Posted on 01/22/2009 8:04:37 PM PST by SeekAndFind
Bernard Ponzi-Madoff stole 50 billion dollars from people, which is clearly the largest, most vile scam in U.S. history -- unless, of course, you consider what Fedzilla has done and continues to do with impunity.
Fedzilla is using hundreds of billions -- possibly more than a trillion-- of our tax dollars against our wishes to prop up private industries due to the financial meltdown caused by Fedzilla as a direct result of its willful lack of fiduciary oversight of Fannie Mae and Freddie Mac. Big Brother is a felon.
The shady, negligent and, in my opinion, criminal behavior by the crooks who ran Fannie Mae and Freddie Mac are as guilty as Madoff. The elected bandits such as Sen. Dodd and Rep. Frank who turned a blind eye to Fannie and Freddie in order to line their own pockets have also gotten away with the crime of the century. If their behavior wasn't malicious, reprehensible and criminal enough, these same elected bandits are now bilking taxpayers by making us pay to clean up their horrendous ethical and soulless behavior. If these thugs had any personal or professional ethics, they would have resigned.
Madoff committed his decades-long crimes right under the Fedzilla nose of the Keystone Cops at the Security Exchange Commission, who are responsible for enforcing the federal securities laws. If the SEC couldn't nab the biggest bandit in U.S. history after the SEC had been informed of Madoff's highly suspicious investing activity on numerous occasions, the question needs to be asked: What good are they?
In typical Fedzilla fashion, the SEC's budgets and manpower increased during Ponzi-Madoff's 50 billion dollar robbery. There is a lesson here: the more bloated Fedzilla becomes, the less effective it is at carrying out even its most basic responsibilities and duties.
No SEC official will be fired or demoted, much less criminally charged, for failing to bust Ponzi-Madoff and protect American investors. The lack of Fedzilla accountability is sickening, though sadly predictable and all too familiar.
America does not need more SEC employees, more regulators, more investigators, more regulatory guidance, and more taxpayer dollars to pay them. I say they should get less. Rewarding an agency or an individual for poor performance is the wrong approach. They deserve to be punished, their budgets slashed and their management fired.
And while the SEC is being grilled by congress for their bumbling ineptness, Ponzi-Madoff is sitting comfortably under house arrest in his posh New York City apartment that he paid for by ripping off American investors. If we had a justice system instead of a legal system, Ponzi-Madoff and his close associates and family members who knew of his con would be sitting in a cage with the other street rats while awaiting their trials. There are 50 billion reasons why this con artist crook should be denied bail.
The stench gets stronger, the waste piles higher. What else is new?
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Rock legend Ted Nugent is noted for his conservative political views and his vocal pro-hunting and Second Amendment activism. His smash bestseller Ted, White & Blue: The Nugent Manifesto, is now available at www.amazon.com. Nugent also maintains the Official Ted Nugent Site at www.TedNugent.com.
Well said.
Yes they should as should Nancy Pelosi and Harry Reid.
I wouldn’t hold my breath.
Negligence my foot. They are CRIMES, and that makes them CRIMINALS!!! They need to be tried as CRIMINALS, but that bunch of traitors in DC are just as guilty as they are, so they will look the other way, and these criminals will walk again!
SOX sux.
If they were at ENRON they would be in jail...and should be, IMO.
They meant well. Being liberal means never having to say you’re sorry.
Pressuring banks to loan money to homeless illegal immigrants and inner city renters for “economic justice” under CRA seemed like a good idea at the time.
“barney frank and chris dodd should answer for their negligence’
why? there really is no legal controlling authority dontcha know.
IMHO
Barney’s the Teflon Donkey. .....or K-Y Ass , as it were.
What is the name of the ACT that forced banks to give loans to risky people?
THANK YOU!
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