The Sherminator Kicks Wall Street Butt
By Susie Madrak Saturday Mar 21, 2009 9:30amVia the Daily Bail, this fantastic showdown between Rep. Brad Sherman, Mark Haynes and Erin Burnett over the taxes on AIG bonus payments. Daily Jail enthuses:
Guess who wins this contest of wit and intelligence. If you thought brunette bimbette, then you are you asked to leave the site.
I have been trying to restrain myself in descriptions, but this video is terrific. You will enjoy it.
Some of the Sherminator's great lines: "I want all bailouts to stop. I want capitalism. Bailouts are not capitalism. TARP is not capitalism. We should have AIG in receivership. It should have been in receivership for months now. We don't have to hunt the witches, we know who they are. What do AIG executives know about running a financial services company? They only know how to destroy one. We need some limitations on salary and bonus. The goal is to get them off the TARP system entirely. Give back the money and run your companies. This is about people who think they are really important but work at bailed out companies. I'm against bailing out Wall Street, period. If they want capitalism, let them have capitalism and give the money back."
Watch it.
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[If you have some kind of script blocker, you need to allow CNBC if you want to see it-Sitemonitor]
Allow sites temporarily, unblock the objects manually, open it in an IE tab, and in this case go to CNBC's site to get the video.
It's ok, it's the price I pay for my lower than average virus infection rate. But they way this video is embedded made me have to undo every protection feature.
I didn't realize some computers had difficulties with CNBC videos.
So i found a youtube version of the Sherman video and put it up as well.
Here's the link.
http://dailybail.com/home/cnbc-congressional-...
It's the same link as the one given above.
And I have added 2 previous outstanding Sherminator videos to the end of the story.
Here are the direct links for these 2 (both are from youtube):
http://dailybail.com/home/2009/2/12/bank-bail...
http://dailybail.com/home/the-bernanke-bailou...
Thanks and I hope this helps,
Steve
Will check out your site.
The link to the Daily Bail works, and you can see the clip there.
It's good to see a Democrat FINALLY stating the obvious.
The pink-tied-harrumpher and brunette bimbette merely defend the Welfare Kings of Wall Street with the same old BS.
If the Democrats were to simply speak the truth rather than worry what the Repugnants and their ProfitMedia whores might say....
[If you have some kind of script blocker, you need to allow CNBC if you want to see it-Sitemonitor]
Couldn't run it in FF even with allowing the scripts (no big surprise, really--I'm used to that...), but couldn't run it in IE either, where nothing is blocked.
Just sayin'....
even after allowing all scripts, vids, or parts (especially sound) often refuse to play. I've gotten used to the inconvenience, really...
and I agree with Sherman (wasn't he the guy who said he and other reps were threatened with the spectre of martial law if they didn't vote for the TARP?). If the fat-ass, filthy-rich, fascists on Wall Street
want to get millions/billions in compensation, let them earn it by doing Capitalism correctly (absent the gambling and criminal fraud)- not by depending on taxpayers to support their habits.
Secondly, I think I should apply for a job at CNBC - 'cause seriously, I could do better commentary or questioning than these fools!!!! They call this financial news?
What a freakin' joke!
want privatised profit and socialised loss. They were willing to grab up as much as they can with their grabbing hands, and now they want to maintain the same lifestyle when they are the fucking losingest losers (except for all the 'little people' they've destroyed) on the planet.
Message from me: Greedyguts, you aren't the whales anymore. No more free hookers and booze on the house. You gotta pay your own fuckin way.
They feel ENTITLED to it, while they piss all over the rest of us, and call it 'trickle down'
I want to see them all wearing barrels.
And, Erin should go back to posing half-naked for magazine covers..
http://www.youtube.com/watch?v=HaG9d_4zij8
I was pretty sure it was he. Wish we had more Reps like him...
We should just give Congress an all-expenses paid vacation for about 6 months so they would stop passing all of these dreadful laws.
And, then we should require everyone the read "The Shock Doctrine" for an understanding of how these fascists create crises so they have an excuse to seize more power and steal more of our money.
Ask a question ..
Interrupt the moment the guest begins to speak ..
