Why hasn't the SEC already said that any bank which puts assets into the pool, or whatever it will be called, at other than market prices, will immediately be investigated for securities fraud? Is our, yes our, not Wall Street's, Hank Paulson (HP) attempting to aid and abet securities fraud? Is that what HP is doing? Where's the Justice Department? Is it too busy prosecuting nickel and dime marijuana possession cases? If anyone doubts why investors need Stoneridge to go in their favor, look at this mess and Uncle Sam's position as articulated by HP.
Noriel Roubini (NR), a New York University Economics Professor, has the best analysis of the proposed SIV rescue plan I've seen yet, "Super-Conduit or Super-Bailout Shell Game"?, 15 October, at http://www.rgemonitor.com/. I commend NR. I couldn't have written anything better.