House Finance Panels Rips Bankers 02/11/09

[NarcolepticDogstar]

@7700jb piss away off. your a fucking wall street WHORE.

[cml4456]

From my point of view, it's like this... You couldn't afford that $300k house and you knew it. Then you default on that loan and bitch and blame these investment banks for your own idiocy. If you borrowed $100k from a loan shark and knew that if you didn't pay back, he'd kill you. You would not take the loan. SAME THING PEOPLE.

[NarcolepticDogstar]

@cml4456 Well, YOUR point of view is WRONG. Period. It just proves you don't know DICK about what your TALKING ABOUT because it is NOT that way AT ALL. PERIOD. Why don't you try fucking LOOKING INTO SOMETHING before you open your gob about it? EH? Maybe THAT would be a GOOD IDEA. They made these loans to people ON PURPOSE THEY WANTED THEM TO FAIL THEY BET AGAINST THEM. IT WAS COMPLETELY FUCKING CORRUPT. THEY LENT TO PEOPLE THEY HOPED WOULD DEFAULT. THEN WE ALL PAID FOR IT. SO STFU.

[seckermatt]

you don't want your money to make huge bonuses? bollocks.

[aronwilling]

0:35 The CEO does not know if his company has lent out money for credit default swaps?? Guess he's spent too much time looking smug to furnish himself with basic information such as 'for what purposes are our clients using the credit we lend them'.

It's not like credit default swaps amount to a small portion of their credit lending pie. 

[olga2415]

What I just saw is either: 1) career suicide, or 2) the greatest acting job I have seen in a long time. [When is his next movie coming out?] I will remain cynical until I see some real change take place back to bank function as delineated in the constitution of the united States of America. If Capuano is for real, look for the sequal: He'll be discredited and disgraced on some trumped up charge while his "constituants" sit their with their heads up their ____(you fill it in).

[salman1234567]

you mans are uneducated, all these people are working together, so there plan goes acordingly, behind the scenes there sipping on tea together blud, dont get fooled, there acting...!!

[craigenputtock]

Hey, folks, just vote Republican next election ... and get Bush 3.0, just as Obama is Bush 2.0 ... just as YOUR GOVERNMENT IS CORRUPT SO WAKE THE HELL UP!!!

[bluesuit5]

Its easy, throw their fucking asses in prison hard labor, sell off all they owe, these bankers are crooks

[perlaand]

@bluesuit5 You betcha

[ELZ388]

Considering Capuano represents Cambridge, Massachusetts where some of the cleverest people in the country live, he is flipping stupid!

[perlaand]

@ELZ388 It just came that I saw Capuano speaking for the first time. Could you explain why you think he's flipping stupid?

[ELZ388]

@perlaand

Capuano does not backup any of his argument with facts, and makes a series of sweeping statements about the causes of the crisis which are in effect very subjective. He then goes on to proclaim how he has none of his money in any of the defendants banks, something completely irrelevant to the inquiry. He is all bluster and very little substance. I concede calling him "stupid" may be a little strong. Nonetheless I find his style embarrassing and over-emotional.

[perlaand]

@ELZ388 I guess the purpose of hearing is collect data so the Congress can legislate. During the process evidences may emerge. The hearing is just 1 step. As a congressman he can & should voice opinion so the public can evaluate him and his job. That hearing was 1 yr ago. There're now enough evidences showing how it all happened. A few financial CEOs and their entourage designed it. If they knew how it would end we don't know but they did. His is right speaking out cause those guys are crooks

[NarcolepticDogstar]

@ELZ388 Really? Well I guess you didn't have your FUCKING IRA SWEPT TF AWAY BY THESE ASSHOLES AND THEN HAVE THEM REPAID WITH OUR MONEY, WHILE YOU RECOUPED NOTHING! FUCK AWAY OFF, propellerhead.

[NarcolepticDogstar]

@karldiesen Cuapano is a Jewish name??? And even if-- SFW? Are you telling me that there weren't WASPS WHO WERE NOT ON THE CRIMINAL SIDE OF THIS DERIVATIVE & CREDIT DEFAULT SWAP shell game? Cuz if you are you are a complete neanderthalic chucklehead whose better half was left in the primordial ooze his mother swam in to get pregnant. I hope that's not what your saying. Are you stoking up your ovens? Singing your Kristallnacht Carols? Why don't you get a clue & focus on the actual problem 4 once?