Talk even louder when he tries to complete his first sentence anyway ..
Frame the discussion as "so you think these are BAD people .. is that why you are taxing them at 90%?"
What a freakin joke!!
And remain clueless as to what "receivership" means .. it MEANS that creditors get repaid to the extent that is possible .. etc etc etc
I got the same impression, "systemic problems" is another way of saying "I have no f*cking clue what Receivership means."
Love when business types throw terms around in order to sound intelligent, even though some times the terms are either used in the incorrect context or they contradict the assertions the speaker is trying to make.
I once asked a business type who was using the term "paradigm" in every other of his sentences, to actually explain to me what was the definition of the term "paradigm".... and to my surprise, he wasn't able to explain what a word he was using left and right, and which he made the centerpiece of his argument, meant...
Erin: Congressman, why do you hate puppies?
get em Stewart. This is a network of liars, fluffing the flaccid dicks of Wall Street.
Mark Haynes and Erin Burnett: "We were against the bailout before we were for it"
These idiots... Arggggh!
MSNBC is stupid AGAIN, yeah you limit their salaries when their salaries are literally tax payer dollars!!
F*** Them! OK Give back all the money, let these loser incompetent companies fail, and now the exec's will have nothing to bitch about, they can take 100% of what they deserve.
But I was saying let them fail now for quite some time.
Otherwise, I concur.
right you are.
This is exactly what you should expect from your government. We bail out private companies unconstitutionally, then realize that we didn't even do a thorough job of it. So what is the fix? Well, let's go against the constitution again, and tax a specific group of people retroactively after they were already paid out? This country is TRULY fucked! I do NOT believe these AIG scumbags deserve a penny bonus, but don't you people see that we are perpetuating this kind of behavior with the bailouts in the first place!!! Why should they change their ways if they know they have the "Too big to fail" tag on them? They can do whatever the fuck they want, because we don't have the balls to let them go under.
Exactly what's needed- a dem who speaks clearly and effectively. Too bad we won't see him on other shows ... he's proven too effective in countering the outrage of the defenders of the economic elite.
He makes sense. Even though I am a Democrat and an Obama supporter, the Dems have blown it on this issue. I don't know Rep. Sherman, but he sounds moderate, and that may be what we need to address this situation, rather that the lynch mob mentality we saw this week.
Wow. Finally another statesman that has the people's interest first and not the banks.
Even though the majority of the country is opposed to bailouts, this douche voted for them all the while he is opposed to them himself! So who exactly was he voting for? It wasn't himself and it wasn't his constituents. He was voting for his party!!! Statesman my ass!
http://clerk.house.gov/evs/2008/roll681.xml
I'm going to miss the blogosphere if not blogging itself. I'm just taking a last, sad tour of my favorite places in the blogosphere. My domestic life has disintegrated and I'm getting kicked out of only home for the last 15+ years. Where I'll likely be going won't have internet access and not too many places in town will offer it for free.
Not that I'll miss blogging itself. I haven't written anything political in over a week and I don't even follow the news, anymore. But I'll miss the b'sphere and the people in it if not the thankless task of blogging. I also wanted to give Mike a shoutout for all the times he jacked up my hit count by linking to me.
So long and thanks for all the fish.
Sorry to hear that. Hopefully you find someplace safe and stable soon!
you'll be missed. I miss you when I don't see you for awhile. I am sorry to hear of your trouble.
I hope you can get something straightened out so you can be on the internet regularly...we'll keep a light on for you buddy...
:D
Come back when you can, jurassicpork.
Don't Panic.
I hope it works out for you, don't give up…Come back soon!!!
http://explodingdog.com/drawing/cheerup.gif
and I hope you can come back soon.
Jurassicpork. Take care of yourself. Your input will be sadly missed.
Erin Burnett has become the Tucker Calson of CNBC. She's young, fresh, and bouncy - the sexual fantasy of old double chin executives - and continues to prove that she didn't take any business math in college. I never really paid Burnett any mind, but lately she's really gotten on my nerves - sort of like Tucker Calson in his bow tie days.
Yet, Sherminator rocks the house. The congressman used to be a CPA before he was a law maker. Shermin's obviously been reading Krugman, Roubini, and Baseline Scenario. He probably has a direct line to Bernie Sanders.
