[Previously]
1:40 If possible, it appears as though whatever condition is going on with Paulson’s skin has gotten worse, and that it’s starting to peel.
1:45 Rep. Cummings: do you think it was fair that Merrill Lynch paid out huge ass bonuses before the deal went through? Do you think it was ethical?
Paulson: Those are two words.
Rep. Cummings: Oh, we’ve got a college boy in the house. Did you think it was fair?
Paulson: I’d rather not say.
Cummings pinch hitting for Maxine Waters. You worked at Goldman, did you not? You told former Goldman guy Ed Liddy to go run AIG. GS received a metric asston of money from AIG. WHAT THE FUCK HELL AM I SUPPOSED TO TELL MY CONSTITUENTS ABOUT THAT?
Paulson: Can I just say you and your friends are doing a phenomenal job? Really.
Rep. whose named I missed (but nice tie) would like to know what the government’s exit strategy is. Paulson no longer works for the government, and spends most days bird watching and counting the clams he made while working at GS, so he doesn’t much know or care.
Rep. McHenry: In my hand, I have phone records between you and Mr. Bernanke. On one given day, you spoke five times. Is that standard?
Paulson: Yeah, pretty average. You know how the balls and chains can get. Constantly popping in to just say hi.
Rep McHenry: Well it doesn’t seem “pretty average” to me. It all seems pretty shady. Shall I read from one of the call?
Paulson: Knock yourself out, I got nothing to hide.
Rep. McHenry [clears throat]: Ben, it’s Hank. Only have five minutes. What are you we-
Paulson: Okay I’m good, no more reading.
2:02 Is Paulson prepared to take responsibility for issuing the threat? Hell yeah is. You take ownership of something your proud of, and threatening that drunk while biking skiing kayaking running with the bulls having his Paulsons shorn in order to save the world is one of HP’s proudest moments.
2:17 Lady Representative from Ohio is pissed about the sweet deal that Warren Buffett got. Did you personally selected the buxom prosties (WB’s special preferred dividend)? He’s not going to answer that.
2:25 If there was some legal way to save Lehman, and if Hank weren’t always trying to make his brother look bad, they would’ve.
2:33 Apparently Paulson should’ve recused himself of everything that was going on in the fall because he worked at Goldman Sachs and it was a conflict of interest. Something about how maybe he became Treasury Secretary so he wouldn’t have to pay taxes? Are we confusing HP with certain elfin’ fellow, Rep. Stearns?
2:39 Goldman is set to pay record setting bonuses this year, most of it coming from blood money. What do you think of that? “I don’t have a comment since I no longer work there but in all honesty? Break me off a piecea that! Do you know if they’re hiring? Think I got a shot?”
Paulson has a 4:45 flight to catch. Peace, plebes, vote GS.
Bald is worth well into 9 figures and he’s wearing a watch that can be bought out of a vending machine. What a trendsetter.
The first President bush would wear the same watch.
HP is gay.
Barney Frankus
His comment about being on a ski holiday during the largest banking crisis known to man kind went off really well with stooges. He still looked a little sunburnt?
It is amazing how un f’able Sue Herrera is
what the hell is going on with HP’s pinkie?
@1 — I was thinking the exact same thing. Now I want to wear a Timex Iron Man too.
Steve Liesman thinks it OK for the Fed to threaten banks that don’t do their bidding.
Bilbray just threw up the shocker, can anyone get a screen cap of it?
7 Ask a Yakuza member.
why does paulson wear that watch? I had that in 7th grade.
@9 i love the fed, shut your whore mouth.
-SL
3 W as well. That Texas old boy thing was a show. He’s as New England Yankee as his father. Andover, Yale, HBS, summers in Kennebunkport? Come on.
The Timex Iron Man is the new Rolex Oyster Perpetual Date Sea-Dweller DEEPSEA.
Did he do his homework?
“Goldman Sach’s current chairman, Henry M. Paulson, was a protégé of Mr. Friedman’s in the mid-1970′s when he made the mistake of challenging his mentor to a wrestling match at a gathering of the firm’s executives. Mr. Paulson, a tall, broad-shouldered former wrestler and football player, went to the mat with Mr. Friedman, unaware of the wiry Mr. Friedman’s accomplishments.
