PUBLIC inquiry begins in U.S. into financial crisis
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Sunday January 17, 2010 18:27
by I. Stone
A PUBLIC inquiry has begun in the U.S. into the financial crisis.
Leaders of Wall St's biggest firms have already been grilled. The Commission is to issue its report by Dec 15 of this year.
The "commission is off to a decent start. They are breaking down tough concepts, showing the interconnectedness between Wall Street, legislators and regulators and fishing with dynamite when it comes to exposing bad actors."
http://www.thenation.com/doc/20100201/kaufmann
Its time for Fianna Fail to stop the foot-dragging. A PUBLIC inquiry should be underway already, not a crony cover-up behind closed doors which is what Cowen is proposing.
Comments (7 of 7)
Jump To Comment: 1 2 3 4 5 6 7Proceedings and submissions are being posted on line.
Isn't democracy wonderful?
F.F. wants secrecy because they fear the truth.
http://www.fcic.gov/
"FIANNA Fail and the Greens were due to hold crunch talks this evening to agree a format for an inquiry into the banking crisis."
http://www.herald.ie/national-news/ff-resist-public-ban....html
The Greens as usual will cave in to Fianna Fail
Just as the tribunals were wonderfully designed so that no criminal charges could be laid again st anyone proven to be guilty of a crime by the Tribunals, without a separate case and investigation being initiated (whereupon the 'victim' would say he couldn't get a fair trial), so Fianna Fáil have announced a useless investigation into the banking crisis which is categorically designed to save the blushes of FF's old buddies in the banking and building worlds. The public, who are paying for the foibles of these gougers, know that they should be arrested and questioned: none of them has been. They also know that no arrest of the top dogs will ever take place, though no doubt some silly lower-scale executive's head will roll.
Once again Fianna Fáil are protecting their friends, the same who gave out loans, threw money around like confetti, and parked themselves in the Galway Tent. We are shamed before all of Europe, while Lenihan and others crow that it's an investigation that would shame us! What utter drivel! What garbage! Yet we swallow it, sit supine in front of 'Big Brother' while what is in effect a class war is won by the rabble ruling and financing Fianna Fáil, a party which, in any country in Europe, would be run out of office.
So I wouldn't be out of hand in saying good luck to them. We deserve everything that's thrown at us. We are gombeens to a man, thinking we know it all and are comfortable, while the government wink and nod their way into our wage packets or crush our dole.
It's interesting how the whole business of Fianna Fáil screwing us with a Mickey Mouse inquiry which protest Cowen and the FF bankers has disappeared from commentators' musings here. Like it's somehow simpler, easier, to look at things abroad than at the serious questions left unanswered here at home. No wrongdoing happened at Fyffe's, either, apparently. It was all a mistake.
It's time to start preparing in earnest maybe?
"Mrs Merkel has cancelled a high-profile trip to Russia on September 7, the crucial day when the package goes to the Bundestag and the country's constitutional court rules on the legality of the EU's bail-out machinery."
"If the court rules that the €440bn rescue fund (EFSF) breaches Treaty law or undermines German fiscal sovereignty, it risks setting off an instant brushfire across monetary union."
The above excerpts have been taken from an article (dated August 28th 2011) at:
http://www.telegraph.co.uk/finance/financialcrisis/8728....html
As the above piece of very recent ESRI advice seems highly dubious to me (for constitutional and other reasons), and very untimely, I believe a fresh -- and hopefully a much better quality -- public enquiry is now urgently needed into the causes of (and possible remedies for) of the present global financial crisis?
"The ESRI report describes the changes to the terms of EU bailout funding, agreed in Brussels on July 21st, as 'very favourable to Ireland'."
The two excerpts above are from the September 1st 2011 Irish Times article at:
http://www.irishtimes.com/newspaper/breaking/2011/0901/....html
"Member States must not forget what they have agreed at Maastricht."
"I am confident that we will be successful with our constitutional complaint against the unconstitutional rescue plan, going by the merits of the case, and that the Constitutional Court will stop the transformation of the European Monetary Union into a liability and transfer union, triggered by the rescue packages."
The above quote is by Peter Gauweiler, CSU MP, who (with others) has challenged the bank bailout mechanism as not being in line with the European primary law, particularly with the TFEU's "no bailout" clause and the German Constitution.
The decision of the German Constitutional Court relating to this matter is due to be made known on Wednesday (September 7th 2011).
Some of the background information on this issue can be found at www locations such as the following:
http://www.europeanfoundation.org/my_weblog/2010/11/are....html
It may be worth keeping in mind that our lawyers in the Republic of Ireland could easily have initiated a similar -- or even much stronger challenge, allowing for the contents of our particular Constitution -- were they not all so disgustingly cowardly and corrupt in relation to such matters (as I see things).
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