOS DO! NOW THE POLITICAL ARM OF TOTUS, TREASURY HAS A REVOLVING 700B LINE OR CREDIT FROM OUR GENERAL FUNDS!!!
Will get video up as soon as humanly possible…
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If you are a glutton for punishment like I am, lol, watch live on CNBC Stream here
He is testifying before Dodd, friend of Angelo’s Cmte….ugh…
Moderate in the Middle 