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To: ChanceIs who wrote (241832)	3/22/2010 9:55:30 PM
From: ChanceIs	Respond to of 306849

Listened to the whole Timmy video. Glad I didn't go. Lots of gooey, soaring prose. Moved his lips a lot and said nothing. A couple of gratuitous slaps at "W." A couple of empty compliments for Obama, Frank, and Dodd. Tells all what a great job they did averting Great D II. How much money the taxpayers made through the clever TARP purchases. Props up the FED. Country better off leaving the FED with broader control. Speaks of "deep injustice" and jobs lost. Pass me some Kleenex. Says he is looking forward to reforming FRE/FNE. Tries to sound like Winston Churchill. Stepped on it a lot. Used the same word twice in one sentence, six or seven times. Audience are wimps. Nothing but slow-pitch, softball questions down the center of the plate. It seems that the reform we will have will be the most insipid imaginable. Most parties are bought into this concept of a super slush fund to bail out a TBTF when the next one fails - instead of keeping them from getting too big in the first place, and a special "bankruptcy court" to manage it. The only problem there is that the banks will own the slush fund and the court. Who will decide when the TBTF gets pushed into the penalty box?? Stated differently, why hasn't Sheila Bair closed down Citi, BofA, etc. (Answer: Obama told her she wasn't allowed to.) I have an English buddy (pro Keynes) who spent a lot of time at the IMF. I saw him Sunday. I say...'Join me at the AEI tomorrow afternoon. We can both throw rotten tomatoes at the creep.' He said...'Stop it. He is doing a good job. You have to give him credit for having the courage to go there in the first place.' I think that the AEI has gotten soft. Wouldn't want to rattle any cages too much. They probably get some big grant from the Senate Banking Committee.