The Barbarian's at the gate.....The notorious Hal Turner issues a threat on his blog...Return the money or else....
This is mentioned by the market trader and financial activist Karl Denninger...that it is time for the USGOV to act.....
Karl Denninger's Blog
Click the Link
US Government must act Now
"Yesterday I wrote a letter to a number of House and Senate Committees, well-aware that the Congress is in recess. The impetus was learning that Congress intends to hold committee hearings on derivatives (gee, nice to have a hearing about closing the door after all the horses are gone!)
One of the key themes of that communication was that The American People are losing faith in government as a protector and arbiter of fair play and enforcement of the law - and that down this road lay severe, perhaps even critical danger for our republic"
"But then yesterday afternoon, I read the following:
A senior federal banking regulator has been removed from his job after government investigators concluded that he knowingly permitted IndyMac Bancorp to present a misleading picture of its financial health in a federal filing only months before the California thrift was seized by regulators.
The Office of Thrift Supervision removed Darrel Dochow as director of its western region, where he was responsible for regulating several of the largest banks that failed or were sold in the past year, including Washington Mutual, Countrywide Financial, IndyMac and Downey Savings and Loan.
Dochow allowed IndyMac to count money it got in May in a report describing its financial condition at the end of March, according to an investigation by the Treasury Department's inspector general, Eric Thorson, which was described in a letter from Thorson."
"Now of course these are allegations at this point in time - but they are extraordinarily serious allegations. They join the list of dozens of other, similarly-serious allegations that have been raised over the last year and a half - and yet where are the official investigations, grand juries, and indictments?
Then last evening a topic was posted on my forum linking to one Hal Turner's blog, in which he said (this is not my speech - it is on the linked site - and yeah - its shocking):
linking to one Hal Turner's blog
Warning to Bank Executives
WARNING TO BANKING EXECUTIVES: If you do not return the bonuses, stock options and country club memberships bought with taxpayer bailout money, YOUR NAME AND ADDRESS will be made public in a manner designed to "incite" a reaction by the public. (Special emphasis on the word "incite!)
You have until Friday, December 26, 2008 to return the money. There will be no negotiating, no obeying of court orders of protection, no way to prevent being dealt with harshly.
I don't care about your employment contracts, I don't care about your civil rights and I sure as **** don't care about the law or the courts.
You guys have ****ed this country for the last time. It's time for you to be paid back and I intend to see that you receive your payback.
Karl Denninger continues......
I don't like this one bit, it is way beyond "polite discourse" (and IMHO quite possibly into a realm that one should not cross) but it is entirely predictable, and unfortunately, is unlikely to be an isolated incident.
Why?"