Having watched today's Senate Banking Committee hearing into the Bear Stearns bailout
(I call'em the way I see'em), I have a few questions.
Every senator begins the seven minutes of questioning time allotted to him/her by saying: "Seven minutes is such a short amount of time." Why is it those minutes seem to speed by for the senators but seem to inch along like the grade school clock before recess for those watching the proceedings? And, if indeed one has only seven minutes, why waste 15 seconds pointing out that fact?
Why is it that watching the British Prime Minister on CSPAN answer questions before the House of Commons is so much more entertaining than watching a Senate hearing and when are our elected officials going to start making those buzzing hear, hears in response to the questions and answers of the Committee members and the panel?
Obviously Senator Dole doesn't want to make the same mistake that one of her Congressional colleagues made and confuse FED Chairman Bernanke's resume with that of Treasury Secretary Henry Paulson but, damn, couldn't she be a little bit more extemporaneous? Not that she was alone, many of the questions were so predetermined that one had to wonder if the people reading them had been listening to the previous questions at all? Why keep tilling the same ground? Committee Chairman Christopher Dodd asked, "Was this a justified rescue to prevent a systemic collapse of financial markets or a $30 billion taxpayer bailout for a Wall Street firm while people on Main Street struggle to pay their mortgages?" Was he expecting Chairman Bernanke to break under the pressure of the inquisition like setting and admit that he was a heretic? "Oh my God, Senator Dodd, forgive us, we have sinned and we are sorry, grievously sorry!"
And, while we're at it, other than Hollywood awards shows and news anchors thanking correspondents for their reporting, is there any place on TV where more ass kissing goes on? Why not let one senator spend his/her entire seven minutes telling the panel what a good job it did instead of having every senator use an additional 15 seconds of the precious time allotment giving Chairman Bernanke's butt a big wet one? And why did Senator Dodd have to thank the panel so profusely for attending the hearing and answering the questions? First, if they take the time to show up, hey, why not answer a few questions and why do they have to be effusively thanked for attending in the first place? Did the Chairman and Timothy Geithner, President of the New York Regional Bank, have to use sick days to appear? Isn't it part of their jobs to let the tax paying public in on how it got put on the hook for 30 bil? Did Jamie Dimon and Alan Schwartz take vacation days in order to attend the hearing? I used to take days without pay to work in my son's kindergarten class and didn't receive half the thanks for spending six hours with thirty five year olds that these guys received for spending four hours answering puff ball questions before taking a limo to the National Democratic Club or the Capital Grille.
Does Senator Evan Bayh try to look like Kevin Kline in Dave?
Is there even one senator who falls into the mold of the late former Senate Majority Leader Mike Mansfield whose brevity in both questions and answers was lengendary?
Why is it the two aides sitting behind each senator always wait until their guy or gal is on screen before leaning over to talk with one another? They have something more important to say than the Chairman of the Federal Reserve? Well anyway, didn't their mothers tell them it's impolite to talk while someone else is speaking?
If Bear was for all intents and purposes bankrupt Thursday night before the Sunday night bailout, why did the stock trade on Friday?
Why is it that senators who can't find the time to show up for votes have no trouble at all showing up for TV face time? Lots of places require that in order to be paid for a holiday employees have to show up for work the day before and after the paid holiday itself; the Senate should have the same rule, if a senator doesn't show up for the silly votes in the middle of the night, he/she can't show up for big name televised hearings.
Where is the sign up sheet for the list to see the collateral for this deal? All of the senators kept asking to be put on it but no one ever said where the sign up book was; although I guess there's no real need to see the debt - Bear Stearns couldn't get anyone to invest after having looked at it but both Chairman Bernanke and Jamie Dimon assured the committee that it was A-OK.
Yeah, I know there were exigent circumstances and this was a unique crisis, we would have all woken up with only four fingers if something had not been done - but maybe next time could the hearing happen before the fact instead of after?
Like I said, I have a few questions - having a few answers was never mentioned.
Every senator begins the seven minutes of questioning time allotted to him/her by saying: "Seven minutes is such a short amount of time." Why is it those minutes seem to speed by for the senators but seem to inch along like the grade school clock before recess for those watching the proceedings? And, if indeed one has only seven minutes, why waste 15 seconds pointing out that fact?
