Paulson must go to jail! Just listen to this podcast from The Take Away

[PuraVidaDreamin]

"The Laughter was chilling" a comment that John Hockenberry makes regarding the planning of making
investment banks risky borrowing even MORE risky, while listening to the tape that was made at this
meeting- where they also state they will regulate themselves.

Listen to this folks and you will know their greed knows no bounds AND
THEY KNEW it was bound to fail!!! I'm planning to work on my congressman
DELAHUNT, (HE VOTED NAY) yeah! to work on this- as he is head of the judiciary committee.


http://graphics8.nytimes.com/podcasts/2008/10/03/03backstory-labaton.mp3

Please read yesterdays NYT article

THE RECKONING
Agency’s ’04 Rule Let Banks Pile Up New Debt

By STEPHEN LABATON


http://www.nytimes.com/2008/10/03/business/03sec.html?_r=1&em

>On that bright spring afternoon, the five members of the Securities and Exchange Commission met in a basement hearing room to consider an urgent plea by the big investment banks.

They wanted an exemption for their brokerage units from an old regulation that limited the amount of debt they could take on. The exemption would unshackle billions of dollars held in reserve as a cushion against losses on their investments. Those funds could then flow up to the parent company, enabling it to invest in the fast-growing but opaque world of mortgage-backed securities; credit derivatives, a form of insurance for bond holders; and other exotic instruments.

The five investment banks led the charge, including Goldman Sachs, which was headed by Henry M. Paulson Jr. Two years later, he left to become Treasury secretary.

A lone dissenter — a software consultant and expert on risk management — weighed in from Indiana with a two-page letter to warn the commission that the move was a grave mistake. He never heard back from Washington<

[Delphinus]

1. I'm scared to,

to tell you the truth. I've not even had my cup of coffee - I think I'll wait just a bit before I listen in.

[moodforaday]

2. k&r, nt

[slipslidingaway]

3. Kick for later n/t

[snappyturtle]

4. Until this practice is halted I can't see our taxpayer money serving

any purpose as to stabilizing the financial institutions.

[PuraVidaDreamin]

5. Kicking! Cuz I want you all to get ANGRILY PROACTIVELY MAD!

Paulsen and his gang are laughing at you in this little meeting!