Alan Grayson and Nassim Taleb Talk Punishment

[abeismain]

2:16 This guy really wanted to say the most useless and stupid comment at that moment....wtf was he trying to achieve with that nonsensical comment! Makes me so angry..

[abeismain]

1:06  Dr. BOOKSTABER !?? LOL I'd love to stab those college books! Every year a new fucking edition, and every year $150 per book for people majoring in the sciences!

[gettingahandle]

They seem to be merely chatting over the mere possibility of giving a mere slap on the wrist

[idmji89]

a jew and an arab working together against the banks! thats a dream!

[Shad201]

Love this Guy..

[ujean56]

I'm not a partisan shill - you are - and an unwitting one at that. I don't recall ever comparing Bush to Hitler, you have me confused with someone else (although the comparison has historical significance outside simple gain-saying). There is no shoe on another foot. Grayson is not now, and never was the president, voted in with tremendous controversy and rule manipulation. All that aside, you have never made an argument. You have only made angry accusations and called me foul names, right?

[causeandmistake]

any1 notice the bloke to bookstaber's left is rubbing his crotch the entire time

[ujean56]

Grayson was not voted back? Florida doesn't care at all about this issue or any of the other issues Grayson brought to the front burner. What is in the water in Florida?

[nagee76]

@ujean56 Grayson deserved to go - no one likes a hatemonger who indulged in vicious and hateful rhetoric that belongs in MSNBC, DailyKos and HuffPo - not the US House of Congress.

Btw, Grayson should be asking his Democrat party members as to WHY they voted to bail ALL these RAT bast***rds out. in 2008.. TARP was the BIGGEST Fraud committed on the US taxpayer all in the name of stability and it saved all those banks which should have failed.

[ujean56]

@nagee76 Dear @nagee76, Thanks for your informative comment. You are correct, Mr. Grayson was (is?) responsible for everything bad in the US today. My advice to you is to run - don't walk - to the nearest psychotherapist. Thanks again for your comment. Have a nice break down.

[nagee76]

@ujean56 Huh ?? A typical leftie... can't stand even a remote bit of criticism about one's own demigods - and not very good at comprehending plain English either... Show me where I said that Grayson was/is responsible for EVERYTHING BAD in the US today and I will pay your taxes for 2010....

This offer is valid till April 15th - so hurry up... RETARD.

[ujean56]

@nagee76 I'm sorry, I guess I didn't ,make myself ridiculous enough for you. Please, let me know how I can help you feel more intelligent than me, more right in your assessment of reality, and more certain that I am a "RETARD". In the meantime, I will be having interesting political discussions with people, not quite so addicted to the "right this-left that" TV view of US politics. There, see, you were right! I must be a retard, I don't believe in the TV analysis of anything - thanks!

[nagee76]

@ujean56  You sure did make yourself look foolish with your comments. You have no idea of Alan Grayson's agenda - it is nothing more than a cheap stunt to claim brownie points... if you really want to know why banks have got away with bloody murder, it is because they have all political parties in their bag... Grayson is simply grandstanding and is not bothered in the least to ask himself why exactly a Democratic majority in the House approved TARP.

[ujean56]

@nagee76 Once again, sorry I don't have your insight into all things good for America. If Mr. Grayson is "grandstanding" he should be voted in for doing a better job than any of his Republican counter parts. He may have, as you suggest, an "agenda" (what politician doesn't?). He asked all the questions to which most non-FOX News watchers want answers. He even asked the right people! Problem is in Washington you're not allowed to ask. I think you hate him because he is intelligent and educated.

[nagee76]

@ujean56 Your blatant prejudice for "Fox news watchers" shows your ugly sense of partisanship. Those evil Fox news watchers are Americans.too...l just like you.. (btw, I am not American). They have these very same questions too. The fact that you will be defending a moronic flamethrower at the cost of deriding your own fellow American citizens is S-I-C-K. You have ZERO idea of how Washington "works".If you think Grayson was doing nothing more than a stunt, you are easily deceived.

