I watched the first (have been limited for time having just come back from a mountain trek). Seems to me that Geithner did answer the question in a fashion. The specifics of bailout for current derivatives seem like a "gotcha" question. However, I wouldn't expect them to be able to change much without a new legal structure for derivative issues. Those rules depend more on Congress than the Fed. So I think I agree with Geithner that the question was disingenuous. That's the first thought anyway, without further reflection.