The SEC Rule that Let Banks Pile on Debt

The SEC Rule that Let Banks Pile on Debt

www.cnbc.com

“We have a good deal of comfort about the capital cushions at these firms at the moment.” — Christopher Cox, chairman of the Securities and Exchange Commission, March 11, 2008.

Drained of most of its cash three days later, Bear Stearns was forced into a hastily arranged marriage with JPMorgan Chase — backed by a $29 billion taxpayer dowry.

(visit the link for the full news article)

This article traces the events leading up to the collapse of the major investment firms and banks over the last few months. Most people here are incensed about the $700 Billion Bailout to these banks, but the reality is that the entire global economy is at risk of total collapse because of the actions of these people.

If it's accurate, everyone involved should be gathered up and sent to Abu Ghraib. Really. Because God help them if they were anywhere the citizens could get their hands on them...



www.cnbc.com
(visit the link for the full news article)

The Irony is that most of this deceptive, dirty and corrupted firms knew for a long time that they were going to get their corporate ruled government the US to do their biding and that the bail out bill was going to be done deal for them.

After all the own our corrupted congress and our broken system of government.

What has occurred required the concerted and coordinated effort of scores, if not hundreds, of decision makers, collaborating towards a common goal.

This was no accident.

This was sedition and treason. A financial 'coup de etat' timed to the last hour.

Abu Grahib, or Guantanamo, would be a kindness. They are quite literally killing this country and everyone in it.

More TV anyone?

Send them all to jail This is not a monopoly game Do not pass go go to jail

More than likely, the only ones that will see the inside of any court are the poor middle management pukes who didn't suck up enough to please the upper echelons of the corporations. I would be greatly surprised if anyone that had any actual decision making power, be even investigated, unless they didn't give enough to the election pacs to satisfy our congress critters!
Zindo

Apparently European banks are also suffering. Was this type of activity being carried out in Europe as well. I wonder when Asian banks are going to start having problems as well. Could it be that banks around the world have been engaging in this type of behavior?