Friday, January 29, 2010

GEITHNER’S AIG TESTIMONY SHUCKS AND DUCKS

Testimony on Capitol Hill Wednesday was overshadowed by the pending State of the Union address, but it was major news in the making. Secretary of the Treasury Tim Geithner was the star witness as lawmakers on both side of the aisle attempted to get answers about “back door” bailouts of banks that had invested heavily in AIG and a resulting cover up by officials of the Federal Reserve Bank of New York. Geithner was Chairman of the FRBNY when the alleged cover ups occurred.


Some attendees at the hearings have asserted that the questioning was watered down. However, one lawmaker accused Geithner of offering lame excuses. Geithner claimed his actions were in the best interests of the American people: “For the first time since the Great Depression you were seeing a full-scale run on the financial system. People were taking their savings out of the banks, they were wondering if a dollar was a dollar.” He went on to deny involvement in the cover up, saying he had recused himself in the matter because he knew he was going to be nominated for his current job.


COMMENTS:
We didn’t get much in the way of answers to nagging questions. I wonder if he’s planning on properly filing his income tax return this year.


TODAY’S QUERIES & ANSWERS:
Q. I understand the Supreme Court Justices are grumbling that they may not attend any more of Obama’s State of the Union speeches? (Caroll ~ San Dimas, CA)
A. I don’t know why they’re so upset, either. He castigated and denigrated virtually everyone else in the country last night, except Pelosi and Reid, that is.


Q. Can the country draw a deep breath regarding the government-run health care plans? (Willis ~ St. Louis, MO)
A. It may well be back on the table in short order, cleverly disguised as a “jobs” bill. I heard someone in Congress yesterday say that passage of the bill would create hundreds of thousands of jobs overnight. I don't know why we need all of those jobs, either; after all, Obama saved over 2 million jobs last year. 


Q. Why didn’t Obama talk more about terrorism? (Winnie ~ Salt Lake City, UT)
A. Because, as he and Napolitano have said, “Their system works.”


TODAY’S QUOTE:
“What is a moderate interpretation of the text? Halfway between what it really means and what you'd like it to mean?” ~ Justice Antonin Scalia

TODAY’S VIDEO:
http://www.youtube.com/watch?v=7KMKD1Mi8o0&feature=ytn%3Amptnews


THE OBAMA TERRORIST TRIALS - DAY 76:

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