Spanish Inquisition

The Spanish Inquisition: Deferred

Greg Newton, of Naked Shorts, commenting on the "Investigation into the Causes and Effects of the Financial Crisis on Wall Street."

Amongst our weaponry are such diverse
elements as fear, surprise, ruthless
efficiency, an almost fanatical devotion
to the Pope, and nice red uniforms…

Henry Waxman, chairman of the House Committee on Oversight and Government Reform Global Financial Meltdown Star Chamber, has sort-of cut a break for the hedge fund participants in his so far intensely entertaining ‘Investigation into the Causes and Effects of the Financial Crisis on Wall Street’  ‘Asking Former Masters of the Universe Mostly Inane and Irrelevant Questions,’ so far starring Lehman Bros’ Dick “Apart from everything and everybody else, I accept full responsibility” Fooled and AIG’s Martin “Sorry, what day of the week is it?” Sullivan. 

…the hearing on hedge funds previously scheduled for Thursday, October 16, 2008, has been rescheduled for Thursday, November 13, 2008. The Committee has postponed the hearing in order to accommodate the schedules of witnesses.

Accommodate the schedules of witnesses? Let me translate: 

Hezzathedeal. The election is still three weeks away, so think of this as the E-Z Pass Lane; you hedge fund guys have never paid your tolls and now would be a good time to start…checks are in the appropriate pigeon holes in time for us to buy some more air-time. No pressure. Griffin? Get with the program, or I swear, I’ll have Hank make you buy Morgone Stanley, and no Jamie put for you.

Witnesses?

Earlier on Henry Waxman

Links to Lehman and AIG hearings, including video archive, written testimony and preliminary transcripts.

Hearing on the Causes and Effects of the AIG Bailout

Hearing on the Causes and Effects of the Lehman Bros Bankruptcy