[ujean56]

@nagee76 Sorry but I base my comments about FOX news viewers on statistical facts (see polls by NBC News and the Wall Street Journal), not on emotional knee jerk comments I picked up at a tea party rally hosted by Glen Beck and the Koch brothers. I have prejudice against FOX news (AKA Rupert Murdock). Not the viewers. I have prejudice against billionaires and status seekers willing to run for government office and say anything to keep the private funding and votes from the gullible flowing!

[ujean56]

@nagee76 Do you always comment about things you have absolutely no clue about? For the record, I don't give two hoots in a bucket if you think I "look foolish". Keep your opinions to yourself and comment on the video. If you know as much about Grayson as you do about me, your talking through your hat! You have no basis on which to call me either a RETARD or to claim that I look foolish. I will now assume you don't know much more about Grayson. Have a nice day.

[nagee76]

@ujean56 Oh brother... i dont know about Grayson ?? He is nothing more than an attention seeking flamethrower who cares two hoots about the banks or what they do. US politics is full of grand standers like him..... there was a reason he was voted out. He was nothing more than a show pony and people had enough of his hate mongering

[ujean56]

@nagee76 If you're not an American, who do you think you are claiming you have anything at all to say about Grayson??? You're just a tourist. Why don't you comment on politics in your own country instead of playing your weird game of monkey see monkey say. Mind your own damn business will you? If you're lonely, there are tons of online dating services you could play around in.

[nagee76]

@ujean56 Oh please... partisan shills like you MORE THAN WELCOMED opinions from all over the world when Bush was compared to Hitler... Now that the shoe's on the other foot, and you suddenly become indignant ? I lived in the US for a decade and know more about your politics than you would know or care to learn no matter how long you live there....

You cannot stand criticism, dont come up with one cogent argument to debate and are a piss poor rep for your country. STFU

[ericclaptonismygod31]

Greyson is scary. I see him as an executioner in another life.

[brendanrhys]

Love Grayson. Love Taleb. It was awesome seeing these two minds bounce ideas off of each other.

[equsnarnd]

First you assholes will have to have some character with which to do that and when you get it you will see the problem dissolves and that you are the problem, not the cure. If we want to punish people let's go after the politicians involved FIRST!!!

[equsnarnd]

This is an ugly joke! Legislate morality on Wall Street while gov't officials run amok! It started with the gov't and if those folks aren't taken down then nothing will change.

[equsnarnd]

Look folks - pull your heads out of where the sun doesn't shine. These Wall Street bankers need to be skewered - at least the one's involved in helping to crash the economy but even more responsible than these business folks is the following list: Senator Chris Dodd Senator Richard Shelby Senator Barney Frank Henry Paulson Ben Bernake Alan Greenspan George Bush Barack Obama Timothy Geithner If you don't go after these folks then whatever you do is nothing more than window dressing.

[DrivenMind]

@equsnarnd Could you elaborate a little more on how the individuals you've listed are involved in this whole thing? I'm familiar with Paulson, Greenspan, and Bernake but not so familiar with the direct involvement of the others you have listed.

[equsnarnd]

@DrivenMind The three Senators were all involved in banking and finance and wrote legislation that caused the current collapse. The two Presidents are both economic idiots without as much sense as a grocery clerk when it comes to finance and the economy and promoted and promote policies that have brought about this disaster and continue to worsen it. There are 100+ clips on utube with more explanatory power than I have space for. Put in Schiff + google to start for some understanding.

[KathysLaw]

Alan Grayson never change. You have a gift.. and that's that you have some balls. the day you change ... america will loose a great man. thank you so much for everything you've done. keep it going.... i support you all the way!

[JohnhK738]

Last night Grayson came over and he sucked my dick so good, he's gentle yet keeps the suction firm.. oh god he's done it before I could tell. <3 Grayson.

[Creedima]

The best way I can see to keep these traders honest would be to make them back there trades with there own money....if it goes bad they are in the poor house....they would also be on the hook for any "extraordinary" dept. So any money they would make in the future would be applied to the previous dept.....except for a living wage....say 40k a year.

[dogcow666]

taleb is an absolute genius one of the few who see through the bullshit

[xadam2dudex]

the bankers knew what they were doing they knew the assets were toxic because they set it up that way..they were out to get as much money as they could before the system crashed.. they knew their insiders in the government would bail em out..that's why they were put into the government not just to kill the regulations but to clean up the mess after the bubble burst

[DoCuOrange]

Let risk managers take the wrap for this? Is he crazy? As if any trader listens to risk management...

