October 23, 2008

The SEC's incompetent chairman Chris Cox: "Somewhere in this terrible mess, laws were broken" Gee, Chris, ya think?

He also said the government was doing the best it could to identify and pursue lawbreakers.

HousingPANIC would like to help him. Uh, Chris, you might want to look here for starters:

Man, what a flipping idiot.

January can't come soon enough.

America - a once proud nation of laws, where thanks to incompetent and corrupt officials like Christopher Cox, lawlessness reigned, and a country was brought to its knees.


Anonymous said...


I hope you aren't holding your breath until jan. congress has had the power for 2 years to stop this mess and start investigating it. I doubt the change of power in jan. will change much. Obama is more beholden to the financial community than mcloser or bush. plus obama will do everything in his power to continue making housing more affordable. bank on it.

I am investing with the mindset that these monkeys will keep us on this path until there is complete and absolute financial meltdown. Their "do good, help the underprivileged, everyone deserves to own a home" mantras are going to kill us financially. so far it is paying off handsomely but I am still sad because it doesn't have to be this way but no way am I going to try to fight the investment currents.

Anonymous said...

Angie for President! (of the prisoners recreation fund).

Ange, they are keeping a light on and a bed warm for you.

It's just a matter of time. Your New Wife is named Bubba and smells like used bacon.

You will not be hearing wooden doors close for a long, long time punk.

You should be able to sit down without pain in about 2016... (If you drop the soap in the shower, just leave it there, Ange.

norma rae said...

Interesting, in the background of Tangillo's picture it says Milken Institute. As in "A non-profit, non-partisan economic think tank whose scholars publish research papers and conduct conferences on global and regional economies, human capital, demographics, and capital markets." The CEO of this organization is Mike Milken. Is this the same Mike Milken who was the junk bond king who went to jail many years back? If so, does any one find it ODD or freakishly ironic Tangillo and Milken would be connected?

Chris said...

Keep the faith Keith. Remember it took a while to hang Skilling and Lay at Enron. They just needed to hang the underlings first before they got around to the big boys.

Here is a link to an article that shows the Los Angeles prosecutor is champing at the bit to draw and quarter these guys.


Some snippets:

"The top federal prosecutor in Los Angeles indicated Thursday that charges will be filed in the coming months in a sweeping investigation of banks and subprime lenders for their role in the nation’s mortgage crisis.

“I think we are going to see some fairly dramatic results in the near future,” U.S. Attorney Thomas O’Brien told The Associated Press. “There are people who have made many millions of dollars preying on unsuspecting people. That’s wrong. That’s fraud in a tremendous amount.”

Anonymous said...

You get away with stuff if you pay the right people.