STREETS

The War Against Wall Street

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Who made this mess!?!

The heads of the big brokerage firms and Hedge Funds caused this mess and almost simultaneously destroyed the U.S. and world economy. We must put these bad guys in jail and take away all their money!  In my opinion, they have always been corrupt and greedy, but this time they were also stupid. These are the same firms that racked up violation after violation, went under (or almost went under) and still were bailed out by Congress.

The Justice Department holds the publics trust in prosecuting these violations and putting a stop to these acts.  We believe the SEC and the Justice Department are not up to the task!  In fact, the Justice Department doesn’t even have a Securities Division.

As it stands today, a brokerage or hedge fund firm has no fear about committing a grievous violation as they so obviously have the Justice Department out-gunned.  The firm who committed the violation will pit the best law firms in the world against an underpaid Justice Department bureaucrat.  That is not a scenario that is going to cause a brokerage or hedge fund firm to lose any sleep.

When perpetrators are caught and prosecuted to the amazement of everybody, the penalty is so trivial that it is not a deterrent, but an incentive to others to do the same thing. The laws have enough penalties in them, they just have to be enforced and enforced by people of the highest order in order to make it possible to beat the big law firms that are going to represent the big brokerage firms. The penalty must be fines and jail time that wipe that individual out, period.

It’s time for Congress to step up and change the system.  The old way of doing things is no longer relevant in today’s world.  I think we all agree that there have got to be consequences when people do bad things.  If there aren’t any consequences, or if the consequences are so minor as to be nothing more than a slap on the wrist, then we have given our unspoken approval to the people who commit these frauds!

An example is Michael Milken, he was known as the Junk Bond King.  After he was convicted of wrong doing, he went to jail, and paid a fine of around $600 million dollars.  However, when he got out of jail he still had his assets plus millions of dollars left.  How many people would be willing to go to jail for two years to get out and have that kind of money waiting for them?  I think we might get a few takers.

That simply is not good enough.  We have to hit them where it hurts.  We have to deter others from doing this so that we may never find ourselves in this position again.

If the US Government is going to bail out someone, they can bail out me and you!

We don’t have to sit still.  We can fight back and we can make a difference.  Please contact your Representative and Senator.  Whether by mail, email or over the phone…..Just make your voice heard!legoooooooooo!