Is anyone watching the live broadcast with the major CEOs on Wallstreet testifying on Capitol Hill? You can find the telecast on Bloomberg or CNBC. Any thoughts?
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Watching. Lloyd got pretty testy at the start; Jamie D looking calm as always.
I think so far it's been fine - but nothing particularly new emerged and I think some of the panellists still don't quite understand the way banking works. There's also been no real discussion of the substantial macro policy decisions made by govt which led to the crisis.
There is no way they fully understand the questions they ask. Obviously Lloyd is getting grilled the worst since its the populist thing to do. I found it interesting that he admitted that Goldman "may have acted in some element that is now considered fraud in the market".
Moynihan looks uncomfortable at times.
Haha they just made the correction that Lloyd said "froth" and not "fraud". I was shocked to hear that he said that but if it's not true then its just funny. They are definitely grilling him as usual.
this guy Bill Thomas is a total idiot. Discussion regarding Derivatives going on to OTC was quite interesting
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