RISMEDIA, January 12, 2010—Regular readers of my column know that I have been searching for America’s lost prosperity for the last few months, and the ongoing revelations and discoveries have provided ample material for my writing.
What I have discovered is easily the largest financial story in history; a massive transfer of wealth from real estate and equities right into the pockets of the bailed-out, over-bonused banksters.
Quoting Reuters, “U.S. Attorney General Eric Holder said on Friday a newly created interagency task force was focusing on financial fraud and targeting for possible prosecution bankers whose actions contributed to the financial crisis.”
Oh, that will be a busy little task force, indeed. Sooner or later, this story will make it to the front page, and then it won’t go away for a long time.
This isn’t over. And, the toll continues to mount. AIG, the insurer of bad loans, was back in the news Thursday after Bloomberg reported that the Federal Reserve Bank of New York prodded the troubled insurer at the end of 2008 to withhold details of its bailout deal from the public. Isn’t it our money? What