CNBC - Channelling Nothing But Corporations
Really- that fat man's question of, "what does Main Street know about running a financial system?" ought to be played on a loop.
The parasites think they're the host. It's insane. They're like termites complaining that the tree is in their way.
They have a bloated, inflated sense of their own importance, and apparently disdain for everyone outside their little bubble.
Sherman was very articulate and assertive. He had the bobbleheads spinning like tops. They are defending the bailouts, then they say they were against the bailouts. They tried to put words in his mouth about salary caps and he spit them in their faces. Haynes even started one of his questions with "I'm no expert, but..."
Then WTF are you doing interpreting this shit for millions of people?
I think we just found Geitner's replacement.
the AIG casino line and the fact that people were betting against the mortgage market.They buy insurance hope/allow the company will/to fail,then cash in.Invest now in America's failure.
That's Jim Cramer's credo.
is such a pussy it's embarrassing.
When you need a preppy prissy hand job like Tucker Carlson to stand up for you,it's time to start lifting weights or something.
...Cramer-style manipulation.
Short selling isn't necessarily a bad thing- sometimes companies are overvalued, and wildly so. But if you've seen that video of Cramer explaining his methods of gaming the market by firing up the rumor mill (Stewart went to that vid in his excoriation of Cramer) for short term gain is reprehensible- REPREHENSIBLE, I SEZ!
But the difference between short selling and the mortgage-based CDS's is that at least a short seller is purchasing ownership of stock, if only for the short term. Those CDS's are nothing but a side bet on business with which the gamblers have no direct interest.
To not take bets that would break them if they were forced to pay out.
I never heard of Brad Sherman before. This guy is great. He will never be invited on that show again, they were practically squirming in their seats trying to deal with him. I love how they say "bad actors" all the time, it is code for "don't change the system" and leave everything alone. What a bunch of horse manure. The system is totally screwed up that is how this happened in the first place.
But I will pay attention now. Oh and the bad actors thing sounds like RePUG or Wall St. talking points.
Congressman Sherman should spend some time on Keith Olberman or Rachel Maddox.
Mortgage-backed securities and the mark to market evaluation of bank assets would not be a problem if Conress, namely Barney Frank, Maxine Waters, Chris Dodd, and Andrew Cuomo, all dems hadn't made it possible.
They pushed the lend-to-deadbeats policies onto Fannie Mae and Freddie Mac which were run by corrupt dem cronies who got big bonuses. The SEC did not seem to do anything and Bush apparently did not know any better.
Watch out Evet. I think your Shawn Hannity side is showing.
Some of the concern trolls have a fantastic run in this site... but sometimes, they just can't help themselves. And the charade starts to wear out...
Sorry but everything Evet just said is 100% true.
so can you explain in detail what "Mortgage-backed securities and the mark to market evaluation of bank assets would not be a problem" actually mean?
For what it is worth, I don't think the original poster has even the slightest clue that mark-to-market is not a new accounting device by a long stretch.
Also, the original poster ignores the fact that Herbert Allison, Fannie Mae's current CEO was McCain's campaign CFO. Or that the previous CEO, Mr. Daniel Mudd, has donated 4 times more money to GOP candidates, and he was a registered republican in the 04 election. Calling them "Dem Cronies" is intellectually dishonest at best.
True only in the Bizzarro world.
I've seen the videos and emails proving it was all Barney Frank's fault. I even saw and heard Britt Hume say so himself (I saw Hume on that Fox video that Soros and other Libruls conspired to have censored cause they didn't want the truth out - but we got the truth anyway, didn't we?)
Evet and wheghey, read a newspaper.
Just a word about the far right emails: You have to have the mind of a 5 year old to believe that stuff.
You don't know what you're talking about. Please-- at least research the facts a bit before you comment. And no, inhaling Newsmax/Fox News/Rush Limbaugh does not count as research.
And I quote:"Fannie and Freddie were specifically prohibited from the kind of subprime lending that was at the heart of the meltdown. In fact, Fannie and Freddie could only buy mortgages issued to borrowers who made substantial down payments and carefully documented their incomes, which is the exact opposite of a subprime loan."
