Thursday, June 25, 2009

Live Blogging Ben Bernanke's Testimony

We thought we might less this pass since it's being live-blogged all over the Web but then the questions started so we couldn't resisit.

Again, late in starting:

Ben gave his statement and is totally stonewalling Edolphous Towns's questions with one word responses.

Towns: FDIC said they aren't down with the BofA/Merrill Lynch, why did you blow them off? Are they not as smart as you?

Ben: We explained it to them and turns out they were actually cool with it. Similar what we did with KL

Issa's turn. He's the Bernanke/Nixonian conspiracy cover-up theorist.

Issa: Richmond Fed guy said there was pressure related to the MAC. Well?

Ben: Two things: 1.

Issa: Nevermind, I'll interrupt to give you some of my conspiracy theory.

Ben: Two things...

Issa: No, we're not finished. Did you want to fire them?

Ben: I never threatened KL, except after he said he didn't like my beard.

Issa: So it's true that you threatened him?

Ben: Can I finish my second point?

Issa: No. We don't have time.

Ben: Okayyyyyy

Issa is going on and on and on and on and on and on.

Issa isn't talking about the stability of the financial system. Who gives a damn about that Ben? I want to find out that you giving the Reservoir Dogs/Michael Madsen treatment to Ken Lewis!

Issa goes on for what seems like eternity and sums it up as: did you say do the deal or else?

Thank god Issa's time has expired.

Kucinich is spending his 5 minutes reading email. Questions are apparently not useful in his view.

Oh. Here's the question: did you have concerns about the deal?

Ben: Yes.

Ben looks thrilled to be there.

Kucinich: Do you supervise anything?

Ben: Yeah, a DQ in Princeton. Sphere: Related Content

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