[charliebaird13]

6:30

Dude on the right is totally on a black berry

[30percentplusreturns]

Why is grayson the only guy going after these bankers???????? Can it be because hes new in congress and not corrupted from payoffs from the banks?????????????????? Im sure 99% of congress has dirt and blood on their hands from this crisis.

[TheGodlessGuitarist]

@30percentplusreturns

"Im sure 99% of congress has dirt and blood on their hands from this crisis."

Have you looked up which politicians did what? which politicians voted on what and which way? Otherwise you have 99% guessed statistic.

[hughie1942]

look at the hands behind  tic tat toe

[SDS4BO]

Character was gone the moment the Fed began to practice fractional reserve. It has nothing to do with Wall Street behavior, those are private contracts and should not have any drop of public money given to them in the first place. "Publicmoney" was corrupt from the get-go, because it enabled risks that otherwise would not have happened. The root of the problem is the Fed and the fractional reserve system. The enabler of corruption was the "too big to fail" philosophy of the Congress.

[xdir]

The problem with banker bonus is rewarding short term success on long term bets, why not change the rules to defer bonus' until everything is settled.

[charleshoskinson]

why not simply let banks fail when they are suppose to fail. The free market brutally punishes inefficiency and corporations that reward bad behavior will fail. AIG wouldn't have had any executive bonuses this year if it went out of business in November last year.

[xdir]

In a perfect world yes and it was expected last year but the bankers had an insurance plan, over complicate the mess they created, If the fed had not stepped in last year the financial system would have ground to a halt, solid companies like Apple & Google would collapse by not having liquidity to make payroll.

[captcrais101]

Hey Grayson, WH did you vote to defund ACORN?

[daejoon82]

Bookstabber tries, but I agree, I question his competency/experience/insight into these matters. For example: he mentions that risk managers should be held accountable for bad decisions. While that may sound like a good idea (and is probably well intended), risk managers have no clout. You really need to have the CEO and possibly Board of Directors assume liability for this to actually have a fighting chance of working.

[rootytooty23]

Boostaber is talking out of his ass, who put this guy on the stand? get someone with a brain to asnwer questions to complex situations. This guy sounds like he works for wall street, beating around the bush and not answering questions.

[SherrieLeaLaird]

I am so happy with the 2 million protesting that I forgot who Taleb was.

I love Grayson and I can't wait to see them all behind bars.

hit me up later.

[jeremyemilio]

Oops. Wrote my previous reply before I read this. Good to see you've given Taleb another look. We've got to stick together.

[razerfish]

If you let the businesses go bankrupt, you don't need to try to make these silly regulations.

[WarDogLRS]

With the exception only of the period of the gold standard,all governments of history have used their exclusive power to issue paper to defraud and plunder the people. Friedrich Von Hayek

Dickens wrote: "Credit is a system whereby a person who can't pay gets another person who can't pay to guarantee that he can pay."

Alexander Pope:

"Blest paper-credit! last and best supply!

That lends corruption lighter wings to fly."

[WarDogLRS]

The end of democracy and the defeat of the American Revolution will occur when government falls into the hands of [private cartel] lending institutions and moneyed incorporation's.

President Thomas Jefferson (a founder of America in condemnation of present and future monopoly money power.1743-1826

Paper money is poverty, it is only the ghost of money, and not money itself." Thomas Jefferson to Edward Carrington, 1788

[Jude1930]

This talk of bonuses is a red herring. The bonuses are in the millions. The practices which includes the pay off to counterparties nationally and internationally, including Goldman Sach and Barclays, are in the BILLIONS! Let determine what this is all about. I think Eliot Spitzer is more relevant here, not that there shouldn't be clawbacks. There should most definitely be!

[jeremyemilio]

Don't be obtuse. If people are given 20 million dollar bonuses to engage in actions that risk bankrupting their companies and losing hundreds of billions of other peoples dollars, with no risk to their own 20 million dollar bonus, you are going to try to convince me that the bonuses are irrelevant? The purpose of clawbacks isn't to recoup loses. It's to remove the incentives for misbehaviour. Leave these incentives in place, and you as much as guaranteed the misbehaviour will continue.

