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60 Minutes: The Case Against Lehman and Financial Regulators

Posted by Larry Doyle on April 23, 2012 7:28 AM |

Having been away for the weekend, I missed last night’s edition of 60 Minutes and thank a loyal reader who brought it to my attention.

How is it possible that even today an institution such as Lehman Brothers, which clearly engaged in accounting maneuvers designed to disguise its true financial position, is not pursued so real justice can be meted out?

We keep coming back to the same old question: Where were the regulators, both the SEC and FINRA? Pervasive evidence over the years continues to persist that our regulators were and are fully and totally captured as they served to protect Lehman and virtually every other major Wall Street firm. The fact that the SEC has still not chosen to pursue Lehman executives is a massive indictment of our financial regulatory system. This is not a difficult assessment to make. Enough with the sovereign immunity for the SEC and absolute immunity for FINRA. Put these institutions and appropriate individuals on trial along with the appropriate Lehman execs…and many more. The integrity of our nation is at stake.

Watch this 13 minute video and ask yourself the question, “Is our system corrupt”?

How can one not come to that assessment? The stench of the Wall Street-Washington Incest remains overpowering. Our children should hold us in contempt for allowing our elected officials to fail us so miserably.

Do you feel like screaming? I do…so here goes.

Barack Obama…GUTLESS!!
Joe Biden…GUTLESS!!
Eric Holder…GUTLESS!!
Mary Schapiro…REALLY GUTLESS!!
Robert Khuzami…TOTALLY GUTLESS!!
Richard Ketchum…GUTLESS!!
Appropriate House and Senate Committees…GUTLESS!!

More than GUTLESS, these individuals are all CAPTURED by the big money on Wall Street. As such, they are little more than Wall Street “BITCHES”. Do you disagree?

Watch the video…and then navigate accordingly!!

What do you think?

Larry Doyle

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I have no affiliation or business interest with any entity referenced in this commentary. The opinions expressed are my own. I am a proponent of real transparency within our markets so that investor confidence and investor protection can be achieved.

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