Tuesday, April 27, 2010

Goldman Sachs execs grilled today

Some of the past head honchos at Goldman Sachs are being questioned by congress today in an attempt to get to the bottom of what most see as the largest fraud perpetrated on unsuspecting investors, while a few bet that the collapse would happen.

We know now, that some at the SEC, the group charged with oversight were busy watching porn, so much so, that in one case, an SEC employee's computer was filed to the max, while others were viewing 8 hours a day, at the very same time, our financial world was on the brink of total collapse.

As I've written in the past, the SEC is just as guilty in letting Goldman and others create a world of synthetic risky bets that were sold knowing that failure was at hand.

And as we know now, financial reform has stalled on Capital Hill mainly because of the lobbying being done by those who benefit the most from fraud, greed and unethical business practices.

Amendments to the casino bill...

Last week our Rep voted against a salary cap for the Gaming Commissioner of 125,000, rejected an amendment banning casino employee's from working for the State Gaming Commission and rejected open bidding to operate slot machines at race tracks.

If and when the Senate decides the casino question, you can bet your last dollar that Beacon Hill will prosper more than any group of people and will be just another in a long list of flawed politically biased decisions that will haunt us for years.

Convicted State Rep at it again

Former Springfiled state rep Chris Asselin, who served a 18 month sentence for corruption has turned in enough signatures to be on the ballot in November. He pleaded guilty in 2007 for bribery, theft and conspiracy that also included his farther who admitted to taking bribes and illegal campaign contributions.

Level 3 sex offenders can't work at schools, bank robbers can't work at banks, and convicted state reps should not be able to hold elected office again, ever.