FDIC seizure of WM and the attempt to seize WB for City

I am fired up after researching the latest actions of the FDIC.  I sent the following email to the FDIC:

Dear Manager of the FDIC,

As a former accountant and long-standing member of the National Association of Accountants, I am writing to give you my impression of what you are reflecting with your actions on the subject companies.

Washington Mutual was seized and given to JP Morgan for $1.9B.  WM had more in cash than that.  JP was given this company.  How can you rationalize this transaction?  Now WM is attempting to retrieve their $5B in cash from JP through bankruptcy court.

Then today with Wells Fargo offering $15B for Wachovia after your attempt to seize it and sell it to Citi for $2B, it is clear that there is no objectivity in your organization.  Now Citi is saying that Wells Fargo cannot purchase Wachovia because they have 'exclusivity' from the FDIC.  I think that there is collusion going on between the FDIC and the benefiting companies.  This is anti-capitalism and certainly not democratic.  I am questioning the legality of your actions.

Please respond to this email and let me know what your view is.  I intend to pursue what I have written here.  There is an abuse of power on part of your organization.  Thank you in advance for your time.  Sincerely, Shirley R. Tamez

I also sent a copy to Wolf Blitzer at CNN, Bill O'Reilly, and Rush Limbaugh to see if I can get this information out into the open in a way where it will be publicized to the mainstream.

One other area that alarms me is with the Financial Accounting Standards Board (FASB). I consider them the backbone of this financial system that this country uses.  Wall Street pressed Congress to ease a FASB rule that deals with valuing assets at current market value.  This was included the bailout bill that was passed by Senate and House.  It gives the SEC authority to suspend the mark-to-market accounting.  It's  a fair-value accounting standard and changing the rule allows companies to obscure the true market value of their assets.  In the 1990s, the FASB wanted to force companies to expense the millions of stock-options on their books that they were issuing to employees.  Big muscle pressure forced them to back down.  10 years later, following the collapse of Enron and Worldcom, this ruling was put in place.  Allowing Congress to yield to these companies who want to revalue their assets takes away from the authenticity and reality of our financial system.  This organization is critical to ensuring that those who have self-interests are not allowed to obscure or distort financial information in their favor.  As you can see from the examples, this group provides what a C.P.A. firm does, but on a much larger scale in that the FASB originates the rules, while the former ensures they are followed.  I see this as a signpost of the unraveling of our capitalistic society because Congress is influenced by the few and is not looking out for the majority.