Timothy Geithner interview at the Charlie Rose Show on May 6 2009

Discussion in 'Wall St. News' started by SouthAmerica, May 8, 2009.

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    May 8, 2009

    SouthAmerica: The bank “Stress Test” results were supposed to be made public last Monday, but because the information does not look good then the government decided to make it public only at the end of the day on Thursday May 7 to give time for them to leak the information slowly during that period and try to put a positive spin in a major effort to make the information look good.

    When they were working on the bank stress test they realized the major US banks were insolvent for all practical purposes and then the government on behalf of Wall Street pressured the FASB to change immediately the accounting rules about mark to market accounting for them to be able to hide the real figures.

    No wonder the entire American financial system has been turned into La La Land.

    On May 6, 2009 Charlie Rose interviewed Tim Geithner on his show -

    On May 7, 2009 Charlie Rose interviewed Neel Kashkari, Former Assistant Treasury Secretary in charge of the $ 700 billion dollars Wall Street bailout.

    You can read my postings on both days at the Charlie Rose Show – the postings are under my name: Ricardo Amaral.