Posted on 07/24/2008 11:08:53 AM PDT by Rufus2007
Don't blame Sen. Charles Schumer, D-N.Y., member of two influential banking committees - the Senate Finance Committee and the Committee on Banking, Housing, and Urban Affairs - for IndyMac's collapse, says CNBC's Erin Burnett.
Burnett, host of CNBC "Street Signs," disagreed with a claim by MSNBC "Morning Joe" host Joe Scarborough that a letter to regulators from Schumer caused a run on the beleaguered bank IndyMac, which eventually led to its failure and takeover by the Federal Deposit Insurance Corp.
"I don't think Chuck Schumer caused a run on the bank," Burnett said on MSNBC's July 24 "Morning Joe." "This is the new world of banking. Companies, banks come out and they say, and they say, ‘Oh my gosh - our stock's down 20 percent. It's being manipulated. Please come in and help us government. Oh my gosh, there's a run on our bank - let's blame it on a senator.'"
...(more w/video)...
(Excerpt) Read more at newsbusters.org ...
If she would just sit there and look pretty, she’d be OK.
(I kinda think she's the one who resembles a primate.)
Well, that settles it. Chucky Schmucky is not to blame. Silly me for thinking otherwise.
Sarc/
He contributed but the overwhelming majority of the problem can be blamed on those who run the bank and let themselves get in that position in the first place.
Erin Burnett is a legend in her own mind. She tries to act much younger than she is, a Perky Katie clone.
Well said.
Schumer caused the run and he should be sent to prison for the rest of his life.
It's all clear to me if not to her. Could she be blinded by love?
but THEY ARE ALL ABOVE THE LAW.
Nothing to see here. Move along.
Her co-hosts constantly struggle to keep from laughing at what she says. They know the game and tolerate her because her looks draw an audience. But it is hilarious watching her co-hosts try to dead pan when they want to break up over her dumb ad-libs. She really needs to just sit there, look pretty and read the teleprompter verbatim.
Her co-hosts constantly struggle to keep from laughing at what she says. They know the game and tolerate her because her looks draw an audience. But it is hilarious watching her co-hosts try to dead pan when they want to break up over her dumb ad-libs. She really needs to just sit there, look pretty and read the teleprompter verbatim.
There is a procedure the Drive-By Media uses to hire “financial journalists.” When college journalism grads show up at their very first jobs, the editor asks, “Do you know how to reconcile your checkbook?” If they answer yes, the editor assigns them to the business desk.
That’s the extent of their business knowledge.
OK, so it was just a coincidence that depositors pulled billions out causing the bank to fail! Who’da thunk it.
I’ll take Jenna Lee, Cheryl Casone, Alexis Glick, Tracey Byrne and Sandra Smith at Fox Business any day over Burnett. They are all gorgeous and seldom shoot their mouths off. I think Smith actually worked for Forbes before going to Fox.
Anyone who tries to blame IndyMAC’s failure on Chucky Schumer is a total farking retard.
If it’s that simple description of how farking stupid and retarded you are that gets through your thick skull to your limp brain mass, then so be it. You are economically retarded. Deal with it.
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