Political Cortex: Brain Food for the Body Politic

"Frank Blaine of Home Depot got $71,188 in gross-ups on personal use of company aircraft, insurance premiums in the fiscal year ended February 1."

Financial Times on March 29 had a headline article telling about the murder of a chief executive.  Last September, the chief executive of an Italian auto parts factory in Northern India was killed by a rampaging mob after turmoil at the company.  

James Lamont wrote:

"A series of disputes broke out in 2007 involving the suspension, lockout and dismissal of workers and trainees."

There were complaints about working very long hours, lockouts and suspensions and some say Lalit Kishore Chaudhary had even become close to local gangsters.

The chief executive was the victim of a rampaging mob that eventually hammered him to death.

One U.S. chief executive's apparent suicide was reported by the Wall Street Journal April 23.  James Hagerty and T.W. Farnam wrote from Vienna, Virginia:

"Authorities recovered the body Wednesday of Freddie Mac's acting chief financial officer after the apparent suicide in the home he shared with his wife and young daughter.

"David B. Kellerman, who had worked 16 years at the ailing mortgage giant, was described by his colleagues as popular, jovial and upbeat.  But some said he recently appeared stressed and overwhelmed by the job.  'He worked himself into a frazzle,' a former co-worker said.

"Colleagues said Mr. Kellerman was involved in dealing with investigations into Freddie's accounting by the Justice Department and the Securities and Exchange Commission."

With over 50 percent of mortgages in the U.S. going through Freddie Mac and the current economic collapse worldwide dealing with mortgage loans being given to high-risk borrowers defaulting all over the U.S., an in-depth investigation of Freddie Mac is long overdue.

Almost every day more fraud con-artist stories continue to tarnish the American financial scene.  The Wall Street Journal in an April 23 article by Chad Bray bore the headline "TWO INDICTED ON CHARGES TIED TO FRAUD."

Bray stated:

"James Nicholson of Saddle River, New Jersey, who was president and sole managing member of money management firm Westgate Capital Management was charged with securities fraud, investment-adviser fraud, bank fraud and improper structuring on withdrawal.

"Prosecutors say Mr. Nicholson falsely represented to investors that Westgate funds had as much as $900 millions in assets.

"The government is seeking $150 million in forfeiture and properties in the Hamptons on Long Island, Palm Beach, Florida and New Jersey.  The forfeiture also includes a personal seat license for New York Jets tickets at the new stadium.

"Nicholas Cosmo, owner and president of Agape World Inc., and Agape Merchant Advance LLC, was charged with a 32 count indictment with mail fraud and wire fraud.

"When Mr. Cosmo was originally arrested in January, prosecutors described the alleged scheme as a $370 million fraud."

Americans used to be concerned only with muggings and robberies in dark alleys during early morning hours.

Now in broad daylight they must be concerned with being taken in by investment counselors and shysters misusing banks and Wall Street.