Go peddle your wares elsewhere please.
what "receivership" meant.
It is funny to see these fat cats, so disconnected from reality. They find it a sacrosanct entitlement to be making wadloads of money, regardless of their performance, competence, hard work, or talent.
This is becoming a class issue. We're in a new feudal society, in which the business overlords have a certain level of expectations, just for being part of the business class.
I am not willing to live in a society that follows the same social stratification than an airline sitting chart.
You know what is the most obscene aspect of all this. The fact that Mr. Hains et al think that the main problem our society faces is not the well being of 90+% of our fellow human beings, but rather wether or not the top 5% will be able to continue making the same obscene amounts of money. Talk about misplaced priorities, at some point these pieces of shift left their humanity far... far... behind them...
"THANK YOU CAPTAIN COMMON SENSE!"
Just a heads up that I added a youtube version of the Sherminator clip for those who have trouble watching CNBC embedded clips.
Also, here are all the financial comedy videos in 1 easy link. Approximately 35 clips.
http://sqworl.com/?i=e4bdeb
Thanks Susan for linking to us and I hope everyone has a fantastic weekend.
Steve
They've shouted, "we're not going to take this crap anymore!" They have began to protest! And the sheer numbers are mind-numbing!!
Activists protest bonuses at AIG executives' homes
http://news.yahoo.com/s/ap/20090321/ap_on_re_...
40? 40? Hahahaha...oh the rage! 300 million plus people and 40 protest. Sad. Pathetic.
Mr Point-and-Laugh?
I like you, but this is bullshit, man.
I am baffled and not impressed. Why are there not more? I am not meaning to joke about it, but the reality is, 40 protesters is a joke! A sad joke. Where is the outrage? Why are people not screaming on national television? In Europe, they are almost rioting. Governments have been forced to resign. In the US? A mutter and a paragraph. This is too sad.
Yo Canuck, I understand your concern, but you have to look at the harsh reality. No one will be outraged here to the point of mass protest until this effects everyone directly...as in, they can't get anything at the store because there is no food on the shelves, or there is NO gasoline to be gotten at the pump, etc. etc... People are uncomfortable, but don't really see what is going on.
Have you seen our press? Turn on the local news, and you may as well be watching a slasher movie, because death, killings, accidents, is what a good 40% of what they lead with. Any politics is narrowly framed so as to keep us looking at trivial events as opposed to the big picture. Comparing BBC or CBC news is like night and day. No one here even knows how people are rioting across the globe over this. Its scary...
Help us out! Write here and tell us what you know. Spread the word. Most of our press here is a huge part of the problem.
I'm sure you know how hard it is to get 40 people to take time out of their day, working or shopping at Wal-Mart or watching sports, to show up to protest anything. I can think of very few issues in recent years that have resulted in even a 40 person protest. Also, what's your point? Are you trying to say that people aren't mad at the AIG executives? Really, there's been enough news coverage, interviews with people on the streets, etc. to demonstrate that of course people are angry at the executives.
This is how you deal with the Wingnut Media. You repeat over and over and over again the facts, the truth and intelligent common sense!
90% of the media is Conservative and conservatives refuse to accept the truth, they are sick. All the while 60% (and growing) of Americans are Liberal who have a more healthy sense of reality.
His logic is irrefutable. Either you're a private entity taking no bailout and paying your executives whatever you want, or you take the bailout, become a public entity, and then you don't get to keep paying your executives whatever you want, we get to tell you how much. You can't choose just the good stuff from each column and not the bad stuff.
I love that CNBC raised the Wall St. talking points one by one, predictably, and Sherman knocked them down like bowling pins. The talking points are by now hilarious.
I agree with your first argument %100, that is why the language should have been in the bill to begin with. This Sherman guy is part of the problem, but since he is a Dem. he gets no blame? Maybe the party in power should have read the bill before they passed it! Maybe Obama should have posted it online for EVERYONE to read for 5 days before voting like he promised on the campaign trail!
