Good Morning Flint!
By Terry Bankert 9/24/08
http://attorneybankert.com/
*****
WE HAVE A RIGHT TO KNOW
It appears our TV screen will fill with another rash of Wall Street perp walks as the FBI launches a wave of criminal investigations on our countries financial collapse.
Our current economic mess caused by a collapsing housing market after a decade of soaring prices and relaxed if not downright fraudulent mortgage lending practices now has left banks with worthless mortgages causing their impending collapse.Was there fraud ,we will see, we have a right to know. Our economic ship does appear to be taking on water.
How did this happen we have a right to know. Now is the time to slow down gather facts make deliberate decisions. We may be bailing out the skiff to sink the schooner. Congress must ask questions and demand answers. The cure could kill the patient. That patient is the American taxpayer the schooner sinking is the economic future of our children.
As of today Wall Street has 26 open FBI investigations against it. Good for the FBI. Financial managers who lied about the condition of their company and insiders that dumped their stock before the collapse deserve prosecution, perp walks, suicides and sentences. I sorrow for their families but not for them. How far up the corporate chain of command will fraud be found.
Needed is a 1 trillion dollar bailout by the US taxpayers. How could they , insiders and financial managers, not have known, not have lied and not have ,as insiders , acted wrongfully. Will a bailout help these rich and hurt us non rich. Congress do the right thing. The rich have played Russian Roulette with our future don’t join in ,think /deliberate/hold hearings on the bailout. Then act responsibly [trb]
SOURCES
[1] http://www.nytimes.com/2008/09/24/business/24inquiry.html?ref=business
[2] http://money.cnn.com/2008/09/23/news/companies/fbi_finance/?postversion=2008092321
[3] http://www.bizjournals.com/eastbay/stories/2008/09/22/daily46.html [COMMENT NIKOS RETSOS AT 3] 94758
Wednesday, September 24, 2008
YOU HAVE A RIGHT TO KNOW
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