Heh Paulson - QUIT LYING! - MarketTicker Forums

Posted 2008-02-13 14:38
by Karl Denninger

You sit on CNBS this afternoon and tell us all that you want our financial firms to "take their losses, mark them to the market, and then rebuild their capital."

Well then how about you get off your ass and do what you say?

How about if Treasury cuts off from all Treasury-related activity those primary dealers who still have off-balance-sheet vehicles?

THAT WOULD BE ALL OF THEM!

How about you do the same for anyone who claims "Level 3" assets?

THAT WOULD BE ALL OF THEM!

Why, we can't have you actually DO what you say, can we?

You're a liar Hank. A bald-faced, chrome-domed LIAR.

Not one thing you've said has been honest since this bout of turmoil in the credit market began.

When Citibank needs to pay double digit rates to obtain capital it is because they are not being straight about their exposure.

When Merrill, Morgan and others are forced to borrow at more than twice the Fed Funds Rate, while they have access to the Fed Primary Credit facility (whether it be the TAF or the Discount Window) it is because they are not being straight about their exposure.

There simply is no purpose in listening to "financial TV" any longer when there is nobody left who tells the truth - WHERE WAS THE CHALLENGE TO PAULSON FOR HIS OBVIOUS AND BLATANT LIE?

Technicals will be posted in TICKS this evening. I'm "de-coupling" from daily tickers for a while - unless, of course, there's news - like this nonsense.

Oh, and I've got to go wash my eyes out with bleach after seeing Paulson on TV.

Unfortunately I also need to stimulate the economy this afternoon - I just had a bout of projective vomiting that destroyed my LCD TV screen at the sight and sound of that crook.

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