We don't expect the average citizen to know what SIV stands for (the answer is structured investment vehicle: one pillar of the "shadow banking system" that contributed to the financial crisis). But the bar is a bit higher for GOP Rep. Judy Biggert, who sits on the House Financial Services Committee and is the ranking member on the Oversight and Investigations Subcommittee.
As Hiram Wurf notes, when WGN Radio host John Williams asked her about the acronym this morning, she appeared not to know what it meant. Judge for yourself:
WILLIAMS: What are those SIVs he [Rep. Michael Capuano] is referring to?
BIGGERT: [Pause] I - I don't know.
WILLIAMS: Well, whatever it is, it sounds like he thinks it's illegal.
Not encouraging.
Comments
Arthur Andersen (not verified) on Thu, 02/12/2009 - 15:30
Of course she does. It's one of those big, truck-like thingies that carry people instead of cargo. You know, like a Suburban, Escalade, Navigator. We need more hybrid SIVs to reduce our dependence on foreign oil.
Come on guys, find a candidate!
markg8 on Thu, 02/12/2009 - 17:45
An SIV like that Lexus Biggert owns? LOL.
In practically the next breath after she says she doesn't know what a SIV is she says we have to restore confidence. I don't know how anyone can have confidence in a member of the Finance Committee who doesn't have a clue about the financial instruments that got us into this mess in the first place.
Sean O'Kane (not verified) on Tue, 03/03/2009 - 20:21
Judy Biggert doesn't know much about anything, which would be fine if she were a private citizen rather than a US Congressman responsible for guiding our country. Beyond the idle banter about "reaching across the aisle", "avoiding the blame game" and noticing "people are hurting", Judy never has anything of substance to offer. Listen closely to her in any interview. Unfortunately, there are far too many like her in Congress. They are essentially unknown despite being incumbents, but are well funded and they can be counted on to do the bidding of their leaders because they have so few ideas of their own. America has too many problems to have seatholders like Mrs. Biggert taking up valuable space in Congress.
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