[charleshoskinson]

You're an idiot. The executives did a wonderful job at the top firms. They engaged in risky behavior knowing full well that the government would pay for any mistake they made. This wasn't the free market. It is corporatism, which your democrat heroes voted for- include the messiah Obama

[jeremyemilio]

Ummm... Why would you call me an idiot in one sentence and then in the next paraphrase my argument for me?

"The executives did a wonderful job at the top firms. They engaged in risky behaviour knowing full well that the government would pay for any mistake they made. This wasn't the free market. It is corporatism."

Precisely the point I was making. I have no democratic heroes... especially Obama. What exactly is your issue?

[ipwnorcs]

The natural evolution of capitalist society. The exploitation of the ruling class being laid bare before the working class who create the wealth.

[soundmoneyfan]

got to love that grayson!!

[SherrieLeaLaird]

I loove that Grayson!

[trime1851]

Excellent video!

Unfortunately people who make criminal decisions and reap huge benefits are allowed to hide behing the corporate shield since all of management is a party to the larger crime.

The bailouts of last fall and winter were the biggest fraud in the history of the world! This was facilitated by the bribes, er - campaign contributions, that they pay to our legislators. Wht else would our legislators give hundreds of billions to these crooks?

[DavidAKZ]

Could someone post a link to the whole hearing thanks ?

[vict0ria7130]

"find people who did this" says taleb. i think we already know who they are and why they are not punished. and guess what mr. taleb - i think you're one of them and that's why you are not looking into who stole this money.

[mongobobo]

you don't know what you're talking about. Talib was warning of this disaster years ago and has in fact made millions off of it in a legit manner by shorting the market all the way down.

[SherrieLeaLaird]

no one makes money 'legitimately' while people are losing their homes.

You are a plant.

[mongobobo]

"no one makes money 'legitimately' while people are losing their homes."

I just had to rewrite that sentence because it was so fantastically stupid.

[hybreedu]

That's just an ignorant statement. Mr Taleb has spent a _long_ time trying to tell people about the risk of something like this happening. That Fannie and the others were going to go bust and that their way of doing business was a risk to society.

In 2008 he put his money where his mouth was and made a bet that the whole system was going to come tumbling down. And thus secured his and his family's future, what's immoral with that?

[SherrieLeaLaird]

Insider information is nothing amongst these cheaters. First of all if he cared about the people he'd be able to answer Alan and tell him just where the money went so the people and Alan could go get it. It's ignorant of you to believe anything this SECRET GREEDY fed have done.

You are clearly a traitor. The people want their 27 Trillion back THEIR 27 Trillion and the health care issues will be just fine.

Go down for Treason with the rest of the disinformationist time wasters

[hybreedu]

Insider information? He looked at their data and said that the house was on fire and no one listened :P And how the hell could a former trader and current professor/writer now where the money went. Plus, if you actually listened to the other parts of this hearing you would have heard mr Taleb criticize the fed, the bailouts and the stimulus.

Just get real and understand that this guy is mostly on your side...

[SherrieLeaLaird]

no one likes bernanke.

He's not wanted.

He's NOT for transparency so I guess this is where you get blown out of the water and the conversation ends. TRANSPARENCY, AUDIT the FED. END OF STORY....So whip out those calculators enough talk from the cheap seats. IT's about DOING!!!

[SherrieLeaLaird]

Okay I digress on the Taleb dude for now.

Lets see what happens.

He needs to be balls to the wall as they all do.

He can't ride the fence.

[1958louief]

This sounds like a bunch of BULL S@#T

too me....

Thanks Rep. Grayson

[davidb72]

Thank you for posting this, it at least gives us some confidence that our government is doing "something" on our behalf...

[Diatonic135]

wall street is naturally gifted at showering money on themselves, and wiping their ass with it when they aren't showering with it.

[MooseOfReason]

Don't want the bonuses? Don't pass the bailout in the first place!

What better punishment than incompetent business going bankrupt?

