you know we've been getting on tim geithner throughout and and larry
summers administered at and not a big fan of their work and uh... summit with
rob our shoreline is they always said all we had to do the bailout
but to me that's a completely insufficient answer the question is
how did you do the bail and i'm not saying you shouldn't have done a bailout
i'm saying did you really have to your way sixty two billion dollars
uh... through aaye g ok through the back door mat maybe zero written a lot about
a crude was written about it
and now they specter uh... general the watchdog for the tar program came out
and said yet they give it away army navy a larger sense some dollars predictive
first-time last night
i saw story
hey if they'd ever placing geithner
while
i couldn't believe it right now my great news i'd work that i have already track
now
you know who the possible candidate is low
the c_e_o_
of g_p_ mort
conflict academy catered by
hit you're not
cricket i mean
r_u_ joking
jamie diamond now look that let me explain
do you think i mean j_p_ morgan or among the the big big bankers
probably the best law
now why do i say that
because they were not as heavily invested in sub-prime nonsense
they didn't get is damaged as some other companies
they manage their risk a little bit better so i think you real right it's
it's is he's not the worst of the worse is that the former ceo
superstars early middle whatever it might be right
so i i come out with an open mind but i can't believe they're gonna take it
c_e_o_ over the top more banks to replace kind of an aggressive but i
wouldn't want to know i i totally understand whether
now let's get on one second so then i looked at uh... his proposals itemid ok
well maybe he's going to be tough write this
he knows i manage risk is that right
norway
opposes
every single
regulation
proposed budget by the white house or by congress as well
so in a aloha about care consumer
a group to do be a consumer watchdog
took watch out for the consumers are much i guess the banks is like now
terrible idea
across the banks too much fun
all willette or we're so sorry
and now how about the controlling to wrote derivatives and making sure that
we
model law but i don't know dildo moderator of this man backs and then at
the end as you see him oppose one possible xl after another
he'd be worse thing god
on the policy proposals right
you realize what of colour sees a c_e_o_ jpmorgan it's what is going along
yeah he's got
look ada best-case scenario
at bankers perspective is all he's happy
but he doesn't have the perspective of consumer readers not a bit perspective
of
the public good et cetera me pretty develop one he's a smart guy i'm sure
cut
right but if you're going to go in the direction of getting rid of gartner why
would you get a guy who is even further to the right of him
and for less regulation
and more out of control wall street
and so that leads us to why do you think he's going to cancer
just how many people really understand the capital flows at that level that
professional bankers
well you've got a revolving door at the fed with the regulatory agencies for
people to in-and-out so any you don't have a look at cod freight train people
who know the issues
look i'd hear you on that but there are
labor have a comment about that but i am not saying a disguise the right choice
and saying
that's they're taking behind it
idoney and look at dead i'd read the deaths of thinking behind but i think
that that's the number one prop
their number one problem is they think
who cannot get but the bank
and
d eats never occurs to them
that hey maybe the bankers are right
me the bankers are the ones i got us a into this mess and that is not the
dilemmas that know what they're doing
maybe they don't know what they're doing
i would like that's never occurred in the world do go obama
treasury department
i'd say thirty percent of government
but that's just like the ruling use thirty percent of people in any job what
that's true and in fact and we've talked a lot about this that it's not that the
top-level executives of these banks don't know what they're doing they does
that mean what they're doing to make money for themselves yeah
perfected
if one of them were to turn around and say hey you know what
i know all the tricks of the train that's why i made five hundred million
dollars or whatever i made
now look out for the consumer to make sure that doesn't happen here is my list
the policy proposals
to make sure
the bankers like me don't rock music
okay
on the most open minded man in america consider that
that is not how jamie diamonds cop
so if they go to david i mean it gets worse
and so west to answer your question
are their economy is in the country that know what they're doing
that understand the stuff
always want to give somebody lightbulb black
who are needed that personal crisis and got us out of the ethanol crisis in a
very reasonable successful way
you think he doesn't know the stuffy nose and they don't want to go to it
because he doesn't have a wall street mentality
which leads to the next question which is
why or what hyattsville bombay administration
obsessed
with the wall street mentality like they can't get their money where did
where do you think all the money comes from
so when u
say that
falwell cynic
you know the money's coming pouring into whoever doesn't know this is our hope it
doesn't have a espinoza it's not just the political contributions you have to
miss him
they go out to dinner with
who's been weakened swept through the occasion with
really talked to on the phone whose emails for the answer
john q_ public
the guy worth a billion dollars to
they want to be on the good terms with
do you think obama's in that same camp
i do you think you know bomber has been
now talking to getting to know what the harvard law school with the columbia
witnesses schools several religious coalition and yet he's been in a bubble
for a long time so you think self questioning dot is right and i those
right
what he's not so stupid
they can't comprehend that there is a bubble
you see what i'm saying that this uh... but he doesn't
doesn't have a background in economics or business
he does not make it out of that bubble
so is looking for someone who's gonna tell me
don't worry about the bubble it's a temporary thing it'll fade away once all
the other problems of the facts
yeah uh... but it's not if anything else on the same
this is the way this is that they cannot
in in its that's one of the reasons why
uh... although i'm excited today
it up from
always excited to read the news but it's a little depressing because this is
point number one
this is bad news i mean if their idea of hey all right maybe people write letters
hasn't had a little while
let's put our guy
was for the right and further in
in mashed in wall street
then you get a little hopeless
as to on this issue of whether there are going to get it right
they're not going awry
like it if their list of people that might replace guidar hey jamie diamond
but at the same time
uh...
james galbraith than bill black and joseph stiglitz
you got opioid there at least looking at the range of possibilities
jamie dot is not a range of possibilities it's a disaster
so
and again billion there was a salesman because ultimately that's what the head
of every company is
and apparently some of them self real well and likho
was saying don't get me wrong i
jude i mean is not a silly terrible ceo it like all here i've delivered is good
stuff for the bank right and in of the different banks he was the
the most at risk averse which was a good thing and j_p_ morgan is the most able
but it depends on you know
who'll
you trust in and who you thank you know who's worldview
uh... you think is the right one diving that's why i'm
began streaming down when they ask emmy's all well look at look ca
no no comment on anything like that but you know people of the service country
at some point
had you know that you gonna do yesterday
together you and your student gentle
laurette