Free Republic

Presidents are always in need of enemies. Obama has the Tea Party movement, and Wall Street – and he is using Wall Street, namely Goldman, as a paper tiger to help build support for financial reform.While they still have total control of Washington, the Obama administration and congressional Democrats have been working feverishly to pass a financial regulatory reform bill that would give the federal government expanded powers over Wall Street. At the same time, the Securities and Exchange Commission (SEC) has launched an investigation into Goldman Sachs and one of its vice presidents for defrauding investors by misstating and...

Senators demanding answers on what caused the 2008 global economic meltdown were to grill Goldman Sachs chief Lloyd Blankfein Tuesday on the investment giant's alleged role in the collapse. The US Senate Permanent Subcommittee on Investigations was to question Blankfein and other executives including Fabrice "Fabulous Fab" Tourre, the London-based French national at the heart of US fraud charges against the firm.

With the financial markets already in a state of panic and the global recession expected to worsen in 2009, we can ill afford to allow the financial institutions, charities, and rich idiots that entrusted Bernard Madoff with their money to go bust. As for the widespread contention that since Mr. Madoff committed fraud he deserves to go to jail, do not think of Madoff as operating a ponzi scheme so much as a Strong Armed Perception Fund (SAP Fund), and don’t think of him as breaking the law so much breaking new ground in the arena of fictitious returns. In...

Museum lays off all of its employees The African American Museum in Philadelphia cited delays in large donations. Volunteers are keeping the building open. By Anthony S. Twyman and Patricia Horn Inquirer Staff Writers The African American Museum in Philadelphia has laid off its entire paid staff because of a short-term budget shortfall and is operating with volunteers, the museum's director said yesterday. Harry Harrison, the museum's president and chief executive officer, said that on Monday he laid off 15 full-time workers and four part-time employees, primarily because corporate and foundation donations expected in March are now due in June....