Senator: “How long were you the CEO of Goldman Sachs?”
Paulson: “From May of 1999 til I left to come down here in mid-2006″
Senator: “You said didn’t realize the maze of regulatory problems that we have here on the hill and that you and other companies like yours were dealing with here. You made that statement to us.”
Paulson: “I said you have to get down here look at the people and look at the plumbing to understand it”
Senator: “But you were dealing with it on a daily basis”
Paulson: “Well I said you’ve got to see it up close and personal and step back and look at it and think about it”
Senator: “In other words you’re telling me that you didn’t know or someone at your firm didn’t know about the regulatory burdens that were placed on your firm?”
For those of you not watching the uncensored version, Paulson, went on to add:
“Senator you’re obviously not aware how this worked. Regulators came to 85 broad. I gave them the books and a rubber stamp. They pressed one against the other. We had coffee, little heavy petting, I clown faced them, and then they left. If it worked differently at other shops that’s their problem.”
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Goldman, MS (et all remaining IB’s)better pray the bailout plan is approved before 10/2.
They should play the hearings on the Lehman Brothers (Barclays) billboard.
Bess, marry post #3.
Full Stop.
it was unwatchable
bess seems to mention rim jobs A LOT in her posts. I bet she loves taking it up the rear.
I am just sitting here hoping somebody makes the “Too ____, didnt read” joke. That shit gets funnier every time.
too regulated, didn’t read.
What is the act of “clown facing” someone? Can someone describe that in clinical terms?
dirty sanchez?
Clown face – need red and white makeup. Supply the red by hitting the person in the face hard enough to draw blood, the white is applied in the obvious manner. Fun with urban dictionary and ridiculous imaginary sexual practices.
How is Goldman/Stanley becoming bank holding companies going to affect the smaller investment firms, such as Piper, Raymond James etc.?
http://www.cnn.com/2008/POLITICS/09/23/palin.foreign.policy/index.html
As a 44-year-old governor who just got her passport last year,…
Nice. Lets make her Treasury Secretary. It obviously doesn’t matter what you know.
Hey guys, they left the nations only Reinsurance company of the short selling ban. I pretty sure they the ripe fall. BRK is going BK, get in now while the gettin’s good.
# 2… they arent IBs any more.
al demicoli he knows what’s happening.
# 2… they arent IBs any more.
That was fuuny
Bess, don’t forget the patented GS bat-winging on the way out the revolving doors of 85B. It’s a tradition dating back to the days of Marcus Goldman’s induction into the fabled Stonecutters.
16 – Their ability to act as depository institutions is going to do very little to counter-act the worthless assets on the balance sheet.
-#2
You know what I think?
I think I don’t know what to think.
#19 unlike the other deposit institutions, the old IB had to mark to market. They have taken the losses and still made a profit.
#12 relevance????
Who was the senator in this excellent exchange?
It’s a bad time to have such dumb fucks in Congress. However, if we didn’t have such dumb fucks in Congress, maybe it wouldn’t be such a bad time.
It’s a horrifying milieu that features Barney Frank as the deep thinker.
Is this for real?? Did Paulson really make that comment about petting and making clown-faces?
I did a google search and I cannot find it. If so, that guy had balls the size of mangoes.
I am just sitting here hoping somebody makes the “Too ____, didnt read” joke. That shit gets funnier every time.
@24, Welcome to the Short Bus…
~SEG
I wonder what the new GS teller uniform will look like…without a doubt EVERY analyst will have to work as a teller whether GS or MS to get to ‘know’ the business…. good job I’m not an analyst!
Some one has to tell Hank to use an aftershave lotion with little or no alcohol, because alcohol can dry your skin out and make you look older.
@ cheesedog – I think they followed Carney over to his new site. I was over there and the “too _____, didn’t read” guy had been there also.
Too John Wayne Gacey with the clown shit, didnt read
Video clip in question:
http://www.cnbc.com/id/15840232?video=865149821&play=1