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As I explained in an earlier commentary, I believe that the real culprits in the current credit crises are the financial companies.

Their actions in creating and using CDS (credit default swaps) and in essence “cooking their books” appears at least dishonest. The federal government has no law regulating CDS but the intention of the law requiring capital reserves to support loans to corporations and governments is clear and CDS does not meet the spirit of that law.

Conservative politicians learned to believe that the private sector was the best solution to many of our problems. They believed our capitalistic system could self-regulate and could be trusted. Republicans assumed it is in the best interests of corporations to keep our country safe and profitable. These big business executives violated that trust. Since the average American can not create their own economy, we must trust business as well. Business has violated the trust of the American people.

An investigation is clearly needed, and if, as I believe, executives of big business violated the people’s trust for their own financial gain, they should be prosecuted.