You can read the press release here. Visit The Derivative Project website here. There is a lot of information about the banks and about what kind of action is needed. There is also information on the role that Secretary of the Treasury Henry Paulson played in a "conflict of interest" situation when he decided to bail out Goldman Sachs via AIG.
May all the American people Rise Up and send the requests enumerated on that website to their representatives in Congress. This is action that everyone can participate in!
You can find your Congressional Representative here
Below is one of The Project's suggestions:
How To Prevent Another Financial Crisis and Collapse of Retirement Savings
- Commence a long overdue civil and criminal investigation to reverse the taxpayer payments of over $50 billion to U.S. and international banks for collateral calls for AIG over-the-counter derivative contracts, that were entered into fraudulently between AIG and other counter parties, including Goldman Sachs. Fine Goldman Sachs and then Secretary Henry Paulson for misrepresenting that AIG would collapse without the collateral call payments to Goldman Sachs. Goldman Sachs could have totally prevented the "crisis" with AIG by not demanding immediate delivery of the collateral by the U.S. taxpayer and sought an unwinding of the contracts.
- Revamping of FINRA and SEC and elimination of FINRA as Securities Law Enforcer
- SEC should monitor Investment Advisors, not the SRO FINRA
- Congress must pass a law enabling a right of private action for individual retirement investors for breach of fiduciary duty under the Investment Advisors Act of 1940.
You can read the rest of the document here