Jamie Dimon fights back against UK Banker Bonus Tax
Jamie was one of our picks for Treasury Secretary to replace the tax challenged Timmeh (see our March post). Plus since we are shoveling money into, and making all our policy based on, protecting the banks, why not have someone with actual private sector banking experience?! Plus Jamie is actually, you know, SUCCESSFUL!
Jamie talks reality to Alistair Darling. JPMChase is about to enter a ginormous HQ on Canary Wharf in London. Maybe the ingenius Banker Bonus Tax that Gordon Brown and Alistair Darling have floated is NOT the best way to keep London as the European center of trading….
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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….
Market Mover Tuesday: Housing Data and the Treasury Auctions begin….
The Mortgage Bankers Association slashed their estimates yesterday, more on that later….for the next two days, we are also waiting for language after the Fed meeting wraps up to see the exit strategy….
This morning we get sales data:
…At 10 a.m., the National Association of Realtors will report on May sales of existing homes and the Federal Housing Finance Agency will release home-price data for April.
The Treasury Department will auction $60 billion in two-year notes Tuesday. Ahead of the sale, Treasurys were falling, with the two-year note sliding 3/32 to yield 1.174%, and the 10-year note sliding 10/32 to yield 3.722%….
Update:Averages Higher..Treasury’s Four-Part Plan – CNBC.com
Update:1:23pm EST: DOW up 171 to 7921, S&P up 18 to 831, NAS up 49 to 1578. TOTUS Townhall Video below:
On single payor healthcare:
Moderate in the Middle 