http://bit.ly/6SuKuh - - - The Securities and Exchange Commission exists to enforce trading laws and ensure as much transparency as possible on Wall Street. The bailout of AIG made American taxpayers the majority stockholder in the insurance giant, with hundreds of billions of dollars flowing from Treasury to AIG, and then to … whom? Thanks to a strange decision by the SEC, we won’t know the details for another eight years:
... This administration came to power on a promise of more transparency and open government. At the moment, we have a tax evader running Treasury who instructed AIG to keep its mouth shut in his previous job, and now apparently has the SEC continuing the same tactic. Meanwhile, American taxpayers have poured over $150 billion into AIG, supposedly to rescue it, only to find out that Geithner used AIG as a slush fund to capitalize other financial institutions. Who chose the winners and the losers? We don’t know. The SEC won’t let us see the records. How were these institutions chosen? We don’t know. The SEC won’t let us see the records. What were the political connections between the winners and people like Geithner, Hank Paulson, and members of the Bush and Obama administrations? We don’t know. The SEC won’t let us see the records. AIG only exists because of taxpayer funds. Its records should be as transparent as possible. Instead, the SEC has allowed them to make a special case for secrecy in the distribution of taxpayer dollars in a shady enterprise that looks as if it circumvented Congress in interventions. If we had a Congress instead of a supine rubber stamp for the Obama administration, they might show some interest in investigating the SEC, AIG, Geithner, and everyone connected to this. - - - Ah, transparency! How's the "new era of responsibility" working for you? - Publius -- "It ought never to be forgotten, that a firm union of this country, under an efficient government, will probably be an increasing object of jealousy to more than one nation of Europe; and that enterprises to subvert it will sometimes originate in the intrigues of foreign powers, and will seldom fail to be patronized and abetted by some of them. Its preservation, therefore ought in no case that can be avoided, to be committed to the guardianship of any but those whose situation will uniformly beget an immediate interest in the faithful and vigilant performance of the trust." [Federalist Papers #59] _______________________________________________ Post Messages to: [email protected] Subscription Maintenance: http://leafe.com/mailman/listinfo/profox OT-free version of this list: http://leafe.com/mailman/listinfo/profoxtech Searchable Archive: http://leafe.com/archives/search/profox This message: http://leafe.com/archives/byMID/profox/[email protected] ** All postings, unless explicitly stated otherwise, are the opinions of the author, and do not constitute legal or medical advice. This statement is added to the messages for those lawyers who are too stupid to see the obvious.
