Maxine Waters goes nuts on TV, cut-off by chairman

Fox News Live | 2/11/09 | vanity

[MahatmaGandu]

Have you ever looked at who is on the Board of Directors for most large corporations anymore? You'll find that most BoD are staffed by the CEO's of other companies. The result is a good ol' boys network that is not accountable to shareholders or anyone else but the CEO Club.

Yes, some of the execs are decent people. But most of them anymore are self-serving cretins who reap hundreds of millions and even billions in compensation all while bankrupting their firms and sending their worker's jobs overseas.

What's truly upsetting to me is that the so-called conservatives who'd bitch about some bozo running a low-rent scam that cheats some old people of a few thousand bucks are falling all over themselves to defend these perfumed princes who've stolen BILLIONS from MILLIONS of old people.

[Caribou]

Raines gave to her campaign:

http://www.newsmeat.com/campaign_contributions_to_politicians/donor_list.php?candidate_id=H4CA23011

[what's up]

The CEO’s will take it from her and still send her campaign money

I don't see much banking money high on her list of donors.

But if I did, I might understand. A communist is going to get elected in Watts anyway. Why allow a smarter, smoother Dem to get in?

Best to elect Waters who will help your cause in the long run since the larger community sees her as whacked.

[freeandfreezing]

Why would they issue loans with no hope of getting repaid?

Uh, so they could sell them off to investors and then sell their mortgage company for 24 billion dollars?

Or do you think the Sandlers were just lucky when they sold Golden West Financial and its pay-option adjustable rate mortgages to Wachovia just before the market collapse.

[Constitution Day]

Thanks! hehe.

[what's up]

so they could sell them off to investors

Sure, like I said, that happened later especially after the Dems assured them the gov't would back them.

They wanted to get the bad loans off their hands as soon as possible and rightly so.

Then it became a mania as more and more realized what was happening and no one wanted to get stuck with the junk.

However, the mandated gov't sub-primes (lobbied for by ACORN) were at the root of it. Which most people very mistakenly believe the banks were responsible for because of their so-called desire for "predatory lending".

[what's up]

who've stolen BILLIONS from MILLIONS of old people

I really doubt that was the motive of most of the CEO's, even though the media and the Dems (and Russia) would have you think so.

[sportutegrl]

I have been watching this dog and pony show on cnbc. It makes me furious to see the likes of Barney Frank ‘grilling’ CEOs on bonuses, etc. He does not have the right to act all sanctimonious. Who is worse, the CEO’s who were given taxpayer dollars with no strings attached and did what they always do, or the people who gave out taxpayer dollars with no strings attached.

[Tarheel]

Perhaps no one asked because the members of Congress, on the panel, knew that Ken Lewis from BOA took the train from Charlotte to DC. He left Charlotte late yesterday.

BOA is in the process of selling several planes from it’s corporate fleet, laying off pilots and support personnel.

[Caribou]

CEO’s being brow beated in the hearing and their contributions: Lloyd Blankfein, CEO and Chairman, Goldman Sachs & Co.; James Dimon, CEO, JPMorgan Chase & Co.; Robert Kelly, Chairman and CEO, Bank of New York Mellon; Ken Lewis, Chairman and CEO, Bank of America; Ronald Logue, Chairman and CEO, State Street Corporation; John Mack, Chairman and CEO, Morgan Stanley; Vikram Pandit, CEO, Citigroup; John Stumpf, President and CEO, Wells Fargo & Co. 2128 RHOB.

Lloyd Blankfein: http://www.newsmeat.com/fec/bystate_detail.php?st=NY&last=Blankfein

James Dimon: http://www.newsmeat.com/ceo_political_donations/James_Dimon.php

Robert Kelly: http://www.newsmeat.com/fec/bystate_detail.php?st=NY&last=kelly&first=robert

Ken Lewis: http://www.newsmeat.com/ceo_political_donations/Kenneth_Lewis.php

Ronald Logue: http://www.newsmeat.com/fec/bystate_detail.php?st=MA&last=Logue&first=ronald

John Mack: http://www.newsmeat.com/ceo_political_donations/John_Mack.php

Vikram Pandit: http://www.newsmeat.com/ceo_political_donations/Vikram_Pandit.php

John Stumpf: http://www.newsmeat.com/ceo_political_donations/John_Stumpf.php

[azishot]

Unless her head spun around and she puked green slime she was just acting normally...for her.

[nyconse]

Well, there are others who need to be asked. Ken showed some brains...of course mostly these guys will be treated with kid gloves-undeservedly. They ruined their companies and crashed the economy.

[nyconse]

But it was OK for Congress to grill the autos...who did not destroy the economy. These guys are getting off easy.

[nyconse]

This is why they have those lovely compensation packages while stockholders take a bath...everyone of those pompous asses appearing before congress screwed their stockholders...all of them while raking in millions.

[what's up]

Thanks for the info.

I don't see any contributions to Maxine Waters LOL.

It did my heart good to see Ken Lewis say, "I don't know what you're talking" about to the honorable congresswoman.

[bert]

I assume she didn’t have her bag on her head?

I have Fed Exed her a nice brown grocery bag several times with instructions to wear it on TV to avoid offending us who have to watch.

[ViLaLuz]

Bump for viewing at home where youtube isn’t blocked.

[null and void]

A ball gag might be more to the point...

[dead]

But I'm wanting to scream myself so it's satisfying to see at least someone getting upset and losing their cool over a mess that has cost this nation

You're missing the point! She, Maxine Waters, and her cohorts in congress are the ones that caused this mess.

Congratulating her on getting angry at others over the mess is like congratulating OJ on cursing his ex-wife's murderer.

[freeandfreezing]

Which most people very mistakenly believe the banks were responsible for because of their so-called desire for "predatory lending".

Banks and mortgage companies have always desired high interest rate loans -- thats why they fought so hard to remove state usury caps, and thats why sub-prime lenders of all sorts lobbied for and loved it when the feds gave them better access to Fannie Mae and Freddie Mac money.

It is no mistake to realize that the banks and mortgage lenders who made the bad loans wanted to do so and made it a fundamental part of their strategy. It is wrong to try to let the banks off the hook. Nobody forced them to suspend all rational risk analysis, and many bad loans and bad assets the banks hold have very little to do with the kind of housing ACORN and others pitched. Take a look at the billions of loans made for corporate buyouts, risky condo developments, hotels in Las Vegas, and even raw land in California -- bought by the state employees pension plan no less. The federal housing acts didn't mandate any of those bad loans did they?

Plenty of Alt-A loans are going bad, and plenty of sub-prime loans were made to people with lots of money. The folks who bought unbuilt condos in Florida for $2 million a pop, and then walked on the mortgages had nothing to do with ACORN - except perhaps helping donate to the campaigns of the politicians who support ACORN.