Why is it that watching the British Prime Minister on CSPAN answer questions before the House of Commons is so much more entertaining than watching a Senate hearing and when are our elected officials going to start making those buzzing hear, hears in response to the questions and answers of the Committee members and the panel?
Obviously Senator Dole doesn't want to make the same mistake that one of her Congressional colleagues made and confuse FED Chairman Bernanke's resume with that of Treasury Secretary Henry Paulson but, damn, couldn't she be a little bit more extemporaneous? Not that she was alone, many of the questions were so predetermined that one had to wonder if the people reading them had been listening to the previous questions at all? Why keep tilling the same ground? Committee Chairman Christopher Dodd asked, "Was this a justified rescue to prevent a systemic collapse of financial markets or a $30 billion taxpayer bailout for a Wall Street firm while people on Main Street struggle to pay their mortgages?" Was he expecting Chairman Bernanke to break under the pressure of the inquisition like setting and admit that he was a heretic? "Oh my God, Senator Dodd, forgive us, we have sinned and we are sorry, grievously sorry!"
And, while we're at it, other than Hollywood awards shows and news anchors thanking correspondents for their reporting, is there any place on TV where more ass kissing goes on? Why not let one senator spend his/her entire seven minutes telling the panel what a good job it did instead of having every senator use an additional 15 seconds of the precious time allotment giving Chairman Bernanke's butt a big wet one? And why did Senator Dodd have to thank the panel so profusely for attending the hearing and answering the questions? First, if they take the time to show up, hey, why not answer a few questions and why do they have to be effusively thanked for attending in the first place? Did the Chairman and Timothy Geithner, President of the New York Regional Bank, have to use sick days to appear? Isn't it part of their jobs to let the tax paying public in on how it got put on the hook for 30 bil? Did Jamie Dimon and Alan Schwartz take vacation days in order to attend the hearing? I used to take days without pay to work in my son's kindergarten class and didn't receive half the thanks for spending six hours with thirty five year olds that these guys received for spending four hours answering puff ball questions before taking a limo to the National Democratic Club or the Capital Grille.
Does Senator Evan Bayh try to look like Kevin Kline in Dave?
Is there even one senator who falls into the mold of the late former Senate Majority Leader Mike Mansfield whose brevity in both questions and answers was lengendary?
Why is it the two aides sitting behind each senator always wait until their guy or gal is on screen before leaning over to talk with one another? They have something more important to say than the Chairman of the Federal Reserve? Well anyway, didn't their mothers tell them it's impolite to talk while someone else is speaking?
If Bear was for all intents and purposes bankrupt Thursday night before the Sunday night bailout, why did the stock trade on Friday?
Why is it that senators who can't find the time to show up for votes have no trouble at all showing up for TV face time? Lots of places require that in order to be paid for a holiday employees have to show up for work the day before and after the paid holiday itself; the Senate should have the same rule, if a senator doesn't show up for the silly votes in the middle of the night, he/she can't show up for big name televised hearings.
Where is the sign up sheet for the list to see the collateral for this deal? All of the senators kept asking to be put on it but no one ever said where the sign up book was; although I guess there's no real need to see the debt - Bear Stearns couldn't get anyone to invest after having looked at it but both Chairman Bernanke and Jamie Dimon assured the committee that it was A-OK.
Yeah, I know there were exigent circumstances and this was a unique crisis, we would have all woken up with only four fingers if something had not been done - but maybe next time could the hearing happen before the fact instead of after?
Like I said, I have a few questions - having a few answers was never mentioned.
I liked this entry ALOT.
The answer to all your questions is the same, it's called FASCISM.
Big Government and Big Business completely allied against We the People.
The US Treasury, as bought out by Goldman Sachs is the largest leverage buyout in the history of the world. They now own the US.
All the actors in this DRAMA, have gotten rich and can afford barbers that make them look like Kevin Kline.
We must show DEFERENCE, as Hank Paulson has now announced that the US Treasury is the Fifth Branch of Government, after that mysterious Fourth Branch known as Richard Cheney.
Sound too simple? Well, they created a thoroughly Orwellian world in the past BuZh/Clinton DYNASTY.
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Thanks for your very interesting comment.
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