they don't need another law just to punish the AIG guys, you know why?

Because there's already a ton of law on the books about illegal conveyance. You know, the laws that prevent you from putting your house in your wife's name if you're about to lose a major lawsuit, and that kind of thing. The AIG guys knew they were in trouble when those contracts were drafted, and I expect some sharp criminal lawyers could pretty easily have gone after them on the grounds of conveyance and that'd be that..."

It should be investigated by a federal grand jury. Who induced the creation of derivatives which were nothing more than illegal insurance? Who decided on the plan to evade insurance regulations by superficial changes in wording? Who decided to issue such contracts without ability to perform (adequate reserves)? Which counterparties were guilty of over reaching and undue influence in the drafting of the policies. Which of the counterparties engaged in illegal naked short selling to trigger the execution of derivatives in their favor? Why did AIG and other institutions violate sound fiduciary principles in their investment practices?

Just what is the US Attorney General doing? Is he an ostrich or a prosecutor? Is he going to defend the US taxpayer or deliver him to the vampires gorging as Obama appears on entertainment programs and Bernanke, Geithner and Summers go on with their fraud?

If you want to shorten the depression and avoid a ten year collapse

Nationalize the money centers.

Ban unethical derivatives.

Ban naked short selling.

Fire Geithner and Summers.

No federal funds for tertiary derivatives with no underlying insurable interest in the counterparty.

Prosecute the wrongdoers.

http://en.wikipedia.org/wiki/Racketeer_Influenced_and_Corrupt_Organizations_Act

Under the law, racketeering activity means:

* Any violation of state statutes against gambling, murder, kidnapping, arson, robbery, bribery, extortion, dealing in obscene matter, or dealing in a controlled substance or listed chemical (as defined in the Controlled Substances Act);
* Any act of bribery, counterfeiting, theft, embezzlement, fraud, dealing in obscene matter, obstruction of justice, slavery, racketeering, gambling, money laundering, commission of murder-for-hire, and several other offenses covered under the Federal criminal code (Title 18);
* Embezzlement of union funds;
* Bankruptcy or securities fraud;
* Drug trafficking;
* Money laundering and related offenses;
* Bringing in, aiding or assisting aliens in illegally entering the country (if the action was for financial gain);
* Acts of terrorism.

I really don't think it is a stretch to say that they bribed, extorted, stole and committed fraud against the people of this country.

There is absolutely NO reason that we can't prosecute these thugs under these laws. None. In fact, you could get their bonuses, their bank accounts, and their personal property since they are ALL ill-gained goods.