Wednesday, March 18, 2009

Live blogging Liddy’s testimony

Obama spends trillions, frets about millions, and defends Geithner‘s duplicity in passing him the buck. Can this guy even make change? Link to WSJ blog.

"1:41: Kanjorski recognizes the repayments, but still wants to know why the details haven’t been provided earlier. Liddy basically calls it a business and legal judgment to prevent the FP unit from collapsing. “There’s risk that that would blow up,” he said. “If it were to blow up,” he adds, it would cause “irreparable damage.” In the big picture, Liddy suggests $165 million was a good trade-off to keep that from happening.

Liddy, upon questioning about who knew what and when, says “everything we do we do with the Federal Reserve,” which sits in at board meetings and compensation committee meetings. He says he’s been discussing the issue with the Fed for three months, and assumes the information went to Treasury via the Fed. “There was no intent to deceive or hide anything,” Liddy says.

1:47: Rep. Scott Garrett (R., N.J.) asks more about the timeline. Liddy said that talking last week to Tim Geithner, the Treasury secretary, Geithner indicated he learned about the bonus issue the prior week. That appears to conflict with the timeline put forth by the Obama administration, saying Geithner only learned last Tuesday (March 10)."

So let's see. Talked last week to Geithner who said he knew the prior week--that's before we left for the Holy Land. Wonder why it's just an outrage now? Besides, Geithner was with the Fed when AIG got its first bailout. Did this tax cheat guy even graduate from college? Did he pass math?

3 comments:

Anonymous said...

"Secretary Geithner either didn't know about the bonuses, and was grossly negligent, or he did know and failed to bring this to the president's attention," [Darrel] Issa, the top Republican on the House Government Reform Committee, said in a statement. "Either way, the end result has been a significant waste of taxpayer dollars and he should take immediate responsibility and resign."

Anonymous said...

This is rich. The democrats pass the bailout bill unread, the bonuses are protected, they hire a guy for $1 a year, and then blast him for doing his job. What dopes. What clowns. If it weren't our government and our money it would be funny.

Anonymous said...

Murray sez:
If there was any doubt in anyone's mind about what idiots our legislators are, they managed to erase it today when they questioned Liddy.
All we got from voting Obama into the Presidency was a mouthpiece for the Democratic party. One who can deceive with a hand wave and a smile. Gee, remember Clinton?