-- Posted by Alister at 7:24 pm on Nov. 30, 2008 you guys won't believe this, I found this while writing an essay, a lot of it my own mother didn't know about. heres an except from my essay. Another belief of the public is that the government officials are completely impartial and are trust worthy, that they would stand up for the rights of the people. There are however an astonishing number of economic scandals tied to government officials. Upon the authors search for scandals she found an except from an article on the web site http://www.primetimecrime.com/Recent/Greed Corruption/global_meltdown.htm. Regulators have been good for us WASHINGTON - In the midst of this late-September drama, the Treasury Department issued a five-sentence notice that attracted almost no public attention. But corporate tax lawyers quickly realized the enormous implications of the document: Administration officials had just given American banks a windfall of as much as $140 billion. (Paley, 2008) She clicked on the hyperlink to the full article which was on the MSNBC website, but found it mysteriously gone. She did however find it again in the archives of in the Washington Post. The article goes on to say that what the Treasury Department did was illegal, but they were to afraid to let the public know about this bail out because of the many bank mergers that had happened with the tax payer money; They were also concerned that the already plummeting market would plummet even more if this indiscretion was brought to the publics attention. All of this was caused by a sect of the US Government stealing from the people, and then honestly having the audacity to do it again, this time in the public eye. The head of the treasury department is Henry Paulson who was the CEO of Goldman Sachs, an investment banking and securities firm (Jackson, 2006.) On Friday November 28 Goldman Sachs won the New York Banking charter and relocated to New York under the name of Goldman Sachs Bank USA. The new bank has access to a lot of the $700 billion that is supposed to be spent on bailing out banks that are suffering. They ended market November 28, $2.49 at $78.99 ( Stemple, 2008.) This however is only to prove how connections in the government can create a catastrophe. -- Posted by Alister at 7:25 pm on Nov. 30, 2008 (citation, with websites) Jackson, David (2006) Bush turns to Wall Street for new Treasury chief. Retrieved November 26, 2008, from USA Today Web Site:http://www.usatoday.com/news/washington/2006-05-30-snow_x.htm Stempel, Jonathan (2008) Goldman Sachs wins NY state banking charter. Retrieved november 28, 2008, from Thomson Reuters Web Site:http://www.reuters.com/article/fundsFundsNews/idUSN2845074320081128 Paley, Amit J.(2008) A Quiet Windfall For U.S. Banks. Retrieved November 26, 2008, from The Washington Post Web Site:http://www.washingtonpost.com/wp-dyn/content/article/2008/11/09/AR2008110902155.html -- Posted by Vbby at 7:25 pm on Nov. 30, 2008 Im not reading this, Im on break! -- Posted by Alister at 7:26 pm on Nov. 30, 2008 Quote: from Vbby at 7:25 pm on Nov. 30, 2008 Im not reading this, Im on break! I'm writing this and I'm on break >.< -- Posted by Pagie1 at 7:27 pm on Nov. 30, 2008 wow now im tired!!!!!!!!!!!!!!! -- Posted by Jokerboy719 at 7:28 pm on Nov. 30, 2008 I don't have the patience to read all of this. I skimmed through it and got a premise of it. Wow those washington post people are stupid -- Posted by Alister at 7:32 pm on Nov. 30, 2008 Quote: from Jokerboy719 at 7:28 pm on Nov. 30, 2008 I don't have the patience to read all of this. I skimmed through it and got a premise of it.   Wow those washington post people are stupid thats okay, its the last paragraph thats acctually important. baisically  the head of the treasury dept. spent 140 billion dollars of taxpayers money on banks, illeagly before the bailout. he was also the ceo of a bank that is getting a lot of the money -- Posted by boy4boy15 at 8:18 pm on Nov. 30, 2008 I wish all the banks would fail. And the economy would tank. We need a new system because its obvious this one isn't working.