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Jakarta Post

What Asia and the world need from America now

  • Tom Plate

    Beverly Hills

California   /   Sat, March 28 2009   /  01:29 pm

What the American governing and legal establishment must do, before too much time goes by, is to come completely clean not only with the American people but with Asia, especially, which has poured so much of its wealth into the US China and Japan are its biggest financial investors. Everyone needs to know what really happened and who should be held accountable for the raw criminality behind the scenes. The US needs to come clean by devising a wide-ranging - but fair -- criminal investigation of hedge-fund leaders and managers, derivatives sales groups and their allies, and of course any and all Ponzi-schemers that have defrauded people of their life savings. We don't need a visceral witch-hunt; we require fair and honest accounting. What's at stake is not so much an eventual honest return on investments (which, in many instances, may be impossible, as many funds have vapo...