[He is now talking about what he’d like to see happen. More transparency, more overview, more reserves.]
Such talk is good, Dick... but action would be better.
So get to work - and CLEAN IT UP yourself.
Posted on 10/06/2008 10:04:48 AM PDT by Jack Black
OK. Let's go !!
He was beat up by the libs for making money. He is now talking about what he’d like to see happen. More transparency, more overview, more reserves.
John Mica, a Florida Republican is now asking questions.
That guy Fuld is creeping me out big time. He..uh...talks..uh...so..uh....slow. He seems drugged or something!
Ha ha ha. He’s pointing out the $300,000 that LEH gave to Congress. “You probably bet a little too much on Hillary” LOL.
This guy is really funny. “You’re the villan here, you need to act like the villan”.
Congressman continues:
“OK, let’s look at Fanny Mae, they donated $100 million. You were outlobbied! What do you think about that?? “
That guy Fuld is creeping me out big time. He..uh...talks..uh...so..uh....slow. He seems drugged or something!
He might have taken something to keep him calm, eg. valium or another drug. You can’t blame him when he has to face Commie Democrats in public and be their whipping boy for their attack on the American capitalist free enterprise system.
This is all part of a huge Commie-Democrat conspiracy so they can destroy our economy and get Obama elected so he can turn America into a Communist-Muslim nation.
Turn to CNBC....this British girl is hammering him...
Sure Dick Fuld is being painted a villain.
But if he was tracking things so well...he should have realized he
was in an impossible situation.
And resigned.
Now it seems that he wants people to weep for him.
We now have Rep. Elijah Cummings. He is a member of the racist Congressional Black Caucus.
“Do you agree that Lehman took on excessive leverage, yes or no.” “It’s not that easy. At times our leverage was higher...”
I missed that. I heard it in the backroom.
Media overload.
Hopefully someone gets that up on youtube shortly.
Another Donk questioning. BTW: my C-Span link is iffy on the ‘puter. I put it on the idiot box.
“As I go through Ohio and see abandoned house after abandoned house .. blah blah blah .. “
Now up Kucinich. “Did you talk to Mr. Paulson on a regular basis. This memo says that we have a ‘huge brand with Treasury’ , loves our capital raise. Do you feel that at any time in this process Mr. Paulson mislead you”.
Fuld seems drugged, I agree.
Q: Do you feel you were mislead by the treasury sec.
A: No sir, I do not.
Q: Conf. call 5 days before you said you had adequate capital. Did you mislead your investors? I remind you you are under oath.
A: No.
Q: You have memo saying paulson wants to raise standards, ... was he playing you against Goldman Sachs.
A: No, I certainly hope not.
Q: When did you know JP Morgan was going to make a $5 billion collateral call?
A: I don’t know.
K: addresses the chair: they are lying to their investors or they are being mislead by Paulson.
(K is trying to pin the tail on Fuld.)
A: Collateral call is not the same as a margin call. The call was not to meet risk they held.
Feld: “This is a topic for litigation. I believe the creditors and JP Morgan are having a conversation.”
She’s probably a NAKED SHORT SELLER...they are one of the biggest reasons these banks went down “WHEN THEY DID”, although the banks were on verge of collapse. The Banks were pushed over the edge at this time right before the election for Obama...take a look at the facts.
Feld said they were holding on, and the NAKED SHORT SELLERS drove the bank into bankrupty(bets that do not have to purchase the bet up front, but get weeks-months, to actually produce money to buy the paper being different from SHORT SELLERS, who must buy the bet upfront.) Short sells aren’t as toxic as they keep bank stock from going to high in good times, but can be dangerous in bad time...it was banned until Oct 2nd...and should have stayed banned until after the election.
I guarantee Soros is a naked short seller....
Now, remember Charles Schummer wrote a letter stating that INDYMAC BANK IN CA was about to go under, it wasn’t on anybody’s radar until he said that in that letter...then a run on INDYMAC and FEDS had to take it over.
Reid just recently said an Insurance Company was failing, and every Insurance stock dropped at least 30%.
Now add all that to the Fannie Mae and Freddie Mac debaucle and you have the recipes of toxic waste that shut down the banks...and the CEO’s instead of competing so hard against other banks with a 40-1 reserve ration, should have keep more capital reserve, and used more conservative business practices..however to be competetive they used same high risk techniques that always come back to haunt them.
Adelson is on now, and saying the same thing SHORT SELLING IS GAMBLING PLAIN AND SIMPLE...He should know..lol
Aren’t naked shorts always illegal?
No, it has never been legislated as illegal. It is definately immoral and unethical. All short selling was banned until Oct 2nd, when Government got involved in 700B Bailout...but the Congress did not address it to my knowledge...and now they are back at it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.