Saturday, April 25, 2009

Bernanke, Paulson, Above the Law

There is no better example of high-level corruption under the guise of "national emergency" than Hankie Paulson's now admitted threat to Bank of America president Lewis that he had better keep the true shape of Merill Lynch's finances from his shareholders, or face the entire board or himself being ousted by Bernanke and his Federal Reserve boys.

It just so happens that keeping important information like that from shareholders is a violation of the law. Securities and Exchange Commission law, that is - precisely the law Hank Paulson was hired to uphold.

Naturally, Paulson has recanted now. First he fingered Bernanke to putting him up on it,now he claims it was "all his idea" and Bernie never told him o say that. Now we don't know which of Paulson's statements was true. We only know that one of them was a lie. Poor Hankieboy. He should have done what all good criminals do and deny everything Lewis accused him of.

In either case, whether Bernie put him up to it or not, Bernie surely knew what he was doing these guys coordinate everything. I haven't seen a press release of Bernie reprimanding Hankie for violating the law, have you?

I also haven' seen any calls for a Congressional investigation into this, have you? All I saw is that Obama has "complete confidence" in Bernanke. Confidence to do what? Break the law?

Ultimately, Congress is responsible for this mess. That means we, the American electorate are responsible, because we determine who gets to stay in Congress and who doesn't, so yes, give your Congressman a guilt trip over this to push him to co-sponsor the Federal Reserve Transparency Act(HR 1207)- and then fire him when it comes to election time if he votes for laws that violate his oath of office.

See how much fun this is?

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