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Thursday: Elizabeth Warren Reports

Knowledge is power.  Pass it around.

Other videos in this series can be found at oversightpanel

I picked up on a few things that Warren is too polite to say.  First, Geithner’s plan doesn’t get her full support.  Now, Warren is not a politician, so she doesn’t know how to speak out of both sides of her mouth with ease.  To me, it looks like conflict all over her face and body.  She’s trying really hard not to say what she really thinks.  Second, there are elements on her panel who do not even want to discuss alternatives to the Geithner plan.  Now, *that’s* weird.  The plan doesn’t get Warren’s full support and there are plenty of unanswered questions but you’re not allowed to discuss alternatives?  OK, this suggests that the terms of the plan as written are so favorable to some parties that anything else would be very detrimental to their outcome.

John Sununu wrote an objection to the current Warren Report in which he complains that the panel is overstepping its boundaries and criticizes it for trying to make predictions as to the success or failure of the plan.

In reviewing the drafting of the April Oversight Report, however, it became clear that
much of the content pursued topics which strayed far from the Panel’s core mission.  Moreover,
the April Report engages in a premature discussion of dramatic changes in Treasury’s chosen
approach to supporting stabilization in the US financial markets.  These and other concerns are
more fully discussed in the joint additional views which I have submitted with Richard
Given the magnitude of these differences, I am unable to support the full April
Oversight Report.

Oh, I don’t know, John.  With graphs like this:

World Stock Market Performance

World Stock Market Performance, now vs The Great Depression

And this:

World Industrial Output, now vs The Great Depression

World Industrial Output, now vs The Great Depression

it looks like it might be good to get out ahead of the curve, so to speak, wouldn’t you say?  However, it appears that Sununu would like to reduce the panel’s scope to that of a mere observer that reports what it sees and not as an oversight committee that monitors the plan, asks timely questions or issues warnings to the Congress that has the power to intervene where intervention is necessary.

Why is it that when smelly girls try to gain power or use power or even just report to power there is always a guy like Sununu sitting in the wings ready and willing to smite her?  We know that Tim Geithner and Larry Summers have no fondness for Sheila Bair at the FDIC.  And Obama treats Hillary like his personal servant.  Can I just say for the record that I am thoroughly sick of this?  It is undermining the credibility of all of these guys.  I distrust *everything* they say and my feelings are rapidly turning towards active hate of all of the male power elite who continue to stand in the way of women and good judgment.

Come to think of it, why *are* there so many women on the other side of the financial meltdown?  Elizabeth Warren, Sheila Bair, Hillary Clinton, Gretchen Morgenson (NYTimes reporter, Yves Smith at Naked Capitalism.  Many of the those who have objected to, reported on or have been pushed out of the way are women.

Go figure.


OT: It looks like WordPress has been nominated for a CNet WebWare Award.  Congrats to WordPress.  I have to give them a lot of credit for making it easy and safe to post a blog here.  Granted, we don’t have a lot of bells and whistles on our site but we do almost have 6 million hits and we couldn’t have done it without them.  They even have an app for the iPhone that I’ve been able to post from on occasion, when I’m desperate enough to type a whole post on the iPhone keyboard.  So, if you want to send a little appreciation their way, go vote for WordPress by clicking the pic below.