Investigate the takeover of Metropolitan Media Group/Great Waters Media. Petters just swept in and took it. What a botched transaction. Petters' people keep saying it was "an asset sale" so that they won't have to pay any company debt. But when pressed for documentation, their lawyers won't show proof. Petters ruined the careers of many people by stealing this company and stripping it down. He didn't pay a cent for it--just foreclosed on his investment. Bet that $5M investment was dirty money. And, he tried to stiff vendors and workers. This guy never cared about anyone but himself. And now, I have to wonder how legal that takeover really was.

Each entity has a fiduciary duty to itself. If solvent, sell - if insolvent a Bankruptcy petition is a requisite. If the Creditors, Banks, Hedge Funds, etc. do not get together and make such happen a fleecing is the obvious end result. Nothing against Mr. Kelly, but, our company was always hired to keep things kosher and this dealing - with Petters employees and management saying it is O K - is highly specious....... There is a rush to bury all of this before the Election transpires and new personnel are appointed. Pay attention to the History of eToys - they will utilize pretense, arbitrary & capricious reasoning with "color of law" application as a formula that nets those materially adverse harmed to wind up with Zilch!!!! Follow the money, the Star Tribune and other entities should follow the details of this investigation closely.... Do not get snowed by Court receivers and Bankruptcy sharks who say Tough - it is our "Court" now..... If the people have an independent special prosecutor - there is much good that can be done here to fix the Criminality and Corruption - they got away with it (thus far) in DEALaware - don't let it happen here - they utilize Time against You! http://fraud-corruption-mnat.blogtownhall.com/

It seems that the Twin Cities has made the big time with its own world-class crook. Who would have thought it?

The more we learn, the more we see just how many people were and are affected by Tom Petters' greed and lack of personal integrity. In addition to the investors he robbed, how many employees, many of whom may well live paycheck to paycheck, has he hurt? I feel for the investors, but I feel more deeply for the innocent employees who are now losing their jobs. I'm not sure if there's really a heaven and a hell, but if there is, I think we all know where Petters will end up. I hope he is sitting in his little cell, tormented by fear and sick with worry. I expect soon we'll hear he's declared himself "addicted" to something and will try to cut a deal for rehab to avoid going to prison which is where he belongs....forever!

Petters arrest should serve as a warning to people in the financial community who may have committed crimes relating to the financial collapse on Wall Street. To put it bluntly... if you did something wrong, NOW is the time to flee the USA to a foreign country which has no extradition treaty with the USA. It's only a matter of time before the feds catch up to you. Spend the rest of your life on a beautiful warm sunny beach surrounded by beautiful young women.. rather than spending time in a stinking, federal prison cell.

As if the unemployment rate isn't high enough. Most of the layoffs will be bestowed on employees who really had no idea they were working for a crook. Now, they have to add Petters Group to their resume when searching for other employment. Good luck to all of them!

Polaroid was not doing well enough to get this kind of bonus.... the politicains gave there money back and so should you it might just save your career.... the half million in a base salary was not enough .. but the feds have this in there affadavit this PR campaign will not save you or any of the others that took large bonuses that never made any sense read the comment on the professer from the U

Wow, Now what do I do? I just bought a new Polaroid TV and I was supposed to fly to Vegas on Sun Country to give it to my investment broker who got me this sweet investment deal on this Petters company??????????????

REVOLUTION!

Ah! It couldn't have been said any better by Mr. Warren Zevon (RIP)!