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Detailed text transcripts for TV channel - MSNBC - 20100201:21:56:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20100201:21:56:00

Generated avatars. >> sounds like a heck of a platform you're running on. the one thing i have noticed is corporations are much better at making money when they just exploit their ability to control the government as opposed to having to compete with other individuals to deliver a quality product. are you doing this because you find it easier to rig the game using the government than to actually produce something of quality or value for another human being? >> well, we to believe in privatizing gain in socializing risk, we do believe in keeping all the money and have the government bail us out...

Detailed text transcripts for TV channel - MSNBC - 20100201:21:34:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20100201:21:34:00

Relationship with aig when he testified recently and get your sense as to whether he's in fact being transparent with us. take a listen to the treasury secretary. >> if you join with the president in adopting his sibility fee, american taxpayers will not have to pay one cent for the actions we took on aig or the actions we took with the authority congress gave the administration to stabilize this financial crisis. we expected this particular transaction, the one, the very one that is the heart of so much controversy, will be paid off in full with interest generating some profit for the america...

Detailed text transcripts for TV channel - MSNBC - 20100201:21:39:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20100201:21:39:00

Third, we should be taking a good look at goldman and aig, and the other treasury programs, where we began -- where i suggested we begin is the aig corporate e-mails itself. from there, it would radiate out to all the companies. but goldman has been at the heart of this. the numbers that i think are staggering, we gave goldman $4.9 billion in that transaction in the aig deal that has so rightly been heavily criticized. the entirety of their profit, that one transfer from taxpayers, which neil barofsky and so many others have criticized as completely unwarranted, somebody should dig into that. ...

Detailed text transcripts for TV channel - MSNBC - 20100201:21:32:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20100201:21:32:00

Related to the new york federal reserve that were provided to congress. why the discrepancy and where do you stand relative to the fed aig and goldman? >> that's absolutely correct. and the question of why the one we're going to find out the answer. because we did request certain documents from the federal reserve, and the federal reserve bank of new york. we didn't receive them. and then after documents started getting released, we found out there was a whole bunch of documents in there that we had never received. we were under the impression simply it did not exist. so we have launched an in...

Detailed text transcripts for TV channel - MSNBC - 20100201:21:37:00 - Vimarsana News

Detailed text transcripts for TV channel - MSNBC - 20100201:21:37:00

It's left us with an explicit guarantee that no matter whaps, that these companies are now incentivized knowing that the taxpayer is going to back them up. that is an enormous problem. the fact that the t.a.r.p. got extended and while with don't criticize that as a policy decision, that sends a message to wall street that the secretary's going to keep several hundred billion dollar war chest available for any future bailouts, at least through october of this year. >> if you fundamentally believe allowing a few people to gamble to get rich, isn't this the best way to go? >> it's a dangerous sys...