Archive for March 27th, 2009

March 27th, 2009

I’m from the Government…

Permalink | Comment (0) ~ Business - Politics

and I’m here to help.

In the video below, Tim Geithner, the man with perhaps the hardest and worst job in the world, appears before a Stalin show trial Congressional hearing whose only purpose seems to be to make his job even harder and worse.



My question is what could Mr. Geithner possibly be thinking as he is being questioned (I think that is what Ms. Waters is doing although it’s hard to tell)? By the way, Ms. Waters is a member of the House Financial Services Committee whose missions statement states:

The Committee oversees all components of the nation’s housing and financial services sectors including banking, insurance, real estate, public and assisted housing, and securities.

Thank goodness somebody in the government is providing adult leadership for the US’ financial and housing sectors.

Some background information on Ms. Waters.

Maxine Waters (born Maxine Moore Carr on August 15, 1938) has served as a Democratic member of the United States House of Representatives since 1991, representing California’s 35th congressional district (map).

In May 2008, Waters told Shell Oil President John Hofmeister at the House Judiciary Committee’s Task Force on Competition Policy and Antitrust Laws, that if he did not guarantee reduced gasoline prices in exchange for Congress allowing the oil industry to drill where it wished, she would favor nationalizing American petroleum companies.

Miss Waters arranged meetings with U.S. Treasury Department officials (in September, 2008) for OneUnited Bank to plead for federal cash. It had been heavily invested in Freddie Mac and Fannie Mae, and its capital was “all but wiped out” after the U.S. government took them over. Her husband is a stockholder (more than $250,000 as of May 2008) and former director of the bank. The bank’s executives were major contributors to her campaigns. Rep. Barney Frank counseled her against participating in the matter. The bank has its headquarters in Boston, Massachusetts, and offices in Los Angeles and Miami. It did secure $12 million in TARP money.

At least she is getting maximum use out of her tin-foil hat.

H/T to Megan McArdle for the link.


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