Mr. Friedman repeatedly pinned Mr. Paulson, who frequently recounts the story, adding the lesson that he learned: Always do your homework.”
http://tinyurl.com/kng2ue
I just bought a Breuget. I love bonuses.
13 Oh yeah! Well I hate the Fed.
Ken Lewis
5+ years after the fact, my wife is still pissed that I got married wearing my Timex Ironman watch (its in all the pictures). Vindication at last. Good enough for the Bald; good enough for me (and her)…
@9 – Liesman is correct for once. Listen, these tools took too much risk and it came back to bite them in the ass.
Plus Hank fishes with his bare hands. BARE HANDS!
Never mess with a man who goes noodling for fun
Does anyone else see any similarities?
http://www.theforce.net/swtc/Pix/dvd/zs/rotj/unmasked3.jpg
20 And who facilitated the risks for these tools to take?
HP and Barney Frank are canoodling for fun.
@9: Steve Liesman thinks it’s OK to tag team a collie with Dennis Kneale.
@1 You dumb shit. He’s on national TV and he orchestrated the biggest heist in the history of American business.
Do you think he really wants to have an angry mob with pitchforks hunting him down?
@25 – It’s not?
@1 are you homo? otherwise why do you give a fuck what kind of watch he wears?
@23 – No one, which is why some blew out, and others were close. KL needs to shut his mouth and be thankful he has a job.
Because @12, Paulson doesn’t need to compensate for his inadequacies with an expensive watch like you do. Douche.
29 Only the banks are to blame for this mess?
Is Maxine going to speak?
@31 – 29 here, The banks such that their financial engineers created the leveraged products and their risk managers didn’t know how to properly manage the associated risks. Also, the ratings agencies that were clueless in the same way as the banks’ risk managers.
@32 no. she’s not on this committee.
@26… the folks at Fan and Fred are laughing hysterically….
Peanuts, buddy, peanuts.
31… yes, only the banks. You indebted homeowners and speculators are absolved. Go in peace.
34 All true. Fed, SEC, Treasury, CONgress – innocent?
No helicopter looking for the murder Two in the morning got the Fat Burger
Even saw the lights of the Goodyear Blimp And it read Hank Paulson’s a pimp
This is the dumbest live-blog I’ve ever read. At least dealbook is covering the substance of the hearing. Your coverage consists of nothing more than a string of insults and lame jokes. Juvenile, at best.
@39 = andrew ross sorkin. also, dealbook is summarizing what’s happening. for the people actually watching the event, that’s not value-added. finally, eat a dick.
39 Please go back to watching The View.
@39
Welcome to Dealbreaker, shithead.
-Bawldeep Inyamom
@37, 34 back. Treasury under HP did what they needed to. Treasury now needs to STFU and let Ben and Co. play cleanup.
Everyone you listed has some blame, the most, IMO, lies with the SEC because they are responsible for the oversight of tradable instruments. The Fed and Treasury can combine like Voltron and become the lender of last resort.(each on their own is ineffective for various reasons(forex, swaps, etc…))
Right now, honestly, most of the questions today are coming from tools that are just looking to passify their districts, even if the questions are uneducated and asinine.
Paulson needs to Hulk-up right now and hunt these guys like the 4 ft Pike he kills with his Bear hands.
congress is so dumb. DUMB.
Shh Maxine is on!
That is a handsome man. What I would give to cover his beautiful bald head in crisco, ram in straight up my ass, and then spin around like a top.
gay in Charlotte
Hey has anybody mentioned that watch?
43 Will agree to disagree, but anyone that thinks Liesman is a tool like I do is OK in my book.
Hey guys !)
@39 – learn to spell before you call the rest of us names!
I crushed that fuld guy and i can crush you too!
The Linebacker
@47 no
Why get a Timex Ironman when you can get a Timex Analog? Cheaper, crisp, big numbers, utilitarian – you don’t need all that beeping dim gray screen Ironman crap. All of you are disgusting sweaty hot-blooded jockstrap-sniffing proles.