ClapSo to feckless appaRATchiks: INDITE!
*** DOW DEATH SPIRAL™ ***
|Trade Time:||4:05PM ET Oct 17, 2008|
|Day’s Range:||8718.25 – 9281.12|
DIVE, DIVE, DIVE!
“If you created a blueprint for an apparatus that utterly erased critical thought, you can make none more efficient than the American corporate media.”
“The next time someone tells you America has a two-party system, I suggest you demand a recount.”
Well Cricketeers, reports are flying that there are subpoenas being served to some of the corpoRATe crooks. This is a good thing as far as it has so far gone. This from cnnmoney:
Former Lehman Brothers CEO subpoenaed
Dick Fuld has received grand jury subpoenas in probe of the largest bankruptcy in U.S. history.
October 17, 2008
NEW YORK (CNN) — Former Lehman Brothers CEO Richard Fuld has been subpoenaed in connection with three grand jury probes into the investment bank’s bankruptcy, a source with direct knowledge of the bankruptcy filing told CNN Friday.
Lehman Brothers announced its filing on September 15, the largest such filing in U.S. history.
DAGNABIT! The real question is whether these subpoenas will lead to anything more then wrist slaps for the corpoRATe thieves. This from reuters:
Probe of Lehman collapse escalated: report
October 18, 2008
NEW YORK (Reuters) – Prosecutors have stepped up the investigation into the collapse of Lehman Brothers, with at least a dozen subpoenas being issued including one to the investment bank‘s chief executive, Richard Fuld, The New York Times reported on Saturday.
Citing people close to the probe who requested anonymity, the Times said federal prosecutors in Brooklyn, Manhattan and New Jersey were examining events leading to Lehman’s collapse and bankruptcy filing.
One person said New Jersey prosecutors were looking into whether Lehman executives including Fuld misled investors involved in the $6 billion infusion of capital announced by Lehman in June about the bank’s condition, the Times said. That infusion came as Lehman disclosed a $2.8 billion third-quarter loss, which caused its shares to plunge.
The Times said the New Jersey Division of Investment, which put money into the capital raising, had been subpoenaed, and that the division’s director did not return a call seeking comment.
Brooklyn and Manhattan prosecutors meanwhile are looking into remarks made by Lehman executives during a September 10 conference call, which was five days before the company’s bankruptcy filing, the newspaper said, and are also investigating whether Lehman assigned proper values on its large commercial real estate holdings.
It remains unclear whether any of the offices will bring their cases, the newspaper said.
SONOFABUSH! There you have it. They are investigating and there have been subpoenas served, but there have been no charges made, and there may be none.
The other thing to keep in mind is that there was at least one move BACK IN 2005 to stop the corpoRATe criminals at fannie and freddie from running completely amok. This from ap:
AP IMPACT: Mortgage firm arranged stealth campaign
By PETE YOST, Associated Press Writer
October 19, 2008
WASHINGTON – Freddie Mac secretly paid a Republican consulting firm $2 million to kill legislation that would have regulated and trimmed the mortgage finance giant and its sister company, Fannie Mae, three years before the government took control to prevent their collapse.
In the cross hairs of the campaign carried out by DCI of Washington were Republican senators and a regulatory overhaul bill sponsored by Sen. Chuck Hagel, R-Neb. DCI’s chief executive is Doug Goodyear, whom John McCain’s campaign later hired to manage the GOP convention in September.
Freddie Mac’s payments to DCI began shortly after the Senate Banking, Housing and Urban Affairs Committee sent Hagel’s bill to the then GOP-run Senate on July 28, 2005. All GOP members of the committee supported it; all Democrats opposed it.
In the midst of DCI’s yearlong effort, Hagel and 25 other Republican senators pleaded unsuccessfully with Senate Majority Leader Bill Frist, R-Tenn., to allow a vote.
“If effective regulatory reform legislation … is not enacted this year, American taxpayers will continue to be exposed to the enormous risk that Fannie Mae and Freddie Mac pose to the housing market, the overall financial system and the economy as a whole,” the senators wrote in a letter that proved prescient.
The above quoted article should give anyone thinking of voting dem this election pause! REMEMBER BOTH the ethically challenged dirty dems and filthy repubs did noting to stop the corpoRATe criminals from continuing their larcenies, and once the corpoRATe crimes crashed our economy. The dirty dems and filthy repubs passed the larceny by legislation corpoRATe welfare bailout! I have made my feelings known about what need be done:
CRIMINAL PROSECUTION OF THE corpoRATe THIEVES!
“The precarious state of things is not the result of some preordained theology or unstoppable force of nature. We’re in this mess thanks to human decisions. If different decisions had been made in the past, it’s likely that we would’ve had different outcomes. If different decisions are made now, perhaps we’ll have better outcomes in the future.”
Click that link to see what need be done, then support and vote NADER for REAL CHANGE!
The Telepathic Crickets™ on the ClapSotronics editorial board and I wanna see ARRESTS and CONVICTIONS of a load of corpoRATe criminals!
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The scientifically impossible I do right away
The spiritually miraculous takes a bit longer