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Will Wall Street Ever Face Justice?
New York Times ^ | 03/02/2012 | Phil Angelides

Posted on 03/02/2012 6:51:36 AM PST by SeekAndFind

LAST week, Attorney General Eric H. Holder Jr. proclaimed in a speech that when it comes to fighting financial fraud, the Obama administration’s “record of success has been nothing less than historic.” Such self-congratulation is not only premature, but it also reveals a troubling lack of understanding about what is required to win the war against financial wrongdoing.

Four years after the disintegration of the financial system, Americans have, rightfully, a gnawing feeling that justice has not been served. Claims of financial fraud against companies like Citigroup and Bank of America have been settled for pennies on the dollar, with no admission of wrongdoing. Executives who ran companies that made, packaged and sold trillions of dollars in toxic mortgages and mortgage-backed securities remain largely unscathed.

Meager resources have been applied to investigate the financial assault on our country, which wiped away trillions of dollars in household wealth and has resulted in 24 million people jobless or underemployed. The Financial Crisis Inquiry Commission, which Congress created to examine the full scope of the crisis, was given a budget of $9.8 million — roughly one-seventh of the budget of Oliver Stone’s “Wall Street: Money Never Sleeps.” The Senate Permanent Subcommittee on Investigations did its work on the financial crisis with only a dozen or so Congressional staff members.

Despite their limited budgets, both inquiries turned over rocks and exposed disturbing financial practices, and both entities referred potential violations of law to the Justice Department. The final reports from the two investigations were completed last year, but the resources that were needed to dig deep beneath those rocks — or the rocks turned over by private litigants or other investigatory efforts — weren’t mobilized.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: financialcrisis; justice; wallstreet

1 posted on 03/02/2012 6:51:45 AM PST by SeekAndFind
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To: SeekAndFind; Lurker; FromLori; azhenfud; Wolfie; UCFRoadWarrior; servantoftheservant; ...
No. Probably not.

Legislators are scrambling to make what was once illegal - PERFECTLY LEGAL

The Bankers are coming! The Bankers are coming! They are coming for YOU!

"What we are witnessing here folks, is a modern day Beer Hall Putsch. I'm not really sure if anything matters anymore; but the time to be heard is now. Florida is just the beginning of the end."

Senator Moura Steamed Over Chase Foreclosure Flunkies

"I have personally called and spoken with your staff. They are unprofessional, rude, use their power to frustrate callers, and do what they can to prohibit (instead of facilitate) meaningful resolution(s). If a State Senator is treated that way, I shudder to imagine how your customers and my constituents are treated. It's atrocious."

Senator Moura [R-RI] acts in good faith and allows Chase the whopping benefit of the doubt that Chase (or any alleged assigns) even posess legal standing to foreclose.

2 posted on 03/02/2012 7:02:17 AM PST by Chunga85 ("Foreclosure Fraud", TARP, "Fight Club Lawyer", Bailout)
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To: SeekAndFind
No one should seek or condone prosecutions for revenge...

Tell that to folks who were wiped out thanks to these crooks.

3 posted on 03/02/2012 7:29:58 AM PST by Roccus
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To: SeekAndFind

Yes, they will.

If not in this life, then in the next.

Like OJ Simpson.

I am able to take at least some small comfort in that.


4 posted on 03/02/2012 7:36:26 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: SeekAndFind
Claims of financial fraud against companies like Citigroup and Bank of America have been settled for pennies on the dollar, with no admission of wrongdoing.

In the case of Jefferson County, AL, several elected officials went to prison for accepting bribes in the financing of their sewer system (the financing of which ultimately drove the county into bankruptcy).

Nobody went to prison for offering those same bribes or was even, apparently, charged with the crime of "Offering a bribe".

Why not?

5 posted on 03/02/2012 7:42:37 AM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: DuncanWaring

RE: I am able to take at least some small comfort in that.

Many Americans don’t believe in hell (Only 59% do, Compared to 74% who believe in heaven ).

