NO QUARTER FOR CORRUPTION (Focussing on The Fed./FRBS)

[Telephonics]

Stockgate: Taking it to the States
By Mark Faulk
May 26, 2006




Utah Gov. Jon Huntsman, Jr. just signed a new state law that calls for stiff penalties against brokers, clearing firms, hedge funds, and anyone else who sell and then fail to deliver stock to customers, in effect creating counterfeit shares that artificially depress the value of company and shareholders’ stock. On the very same day, it was reported inn the New York Times that the top 26 hedge fund managers all earned over $130 million dollars each, and the top two managers made more than a billion dollars apiece. That’s 25,000 times what the average wage earner in America earned last year.


Well guess what? Now it’s our turn. Since our federal government and Congress have abandoned its own citizens in favor of the big money special interest groups, it’s up to the states to do the right thing for their citizens. Every state in America should pass legislation similar to Utah’s, and every voter in America should demand that their elected officials take decisive steps to protect America’s economy, employee and tax base, retirement accounts, and shareholders’ investments.


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http://www.faulkingtruth.com/Articles/LettersToEditor/1030.html


This commentary is also posted at The Sanity Check, where you can post your comments as well:
http://www.thesanitycheck.com/Blogs/MarkFaulksBlog/tabid/86/Default.aspx