Opinion: No top executives in prison five years after the crisis
.. United States District Court Judge Jed S. Rakoff titled “The Financial Crisis: Why have no high-level executives been prosecuted?”
The judge from Manhattan tallies the victims in his first paragraph: “Millions of Americans leading lives of quiet desperation: without jobs, without resources, without hope.”
..
Millions of victims and no perps. Seeking justice in America is like making a 911 call in Detroit. You phone to report a fire, or a crime in progress, and maybe someone responds … or maybe they don’t.
The Federal Bureau of Investigation was just too busy chasing terrorists following 9/11 to bother with suspicions of systemic white-collar crime, Rakoff wrote.
The Department of Justice was so overwhelmed that it passed the task of mortgage and securities fraud onto prosecutors in its regional offices who likely did not have the experience to handle such complex cases, and did not produce results, he said.
The Securities and Exchange Commission, which was the primary agency that should have been investigating massive securities fraud, was too busy answering questions about why it missed a single crime perpetrated by Bernie Madoff.
The agency then spent the next five years prosecuting far smaller Ponzi schemes than Madoff’s and suing people for insider trading — because those cases are far easier to prove than the big ones, Rackoff said.
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Crooks fleeced America .. to the bone .. and .. as Volker said .. they in Palm Beach having Martini and laughing
Opinion: No top executives in prison five years after the crisis
.. United States District Court Judge Jed S. Rakoff titled “The Financial Crisis: Why have no high-level executives been prosecuted?”
The judge from Manhattan tallies the victims in his first paragraph: “Millions of Americans leading lives of quiet desperation: without jobs, without resources, without hope.”
..
Millions of victims and no perps. Seeking justice in America is like making a 911 call in Detroit. You phone to report a fire, or a crime in progress, and maybe someone responds … or maybe they don’t.
The Federal Bureau of Investigation was just too busy chasing terrorists following 9/11 to bother with suspicions of systemic white-collar crime, Rakoff wrote.
The Department of Justice was so overwhelmed that it passed the task of mortgage and securities fraud onto prosecutors in its regional offices who likely did not have the experience to handle such complex cases, and did not produce results, he said.
The Securities and Exchange Commission, which was the primary agency that should have been investigating massive securities fraud, was too busy answering questions about why it missed a single crime perpetrated by Bernie Madoff.
The agency then spent the next five years prosecuting far smaller Ponzi schemes than Madoff’s and suing people for insider trading — because those cases are far easier to prove than the big ones, Rackoff said.
.
Crooks fleeced America .. to the bone .. and .. as Volker said .. they in Palm Beach having Martini and laughing
.
Make no mistake Obama let his friends off the hook in exchange for supporting him in 2008
"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros
