36:26 Hank is totally right there , I will add that we don't understand finance and don't like it either , just look how many views this video has compare to some nba , football or video game , its crazy because this has much more influence on people's life , the three of them are complementary you see that Tim is the middle ground guy and Hank I would say is the tougher more man of action kind of guy and Ben is the intellectual guy
They say they had a hard time to sell it that this was for the American people. But a month later after the banks got the bailout, the CEO gave each other huge bonus. So yeah there is a disconnect when the bankers say this is for the American people.
What should we expect from CNBC's Sorkin ? Incisive journalism ? This is like Pravda interviewing Brezhnev, Kosiguin, and Suslov (plus the entire Politburo). Socialism for the Rich.
They did do it for the people. If they allowed AIG to go under, it would have been Armageddon. Of course the Rich benefited more than everyone else, but that is true for every policy, because the Rich is more invested in the "system" so when the government bail out the "system" the Rich will always get more of the pie. You heard Tim say, they should have done more direct stimulus to the American people, instead of focusing on the Banks. But if you look at the Covid situation, the government really did try to send checks and loans to Americans and Small businesses, but look at what happened, small businesses gets $40K in funding, but S&P 500 companies get hundreds of millions that it may or may not need, some returned the $$ as a PR stunt.
36:26 Hank is totally right there , I will add that we don't understand finance and don't like it either , just look how many views this video has compare to some nba , football or video game , its crazy because this has much more influence on people's life , the three of them are complementary you see that Tim is the middle ground guy and Hank I would say is the tougher more man of action kind of guy and Ben is the intellectual guy
Very few people realise what these gentlemen did hats off to all of you , between a rock and hard place is a understatement 👏👏👏👏👏
"And so now you have hedge fund managers writing in the Wall Street Journal how QE's creating inequality, as if they cared"
It’s never about data. It’s always about emotion.
And we can all thank God on our knees that these three were at the helm back then, not the current pack of wild cats.
biggest fan of all the guys sitting on these chairs.
i like the last comment, and they worked no bonuses :)
They should have some of the Management that took the fall for these crooks on the panel to give us their perspectives.
They say they had a hard time to sell it that this was for the American people. But a month later after the banks got the bailout, the CEO gave each other huge bonus. So yeah there is a disconnect when the bankers say this is for the American people.
What should we expect from CNBC's Sorkin ? Incisive journalism ?
This is like Pravda interviewing Brezhnev, Kosiguin, and Suslov (plus the entire Politburo).
Socialism for the Rich.
They did do it for the people. If they allowed AIG to go under, it would have been Armageddon. Of course the Rich benefited more than everyone else, but that is true for every policy, because the Rich is more invested in the "system" so when the government bail out the "system" the Rich will always get more of the pie. You heard Tim say, they should have done more direct stimulus to the American people, instead of focusing on the Banks. But if you look at the Covid situation, the government really did try to send checks and loans to Americans and Small businesses, but look at what happened, small businesses gets $40K in funding, but S&P 500 companies get hundreds of millions that it may or may not need, some returned the $$ as a PR stunt.
Have Tim Geithner drunk a lot before going on stage???
That is a highly inflammatory comment. Shame on you.
Bad judge from these guys! Murders