Senate hearing is going on live on C-SPAN 3, with Geithner.

[Hieronymus]

[Thrill]

1. The markets are full of shit. Geithner seems very sincere in not

wanting to waste the taxpayers money. And these markets react like this because he doesn't cater a program to them. I would rather he wait and figure it out, like he appears to be doing

[Andy823]

2. I agree.

The big shots want more of what they got from Bush, money with NO STRINGS attached! The don't want limits on their salary, and think they can manipulate things so that the restrictions will be removed. The idiots just can't understand that things are going to change, and they are not the ones making the rules any longer! If they don't like it, don't take the money!

[freemarketer6]

3. The markets are never FOS. The markets are almost always

right, because they have to be because they are composed of everyone: business execs, professional investors, medium income families and others--everyone. The market went down today because Geithner not only didn't say anything, but what he did say is exactly what was said by Paulson and Crew: no control over banks disposition of funds. If the market breaks below the November lows, it will make no difference what Obama does because the progression of the deflationary downswing will start going too fast to stop it, just like 1930-1931. I really like Obama. I campaigned for him and sent him all the money that I was allowed to.... I DO NOT like his picks for certain cabinet positions...it's like no vetting was done. Today was a a level one disaster.

[Spazito]

4. Your user name says it all to me n/t

[Zynx]

5. L.....O......L! That is the single biggest load of crap ever.

So, NASDAQ 5000 was an accurate reflection of the market's value? Were $500,000 house prices in California a proper reflection of the value of those houses? Were those mortgage backed securities properly priced?

Hmmmm....

[freemarketer6]

7. The market is a mechanism designed to move by the action

of its participants. How could it be wrong? The market goes up and down based on a collective thought process. I'm not certain the market wouldn't have gone down no matter who gave the bank plan. However, the market has made the following assessment: the government does not know how to fix the banking mess; hence, nothing informative can be released on the plan because there is no plan.

[Zynx]

9. I am not a philosopher. I am an empiricist. The market fails to value things

properly routinely. I don't believe collective insanity is a proper valuation of assets.

The market did not see the crisis coming until it was hit square in the face. Why should it be any better at predicting recovery?

You have far too much faith in the efficient market thesis. That is the biggest load of nonsense that has ever been perpetrated.

[freemarketer6]

10. Maybe. But I see no viable alternative. If informed A tells me

GE is going up next week, but informed ABC (the market makers) tells me otherwise, I'll take the group's advice. They may be wrong too, on an instance, but never on average.

[Better Believe It]

14. What do you think of Nouriel Robini's proposal to nationalize the banks?

I'm hardly a "free marketer". Free, unregulated markets is what got us into this mess with Credit Default Swaps, derivatives, etc.,

We need a bold plan to re-regulate financial institutions, give badly needed and immediate relief to millions that are or will soon be threatened with forclosure and nationalization of major banks even if bank shareholders loss their money. A small price to pay that may be required to prevent an all-out deflationary depression.

Timid, vague and half-way measures proposed today won't get the job done.

The markets simply reflected that feeling today among both big and small investors.

[Zynx]

6. What the banks want is $1 trillion in cash that doesn't have to be paid back.

They are ass holes.

[avaistheone1]

8. Where can I sign up for free money for the rest of my life too?

The banksters and Greithner are assholes. I think I have heard enough to know that much at this point.

[freemarketer6]

13. They are in cahoots, I believe. After Greenspan, Geithner

was number two pusher of sub-prime loans. If Daschle's tax problem had been uncovered prior to learning of Geithner's tax problem, Geithner never would have been confirmed. It will take roughly 3 trillion to make the banks whole again. And that's what will be demanded as times get harder. This will result in hyperinflation down the road, but there may be real window of prosperity in the medium future. IMO.

[Dappleganger]

12. He may seem sincere but I still don't trust him.

Time will tell if he was a good choice or not.

[Impedimentus]

11. Geithner is a Republican corporatist schill.

Geithner is Obama's one big mistake. I hope Obama realizes what this tax dodging bankster really is and replaces him before he does too much damage.