Sense on Cents

To: Wall Street, Washington, and State Capitols

From: Sense on Cents

Re: Auction-Rate Securities Fraud and Financial Regulatory Reform

To all those enmeshed on both sides of the political-financial incest and currently debating and lobbying on the merits of proposed financial regulatory reform, you are proving yourselves to be nothing more than massive frauds yourselves by not fully addressing and exposing the single greatest financial fraud perpetrated on American investors, that is the world of auction-rate securities.

To President Obama, members of Congress, financial regulators, and Wall Street executives, your unwillingness and inability to openly and honestly address the perpetuation of the fraud surrounding ARS ($150 billion ARS remain outstanding) paints you as nothing more than aiding and abetting the fraud itself. Who amongst you is even willing to fully address this topic? (more…)