MuskogeePhoenix.com, Muskogee, OK

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November 3, 2009

THE PEOPLE SPEAK: Documentary exposes fraud at root of trouble



The last week’s OETA “Front Line“ documentary called “The Warning” on the background of our current economic crisis made it very clear to me that everyone needs to write their newspaper, the White House and Congress demanding drastic changes in the regulation of Wall Street and the financial markets.

The overt allowing of fraud in the national and international financial markets by former Fed Chairman Alan Greenspan and public and private financial leaders should be immediately investigated and prosecuted to see to it such policies are never permitted again.

I have followed the increasing risk to the U. S. economy since before former President Richard Nixon took our currency off the gold standard.

Even though not bad in and of itself, it opened the economy to extreme risk if left in the hands of dogmatically misinformed or corrupt leaders.

While we were worrying about socialist infiltration, Greenspan and his disciples of an abstract imaginary market, who believed they could correct all public and private fraud, led us over the cliff.

Unfortunately, when Congress had a chance to prevent the crisis, the same leaders were more interested in campaign contributions than the welfare of our country.

The Front Line program documented and personalized the way public and private financial officials demonized their critics and pressured Congress to ignore any need for action. Based on last week’s news about curbing the abuse on Wall Street, they are in the process of doing it again.

After reviewing the OETA documentary, I recommend everyone write their congressman and refer them to the DVD that is on the OETA website.

L. V. Watkins

Muskogee

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