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Last week, a former investigator of the S&L scandal told Bill Moyers Journal that CEOs of...

Last week, a former investigator of the S&L scandal told Bill Moyers Journal that CEOs of many of America's largest banks knowingly engaged in the fraud which has now brought the economy to the brink of catastrophe. Some say the government's failure so far to investigate any wrongdoing "is a much larger scandal that the bonuses being paid by AIG or anybody else."
Comments (6)
  • More accurately stated, "Some say the government's failure so far to investigate any wrongdoing is pretty much business as usual in the current power structure of the US."
    13 Apr 2009, 01:28 PM Reply Like
  • well said
    13 Apr 2009, 01:42 PM Reply Like
  • I watched that interview last week.
    Shocking to say the least.
    In the end, the American people have the ability to make a choice.

     

    We either start to demand investigations, demand transparency, and demand accountability.

     

    OR

     

    We continue to focus on what seems to be the most important things in our lives right now:
    Our cell phones, the amount of useless texting all the country's WalMart workers do between themselves (in their efforts to appear important rather than actually being important) and of course making sure we do not miss a minute of Dancing with the Stars or American Idol, et al.

     

    Whatever the final outcome of all this is, the following statement will hold true:
    We will only have ourselves to blame for any and all outcomes.
    13 Apr 2009, 01:56 PM Reply Like
  • I watched - for 10 mins. Switched it off.
    13 Apr 2009, 02:26 PM Reply Like
  • i agree with you. I don't think anyone in his/her right mind would have allowed the level of leveraging- but that's history. However history should also record who profited by this wheather they were inocent dumb people who did not understand the consequences of massive leverage and securitized 'worthless' bonds!
    13 Apr 2009, 02:33 PM Reply Like
  • It's been over a year since Bear Stearns collapsed and, at least as far as I am aware of:
    No national commission has been appointed to investigate the origins of the financial crisis, and to make recommendations.
    No legislative or executive effort is being made to require the relevant companies to retain their e-mail or other records so in case an investigation is ever made, there will be a paper trail to follow.
    I'm not one who normally puts stock in conspiracy theories, but perhaps there is a big cover-up.
    13 Apr 2009, 02:35 PM Reply Like
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