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Strategies & Market Trends : The coming US dollar crisis -- Ignore unavailable to you. Want to Upgrade?

To: Amelia Carhartt who wrote (17598)	2/12/2009 11:27:01 AM
From: Real Man	Respond to of 71456

We'll see. If they keep moving, these markets will sure crash, as they get to the criminal core of it all. No bonuses getting replaced by fear of the slammer (for those who are guilty). -g- Most folks on WS are depressed and innocent (even though a lot share that greed feeling in that profession), just losing their jobs in packs. It's drought on the street. But there were certainly quite a few crooks in the upper pack. The social mood is explosive and demands scapegoats, at least. The society completely turned its back on the street. -g/ng-

To: Amelia Carhartt who wrote (17598)	2/12/2009 9:09:45 PM
From: Real Man	4 Recommendations Read Replies (2) \| Respond to of 71456

uk.reuters.com Ouch. They ARE getting warmed up -g- WASHINGTON, Feb 11 (Reuters) - The FBI's caseload of fraud investigations into major corporations and banks could climb from 38 into the hundreds as the economic crisis deepens, a bureau official told Congress on Wednesday. U.S. officials also told a Senate hearing several criminal investigations related to the $700 billion federal bailout program were already in progress. The comments came as Congress moves to tighten fraud laws and demands that the Justice Department prosecutes financial crimes more aggressively to safeguard public money used in financial bailouts that could reach trillions of dollars. "I want to see people prosecuted," said Senate Judiciary Committee Chairman Patrick Leahy said. "Frankly, I want to see people go to jail." The Vermont Democrat has proposed legislation to hire more investigators and tighten laws against financial fraud. Aides said his committee could act within weeks. .......... and so on .......... FBI Deputy Director John Pistole declined to say who was being investigated, but compared the investigations to the collapse of the Enron energy trading company in 2001. "These are companies, businesses that everybody knows about," he said. "We see that number potentially rising into the hundreds." He said the 240 FBI agents and a similar number of agents from other agencies and jurisdictions working on corporate fraud cases represented only about half of the roughly 1,000 who investigated the collapse of the U.S. savings and loan industry in the 1980s, although the scale of the current crisis is far larger. PROBES UNDER WAY Probes related to the $700 billion Troubled Asset Relief Program, or TARP, were already under way, Neil Barofsky, special inspector general for the program, said. "We have already opened several criminal investigations involving multiple jurisdictions, and ... are closely coordinating our executive-compensation oversight efforts with the New York State Attorney General," he said. Trillions of dollars in government money will be potentially at risk of fraudulent activity in the many rescue programs to address the financial crisis, Barofsky said.