It looks like we have some corrupt politicians involved in the Wall Street Gate Scandal that caused our stock market to crash.   I uploaded this video to youtube and wrote the accompanying blog post Credit Default Scandal Revealed.

Lou Dobbs reported last night that the FBI is currently investigating fraud on Wall Street that has caused taxpayers trillions of dollars as a result of a letter sent to the FBI by Congress last Friday. The report said “In fiscal year 2003, the FBI had 436 pending mortgage fraud cases. Today there are more than triple that number, more than 1,400 cases. The FBI is also looking into Fannie Mae, Freddie Mac, AIG and Lehman Brothers. At a recent hearing FBI Director Mueller said the bureau will investigate corporate excesses as it did during the savings and loan crisis. ”

Lou Dobbs further reported that Congressman MARK KIRK sent a letter on Friday October 10th, 2008 to the Robert Mueller of the FBI requesting that the FBI investigate the Stock Market Fraud and the FBI responded saying doesn’t have enough resources to investigate the fraud.   The Illinois Republic representative said the “FBI has only 260 agents, I think, is inadequate given the opportunities that criminals have had in the last couple of months. With the enormous drop in the market, it’s clearly a signal that a number of things were concealed from small investors and pension funds.”

I find it odd that it was sent Friday and its just now making News today.  In any case we need to send a strong message to Congress that that kind of attitude will not be tolerated. Claiming that the FBI doesn’t have the resources to investigate this is unnacceptable.

CNN Reported that among the areas of being investigated for the Stock Market Crash of 2008 are “accounting fraud, failure to report, and potential market manipulation. With the stock market down 18 percent in one week alone people want answers.”

CNN reported the FBI responded to the congressional letter saying it would hire more agents if it had more money from Congress saying, quote, “our field offices have been working fraud cases diligently over the last years. We can always use more resources for our programs”, end quote, so clearly putting the ball back in Congress’ court.

I have been spreading the word about the Wall Street Gate scandal since I put the pieces of the puzzle together. I have made several blog posts including  Wall Street Gate Scandal. I have made comments on other people’s blogs as well as posted videos on allover the internet including yahoo, metacafe, myspace, youtube.

I have also contacted CNN, MSNBC, News Busters, and Market Watch urging them to push the issue to go after the crooks who have been running this scandal. I am glad to see that calls for this investigation of the Wall Street Gate Scandal is now being paid attention to.

Wall Street Gate is an insurance fraud scam that Wall Street Insiders have been running and has derailed our financial system.  Wall Street insiders put our nations financial institutions at risk selling over $60 trillion in insurance, also known as credit efault swaps, that protects against credit rating cuts. They then worked with hedge fund managers to manipulate the market and crash the prices of stocks so they could collect insurance claims on the credit default swaps.

The fraud is still happening now. Investigators have not yet put together the puzzle and are still unaware of the full details of this insurance fraud scam.

Wall Street Gate Scandal Investigation Petition

SIGN THE PETITION TODAY. DEMAND CONGRESS TAKES THE NECESSARY ACTION SI THESE ATROCITIES ARE FULLY INVESTIGATED AND PROSECUTED.
http://www.petitiononline.com/WSGSINVG/petition.html