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Strategies & Market Trends : Value Investing
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To: E_K_S who wrote (33835)3/17/2009 4:33:05 PM
From: Madharry1 Recommendation  Read Replies (2) of 78751
 
its tragic that that the govt hired so many regulators to work on understanding the community reinvestment act and making sure banks complied with but were unable to protect new orleans, investor or taxpayers but we are doing a great job at protecting GS employees and retirees. I wonder if GS is the secret swiss bank of the us government and congress. Notice how intertwined all these guys seem to be. I would love to see the whole shebang investigated by a special prosecutor, from outside nyc. I still say that Madoff pales in comparison to the TARP/Paulson/Geithner/AIG/GS looming scandal. If AIG became an unregulated unsupervised hedgefund, why did the government choose to step in? If they were so concerned about systemic risk after the fact, why wasnt anyone concerned enough about the systemic risk before hand to regulate it? nobody is asking these obvious questions.

I told you guys at the time that the TARP was a license to steal and no way should it have ever been approved.

Its interesting that we hear so much about Madoff and so little about the SEC. as in what are the details of the investigation that took place after Markopolo sent them a detailed letter outlining 29 red flags. Who went and what questions did they ask of whom, who was the supervisor that signed off on the report?
To say we screwed up doesnt quite cut it IMHO.
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