Federal Judge Hammers Justice Department for Not Prosecuting Wall Street Executives

Federal Judge Hammers Justice Department for Not Prosecuting Wall Street Executives

As the Justice Department has yet to prosecute ONE Wall Street Exec,
the statute of limitations has already expired on certain crimes while most other crimes will reach statute limits soon.

Even Holder said they are too big to prosecute (to paraphrase)

It's all coming together as planned.
Bill Black, assoc. Professor of economics and law at the University of Missouri, K.C. and former financial regulator and author tells it best.
(Link Above)

reply to post by imd12c4funn


Sad days we live in. If you break the law, you should be prosecuted.

by the same hand, if the law is not constitutional we should not be scared of it.

Funny how money can blur all those lines.

This just makes me sick! When will this madness end?!?

Frexmil2
This just makes me sick!

When will this madness end?!?

Not until WE end it.
One way or another, our "representatives" are pissing off a lot of people lately.

RedmoonMWC

Frexmil2
This just makes me sick!

When will this madness end?!?

Not until WE end it.
One way or another, our "representatives" are pissing off a lot of people lately.

And stupid people keep reelecting them.

There is no Justice in the Justice Department.
All the justice departed when Holder took over.
Won't prosecute for dead Border Patrol agents
Won't prosecute Fast and Furious
Won't prosecute Wall Street.

What the hell is he being paid for?

reply to post by Asktheanimals


I agree ATA. I agree 1000%. I won't even get all political and blame Obama here. Nope... Like you note, it isn't a President that decides to prosecute or ignore things. (I believe that's an issue itself if ever proven for influence/interference).

This is a social activist and determined shaper of social policy sitting in the office of top Law Enforcement for a major world power. He has no business whatsoever in a position relating to law enforcement because his own, publicly discussed agenda runs contrary to the very law he's sworn by position to uphold.

He can't enforce what he publicly refuses to touch ...and so HE should be prosecuted if he doesn't resign first.

Obama doing time in a prison may be a pipe dream and fantasy ...but HOLDER is a mere mortal man and can damn sure go down in a blazing prosecution when his protector is no longer above to save him. A few years ...and he has A LOT to worry about.

It's not just in the US though. Globally, these bankers and financiers are given a free pass, usually in the form of a "Deferred Prosecution Agreement", so it's all quite legal and dandy.
At the very most they agree the financial institution they work for will pay a fine, but that nobody admits any wrongdoing, thus nobody sees the inside of a court room and without any prosecution, they are of course not penalized in any way and allowed to continue working in that field. To add insult to injury, the large fines imposed are also largely written off as tax deductible.
Can you imagine any petty thief or fraudster being allowed such leniency? These people have destroyed the lives of Millions and ruined whole nations, yet still qualify for a large bonus at the end of the year.
What this does show though is exactly who runs the countries of the world, more so as this is not a national level problem but a global one as they operate on a global basis.

The rule of law means nothing if it is not upheld at every level of society, and what we are seeing quite clearly is that it is NOT being upheld, but is being suppressed in favour of those with the money under their control.
I saw a story the other day mentioning that the (if I remember correctly) deputy governor of the Bank of England was on the new years "honours" list, even though he was likely up to his eyeballs in the LIBOR scandal and close to the head of Barclays, implicated in the issue. How very "honourable" the piece of trash must be, but then, the honours system is all about rewarding loyalty to the system and protecting it. Getting caught in scandal and wrongdoing no longer means disgrace and ruin, as it should, but rewards and freedom to carry on as before. Makes me sick!

reply to post by imd12c4funn


Mind if I provide a couple additions to your OP? No? Good!

Judge Rakoff's essay in full - The Financial Crisis-Why Have No High-Level Executives Been Prosecuted?

Again, in the 1980s, the so-called savings-and-loan crisis, which again had some eerie parallels to more recent events, resulted in the successful criminal prosecution of more than eight hundred individuals, right up to Charles Keating. And again, the widespread accounting frauds of the 1990s, most vividly represented by Enron and WorldCom, led directly to the successful prosecution of such previously respected CEOs as Jeffrey Skilling and Bernie Ebbers.

But the stated opinion of those government entities asked to examine the financial crisis overall is not that no fraud was committed. Quite the contrary. For example, the Financial Crisis Inquiry Commission, in its final report, uses variants of the word “fraud” no fewer than 157 times in describing what led to the crisis, concluding that there was a “systemic breakdown,” not just in accountability, but also in ethical behavior.

LA Times Article on Rakoff's essay

six67seven
reply to post by imd12c4funn

 

Mind if I provide a couple additions to your OP? No? Good!

Judge Rakoff's essay in full - The Financial Crisis-Why Have No High-Level Executives Been Prosecuted?

Again, in the 1980s, the so-called savings-and-loan crisis, which again had some eerie parallels to more recent events, resulted in the successful criminal prosecution of more than eight hundred individuals, right up to Charles Keating. And again, the widespread accounting frauds of the 1990s, most vividly represented by Enron and WorldCom, led directly to the successful prosecution of such previously respected CEOs as Jeffrey Skilling and Bernie Ebbers.

But the stated opinion of those government entities asked to examine the financial crisis overall is not that no fraud was committed. Quite the contrary. For example, the Financial Crisis Inquiry Commission, in its final report, uses variants of the word “fraud” no fewer than 157 times in describing what led to the crisis, concluding that there was a “systemic breakdown,” not just in accountability, but also in ethical behavior.

LA Times Article on Rakoff's essay

Thanks for this.

The Judge spells it out ....The JD takes the easy road to the expense of all injured by these trades.

reply to post by imd12c4funn


Twenty years ago I was arrested for Cannabis DUI and the statute of limitations has not run out on my crime, which cost nothing to anyone but me. Something is terribly, terribly wrong here.