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Administration to announce financial fraud task force

By Zachary Goldfarb
The Obama administration is set to announce a new task force on Tuesday of the nation's top regulatory officials to investigate financial fraud.

Top officials including Treasury Secretary Timothy F. Geithner and Attorney General Eric Holder Jr. are holding a press conference to announce the task force, which will investigate wrongdoing linked to the financial crisis, today at noon.

The government has been trying to rebuild its investigative abilities in the financial area after many years of atrophy. Numerous probes are under way into potential illegal activity that contributed to the financial crisis, but major cases have been rare and federal authorities were dealt a blow last week when a jury acquitted two Bear Stearns hedge fund managers of violating securities laws in one of the most prominent federal cases linked to the crisis.

The Securities and Exchange Commission has not kept pace with the growth of the financial markets, and only recently have the Department of Justice and FBI begun reassigning investigators back to the financial crime arena, after years when resources were focused on counterterrorism initiatives.

By Web Politics Editor  |  November 17, 2009; 11:18 AM ET
Categories:  Economy  
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Next: Flawed stimulus numbers -- or a flawed promise to provide them?

Comments

Slowly but surely, Team Obama are implementing the Changes that we need!

It is a fact that the Party of No and Fear are unable to govern and when one does try to Govern and accomplish things for the American people like healthcare, raising the minimum wage or continuing unemployment benefits, they continue to "huff and puff" and spew fear in the air in hopes that people will continue to stay depressed and afraid thereby immobilizing and paralyzing them to do anything at all. Now the GOP are huffing and puffing about the Obama Decesion of having the terrorists being tried in open court in New York. Of course, we should bring these men to Justice, this should have been done a long time ago. Some of us know that ("Saturn is in Libra, the significator of fair trials and justice." - Colloboratewithblogspot.com) so this is a perfect time for justice to reign.

It may be also that the GOP are just angry amd embarassed that they could not accomplish this very basic task of holding these terrorists accountable for their acts! I would not even be surprised if Team Obama finds Bin Laden, something Bush & Co. were also incapable of doing. Would this anger the GOP too? Probably!

As far as Obama bowing to the Japanese the Bible teaches us in Matthew 20:26 "It is not this way among you, but whoever wishes to become great among you shall be your servant." by those standards, President Obama is a great man.

(Important wake-up video, check it out and forward if you too think that it is important for people to know. The Calling - kewego)

Posted by: wdsoulplane | November 18, 2009 7:53 AM | Report abuse

Obama/Biden's www.recovery.gov site is reporting a 20% inflated number, at least, in "jobs created + jobs saved". Included, for example, are numbers from Arizona's 15th Congressional District. Last we knew Arizona had 8, not 15, Districts and the "15th Congressional District" was invented with a lie to boost the numbers. The "main stream media" finally is catching on as local news organizations check out further ficticious numbers.


"Trust me, I'm from the government".

ACORN likely will demand additional tax monies (out of your pocket) to do "Community Organizing" in the dozens of so far uncovered non-existant "Districts"

This morning's Las Vegas Review-Journal Editorial included this from SNL's parody:(Jon Lovitz portraying a typical D.C. Congressman) "Uh, it will create or save 3 million to 4 million jobs. Er, 1 million jobs. I mean, it will create or save 650,000 jobs. Yeah, that's the ticket!"

Investigations of stimulus contracts show wild exaggerations of the legislation's effect. Beyond guaranteeing the full salaries and benefits of tens of thousands of state government workers, the stimulus spree has done next to nothing to jump-start the economy. Which is why the president now plans to hold an "unemployment summit" that, thankfully, won't require the spending of billions more dollars.

And we're supposed to believe health care "reform" will be different.

Yeah, that's the ticket!

Posted by: tucanofulano | November 17, 2009 3:37 PM | Report abuse

Hey Obozzo - let me send you the address where you need to start your "investigation":

US Congress Building
E Capitol St NE & 1st St NE
Washington, DC 20001

Bring a sh!t load of handcuffs and lots of hankies as these whiners will be crying their eyes out as you cart their thieving azzzzez off to jail.

Posted by: Bcamp55 | November 17, 2009 3:30 PM | Report abuse

For that to happen you'd have to re-create the movie "Escape from New York" into a reality.

Posted by: steveherb | November 17, 2009 1:52 PM | Report abuse

I think Obama needs to begin by looking at all his own policies that he wants to shove down our throats. At the size of the health care bill you know it full of fraud, higher taxes for all, and rationing. When has Obama ever told us the truth?

Posted by: 45upnorth | November 17, 2009 1:15 PM | Report abuse

If Obama really wanted to fight financial crime, this is all he would have to do to begin the process:

1. order an audit of the federal reserve today.

2. order investigations of his top advisers, including Larry Summers, Timothy Geithner, Ben Barnanke, Robert Zoellick, Eric Holder, etc.

Posted by: mock1ngb1rd | November 17, 2009 12:45 PM | Report abuse

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