CMKM Diamonds Inc (fka CMKX)

[jetfish]

Senator Grassley Lays Down The Law
Bob O'Brien's Sanity Check Blog
Posted by: bobo 10/29/2006 12:10 PM

Usually I disseminate 2000 words in my column like so much aspirin on New Year's day.

Today, fortunately, I don't need to. In two remarkable letters, Senator Grassley shows that not everyone is marching in lockstep to Wall Street's melody. Even though at times it seems that the bad guys own the system and can do whatever they want, every now and then we get a ray of hope, and an indication that there are a few honest men left.

The press has a wonderful way of softening and filtering topics that their masters wish to see massaged, so it's best that one go straight to the source documents if one wishes to know the truth. With that in mind, here are the two letters, absent any editorial.

http://www.senate.gov/~finance/press/Gpress/2005/prg091906a.pdf

http://www.senate.gov/~finance/press/Gpress/2005/prg091906b.pdf

Read them, and you get a sense that Grassley is on to the obfuscation campaign from our regulators, and isn't having any of it.

Now, if we can just get Congress to understand that taking investors' money and not delivering what they paid for is fraud, we could really move the ball down the field.

Baby steps. But this isn't a bad start.


Ben Stein is a very smart man. His latest very smart column for the NY Times is also a must read - it approaches the rampant ransacking of American investors from a different angle, although one that is parallel to the overall take on things advanced by this site.

A good read… http://tinyurl.com/ymrxge Check it out.

Copyright ©2006 Bob O'Brien