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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: Katelew who wrote (128247)	1/8/2010 12:02:14 PM
From: Steve Lokness	Read Replies (1) \| Respond to of 542239

Katelew said; There are straightforward laws regarding the dissemination of information to shareholders, or conversely, the withholding of information from shareholders. Yes. So some investors would know this information, all banks getting the money for instance ......and others wouldn't like individual investors. Talk about your unlevel playing field. Lawmakers Press for Geithner Testimony on AIG January 8, 2010 WASHINGTON (Reuters) - Two prominent U.S. lawmakers on Friday called for Treasury Secretary Timothy Geithner to testify to help determine if the New York Federal Reserve Bank improperly influenced insurer AIG to withhold information on payments it made to banks after a government bailout. Representative Spencer Bachus, the top Republican on the House Financial Services Committee, and Elijah Cummings, a Democrat on the House Oversight and Government Reform Committee, requested their respective panels hold hearings on the matter

To: Katelew who wrote (128247)	1/8/2010 12:04:05 PM
From: cosmicforce	Read Replies (1) \| Respond to of 542239

Are you aware that since at least Gerald Ford's time that SEC waives shareholder notification in the event of national security? I couldn't find the link support this, but wasn't surprised when I read it. It may be part of International Security Assistance and Arms Control Act of 1976. It is also in Securities Exchange Act of 1934. See en.wikipedia.org W also granted this authority to the NSA in 2006. So, a company that lies and dissembles for the government (through the request of an unelected official) can't be sued by the shareholders. Talk about national socialism!! businessweek.com