[libertyeconomics]

Leave it to Congress to "legislate character."

[000deadcalm000]

Much respect to Rep. Grayson. The man has bigger balls than Chuck Norris!!! These are exactly the type of people that all US Citizens need to represent their interests, NOT THEIR OWN AGENDAS.

[InMooseWeTrust]

Alan Grayson's constituents must be very happy right now.

[Diatonic135]

i'm jealous of his constituents.

I wish he would come to California and chew Arnold Schwarzenegger's ass.

[Danster82]

none of this is working its all too surface level, the whole finacial system needs throwing out and discussing surface issues isnt going to fix anything.

The corruption goes to the core of every institution including all sectors of the government, there is no power or effect happening in this room, the only answer now is to go off grid start using alternative currency's, and stop paying tax's, people may not chose to do this but they will be forced to as the debt burden slowly increases.

[SherrieLeaLaird]

Rep Alan Grayson is like a rock and the other dudes are stammering stuttering quivering nervous buffoons are BUSTed

[mongobobo]

you don't know what you are talking about. Talib is one of the people who saw and warned of this disaster years ago. He doesn't want tax payers bailing out failed institutions.

[SherrieLeaLaird]

The guy is shitting his pants and stuttering...anytime someone is being questioned by someone who wants the fed audited is a problem other wise THEY'd be on Grayson's side questioning the fed too, soo.....

It looks like it's you who 'don't know what you are talking about'

[mongobobo]

What made you think he doesn't want the fed audited?

[SherrieLeaLaird]

your 'planted ass' made me KNOW it.

yeah it's fantastically stupid that a Government steals money, not know where it went all the while paying bonuses to NOT lend money to it's own citizens then they can lose their house and jobs and then not even be able to replenish the 'Stolen' money....since it is so stupid, what's the real motive behind it? and since you are so Phenomenally Stupid whats the motive behind your mom not aborting you while she had the chance. Traitormanship is so unbecoming.

[vict0ria7130]

cheers mate :) i'm with you on this one

[SherrieLeaLaird]

Thanks, Vic!!

xo

[hybreedu]

Well, he always stutters a bit. Not a native speaker...

His point for the last decade plus has been that the whole economics establishment is run by incompetent morons who constitute a danger to society. He's most definitley not on the fed's side, as he has blasted Bernanke for a long time...

[SherrieLeaLaird]

Either you're his boyfriend or you'll believe anything...hey yeah I got some bottled air for sale.

Get real!!

[jeremyemilio]

Ummm... Taleb is on Grayson's side. Grayson recognizes him as an ally and was using Taleb's testimony to buffer his own case through expert opinion. Please note that I'm not trying to offend you or put you down. I'm on your side and I'm with you on Grayson. Just clarifying that Taleb is one of the good guys. Don't just take my word for it; look him up. We need to recognize allies.

[vict0ria7130]

well first you appear to know so much about this guy but you can't even spell his name right, so to me you're not very credible...

and if indeed he doesn't, good for him :) but what makes you think that capitalism is that good? he said that he is making a "capitalistic argument". we are living in a capitalistic society, where "the means of producing wealth" is in private hands - the federal reserve.

why can't he say "yes, these people have to pay for what they did"?

[mongobobo]

My opinion is irrelevant. He believes in a free market that allows failures to fail is optimal. If you believe in a planned economy then that is your business.

[SherrieLeaLaird]

You seem to know him cocksuckingly well, how lovely for you. Are you the bottom or the top bobo. Cigarette after?

Who gives a shit what he believes. He works for the people it's about what they believe.

He got paid and they got NOTHING for their money.

[jeremyemilio]

No, no. You have it entirely wrong. You have keyed off on a single phrase without listening to the substance of his argument and philosophy. That's dangerous. Look Taleb up. He's one of the good guys. He really, really is. Grayson is tag teaming with him, here. Can't you see that? Grayson is using Taleb to say "I told you so" to the other legislators, and Taleb is only too happy to help. I wouldn't be at all surprised if Grayson was instrumental in bringing Taleb in.

[SherrieLeaLaird]

I'm in love with Alan Grayson.

What can I say.

Superhero's busting the zero's.

P.s second

[Greywyn7]

First.