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Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

10 Responses to “SBC Hearing on “Modernizing Bank Supervision and Regulation, Part II””

1. Mike in Nola Says:
   March 26th, 2009 at 8:13 am

   Chris,

   Good job. You make a lot of sense.

   Do you think they will actually take your suggestions and actually do something?

2. Chris Whalen Says:
   March 26th, 2009 at 9:59 am

   Thanks. My sense is that things are in flux. A lot ot members up for re-election next year are facing a brutal environment at home. Voters hate everyone in DC. Also, the Fed/Treasury’s stock is low in political terms, while FDIC is ascendant. Everyone forgets that Sheila Bair worked for Bob Dole and is on a first name basis with most of the House and Senate leadership. Indeed, maybe half of the entire Senate.

   Don’t know what the end product looks like, but I will be in the game and reporting back.

3. usphoenix Says:
   March 26th, 2009 at 11:31 am

   Nice job Chris.

   Me thinks hearings much ado about nothing. Media time and brutal grillings during prime time, and late protection deals cut in the back room.

   It will be interesting to see the cover created in time for the elections. A toothless dragon is my guess.

4. ben22 Says:
   March 26th, 2009 at 3:20 pm

   Chris,

   This was great, and thank you since you were the only one that offered real solutions.

   I noticed the further it went, it seemed they really only wanted to hear from you, I think they were picking up on the fact that you were the only one being completely honest.

   I’d love to see you post something on the new bank plan, what you think of the idea of the dutch auction, etc. You may have already done so and I missed it.

5. sseabrook Says:
   March 26th, 2009 at 3:27 pm

   Chris,
   Though I think you like to hear yourself talk and tend to get a little melodramtic at times (neither of which bother me all that much) I think you deserve some kudos for going up to the hill and delivering some good ole’ straight talk. Particularly on the “Is the FED an independent body” question, the degree of obsfuscation and vascillation amongst your peers following your simple “no” was a entertaining and telling juxtaposition . I’ve been reading the free material on the IRA site for a while now and feel that between you and Barry (amongst some other sources) I’m getting a pretty reliable picture of what’s going on right now. Both of you, keep up the fantastic work.

6. Chris Whalen Says:
   March 26th, 2009 at 5:27 pm

   Thanks (for us both). I try to remember to stop talking and ask questions.

7. usphoenix Says:
   March 26th, 2009 at 11:49 pm

   Chris,

   I really, really appreciate commentaries from (you) an insider that (my impression) does it for the right reasons.

   Or are you an insider?

   Whatever, you do a really good job of sharing important insights with anyone that cares to dial in.

   For many, many years I saw things coming and challenged listeners to make a difference. What can we do to make a difference? Never an answer. Always a concern about their stock portfolio. Most everyone has been co-opted by the system.

   I am here and listening and contributing simply because I have not given up on making a difference.

   And if there’s anything I can do to help you, please let me know.

   Otherwise keep helping us non-insiders with your insights.

   At some point in the near future there is still the possibility that the House will be eliminated, or they will finally get it right.

   Whatever I can do to help direct that, I will.

8. Mark E Hoffer Says:
   March 27th, 2009 at 7:31 am

   Chris,

   might be helpful to note that your ‘testimony’ starts @~50:00 mark

   others have noted upon your sound insights/advice, of which, I concur..

   Past that, Ms. Gail Hillebrand has to be walking example of what Hayek laid out in “The Constitution of Liberty”, when he posited: “Employees are threat to Liberty”.

9. Greg0658 Says:
   March 27th, 2009 at 11:35 pm

   Chris at 92m:11s “let AIG fail .. go bankrupt” “impact on farmers” “impact on homeowners” “very little and beneficial .. finality short and long term” “top couple (banks) may need restructuring”

   That answer seemed vague and dismissive to property owners. Are you claiming that the system will care for them with a mechanism that already exists .. or are you suggesting the system needs the action and a few disruptions of a few property owners lives, by being thrown into “paper trail hell including the time involved” .. is umm .. “survival of the many outweight survival of the one”. My intent here is fending for owners caught in true paper shuffle troubles and not for players wanting property for nothing.

   “top couple (banks) may need restructuring” ditto my “survival .. many .. one”. Are you suggesting picking favs of these upper players? Or unwinding all the troubled big players? You get to a related QA @ 107m:15s

   breaking @ 119m: Jersey gaming ways .. will finish later

10. Chris Whalen Says:
    March 28th, 2009 at 6:58 am

    I think the “owners” of AIG are a zero. The policy holders of AIG’s insurance units may face some problems, IMHO.