now a democratic reform uh... let's go to uh... rosanna stephen lynch
we feel that uh...
that the conduct of yourself and mr paulson
we're not consistently on the side of the american taxpayer
uh... an aspirin why are the beatles ample
we have the situation with their strength
the circumstances of the same the world is on the brink
we got a disaster were worried about the whole system melted down
with your support mr paulson
mister brinkley
we force
bear stearns shareholders
prone position i think that there was a high of uh... a hundred seventy two
dollars a share
in january we force them down to two dollars a share
the american taxpayer money was in the bailout
and that was something that was supported
by the fed
five treasury
because we felt that because the taxpayer was bailing them out
that the shareholders of bear stearns should not be held harmless
you have a different situation he has slightly different
number of weeks later where
we have a aji
going on
and this is these it is a credit default swaps
solo money going into any ideas going right out to the counterparties
this is a pass-through
and the folks on the other side
i'll goldman sachs
largely that's that's the principle beneficiary lawless
and we don't negotiate and nicole not ascent awful what they're getting
you're on the same position you're supposed to be negotiating on behalf of
the american people
you're saying all the regulations were different let me tell you something
we will change in the rules and regulations every single day would
taking action the fed under thirteen three hundred strode nerys circumstances
you hat every opportunity
every opportunity to weigh in on behalf of the american people and make these
people taken new deal
make them take effective dot
used out the folks out there stands
tools sense on a dog or they got
two cents on a dollar
the folks at goldman sachs bought a hundred sense on a dollar
that is just unacceptable
totally unacceptable you have the opportunity
you know i i just think it was a terrible decision on your part
and also on mister paulson spot news up later who will talk to him
bisa you inspected to too
ananda thing about changing over to the obama administration you get the same
people relying on you the american taxpayer when you're everyone job
annamaria american taxpayers relying on the up on the other job i don't see a
conflict i really don't
you could have done that the right thing by those people by the american taxpayer
because their money was put into that being put into this deal
by sarah just thinks about how i have been
what happened here hunter and i was like he got the station and at the top it all
off
that they disclose it was not fair the disclosure was not there at the proper
time to tell the american people would sell this congress what was going on
and that is just inexcusable
and it makes me delves
it makes me delta commitment to the american people it makes me doubt mr
paulson pollsters
at commitment american people and i think the commitment to goldman sachs
struts the responsibility that
bedar officials had
to the american people partisan i respect your opinion
perfect and i was having a strongly
but i complete disagree
the american taxpayer would not have been better off if the government had
made a possible for equity orders investors to get more money
in record territory would not have been better off
if we had let anticonvulsant
manifested anything added any is there a difference between given them a hundred
s
process on a dollar
and and late in the fall
this was a new game
you are creating new facilities every week to hard vote was we were going to
us we would letting people go to the discount window but never had an
opportunity to do that we what's changing the rules day-by-day and and we
had the banks
etc at a position where we could exercise a lot of leverage and and and
you chose not to do is are usually not to do it
that was a thorough rustic right
directors excuses
or in fact lane
okay with i was dying from to finally get ok he's cute asked great questions i
have some of our choice right
so what's your answer
at did you see the way you framed
he said
i don't think would have made at the record esther wooden any better off
gave we gave more to bear stearns
wonderful estimate and
yet so bear stearns got two cents on the dollar right
but it's not like the represented was arguing that we should give investors
more
majors resins
and then the american taxpayer also would not have been better off
if we did not fail at it as you know what their crack
but that was in the question
how did we bail out achi
and nml your bailout why did you give a hundred sense on the dollar
to other company
so best errors gets destroyed
but goldman sachs
doesn't even take
haircut as the representative said
you get it
larry woods again nicole way right when your mom hundred cents on the dollar
now why did you do that needs doesn't ask the question instead
he does exactly what the congressman said that he opposites
by saying
well but would you want to do collapse over him
let as you go under no i wanted you to negotiate
i wanted to say hey you know what
goldman sachs
uh... but we don't want as you go on there that's troubling we don't want you
to go under ok we think that's troubling for the global economy
but we also don't need to take a larger sense on the hot if you build your
before in his genius geiger came in
already set at goldman sachs i'm sorry had said they actually that they would
take the last
the name i'm just going to assets back for whatever they were work
and not get their under says on dollar nature and so they got for marriage
upheaval but that didn't work that an overall but say don't do it
i got your comes at a pretends
that your two choices war
you to let all that go under or you're gonna size on his own son dot
and that is totally disingenuous
a total
fabrication of context
and and not what really happened at all and not the choices that had to be made
never answers the question
why did you do it why did you give them a hundred percent when you know he
didn't happen
totally koppel
all group
so this you know feeling aggrieved act that he's got going on though
or out they argue we did the best we could for the american people
i'm not buying
any of it
hal moment
or bombers began this guy
and how do you not questionable
reason why it's in the testimony as he ever ask either of these questions
themself in the white house
and he has asked them what it why doesn't he yes the c_ dot no
or his advisers keeping that information for men
or does he know or not care
or does he know and approve of it that they go yet you should follow taxpayer
money
acquit all to goldman sachs it doesn't make any sense
doesn't make any sense