Rep. Gary Ackerman D-NY Blasts the SEC into speechlessness (mostly by interupting answers)

Rep. Gary Ackerman, D-N.Y., was the first to raise the issue of corporate jets at the earlier Big 3 Auto hearing. He is very boisterous and animated at the Madoff Fraud Allegations [Ponzi Scheme] and Financial Markets Regulation hearing, yet he nailed the SEC to the wall. Mr Ackerman didn’t do this by himself, in fact he was just echoing Harry Markopolos, an independent financial fraud investigator and analyst.

I give Harry Markopolos a gold ribbon for working so hard on the behalf of Americans and I give Rep. Gary Ackerman a blue ribbon for appearing to be on the side of good in a great show at the hearing and publicly pinning the tail on the donkey. Our congressmen and congresswomen should be working for and representing the public interest in congress, being the voice of the public, not echoing the hard work of others such as Harry Markopolos.

Background of the SEC (Securities & Exchange Commission):

The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.

This is based on the Securities Act of 1933 often referred to as the “truth in securities” law, the Securities Act of 1933 has two basic objectives:

• require that investors receive financial and other significant information concerning securities being offered for public sale; and
• prohibit deceit, misrepresentations, and other fraud in the sale of securities.

In the economy of today, with billions of dollars being handed out to Wall Street companies, banking and investment firms, mortgage companies, and big industry, we can not afford or tolerate our one government agency (SEC) assigned to protect our economy from fraud, to be paid for nothing.

In the videos below you will hear Merrill Lynch named and you will hear specifically how the SEC has failed to do what the tax payers are paying them to do.

YouTube – Markopolos: I gift wrapped and delivered the largest Ponzi scheme in history to the SEC.

Next is Rep. Gary Ackerman at the helm:

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Fixing America

You may have heard our new fearless leader proclaim that change is what we need and that change must start with fixing America.

Two things come to mind almost immediately with one being that change brings two schools of thought , change for the better, and change for the worse. Change is a great flash word and it was used heavily in President Obama’s campaign, however it is merely a flash word while overstating the obvious that occurs in our lives and our country all the time. Evolution is change. Growth is change. Getting married is change. We have plenty of change already, both good and bad.

The next flashy statement was that America needs to be fixed. Really? I didn’t know America was broken. Congress is broken, yes. The SEC is broken, yes. Government and corporate policies are broken, yes. Our goverment is trying to break its citizens, yes, but America is not broken.

Americans were outraged when the big 3 auto makers flew to Washington D.C. on their expensive corporate jets to extort our government with “give us some bail out money or we will fire 3,000,000 employees” and now we have the President of the United States flying from Andrews AFB to Williamsburgh (155 miles – 12 minute flight) to listen to and speak to the Democtratic Conference.

This is not a cheap flight. When Air Force 1(747) flies, so does the backup 747. The cost of both jets flying 155 miles and then the return trip is huge. The President touts his tech saviness all the time. There is no reason why he couldn’t have video conferenced.

TYLER WHITLEY AND BILL GEROUX TIMES-DISPATCH STAFF WRITERS
Published: February 6, 2009

WILLIAMSBURG — President Barack Obama made a quick trip to Virginia last night…

…Aboard the plane, the president wore a new blue jacket stitched with the words Air Force One in cursive and the presidential seal on his right side and “Barack Obama” on the left side.

“I’ve got my spiffy jacket so I thought I’d come and show it off,” he joked with reporters.

“What do you think about this spiffy ride? It’s not bad.”

I don’t know about anyone else, but I am getting the severe impression that our new President thinks this is fun and games at the tax payers expense.

Stay tuned for:

“Immoral Mothers against Immoral Athletes”

“An Oil Barrel of Monkeys”

“Stimulus Package Stimulates Debt and Abuse”

“Illegal Immigrants Employed, Americans Unemployed”

“$75 Billion to Keep you on Welfare”

“D- Gary Ackerman Blasts the SEC into speechlessness”