Why isn’t the student the house banking chair? Why? No really, WHY??? Many reasons? Starting with, he’s not a gangster?

But what i came to say was that Jim Cramer, again this week, made another (i think about the fifth major) impassioned plea that a special prosecuter look into the entire affair, soup to nuts, and indict some people. Cramer i think knows who they are and I’m sure that by this time, so does the FBI –it’s whoever is on the known end of certain of those seven billion phantom shares resting in the DTCC in Manhattan. specifically the naked shorters that knocked the banks down 70% at ten times normal short volumes in the half dozen trading days leading up to Lehman Bro’s sudden banckruptcy on Sept 15. Lehman Bros’ golden-parachuted-early-on CEO Dick Fuld was mentioned by name in Cramer’s latest rant so we’re edging closer to knowing what really happened. Meanwhile, take a quick once over at these search terms –remembering that the panic commenced when the Treasury & Fed refused (on markedly specious terms) to do what they had proactively led the financial world to believe they would do, that is, bail out Lehman.

And now here we are, with 500 TARP banks about to have their USG-held preferred shares converted by fiat to [voting] common, teetering on the razor’s edge of the Communist Manifesto demand #5: state ownership of credit.