The Unsinkable brian cork™

Brian Patrick Cork is living the Authentic Life

a little Government action on the side

September14

Recent Headline: SEC defends $33M settlement with Bank of America

The Securities and Exchange Commission (SEC) affirmed in a legal filing its defense of the proposed $33 million settlement over “the bonus affair”, which arose after Bank of America Corporation agreed to buy Merrill Lynch for $50 billion a year ago.

However, the SEC also says there is “…no factual support to charge individual Bank of America executives in the case”.

I am tempted to hold myself speechless.

…but, I could never do that. And, you reader, would have none of that.

So… Why then, did they impose a fine on Bank of America to begin with?

Meanwhile… A federal judge has delayed approving Bank of America’s proposed settlement with the SEC. He asked for filings by Wednesday from the SEC, and the bank, so that he can decide whether to approve the deal.

How is this a deal? Isn’t it, in some reality, a scam?

Let me get this straight… Merrill lynch executives bilk the public by misrepresenting the truth. The company then gets bailed out by our government. The SEC cuts a little deal that puts pocket change back in government coffers – so, they can pretend like they do something. Now the courts FINALLY want to get involved, and also pretend like they are doing something.

I get distracted by shiny things often enough. But, I see a pattern here as well.

I wonder who is going to take credit for any of this once someone sorts it out?

Where the hell is an indignant media?

In other news:

WASHINGTON (AP) – Economic activity is stabilizing or improving in the vast majority of the country, according to a government survey released Wednesday. The findings indicate that the worst recession since the 1930s may be over.

That’s it?

Okay. That’s it then. Everybody back to work (just in time for Labor Day to be over). No more excuses. The media has made a statement (perhaps anticipating my outrage, as outlined above).

I am guessing “the memo” was finally issued by the Obama administration.

Peace be to my Brothers and Sisters.

Brian Patrick Cork

One Comment to

“a little Government action on the side”

  1. Avatar September 14th, 2009 at 9:44 am Posts about Barack Obama as of September 14, 2009 » The Daily Parr Says:

    […] like the one that sent the global economy into a tailspin last year. Obama has called […] a little Government action on the side – briancork.wordpress.com 09/14/2009 Recent Headline: SEC defends $33M settlement with Bank […]


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What’s All This About?

"What am I looking at?", you might wonder.

Lots of stuff.

Meanwhile, here, I discuss events, people and things in our world - and, my (hardly simplistic, albeit inarticulate) views around them.

You'll also learn things about, well, things, like people you need to know about, and information about companies you can't find anywhere else.

So, while I harangue the public in my not so gentle way, you will discover that I am fascinated by all things arcane, curious about those whom appear religious, love music, dabble in politics, loathe the media, value education, still think I am an athlete, and might offer a recipe.

All the while, striving mightily, and daily, to remain a prudent and optimistic gentleman - and, authentic.

brian cork by John Campbell





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