We been robbed -- especially teacher. Be sure to read this article

[JDPriestly]

Someone posted this on DU today. It is probably the most important post of the day.

It alleges and presents evidence that Morgan-Stanley committed massive fraud on the American taxpayers with its alleged Bear Stearns rescue.

Teachers' funds were among those invested in the Bear Stearns Co.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=103x359087

We need to get our Congress to investigate this.

[ORDagnabbit]

1. LOL...congress investigate... LOL congress controlled by the corporations...

no investigation ever

[JDPriestly]

3. What else are you going to do?

I don't think you have read the article, because if you had, you would know that a Congressional investigation (at least in my view) is probably the only recourse we have. States can do nothing. The SEC refuses to do anything.

Congress was defrauded. Congress agreed to the bail out. Congress is responsible.

[Benhurst]

2. "Our Congress?" You mean the one with Speaker Nancy "Impeachment's off the table" Pelosi?

:rofl:

[MichiganVote]

4. A township road commission would do a better job than "our" Congress.

[bobbolink]

8. Goddess, that's sad.

:(

What's even sadder is that what you have written is TRUE.

:cry:

[MichiganVote]

9. Well I'd volunteer mine but they are all republicans

[enid602]

5. Why

Why in this day and age would any pension fund (much less a large one) invest large amounts in the stock of a single company? Haven't they heard of mutual funds?

[N4457S]

6. Yes...

...and you can count Paul Volcker (of all people) among those saying so.

My wife sent me a link to an article where financial types in very high places in Europe are discussing the possibility of the Fed losing its ability to control interest rates.

Bottom line? They've let the dollar go to hell to such an extent that we're about to lose control of our country.

We've become so addicted to cheap money from foreign investors and the Fed has become so politicized that it can no longer be trusted. If you want to know what's coming in terms of the cost of borrowing money these days, you almost need a Bachelor's degree in Finance. We were PoliSci majors in college twenty years ago but we're in process of educating ourselves. I thought I'd never have to know this stuff, but boy...was I wrong.

[JDPriestly]

7. Could you please give me a link to that article.

Don't worry about the language. I can read it.

[N4457S]

10. I Read It...

...on the train. It was in the Wall Street about two weeks ago.