Four astounding men, Gary Aguirre, Bill Black, Richard Bowen, and Michael Winston, are the founding members of the Bank Whistleblowers United. These well-educated men have the moral integrity and intelligence to see the damage Wall Street has caused and have devised a plan to prevent or at least reduce the frequency and harm of future economic crises.
We, as American citizens, know we have not recovered from the 2008 economic crisis as our present administration and Congressional leaders would like for us to believe. Although lots of warriors have stepped up to battle the banks, none have been as united or noteworthy as these four financial fraud-busting astronauts, venturing into a red banking hole existing in cyberspace which has been an arduous climb up-Hill (pun intended) to penetrate, decipher …and even more difficult to correct. Continue reading →
It’s not because NJ “can’t afford” to pay pensions – it appears its because NJ carelessly invested in fraudulent securities without thorough due diligence like nearly every other state in America. They gambled away the retirement funds of their employees.
In the NY Times today SEC Mary Jo White announced the use of Section 20(b) of the Exchange Act – indirect culpability … It’s time to grill the finance directors on who gave the orders to buy these crappy securities because they had to know (especially after 2004) that these were questionable investments. What promises were made by the investment banks in exchange for the pension fund investments?