See here:

http://www.pewforum.org/Religion-News/Many-Americans-dont-believe-in-hell-but-what-about-pastors.aspx


6 posted on 03/02/2012 7:50:22 AM PST by SeekAndFind
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To: Chunga85
Hell even here on FR if left up to a certain group of FReepers the crimes of forgery, perjury and Fraud on the Court will be legal as long as someone they don't like gets punished.
7 posted on 03/02/2012 7:53:42 AM PST by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: SeekAndFind

This is rich coming from Phil Angelides, who did everything he could to make sure no Democrat would face any seriouos scrutiny before the Financial Crisis Inquiry Commission and that the fundamental role of Fannie and Freddie would not be addressed. Please, no more palaver from this partisan hack.


8 posted on 03/02/2012 7:54:32 AM PST by WashingtonSource
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To: SeekAndFind

Angelides is a billionaire real estate Marxist ObamaTard. He is blaming banks, the same banks that lent him money to get rich.

He is a parrot of the Liberal party line of the evil bankers and the poor, unfortunate people who, at gunpoint, had to take $600,000 in an 100% LTV loan with a 500 FICO score.


9 posted on 03/02/2012 7:58:23 AM PST by wac3rd (Somewhere in Hell, Ted Kennedy snickers.....)
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To: SeekAndFind

The more important question is:

Will Congress and other government officials ever face justice?


10 posted on 03/02/2012 8:04:42 AM PST by BwanaNdege (Man has often lost his way, but modern man has lost his address - Gilbert K. Chesterton)
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To: SeekAndFind

When there is a Presidential candidate they don’t own. Which is why they spend so much money furthering the media caricature of Ron Paul as America’s crazy uncle, attacking these fine capitalist men in Brioni suits. :)


11 posted on 03/02/2012 8:08:25 AM PST by Mr. Jeeves (CTRL-GALT-DELETE)
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To: SeekAndFind

“There’s no justice like Angry Mob Justice.”


12 posted on 03/02/2012 8:18:34 AM PST by running_dog_lackey
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To: Kartographer
That would be the contingent that claims, “They may be crooks, but they are our crooks.”

Actually, these financial crimes have nothing are a way to avoid capitalism and the rule of law, and moral character that makes it work. Someone put out a job description for global banking CEO’s that requires only psychopaths and megalomaniacs need apply.

13 posted on 03/02/2012 8:44:42 AM PST by SaraJohnson
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To: Kartographer

Not everyone here is actually who they appear to be.


14 posted on 03/02/2012 9:02:13 AM PST by Chunga85 ("Foreclosure Fraud", TARP, "Fight Club Lawyer", Bailout)
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To: Chunga85

I was listening to Glenn Beck yesterday and when commenting on the “foreclosure crisis” actually matter-of-factly mentioned getting paid for same loan twice ... I think he , unlike Rush Limbaugh , may actually discover the truth ,, probably too late ... but he actually does research...


15 posted on 03/02/2012 9:49:06 AM PST by Neidermeyer
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To: running_dog_lackey

“There’s no justice like Angry Mob Justice.”
*********************************************
suggested reading ... A Thief Can Steal A Home and The Coming Law of The Street http://mattweidnerlaw.com/blog/2012/02/a-thief-can-steal-a-home-and-the-coming-law-of-the-street/


16 posted on 03/02/2012 10:52:41 AM PST by Neidermeyer
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To: Roccus

Isn’t that the truth..

Never again will I trust government, the banks, fatcorps or Wall Street.


17 posted on 03/02/2012 6:53:38 PM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: SeekAndFind

Will Eric Holder ever face justice?

#EFAD


18 posted on 03/02/2012 7:00:47 PM PST by ctdonath2 ($1 meals: http://abuckaplate.blogspot.com/)
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To: SaraJohnson; Kartographer; Chunga85
... Someone put out a job description for global banking CEO’s that requires only psychopaths and megalomaniacs need apply.

In my experience, by the 1980's, in corporate America the pre-requisite to climbing the ladder was a consciencectomy.
19 posted on 03/16/2012 5:39:57 AM PDT by khelus
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To: khelus
"Will Wall Street Ever Face Justice?"

I haven't given up hope yet. The new roll of rope is still hanging out in the shed.
20 posted on 03/16/2012 7:26:24 AM PDT by Kartographer ("We mutually pledge to each other our lives, our fortunes and our sacred honor.")
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To: Kartographer

ROFL . . . If I had my druthers, two industries that would be booming would be the manufacture of rope and lamp posts.


21 posted on 03/16/2012 7:39:27 AM PDT by khelus
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