The Spanish Inquisition: Deferred

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 Global Financial Meltdown Star Chamber, has sort-of cut a break for the hedge fund participants in his so far intensely entertaining ‘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 (AIG) 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 (MS), and no Jamie put for you.

Witnesses?

• John A. Paulson, president, Paulson & Co Inc
• George Soros, chairman, Soros Fund Management LLC
• Philip A. Falcone, senior managing director, Harbinger Capital Partners
• James Simons, president, Renaissance Technologies LLC, and 
• Kenneth C. Griffin, chief executive officer and president, Citadel Investment Group

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

Oct. 7 2008

Hearing on the Causes and Effects of the Lehman Bros Bankruptcy

Oct. 6 2008