Create Foundation to Sue for return of Bonuses

The federal government is not going to get ill-gotten bonuses back. The investment bankers who got the bonuses bought Obama just as they have purchased his predecessors. Much of the bonus money was clearly based on phony profit projections. It took two or more people to create the fiction of profit. This is a basis for a conspiracy. We are not likely to win a conspiracy conviction in court as felonies are hard to prove and the federal judges are likely connected to the profiteers. Civil court suits showing the conspiracy have a better chance. Shareholders can bring the suits. The trick is to accumulate enough money to develop the strategy. The strategy needs to set the precedent that can be re-used against bonus profiteers one company at a time. Start with the bonuses for paper profits related to collateralized mortgages. The profits were based on accounting tricks, not actual revenues exceeding expenditures over time. The conspiracy involves the investment bankers, bond counsel, and others creating the fiction that the projected default rate on sub-prime mortages would be no greater than for conventional loans. In every other type of loan they readily agreed that higher interest rates were based on higher risk. But for some reason liar loans and 100 percent loans were not going to have more risk even though they had higher interest rates. The higher interest rates were the source of the projected higher profits over time on which bonuses could be justified today. Yep, take the bonus today for a projected profit that will occur in the future on a higher loan rate for a loan that isn't going to have a higher default than conventional loans. The conspiracy in this wink from the credit rating agency to the bond counsel to the investment banker is obvious. But someone with deep pockets needs to step forward, file suit, and win a court case. The victory will allow return of the profits from the lawyers, the accountants, and the individuals who pocketed the bonus checks.
Had such an effort to challenge preposterous assertions hidden in acccounting fiction occured ten years ago, we might have avoided some of the dot com disasters. The same tricksters were at work then as well: the bond counsel, the investment bankers, and the accounting firms.