Heated exchange between Hank Paulson and Senator

is there a link?

it was hysterical. the earlier one with bernanke was gold as well

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"its the running joke now, we now have fair trade with china so they send us poisoned sea food and we send them fraudulent securities."

http://www.cnbc.com/id/15840232?video=794244797&play=1

priceless! I've never seen paulson stutter so much from being so nervous. and what the hell happened to his pinky finger?

http://www.cnbc.com/id/15840232?video=793876610&play=1

priceless part 2.

Senator Bunning dropped the Ether on both of them.

Bunning 4 Prez

Bunning is a clown. He sounds about as ignorant as the average American. Everything he said sounded like a CNN soundbite--he gets all excited about oil prices, inflation, moral hazard, etc. without having any form of understanding or deeper knowledge of the subject matter. I trust Paulson and Bernanke over any person in the US Congress. They may not be correct all the time, but they have far greater knowledge and understanding of macroeconomics, and the courage to do their best attempt at fixing the system when problems go wrong and preventing problems from occurring in the first place, when able. Congress can, in hindsight, throw blame at Greenspan and Bernanke all day long, but the Fed still has a better track record than Congress. It is very easy to sit back and place blame for past events, but it is much, much harder to be the one to actually try to fix a problem. The Fed acts, Congress observes. It's that simple....

this quote is laughable. think about the absurdity of paulson's proposal - a blank check from the us government (i.e. your tax dollars) to rescue an insolvent gse. they even want to use that cash to purchase equity! ridiculous.

i respect bernanke and paulson, but this plan is a joke. pershing capital's restructuring plan is better.

furthermore skins - your assertion that oil prices, inflation, and moral hazard aren't of primary importance is absurd. what is this "deeper knowledge of the subject matter" you speak of?

Let me clarify. I am in no way defending Paulson's proposal. I am merely saying that I have grown tired of Congress doing nothing but bitching about problems and then criticizing those who attempt to fix them. Most of which is done after the fact. It is very easy to sit on the sidelines and hurl criticism at those who are actually playing the game. It is much harder to ante up and get involved yourself.

I did not say that oil, inflation, etc. are not issues of primary importance. I merely said that Bunning sounded like the average American, who bitches that the gov't should lower the price of oil, housing needs to be fixed, etc. but has no deeper understanding of how the system works. Specifically, one really has no reason to be mouthing off an opinion on the price of oil if you have no firm understanding of how the oil industry works and how financial markets work. Same thing with criticizing the Fed. Your average American doesn't have a damn clue how the Fed works or even what their role is. Yet that person is willing to spout off commentary on how the Fed is performing. It's laughable.

And I'm not so sure that Bunning's undergrad econ degree from Xavier and career as a pro ball player give him any sort of expertise on macroeconomics. Thus, I am very sceptical when people like Bunning start jumping on people like Bernanke and Paulson, who are mental giants in comparison to your average Congressman.

So far Paulson has been a bumbling dork up in Washington. I'm AMAZED he made it to the top at Goldman.

And don't even get me started on Congress...

And for the poster who was wondering; I'm pretty sure Paulson's mangled pinky finger is the result of severe arthritis.

Paulson: "I believe everything I say" - classic

I always imagined that Paulson would be much tougher than that.

bunnin's an idiot. have you ever tried to speak to an idiot in a presumed position of authority? no wonder paulson stutters.

Sen. Bunning was rated one of the worst 5 senators in the the senate. He touches on major points but clearly has no understanding of the situation.

Paulson was incredibly unimpressive and if my pinky looked like that I think I would try to keep it under the table when im speaking on every major network. Paulson is not really asking for anything new, he is only asking for the government to simply follow through on an implied guarantee. The plan is not perfect but it is necessary to keep these major institutions from going under. People think we are going through hell now but really, this doesnt compare to the Savings and Loan crisis of the early 90's

ohhh look at me i'm an angry congressman

i'm no fan of paulson but he should have put that scum bunning back in his place.

speaking of paulson did this guy come to dc just to wipe out rival firms? because he's not doing anything else...

bunning may be an idiot, but paulson's plan to save fannie/freddie by using an UNLIMITED amount of tax dollars is absurd. you don't need to have a phd in economics to realize that.

I was surprised how weak Paulson is in communicating. If I did not know who he was, I would think he is insecure by the stress put on him and doesn't know what he is doing. He should learn from BP's Browne, the best communicator I have heard so far.
http://youtube.com/watch?v=-cpIHxiqGXI

Paulson throw up a gang sign at senator bumming

did paulson make it to the top of GS wearing a g-shock?

Ha! Good question...I noticed that watch, as well, and just had to shake my head...

yeah, the watch was funny...very minimalist

Double post...I guess I was being too LIBERAL with the post button

I am DISGUSTED by the fucking LIB BULLSHIT I am reading in virtually every post.

You fucking socialist pigs need to hop off Paulson's lib cock and listen to Bunning who is RIGHT on this issue. Fucking libs, never know what's good for 'em.

LIBERALS SUCK (except for Obama). All jokes aside, very entertaining. Paulson could've shown some damn argumentative abilities to convince people why fannie/freddie should be saved

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http://modernyuppie.blogspot.com/
The musings and antics of a Meathead College Wrester turned Asset Backed Securities trader living in The Rotten Apple.