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View Diary: BREAKING: Obama to Appoint Eric Schneiderman to Investigate Mortgage Crisis (128 comments)

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  •  No budget. (5+ / 0-)

    That's as clear a sign as any. Whenever these folks get ready to take a person down, they let the budget fly. That lets defense lawyers know the seriousness of the thing. They don't announce a dollar amount, but they do say things like 10-person task force, or 15 new investigators from the FBI, etc. etc. That sends out the word that they're serious and people should look for areas of cooperation, immunity, and pleas.

    But a committee of top-level big wigs? LOL. That's not an investigation. That's a press release. For example, if you had seen this:

    The Justice Department announce today that a special unit was being formed by the U.S. Attorney's office in Manhattan to investigate financial crimes. The unite is being headed up by career prosecutor Joe Schmo and FBI white collar crimes unit Special Agent Plain Jane. some 30 lawyers are being assigned to the unit, including securities auditors brought over from the firm Price Waterhouse. The investigation is also being lent detectives from the NYPD, investigators from the NY Attorney General's Martin Act unit, and prosecutors from Manhattan District Attorney Cyrus Vance's office. The new unit will be headquartered in Hanover Square just off Wall Street.

    Now you put something like that out there and you'll see them running for the hills.

    •  Right, that is the test. $$$ detailed to the new (0+ / 0-)

      commission and who its new members will be outside the agencies.   Also removes the NY AG as a problem in the multistate deal they are trying to shovel out to immunize the banks from criminal prosecutions.   This might not work to do that, we will have to see as it shapes up.

      Shrewd political move as many Democrats and independents are skeptical of and wary of Obama and his team as a beard for the biggest banks and their ongoing depredations.

      If you think that you and a bunch of other people can just show up on Wall St, camp out and have any effect whatsoever.... well, you will be run off in 20 minutes., you will leave town having wasted your effort 6/18/11.

      by BeeDeeS on Wed Jan 25, 2012 at 08:02:59 AM PST

      [ Parent ]

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