Royally Kranked

Wednesday, October 05, 2005

GAO Report confirms that ripped off investors are NOT a priority for this Admioniustration

Since 2002, defrauded investors have received only about 1 percent of the billions of dollars collected for them by securities regulators, congressional auditors have found.

Congress' Government Accountability Office, in a report released Monday, said the Securities and Exchange Commission has taken in more than $4.8 billion in civil fines and restitution in settlements with companies and individuals during that period. However, the SEC has distributed to the entitled shareholders only about $60 million from three of the 75 cases in question, the report found.

So, if you're a small investor, small business owner, or combination of both, don't count on this Administration moving Heaven & Earth to help get the payback deserved from being defrauded in the first place

Unless the Corp you work for is Halliburton, The Holiest of Grails for the fusion of insider influence, political patronage and super sweet financial no-bid contracts/rewards

The Administration claims to be both in favor of a Free Market AND big on the concept of taking accountability for one's own actions

But, as the report shows, all that blather goes rapidly out the window whenever a major campaign contributing corporation gets in legal trouble relating to defrauding investors

At which point, the free market & personal accountability on the part of the Corps CEO's & Boards of Directors suddenly turn invisible when it comes to legal actions available to this Administration


President Jr punish the "haves & the have mores", the ones he calls "My Base"?

Why, PERISH that nettlesome thought indeed


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