THE FRAUD ACT 2006

Read http://www.opsi.gov.uk/acts/acts2006/en/ukpgaen_20060035_en_1

OH MY GOD!!

They are wide open to many violations of this act!

Terms used are; honesty, false representation, failing to disclose information (see my argument regarding FSMA 2000).

And how about this one; ABUSE OF POSITION!

Section 4: Fraud by abuse of position

20. Section 4 makes it an offence to commit a fraud by dishonestly abusing one's position. It applies in situations where the defendant has been put in a privileged position, and by virtue of this position is expected to safeguard another's financial interests or not act against those interests.

So if the banks have abused their priviliged position by creating a housing bubble in order to gamble the resulting debt instruments in derivatives AND THEN GAIN BY BAILOUTS, what is that?

Is that fraud?

I'm going to have a goooood think about that one.