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Group:
Someone was kind enough to scan a letter I will be posting to the
group. Feel free to quote or use this letter in any form you like if you
wish to create additional attention and publicity to the problem. I have
already sent copies to all recipients noted in the letter. I am a lone
voice but perhaps if there were 17,000 letters sent to one address? I am
told that the Chicago Tribune would like to make this into a national story
but only time will tell.
I learned that the FBI is going to confiscate the yact of one of the
alleged purps'; but all this is not going to do very much to make us
financially whole. A legal precedent exists where the liquidators
and depositors brought suit against the S&L counterpart of the
FDIC and I will be exploring that possibility in an attempt to locate
the attornies who were involved. They received an award and this is
supposedly the only case on record in which regulators were successfully
sued. It would appear that the auditors also have
potential liability. Of course if the lawyers got rich and the claim-
ents got 10 cents on the dollar then forget it. Although this looks like
a strong case; I know little or nothing about the law and these matters.
Please also note that my letter is nothing more than a compilation
of the excellent ideas from e-mails posted by others. I simply syn-
thesized them into my own words; to express my thoughts and
feelings about the matter.
Chas
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