Confidence will not be restored until the US again shows the world that they're ready to enforce the basic laws of the land.
Mortgage fraud used to be a crime.
Insider stock trading used to be a crime.
Falsifying financial documents used to be a crime.
But not under Alberto Gonzalez, Michael Mukasey, Chris Cox, Robert Mueller and George Bush. No, those silly laws just got in the way of doing good business. Or launching stupid wars.
The first step toward calming these markets is to arrest the two most guilty parties in this whole mess - Angelo Mozilo from Countrywide and Michael Perry at Indymac. They called them liar's loans, they knew they were enabling mortgage fraud in order to enrich themselves, and they should be in jail. Period. Frog march them for a mile live on every TV in America.
Get them into custody, seize their assets, and make them squeal.
And those two are just the start. Thousands and thousands were involved at high levels and need to go to jail, including some of your Senators and Representatives. And then millions were involved at the lower levels and at a minimum need to be noted and fined.
The people and the markets demand perp-walks. We demand frog-marches. We demand that America becomes a nation of laws, ENFORCED LAWS, once again.
Today. Right now. This day. No more waiting. The markets DEMAND that the laws of the land be enforced. Finally.
Or we simply fall into the abyss.
October 10, 2008
A SPECIAL HOUSINGPANIC MESSAGE TO THE MONKEYS IN DC: ARREST ANGELO MOZILO. ARREST MICHAEL PERRY. START THE PERP-WALKS. THE MARKET DEMANDS IT.
Posted by blogger at 10/10/2008