2009-11-30T06:15:26Z opencongress.org tag:opencongress.org,2007:/bill/comments/54854 2009-11-30T06:15:26Z tag:opencongress.org,2009-11-30:/comment/173202 InproperinLA The Sarbanes-Oxley Act (2002), Emergency Economic Stabilization Act (2008) & FERA(2009)would make no difference whatsoever, as long as FBI, banking regulators, and U.S. courts refuse to enforce the law on major financial institutions [1]. This note is forwarded from Los Angeles County, California, the "epicenter of the epidemic of real estate and mortgage fraud", and home to a justice system, which "tolerated a subcult of criminality in its ranks".[2] In short - we need U.S. Congress to focus its efforts on more oversight, less legislation. [1] Responses by Kenneth Kaiser (FBI) and Kenneth Melson (USDOJ)to U.S. Congress (2008), deemed fraud and deceit: http://inproperinla.com/08-09-08-congressional-assistance-s.pdf; [2] Blue Ribbon Review Panel Report (2006); http://inproperinla.com/00-00-00-rampart-blue-ribbon-review-panel-2006-report.pdf 2009-05-05T08:53:16Z tag:opencongress.org,2009-05-05:/comment/105531 snydes45 The laws are not insufficient. What you mean is that enforcement is insufficient. The current laws were sufficient for Lay, Skilling, Milkens and Madoff. Your suggestion of a 120% reimbursement is a punishment not an insufficient law. The proposed law will only provide extra hoops and obstacles for honest businessmen to follow and the liars and cheats will continue to disobey. Notice that all of these probes happen after a huge downturn in the economy. It never happens during a boom. Because government doesn't want to bother then, and that is the time that is worst for law breaking and fraud. This law is nothing but a show so that congressmen can use it to say "I was tough on the financial system". 2009-05-06T16:57:17Z tag:opencongress.org,2009-05-06:/comment/105774 cfitzgerald17 At the end of the day, does it matter that the congressmen are able to say "I was tough on the financial system" or that fraudsters are caught and the taxpayer is made whole? 2009-03-26T10:14:37Z tag:opencongress.org,2009-03-26:/comment/98546 Patriot1949 The American republic already has Fraud Laws and our Judicial system is to enforce those laws. Increasing American Republic taxes to support this legislation for Laws already in existence has not merit. Total up the millions of dollars for this legislation compared to the total collection of acts of fraud. Total collections will not cover the total cost thus the American Republic will be loosing money during our current economy problems. America’s current and past companies bought about the current economy problems. Act of Fraud was committed, no collections were made to cover the cost and the American taxes payers have to pay the bail out cost. Some of these acts of fraud that affected America’s economy SHOULD HAVE BEEN CHARGED WITH TREASON BECAUSED IT AFFECTED TO COMPLETE NATION. 2009-04-28T15:08:40Z tag:opencongress.org,2009-04-28:/comment/104630 DeanGoss In my opinion, the current laws governing fraud have proven insufficient to deter manipulation, deceit and outright theft. Whether a Ponzi scheme, a bait and switch scheme, or simple theft of services, perpetrators are doing it because they CAN. I wonder if a strict formula of reimbursement above and beyond the amount fraudulently obtained would serve as a deterrent, perhaps a 120% reimbursement. It would guarantee that the Lays, Skillings, Madoffs, Milkens as well as the various minor league charlatans would lose more than they could have made. Their actions are a slap in the face to everyone who shows up and offers an honest day's work. 2011-03-06T07:30:49Z tag:opencongress.org,2011-03-06:/comment/229494 aross testes. 2009-07-05T10:13:33Z tag:opencongress.org,2009-07-05:/comment/112227 Bud9342 I TOTALLY agree. Our "Representatives" are sure failing to represent us, so must be themsleves and their buddies. Perhaps if there are enough people with common sense voting in the next election they will see we are fed up with this. 2009-05-06T19:17:14Z tag:opencongress.org,2009-05-06:/comment/105788 thecat If this law is passed to investigate fraud, the first areas that should be investigated would need to be the Senate and the House of Representatives. They are committing the largest fraud against the American people since the pilgrims stepped off the first ships. They're pretending to help "the people", when they are only trying to help themselves and gloat over the fact that the Democrats "won". The American people have LOST. All semblance of reason has disappeared, which no hope of coming back with this administration. BO and the rest of the Democratic Party must harbour immense hate for the American people. We would need to build a very large prison to house all the financial crooks associated with the present administration. 2011-03-06T07:31:02Z tag:opencongress.org,2011-03-06:/comment/229495 aross ugh what?