Continued Lying Requires TALF Extension

The Market Ticker ^ | 08/17/2009 | Karl Denninger

[Zeddicus]

In the news today The Federal Reserve announced that due to the continued lying by banks about asset valuations, a practice that has resulted in ABS and CMBS markets remaining locked up, they are continuing to sponsor and support accounting and control fraud, acts that should be treated as felonies and result in prison sentences:

Nonetheless, the markets for asset-backed securities (ABS) backed by consumer and business loans and for commercial mortgage-backed securities (CMBS) are still impaired and seem likely to remain so for some time. To promote the flow of credit to businesses and households and to facilitate the financing of commercial properties, the Federal Reserve and Treasury approved extending TALF loans against newly issued ABS and legacy CMBS through March 31, 2010.

The markets remain impaired due to the continued lying and will remain so until the lying and control fraud stops.

That Congress and The Obama Administration continue permit this lying is an outrage worthy of impeachment, not continued monetary support.

[Hodar]

If lying constitutes fraud, and this fraud is at a level of a felony - why can’t this be tried under the RICO statutes, and put everyone involved away for a couple decades? I mean, if it’s good enough for gangsters, it’s good enough for Sr. Executives and politicians too. One is a criminal bottom-feeder of society and the other is just not elected.

[Zeddicus]

If lying constitutes fraud, and this fraud is at a level of a felony - why can’t this be tried under the RICO statutes

Because the entire government, all branches of it, is a singular corrupt, malevolent entity. It's not going to prosecute itself.

[onedoug]

And the lying O?

[FromLori]

Thanks for posting wow spot on again “Impeach”

you might like this as well

http://www.economicpolicyjournal.com/

http://market-ticker.denninger.net/archives/1340-Look!-Gravity-DOES-Exist!.html

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