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ten geiger that says look i i i mean represented people you know and uh... in
my mind i'm always thinking about the people first and not the back
uh... you said this on many occasions
in different work
uh... well
uh... we have a new report out from bloomberg news
uh... that seems to some damage to that idea
apparently when he was at the new york for that
right at the head of the new york right
uh... ten gartner
cold they r g
i'm going to take over
direct you
payments
to the
top banks in the world
and we're going to pay them off hundred sense on the dollar
on these nonsense bets that you made
that no other right thinking person
would pay under cents on the dollar for a fact
uh... they're worth
very little
uh... to you know depending on what the market value do then they didn't value
that very much about point
is that the the market value we're gonna take complete
amount of money for hunters that's on that now we knew that before
and that's part of the reason that i can state then geiger
i think that he
absolutely butchered his job of the new york fad
and has done
so the treasury as well
or money taxpayer money
and followed over to the top banks in the world
through aaye thi
now what we find out from bloomberg today
well it turns out he knew what he was doing
not so pretty not
necessarily the right thing to do so he told edgy executives
do not disclose this information
in fact there were no public disclosure of where the money wet which makes sense
and
the fed came in and qua stop the lines
on the money being funneled for the backs
exceptions
you know anybody know indicted in the tremendous favor
for goldman sachs
and some other banks
including banks they're not base in the united states of america
an outlook here that they are g guys and i can't believe that you guys are the
ones that were trying to the right thing
they say
to lift the new york fred
given the significance of the transaction energy would be best served
by filing a moral
the better practice and better disclosure this complex area at the stop
by a big remiss currently rabindra delay
and that it has been in and take it easy man katie's away you know what everybody
now that i'm secretly following all this money over that war
no no no no we don't file now
so how much of the decision
cost us
to pay honor sense on the dollar on these bets that edgy made loss to
goldman sachs and other companies
it we'll explain this scam before but let me go do a quick summer for you so
you get a sense of
but what are read unbelievable scam missus goldman sachs
put together
certain assets
they know those assets
art parable
how do they how do we know that they know that they're terrible
because as soon as they sell that's that's the goal to get back with a edgy
and say i've got those socks i'd that they go under
events but not always therein
when you put them together or its group of but anyway
uh... i'm not exaggerate forget to bring it down to support our
for those literally what happened eight make bets on these things
in why it was edgy so stupid that they made a bet with
goldman sachs and other banks even though they're the ones the banks of the
ones that put together these assets so they know how bad they are
sedating hair they cared about the commission they cared about that
percentage they would they were getting
is that what into their bonuses they took those bonuses the guy that worked
in london office of a_h_a_
believe me then
the ballpark of six hundred million dollars
so he doesn't it
and of those
that's it worked out
so then the bats don't work out because goldman sachs and other banks have
already rendered so they won't so they come managing the payment payment right
the but ed you made all these bats they couldn't pay back so that gut donder
going under right
so now those dives are nearly worthless
because we gonna get paid by a_g_ gonna get bankrupt
that you try to go on collect that money from somewhere else you're gonna get
pennies on the dollar
but instead of having to deal with that on the market
your friend
him right now
at the new york fed steps n and says no
i'm going to handle these negotiations for edgy
negotiations
and a bag was one hundred sense
uh... on the dollar
anti-woman go she ate
so they get
a hundred sense on the dollar
how much would that cost
the difference between the market value the white guy campaign
at least
thirteen billion dollars
at least thirteen billion dollars from aust taxpayer money
that with the top banks
who made those toxic assets in the first place
anne profited a hundred percent off them
except with a plan
because their friend tim geithner help them to do that
now i think the man
and then knowing what's happened here got your then covers it up and his
trucks edgy specifically
do not reveal this information
that information came out later of course was eventually bound to come out
given enough time the crime is already committed what a good to get the money
back from goldman sachs and all those other companies not and i got to get it
back
and actually care about them all
again all of this
why why is this guy still higher why is this that's guys so the treasury
secretary
and all but one discusses had to you why do people think that are not for them
final got it
because you're treasury secretary is part and parcel of following armani for
the top bankers
in the world
who are now back to making record bonuses
when the rest of us are getting killed out here
if you are so
disconnected
from the american people that you can't understand
well then you deserve the political trouble that you're it
now some
democrats and progresses and liberals drive me crazy
but here he obviously do the right for a company
and i don't care what his purposes are i don't care all the word in which the
president
who cares
he got something that is true
and whatever public actually a tax or something that has merit
i'll tell you get a rotten birthday it's unbelievable it's only
but some democrats levels they know that we can support that that was my republic
i don't give it to him and i don't care feels about
walked in with the information is the information accurate or is it not
accurate
okay is accurate he's right tigers gotta go
tigers producto come on
and so
if obama cries a scrap it out fears about all the way one of the people
understand out for them
because
i hate to break it to you
you're not for them
because the guys that you hired to run your economic team have no interest in
the american people
their main interest is protecting the banks
now i don't wanna be unfair i don't want look
diners are some people died
move up on what local banks unquote american dream for all right
now in his mind he thinks
well look if i helped the banks i helped the guy
because the banks are such an important part of the economy
and that that trickles down to the people of actually deming to keep track
of weather gets the people
let me thing is keep the banks it
but that's the wall priorities
because he's been living in that world almost his entire career
so in all this top advisers are from the top banks they it we have is the record
of this calls all he does is call the top beggars you would like you jimmy dot
show kids
so if you send the wrong bobble
whether he's well-intended they're not and i don't suspect it is evil intent is
there anything
he's making the wrong decisions because he's got the wrong priorities
the priority attend either in his mind is
protect the banks at all costs
these particular executives
and those are the priorities they're destroying uh... our country our economy
et cetera i wanna get overly you know dramatic on it
it but we saw what happened at cana
those of the guys
who literally i mean if you lose the guide during listened somebody was
nobody who see that
also you as an all those guys they say we were going to be a global economy was
going to collapse
and those are the guys who created
those are the guys a guy just protecting and helping and falling more of our
money
now can't have it
you know farm over this
level on the twenty eight oh things we pointed out on this alert on this show
you're telling us that you care more about the bankers and us
very very bad side