Thursday, January 17, 2008

More evidence that we should not have a sitting Congress

Democratic Rep. Marcy Kaptur of Ohio launched into a lengthy question to Ben Bernanke during the Fed chairman’s House testimony about community banks, securitization of home loans and investment banks role in the crisis, ending with this point: “Given that you were the former CEO Of Goldman Sachs…”

She was quickly stopped by the laughter in the room.

“Did I get the wrong firm? Where were you?” she asked, before being corrected that she was thinking of Treasury Secretary Henry Paulson.

Said Mr. Bernanke: “I was CEO of the Princeton Economics Department.”
She also refers to Treasury Sec'y Paulson as "The Other One". I guess I'm overqualified to sit on the House Budget Committee. Taking care of my family, shareholders, neighbors, church members, ... yes, I think I do get a lot more satisfaction than a congressional committee member.

UPDATE: Eddy Elfenbein directs us to CNBC's simultaneous feed of GS stock price movement during this low point of American government

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