How exactly do you lend someone money, and then tell them how to spend it after the fact? Don't you realize that this kind of tax is completely unconstitutional, or do we just not care about that much any more. The Dems have successfully deflected the blame here from themselves to AIG. The treasury secretary himself did not want to restrict bonuses! Have you asked yourself why? Do you really believe he is here to help the American people or his banker/Wall St. buddies?
I have to ask because I discovered yesterday that the Republican party or the RNC or a related entity pays people approximately $.10 per response to write comments on left-leaning blogs and to call in on left-leaning radio talk shows, to parrot the Republican talking points. You're perfectly entitled to do that, but if your are doing it, you should disclose that fact.
If you listen to Sherman's comments, they were about something much bigger than the before the fact/after the fact question on the latest AIG bonuses. I understand why we all focus on the bonuses -- they're very easy to understand, compared to, say, derivative swaps. But those AIG bonuses aren't the problem by themselves. They're merely a symptom of a larger problem. The problem is that Wall Street and big business has gotten too powerful. Congressmen, Senators, government officials and even presidents on both sides of the aisle (but more so on the GOP side, where it's their ideology), many of whom have taken a lot of contributions from and get heavily lobbied by these businesses, are to blame. It's obvious by now that the fatcats at large banks, Wall Street firms and giant companies like AIG that insure them are acting purely in their own self-interest, not the public interest. That's perfectly fine, but it means that we need Congress, regulatory agencies, and people doing actual enforcement, who ideologically believe in such enforcement, to make sure that our interests are being looked after. I think that's part of what Sherman was getting at.
One Congresssman called AIG: Arrogant, Incompetent and Greed
I called it: Assholes In Government
LA should be proud to have sherman representing them on the Hill. he is a first rate ass-kicker on this and alot of other issues.
he hands the CNBC flacks their asses on every point. as it should be.
sherman should have asked them if they make more than the guy who runs NBC? he should have asked them what would happen if they demanded more money than their division president? the answer is they would be out on their ass. the same should happen for the banks who take the TARP money.
Bimbo Burnett has got to go! She insults my intelligence everytime she opens her plumped lips.
Empty-suit Mitt Romney (on Larry King) dumbed it down for us. He said, it is unconstitutional and discriminatory for the governement to tax these bonuses... BECAUSE it would be like if Larry King said something the gov't (Obama) didn't like, he could step in and seize his assets. Uh-huh, really Mitt?!?
Of course there was no mention of paying bonuses with your money to failed employees. He had it, the militia arrives at your door and empties your kid's piggy bank because you don't adore and praise Obama.
It was about then I wanted to throw something.
After the Daily Show shakedown, and Zucker's attack of Stewart, to hear this bimbo TRY to steer and frame only the issue of "taxing them" makes it SO obvious to me that CNBC won't ever change... I learned a lot of condensed information in a short period of time listening to Sherman, and the "journalist" looked absolutely lost. She could barely slur past that chip they put in her brain which commands her to scream theft of the wallstreeters.
These and other scandals will continue to unfold everyday, and who knows? Maybe one day we'll find out who is actually running things in this here free country.... What a ride.
Wall Street's concern only for themselves, and their greed is tearing America apart. When corporations layoff employees, or send jobs overseas Wall Street celebrates, and says how happy they are with the corporation. Declining wages, higher unemployment, anything and everything that harms the working class causes Wall Street joy. Foreclosures, homelessness, poverty, and unemployment are all rising. Still Wall Street cares not at all. Their viewpoint is as long as they are growing richer then that is all that matters, greed. They care not for their American brothers, and sisters. They complain at the mention of limits on corporate executive annual income, and yet they encourage corporations to limit the annual income of the working class. Fuck Wall Street, and all the greedy vampires who worship it.
It's too bad this guy , Rep Sherman isn't the decider and chief , I agree with him 100 % . All Obama and the crooks in DC have done is play footsie with the same criminal ass holes that destroyed the economy and many lives in the first place and reward the bastards with billions and billions in "bail their sorry asses out money" . It's like the bank robber gets caught , the bank is short money so you give the robber money to cover the banks loss and straighten things out . It's the same old shit folks , we the people are being boinked once again , I am with Krugman , we are in deep shit , the whores in DC won't let their Wall street criminal pals down not even at our peril .
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