We all remember the Enron and WorldCom end, but do we remember that Citigroup and JP Morgan Chase banks were fined close to $300 million by the SEC for their invlovement with Enron? In addition Citigroup paid a additional $1.66 billion to Enrons recovery fund. Now we find out that Citigroup and JP Morgan Chase are on the list of 8 banks to get $250 billion in Federal funds as part of the bailout plan. Yes, here we go again, saving the very institutions that played a hand in world investors losing trillions. In the meantime as posted earlier, AIG execs enjoy living like kings at our expense. The point? How many times do we look the other way and never learn? Free enterprise does not work without being regulated and closely watched. The current financial crisis will pass and we will survive. The question is where do we go from here? I deeply trust it will not be to repeat the errors of the past. We will see. I remember a famous Thomas Jefferson Quote:

"God forbid we should ever be twenty years without such a rebellion.
The people cannot be all, and always, well informed. The part which is
wrong will be discontented, in proportion to the importance of the facts
they misconceive. If they remain quiet under such misconceptions,
it is lethargy, the forerunner of death to the public liberty. ...
And what country can preserve its liberties, if it's rulers are not
warned from time to time, that this people preserve the spirit of
resistance? Let them take arms. The remedy is to set them right as
to the facts, pardon and pacify them. What signify a few lives lost
in a century or two? The tree of liberty must be refreshed from
time to time, with the blood of patriots and tyrants.
It is its natural manure."

Let us pray that those to have we entrusted this country to will remember the principles to which it was founded and restore our pride and dignity. I hope there will be a time for flag waving again, but it is not now.

America wake up!!!! God bless this country, we need it. TKS for reading

http://www.nytimes.com/2008/03/27/business/27enron.html?ref=business
http://www.sec.gov/news/press/2003-87.htm
http://edition.cnn.com/2008/BUSINESS/10/14/world.markets/index.html