[silversobe]

"The financial system has been turned over to the Federal Reserve Board. That Board administers the finance system by authority of a purely profiteering group. The system is Private, conducted for the sole purpose of obtaining the greatest possible profits from the use of other people's money" -- Charles A. Lindbergh Sr., 1923

[NarcolepticDogstar]

@silversobe I find it an ABSOLUTE MIND FUCK that there are chuckleheads who post shit on here blaming the people who took out (or got TAKEN) on the predatory loans, while these guys chose them HOPING they'd default, KNOWING they'd default, and BETTING HEAVILY that they'd default. I guess they think these guys are "businessmen" just "earning an honest buck". It's like EVERYONE FUCKING MISSED THE SCHOOL YEAR ON THE GREAT DEPRESSION AND NEW DEAL?? WTF!!?? How can there be Americans this retarded??

[theshogun77]

Look at them, they don't give a flying fuck because they're rich. You can piss and moan all day to these idiots. The only way to really hurt them is by their wallets.

[drpapa26]

This guy Capuano is really doing his job. Too bad it's a losing battle against these fucking crony banksters. They are untouchable. Makes me sick.

Bring back the guillotine and off with their heads!

[Relugus]

The banks were not "forced" to accept taxpayer money, they lobbied for it. Wall Street pointed a gun to the US taxpayer's head and said "bend over and spread your ass cheeks".

Hank Paulson, former CEO of Goldman Sachs, acted in the interests of Goldman Sachs. The "Federal" Reserve does not give a fig about Americans, it serves foreign banks.

TARP = Taxpayer Ass Rape Programme.

[911truthseekers]

AMERICANS WORKING HARD TO MAKE THE BANKS RICH, ISNT THIS SLAVERY?! Pls help expose the Zionist Bankers in Government that own the Federal Reserve and the Media!!!  Masons and Skull and bones members, influenced by Aipac and Israel!

[BeantownJim]

Congress is the cause of all this upheavel from acorn to the stimulos

[jjrglobal]

Does congress really not know a goddamn thing about whats going on?

[anglesea2]

He is an embarrassment, as in he is a disgrace.

1) He clearly doesn't understand what credit default swaps, CDOs or SIVs really are. Indeed "SIV" stands for "Structured Investment Vehicle", not "Special Investment Vehicle" (he might be thinking of a "Special Purpose Vehicle" which is actually a very different thing.

2) The banks weren't actually given an option whether to take the money, they were forced into it (GS, JPM already want to pay it back, don't need it)

3) The banks are lending the $

[wakesnowboard17]

@anglesea2 obviously most of the people that watch this video don't have the capacity to understand this, great comment.

[NarcolepticDogstar]

@wakesnowboard17 Oh yeah? And you do? Smug little prick.

[NarcolepticDogstar]

@anglesea2 Really? They are LENDING THE MONEY?? What fucking planet do you live on? Obviously you work for them or profit by these scumbags stealing our money and fucking making a loan to person A they KNOW will be defaulted on, then BETTING on this and making money on it and telling one investor to get out of a certain investment while telling others it's a good investment. Which is EXACTLY WHAT THEY DID. So your saying these are just total boy scouts right? Your a self righteous TWAT. Fuck off

[BoomerNavy70]

Phil Gramm spearheaded the repeal of the Glass Steagall act in 1999 started the ball rolling on this mess. Bill Clinton also signed the bill for approval. They are both guilty of participating in this mess.

[anglesea2]

Capuano is an embarrassment he has no idea what he is talking about.

[wericcrawford]

This clown acts like congress had nothing at all to do with the financial crisis we're currently dealing with. Talk about the pot calling the kettle black.

[uzijohn]

Talk about too little, too late!

[JohnStumpfWF]

To the moon Alice! OUCH!!! ;)

[wellsfargoinjustice]

Wells Fargo is going down bigtime.

[Retubetard]

Yes USA is doomed if we dont understand right now that it cannot continue like this way ... The price of a house is fixed on the average wages of the people who will buy it. Period. If the average wage is 35k then the average price of houses will be fixed so it could be possible to pay it within about 20-25 years. You dont sell a house to a Korean on Ebay. You sell a house to a citizen who will live in it and who work in the same area, at local average wage. This whole bubble is a HUGE lie ...

[averageworkinggal]

Capuano does not understand that securitization actually lowers lending costs and provides more capital for lending.

The problem with the CDOs was that risk of the newer riskiest loans were not priced correctly.

Securitization had worked great until it was flooded by trashy mortgages.

[Retubetard]

Ok. So the probem was that banks gave away too many risky loans in the past years creating the mess we are in right now ... and the solution is the banks to give away even more risky loans so we can continue to live on planet XS thinking everything will be fine, I will sell my house 5 trillion dollars in a few months to a mexican immigrant ...

