Is this a joke?
Washington (AP) – The Obama administration has formed a new task force to target financial fraud – replacing an earlier corporate fraud task force.
Attorney General Eric Holder says the new group will have a broader scope – and incorporate state investigators as well as federal agencies – to investigate and prosecute financial crimes that worsened the market collapse.
The attorney general made the announcement standing with officials from the Securities and Exchange Commission, the Treasury Department, and the Department of Housing and Urban Development. The task force replaces one created in 2002 by the Bush administration following the corporate scandals surrounding WorldCom, Enron, Adelphia, and other firms.
Wow. So we’re going to trust the government to target financial fraud that made the market collapse when the majority of blame lies at the feet of Washington?
Take a look at the massive su(ck$ a$$)ccess of the $787 billion stimulus in creating (or saving? LOL!) jobs:
Here’s a stimulus success story: In Arizona’s 15th congressional district, 30 jobs have beensaved or created with just $761,420 in federal stimulus spending. At least that’s what the Web site set up by the Obama administration to track the $787 billion stimulus says.
There’s one problem, though: There is no 15th congressional district in Arizona; the state has only eight districts.
“The inaccuracies on recovery.gov that have come to light are outrageous and the Administration owes itself, the Congress, and every American a commitment to work night and day to correct the ludicrous mistakes.”
There’s the understatement of the year: “correct the ludicrous mistakes”. The only problem with this statement is that the administration will try to “correct” their mistakes by either firing the people who reported the inaccuracies and replacing them with people who don’t squeal, or they will “correct” their mistakes with new reports that “don’t need to be audited because they have been ‘verified’ already”.
Of course there’s always more:
More than ten percent of the jobs the Obama administration has claimed were “created or saved” by the $787 billion stimulus package are doubtful or imaginary, according to reports compiled from eleven major newspapers and the Associated Press.
Based only on our analysis of stimulus media coverage in the last two weeks, The Examiner has created this interactive map to document exaggerated stimulus claims. The map, which will be updated as new revelations appear, currently reflects an exaggeration by the Obama administration of about 75,000 jobs, out of the 640,000 jobs supposedly “created or saved.”
Ultimately, the Obama administration and the Democratic Congress set up a $787 billion slush fund to create more government jobs and to finance Democrats’ 2010 campaigns, while the taxpayer foots the bill. So much for stimulation.
But hey, bring on that task force to find financial fraud. Just make sure they don’t turn look at the crooks and liars in the White House and Congress – or they may end up unemployed like Gerald Walpin and others.
This comes from PEU Report:
Not on the list?
1. Fraud that led to the financial crisis.
2. Insider trading by New York Fed Chairman Stephen Friedman (purchase of GS stock)
3. Insider trading by Senator Dick Durbin (purchase of Berkshire Hathaway)
Wall Street doesn’t play by the same rules as Main Street. Neither do the Beltway Boys. As long as the Beltway’s revolving door is greased and spinning, neither group ever will.