Panel Probing Financial Crisis Has Wall Street Ties

Wall Street Journal:

WASHINGTON -- Two appointees to a congressional panel investigating the financial crisis work for law firms that represent either Wall Street or its antagonists, raising concerns about the commission's impartiality and likely effectiveness.

Read the whole story: Wall Street Journal

Comments

[hauty007]

Hail, need a cab, oh wait, this is NEWS?

Things are just heating up, waiting for the next shoe to drop, RUN Away Inflation.

[Expatslacker]

You probably won't have long to wait for that, it's comong sooner then later.

[TJCole]

"It's all for the good of the Syndicate, Yossarian..!"

Joseph Heller Catch-22

[trunk65]

"Crooked politicians are a dime a dozen If you've got something on them, they will work cheaper." Boss Tweed.

[TJCole]

So true..our crooked politicians are overpaid...way overpaid...

"Dirty deeds, done dirt cheap..!"

[brandnewstuff]

Self- goverance! Sure that worked! NOT

[DrPneumann]

Hey, just like Bush had an inside man for the 9-11 investigations!

Ain't justice grand?

[RJII]

someone said it best earlier...bank is a four letter word.

[RJII]

i think I'm done with US capitalism. I dont' fit in anymore-- probably never did.
now, I got to be labled a socialist Arab or something by the GOP.

[Mike Keough]

What the hell should we expect. Surprised? Wall Street freaking owns the entire system.

[PhilipTaylor]

We will buy every Politicians Vote with our ill-GOTTEN LOOT!

When you own everything like we do, of course, you own the Media and we will spread only OUR Pr0pag@nda.

We shall use you like the Herd that you are to us!

[RJII]

they own it and destroyed it.

[PhilipTaylor]

We the people of the Corporatist Party vow to MAKE TAKE every last dime we can from AMERICANS and V1CTIMS around the World!

We Vow to keep the focus on Maximizing our Banking and Trading Profits, our Toxic Derivatives Profits, our FEES from Profits, our skimmed-off Incomes and especially our December and Retention BONUSES, and Maximize our Control of CONGRESS so help us we sw@we on the All Mighty Dollar or Whatever we decide to make the currency!

We will buy every Politicians Vote with our ill-GOTTEN LOOT!

When you own everything like we do, of course, you own the Media and we will spread only OUR Pr0pag@nda.

We shall use you like the Herd that you are to us!

We Shall Raise your rates, withdraw your credit and drop you like a H0T Tamale if you hurt our Profits!

Signed,

Corportists for the GOOD of EL1TES around the World!

[sosi]

PS, when you are eventually homeless, we may pay you to hold spots in the lobbying line...

[PhilipTaylor]

1933 the Original Pecora in One Month stopped a cr00ked Banker and in six months passed Glass-Steagall!

As a result of the Original Pecora Commission's findings, the United States Congress passed the Glass-Steagall Banking Act of 1933 to separate commercial and investment banking, the Securities Act of 1933 to set penalties for filing false information about stock offerings, and the Securities Exchange Act of 1934, which formed the SEC to regulate the stock exchanges.

January 1933, Ferdinand Pecora, an assistant district attorney for New York County was hired
Feb 1933 Pecora exposed National City Bank (now Citibank) and caused bank's president to resign.
Final Glass-Steagall Act, passed on June 16, 1933

1933 the Original Pecora in One Month to stop a cr00ked Banker and six months for Glass-Steagall!

[Prakosh]

I think that for a brief shining moment we had a chance for something like this again in the person of New York's Governor and former prosecuting attorney Eliot Spitzer. Unfortunately, he let his p3t3r be his leader and that left him open for an easy out for those who wanted to maintain Wall Street as it now exists. Had he been a less active man he might have done great things.

[trunk65]

"Capitalism is the racket of the ruling class". Al Capone

[Mike Keough]

Holy *hit... where is he now that we need him?

[youtubeit]

this economy is in such deep *&^ yet Obamma & Summers live on another astral plane, unwilling to aknowledge reality, even though 995 of Americans expiernceit and KNoW what's going on, and are tired of the BS.

good articles: http://www.iamned.com

[lynettema]

It seems that the Wingers are getting traction on this economy issue. And we are LETTING it happen because President Obama hasn't fixed everything in 6 months time. Good grief people. Get real.

[twilight druid]

From the start I have disagreed with the bailouts.

Think about it. Bush wrecked the economy and then pushed for bailouts. Obama continued with this policy. Why would you even consider adopting a policy for the economy that Bush pushed for?

This is bipartisan stupidity.

[twilight druid]

You know when you tell kids that if they work and save for things they will appreciate it more?

Adults need to practice what they preach.

Stop using credit. Only buy what you have saved for.

When you have everything, life is unfulfilling. The most memorable times in life are the difficult times. The struggle is what it is all about. Don't get it all now on credit. Live with what you have and put your money away.

And the top priority for home owners should be to pay off their mortgage as quickly as possible. If you are lucky enough to see your income go up, don't increase your spending. Instead increase your payments on the mortgage. Once you own property with no payments on it then you are finally, truly wealthy.

Having a large income with lots of debt does not make you wealthy. It makes you an indentured servant.

[trunk65]

Big box retailers, an unsustainable corporate food industry, and no energy policy are all creations that these MBA geniuses learned in their priviliged halls of learning. Health care reform will fail until the industry itself stops being treated as a massive profit center. You are spot on, all were created to cater to the greed of the consumer. There is no solution coming from government, only smoke and mirrors to maintain the status quo.

[Mike Keough]

You are absolutely, totally, and most unfortunately, totally and absolutely correct. Term limits and public financing of all G*d d*mned elections.

[William1950]

right... only buy what you have the cash for... that is how we can fight back.

[Expatslacker]

Maybe our government should learn that & adhere to it. We're spending money that we are counting on having so far into the future that we will never catch up.

[lynettema]

We need someone who knows more than how to balance his/her checkbook.

[trunk65]

Never said it started in the last eight, just pointing out what no regulation does for these creeps. The problem started 30 years ago, with "trickle down."

[desertman]

now we will have trickle up poverty so it's all good.