Thursday, April 9, 2009

Prompt Corrective Action Law (PCA): Off With Their Heads

Haven't seen the interview of William Black by Bill Moyers? Don't miss it - it's an eye opener and methinks something is terribly rotten in er ... ah, not Denmark, but dear old USA. Black's claims of fraud and implicit assumptions that we've been taken by the short term strategies of current corporations gone to extremes - ah, that is, crime - are scary. But even more frightening is the discussion of the PCA (Prompt Corrective Action) law and the fact that this law is not being enforced - a law that was intended to protect the taxpayers from failing banks.

Yes, I see reports of angry people in the USA but where is the action in the streets? We have been and are being screwed by the financial bourgeoisie in this country and we should be rioting. What has happened to the indignant riotous rabble that characterized those who founded this country? It appears that even Obama is held captive by the infamy. What is happening? We don't know and that is what Black is saying - it's a cover-up. Please don't tell me we need the executives, who ran us into this ditch, to get us out of it. If it's the law then the law should be enforced - particularly when the intent of the law was to protect us from what is happening right now - the looting of our citizens.

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