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Well, as you probably already know, Fox News makes me feel like losing my groceries, but I had to show this video attack on Congressman Alan Grayson. This repulsive dude, Neil Cavuto, is attempting to take on the appearance of authority to trick him into giving him an absolute number on an argument that doesn’t really call for anything but a relative example.

What Alan is dealing with here is known as The “Cavuto mark”. Following a satirical segment proposing it on The Daily Show on September 13, 2006, the word “Cavuto” is sometimes used to refer to a question mark “used to turn any statement, no matter how outrageous, into a simple, seemingly fair, question.”

Barney Frank: “This is presumably a psychological disorder”

Huffington Post

April fools day, 2009

House Republicans did their best Wednesday to battle Rep. Barney Frank (D-Mass.) on the House floor and wound up on the receiving end of some classic Frank jabs.

The bill at issue, authored by Rep. Alan Grayson (D-Fla.), would cap executive compensation at bailed-out financial institutions and it puts the GOP in a tough spot: after expressing outrage over the AIG bonuses, it’s tough to vote against the bill.

In announcing their opposition, Republicans such as Rep. John Culberson (R-Texas) took to the floor to decry the fact that the stimulus allowed the bonus payments to be made. They excoriated Democrats for not reading the full stimulus bill but said they objected to the bill on the floor that would fix the loophole that had been in the stimulus.

Frank had a field day with it.

“This is really extraordinary,” he said. “What you have just heard is a denunciation of something the Congress did a few weeks ago and a refusal to undo it. I’ve never seen people, Mr. Chairman, so attached to something they hate. This is presumably a psychological disorder which I am not equipped to diagnose. The objection of the gentleman from Texas was that when the recovery bill was passed, it was passed too quickly [and it] included a provision that shouldn’t have been in there. This bill takes it out.”

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by Geezer Power

TPM

By Elana Schor – March 16, 2009, 2:52PM

I just spoke with Rep. Alan Grayson (D-FL), a freshman on the House Financial Services Committee who’s become a fast-rising star thanks to his tenacious advocacy for transparency in bailout lending by the Federal Reserve.

Grayson joined fellow Democrats as well as Republicans in blasting AIG for its refusal to give up hundreds of millions of dollars in bonus payments. He painted the government’s choice as a stark one, using the metaphor of treating a wound versus amputating a limb.

“It’s not clear to me at all that we’re taking the correct approach by allowing AIG to continue to operate, regardless of who owns it,” Grayson told me. “At this point, ownership is becoming an amorphous concern when comes to a company that borrows millions and millions without any prospect of paying it back. … Do we continue to allow the bleeding or not?”

Converting AIG from a ward of the state in all but name to an outright arm of the government would be a politically controversial move, given the level of apprehension in Washington over calls to nationalize failing banks.

But Grayson views the dilemma facing lawmakers as a common-sense decision: AIG executives who made more than a million dollars while running the company into the ground should immediately be fired. “The people who caused the problem are not going to be able to solve it,” he said.

Article

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AIG Counter-Party List Is Heavy On Foreign Banks

Last week, we rounded up some reports from last fall that named some of the banks that AIG did business with on those credit-default swaps — and therefore offered a first pass at where the fallen insurance behemoth’s latest round of bailout money might ultimately be going.

But over the weekend, the Wall Street Journal offered some updated reporting (sub. req.) on that score. It obtained a confidential document listing banks that have been paid a total of roughly $50 billion by AIG, since it was first bailed out last fall.

Here’s the Journal‘s list:

* Goldman Sachs
* Deutsche Bank
* Merrill Lynch
* Société Générale
* Calyon
* Barclays
* Rabobank
* Danske
* HSBC
* Royal Bank of Scotland
* Banco Santander
* Morgan Stanley
* Wachovia
* Bank of America
* Lloyds Banking Group

That includes $6 billion each for Goldman Sachs and Deutsche Bank.

As you can see, there’s some overlap there with what we told you the Journal and the New York Times had previously reported.

But the new list shows how many of AIG’s counter-parties were European — a fact that’s likely to add to frustration, among members of Congress and the public, that US taxpayer dollars are ultimately being used to save foreign banks from the consequences of their disastrous decisions to do credit default swaps with AIG. It’s also likely to further fuel congressional demands that the federal government identify all of AIG’s trading partners.

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