1.) Wait, I am sorry I am like a psychic detective or an autistic savant that sees things.� I am just trying to help by telling you what I see.� I am like the "Dog Whisperer"....� When it comes down to it, I see a connection between the FBI investigation of mortgage fraud and the $700 Billion bailout plan on Wall Street proposed by Secretary of Treasury Henry "Hank" Paulson and Federal Reserve Chairman Ben Bernanke and SEC Chairman Christopher Cox.� I can imagine that FBI Director Robert Mueller and Attorney General Michael Mukasey will be next talking about forensic accounting and investigations of Fannie Mae, Freddie Mac, American International Group (AIG), and Lehman Brothers.�
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2.) When it comes down to it, I worked very briefly at a law firm called Friedman & McFayden in Baltimore, MD that represented banks when the mortgagees would file for bankruptcy after the banks would foreclose on their homes because the mortgagees defaulted on their mortgages.� Ockham's Razor says the simplest explanation is the best... and the simplest explanation is that sub-prime mortgages, mortgage-backed "pass through" securities, and credit default swaps have gotten us all into this situation.
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3.) I see things more clearly than the average person and I want to share these visions to help out the way Ogmios would in Nostradamus' quartets.� I have got a Juris Doctor (JD) and half an MBA at Arkansas (MBA) to back me up.� Obviously, the Glass-Stegall Act has been eroded away so that there is no longer a division between commercial banks and investment banks.� The Gramm-Leach-Bliley Act of 1999 allowed the situation such that JP Morgan Chase could do a corporate takeover of Bear Stearns and this move being facilitated by the Federal Reserve without any "poison pill" anti-takeover mechanisms on the part of Bear Stearns.�
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4.) The Gramm-Leach-Bliley Act has allowed the situation such that Bank of America can take over Merrill Lynch without there being any "poison pill" anti-takeover mechanisms on the part of Merrill Lynch.� As far as the other three major investment banks on Wall Street are concerned, The Treasury Dept. and Federal Reserve let Lehman Brothers go into Chapter 11 bankruptcy so that it is now being bought up by the British bank Barclays.� In addition, Morgan Stanley and Goldman Sachs are now commercial retail banks rather than investment banks; the Japanese institutions Nomura Holdings and Mitsubishi are interested in buying off bits and pieces of Morgan Stanley and Goldman Sachs and the billionaire Warren Buffett has invested $5 billion into the preferred stock of Goldman Sachs.
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5.) Earlier last week, JP Morgan Chase did a corporate takeover of� Washington Mutual (WaMu) and this deal was facilitated by Sheila Bair of the Federal Deposit Insurance Corporation (FDIC).� Sheila Bair also tried to intervene with the "fire sale" of Wachovia to Citigroup but Wells Fargo has intervened and I believe that Wells Fargo and Wachovia are now merging to become the largest bank in the Washington, D.C. area.� The NASDAQ, NYSE, Dow Jones, and S&P 500 are not the only stock markets that have been hit worldwide as Japan's Nikkei, Germany's DAX, and London's FTSE have all been hit hard as has Hong Kong's Deng Seng.� The largest bank in the European Union is Fortis and this institution has also been hit hard like the American banks.�Get rid of Golden Parachutes for all CEO's because that's where all the money should not be going (to people like *Carly Fiorina*).� Ask Economists how concepts like Okun's Law, the Giffen Paradox, the Laffer Curve, the Tiebout Hypothesis, Coase Theorem, Precautionary Demand for Money, and Transaction Demand for Money, etc. have to do with the current economic situation.
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6.) Satish's Solution (Ockham's Razor): Let the commercial banks fail and credit markets dry up and you will see a whole new market of angel investors and venture capitalists:
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www.angelsoft.net
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and boards of trustees (at educational institutions) come to the rescue...� Duke University Board of Trustees funded my friend Claude Tellis (from Stonegate like Florida Marlins' attorney *Derek Jackson)*�with his start-up Healthy Food Products..