USA is doomed ... This is not a solution. This more of the same crap we bought since mid 80s ... This system must be deeply changed or its over ..

[averageworkinggal]

The US is not doomed.

Roubini said if the banks are nationalized now, the cost will be about $1.8T.

If the banks are allowed to remain zombies, the losses could reach $3.6T.

[averageworkinggal]

What about Scumbag Congressmen like Barney Frank who funnelled TARP money to a Boston bank is his district?

[AntiBullS]

they all need to die they have no scriptural authority to live

[underpalmtrees]

its the whole picture dj ;)

[RakeRocter]

you can't give them money without accountability and then get angry at them for not being accountable. he's acting surprised that they did what they wanted with their money (so what that it came from the taxpayer or was printed). people are gonig to spend this "stimulus" money in the same way.

bankers behave like politicians - one wants money, the other wants power.

[RakeRocter]

getting angry at them does nothing but make constituents vicariously emotionally falsely satisfied. this guy simply doesn't appear to understand banking or the constitution.

[pig5689]

It's not enough to just humiliate them. That's no good. They'll just laugh about it while having a scotch at the country club. They must be arrested, without bail, and tried as terrorists and for crimes against humanity. Either that or seize & liquidate all bank assets & personal assets of all bank-whore execs. GET THIS THROUGH YOUR HEADS YOU STUPID FU*KERS! YOU DESTROYED US AND THE BANKS! PEOPLE ARE ALREADY YANKING MONEY OUT AS FAST AS THEY CAN! THESE BANKS ARE TOAST, INSOVENT & DEAD!

[pig5689]

I read these comments about Jews... don't throw stones...it wasn't just them...I think you're all forgetting these greedy incompetent CEO-whores are figuring, okay I gotta take an ass-chewing & then go back to work. These liars were yelled at that they're incompetent, untrustworthy and "I wouldn't put one cent of my money in your banks!" Capuano is right, we need more law enforcement & justice department personnel screaming in their face: "you should be prosecuted, and perhaps you will be."

[markus310773]

Jewish blood or not. It's simplistic and anti-Semitic. Why don't you mention the religion of the other CEOs...

[markus310773]

Don't make it look like it was a Jewish conspiracy. All races and religions where in this. Your comment is counterproductive.

[markus310773]

Michael Capuano is right. Nevertheless, many of us participated. Clinton for example told Fannie May and Freddie Mac to not look to closely at some of the loans they where buying. Politicians wanted more (subprime) segments of society to own real estate...

Many people could not stop consuming and simply used loans on the houses like a piggy-bank.

Thus yes the bankers fucked up. But it was not only them.

[GeezerButlericus]

Why is it that regular people like you & I, aren't ever given the luxury of having 5 minutes to rant & rave at the inept politicians? Why can't WE bring this clown, and others like Barney Frank & Chris Dodd , in front of a panel and rip them to shreds about THEIR involvement in this mess? Why can't we have them being humiliated by asking "which ones of you sat by and allowed FNMA & Freddie Mac to continue to grow without any checks or supervision?. Come on, raise your hands!"

[GeezerButlericus]

(continued) " How many of you put pressure on banks to relax lending standards to allow low-income people to live the American Dream? How many of you benefited personally from kickbacks & perks & pork-barrel bills in exchange for turning a blind eye to excesses that you were supposed to regulate?"

Watching this video just makes my blood boil. The sheer arrogance of this twit, coming off all holier-than-thou. Capuano has no answers, just wants to grandstand on TV for his constituents at home.

[BATCH420]

YES!!!!!! Get mad!

[hyeflossin]

this idiot looks like fraud without even talking .. this dumbass thinks he knows everything, but doesnt have the slightest idea.. stop watching bloomberg dumbass.

[hog73rt]

what a jerkoff.... at least learn what the fuck you're talking about if your going to live in a glass house and throw stones.

[Drexel2008]

Your not cleaning up shit, the taxpayers are, and half of it is government's fault- Barney Frank who's in the pocket of Fannie, Freddie, and the entire banking industry trying to play the role of forgiver

[hac5x3]

Classic - the government lets them rob and then complains about it, What a country This is all BS show boating - they're all crooks including these committee members. They're just show boating for the sheeple USA "constituents" so that he can say they did something - don't buy it. It's the crooked teller at the bank window - when there is some question about her involvement she asks the bank robber - "why did you rob the bank". and the bank robber says "who me?" JUST A SHAM.