Watching the Senate Testimony

Ad hoc observations.

Lloyd Blankfein seems like Al Capone as compared to Jamie Dimon as Lucky Luciano.



If I were a prosecutor, I would key in on Lloyd because of his edgy, talkative nervousness.

Is there a purpose to this questioning or is it just for show? Are they going to
be interviewing critics of the banking system's actions in this crisis at any point?

Lloyd is fruitful ground. "Money became plentiful, and so people paid less attention to risk." Put that in your pipe and smoke it, Ben.
As if anyone except for a Federal Reserve governor would not already understand that relationship.

This is pure theater.

Today's Congressional Hearing on the Banks - The 'Joe Pesci' Moment

Ackerman and Sherman were their usual feisty selves, with Sherman doing a nice job of nailing the facts down.

But for sheer catharsis the five minute statement by Michael E. Capuano (D-Mass) was the hands down winner.

I almost dropped my coffee when he said he could not believe the bankers weren't already under indictment, or words to that effect, for their action in SIVs.

When Oliver Stone makes the movie the obvious casting choice is Joe Pesci.

Jamie, John, do I AMUSE you? Get that money out on the streets you mutts!