This such a small start. And these guys will
“resign” and segue into some Think Tank (probably with 6 figure incomes for writing papers to “advise” Bambi) plus ballooning golden parachutes that guarantees their personal wealth.
What about PAULSON!!!!!! Possibly the biggest hustler in US HISTORY??? and GREENSPAN? Is Alan’s 401K slipping away?
And these are two of Bush’s chief advisors on this Titanic journey of US adminstration...
From Karl Denninger- whistle blower extraordinaire:
http://market-ticker.org/archives/680-Is-Government-To-Blame.html
“Removal of leverage limits system-wide. Fannie and Freddie, when they blew up, were running at 80:1 leverage. Goldman Sachs CEO Henry Paulson, now Treasury Secretary, personally appeared in front of the SEC and Congress to ask that leverage limits on investment banks be removed.
He was turned down in 2000 under Clinton’s SEC and came back under Bush’s in 2004 and got what he asked for.
Every one of the institutions that has failed in this debacle was running leverage in excess of the previously-mandated limits by a factor of two or more and the last, terminal phase of the housing bubble could not have happened without this change in the law. For this Henry Paulson is DIRECTLY AND PERSONALLY RESPONSIBLE.”
And look who bullied the President and Congress to give him $700 Billion in 48 hours without debate or controls, and in totla disregard of public demand, and look who he’s given it to - and refusal by all to answer questions about how they used it
...the very banks ruined by PAULSON’s lobbying while at Goldman Sachs- for deregulation on leverage!!!!
and look who Paulson brought into Treasury to help run TARP. Another Goldman Sachs executive.
WHERE IS THE CONGRESSIONAL OVERSIGHT!!!!!!!!
as for Greenspan:
http://market-ticker.org/archives/680-Is-Government-To-Blame.html
” Deregulation of derivatives. Greenspan’s Fed (along with the CFTC, also under government control) permitted the writing of unregulated derivatives over-the-counter with absolutely no capital or margin supervision. Essentially-unlimited leverage was thus permitted, and AIG’s explosion (along with Lehman and Bear) was the result. Congress allowed this outrage, praising it as “financial innovation”, when in fact it was nothing other than bank robbery (literally) by deceit”
WHERE ARE THE CONGRESSIONAL HEARINGS?
The Government is not made up of the various puppets in red or blue costumes we elect to office. Congress will hold whatever hearings it is told to hold, and none other.