Obama, Kick Ass or Fail
Obama, Kick Ass or FailAmerica had a wonderful inauguration of Barack Obama. America has high hopes on President Obama to solve the many problems left by his predecessor George Bush.
Many problems were due to the republican policy of almost no regulation, investigation, or oversight within the banking, brokerage, and insurance worlds.
Many problems were caused by just plain criminal activity.
Today the leading policy to date is to throw money eventually several trillion dollars at the problems. I am pretty sure the agencies are investigating to re-regulate and to adequately staff themselves.
But the major factor to set America correctly is to quickly punish the criminals and little seems to be accomplished on that right now. If America does not catch and prosecute the criminals right away, many will get away with it and others will just play out their hands in court over many years. Greed with little punishment will bring out the criminals to loot the government's investment in America's future. Fast punishment will give many second thoughts to break the law.
Why is Bernard Madoff not in jail and all of his assets confiscated? If he was on bail he should be so broke that he would either be living in a public shelter or if he could find a friend maybe he could sleep on someone's couch. Barry, the confiscate property in drug cases and IRS cases, why not confiscate Madoff's assets? Why not get him a quick trial to live the rest of his life in jail. On the TV news someone was screaming capital punishment in the background which means sentence him to death. LARRY KUDLOW, of CNBC TV says that Madoff should be sent to Gitmo and water boarded.
Madoff had a 3 person outside audit firm that should be punished. Even if they performed a few sample audits they should have found alarming things.
Former Merrill Lynch CEO John Thain is another that should be investigated and prosecuted. http://www.nydailynews.com/money/2009/01/22/2009-01-22_former_merrill_lynch_ceo_john_thain_resi.html . When his company is in jeopardy, why would any sane person spend more than 1 million dollars on redecorating his office? Why would he dish out billion of dollars of bonuses when his company was sinking. Why was he not telling the truth that Merrill Lynch was in deep trouble but told everyone that it was in good shape.
Did not AIG circumvent insurance law by claiming some of it pollicies were not insurance and fell into trouble by not having enough assets to pay off in case of claims? AIG is so fishy. Is it true that all of AIG's bailout money was paid overseas?
Obama, you have to go after the crooks with vigor to show people you mean business. If you do not then it is business as usual for the crooks only they have trillions of dollars of bailout money to additionally go after.......
posted by God Bless America - Bob @ 11:16 AM
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