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View Diary: Wm. Daley Says it is not the President's Job to Prosecute Wall St. - It's Hollywood's. (266 comments)

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  •  Well, DOJ investigations (2+ / 0-)
    Recommended by:
    shrike, Loge

    Goldman Sachs


    Lehman Bros/UBS

    I found within a minute.  Anyone with a Google can find them.  I'd list more but I had to leave for a doctor's appt.

    I'm sure that won't do for you, though.

    "Nothing in all the world is more dangerous than sincere ignorance and conscientious stupidity" - MLK

    by edwardssl on Tue Mar 08, 2011 at 08:40:32 AM PST

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    •  And the outcome of those 'fake investigations' (4+ / 0-)

      you list?  Oh, right a slap on the wrist by the complicit SEC,  now I remember.

      “I hope the two wings of the Democratic Party may flap together.” William Jennings Bryan

      by Badabing on Tue Mar 08, 2011 at 08:44:20 AM PST

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      •  so, are you interested in investigations, (2+ / 0-)
        Recommended by:
        sviscusi, shrike

        or just what you believe to be the proper conclusions of those investigations?  

        Should the DOJ be concerned with what can hold up in court?

        "This world demands the qualities of youth: not a time of life but a state of mind[.]" -- Robert F. Kennedy

        by Loge on Tue Mar 08, 2011 at 09:12:29 AM PST

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    •  So very wrong it's laughable (8+ / 0-)

      First, you articles are from 2008-2009 just talking about investigations. The first involving GOldman Sachs was resolved by payment of $300 million fine and restoration of $250 million to investors.  Not small potatoes, but certainly no frog walk and not devastating to GS in any case.

      I suggest you read a recent article by Joe Nocera in the NY Times.  For example:

      The only two people on Wall Street to have been prosecuted for their roles in the crisis are a pair of minor Bear Stearns executives, Ralph Cioffi and Matthew Tannin, whose internal hedge fund, stuffed with triple-A mortgage-backed paper, collapsed in the summer of 2007, an event that anticipated the crisis. A jury acquitted them.

      What's even more pathetic, under Reagan when the S&L industry collapsed:

      In time, nearly 1,000 savings and loans — a third of the industry — collapsed, costing the government billions. According to William K. Black, a former regulator who teaches law at the University of Missouri, Kansas City, “There were over 1,000 felony convictions in major cases” involving executives of the thrifts. Solomon L. Wisenberg, a lawyer who writes for a blog on white collar crime, said, “The prosecutions were hugely successful.”

      That is partly because the federal government threw enormous resources at those investigations. There were a dozen or more Justice Department task forces. Over 1,000 F.B.I. agents were involved. The government attitude was that it would do whatever it took to bring crooked bank executives to justice.

      Yes, just a little research can go a long way in clearing things up.

      The trouble with the world is that the stupid are cocksure and the intelligent are full of doubt. Bertrand Russell

      by accumbens on Tue Mar 08, 2011 at 09:12:35 AM PST

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    •  Following your links.... (5+ / 0-)

      First link - 04/29/10 11:07 PM  -  Nearly a year old.  Refers to an investigation, not criminal charges. Article also mentions civil charges, which i've heard nothing else about.

      Second Link - July 14, 2009 09:43 EDT  -  this happened over a year and a half ago.  Again, haven't heard anything else on it.  Again, nothing about actual charges. Doesn't take nearly that long to decide to prosecute a person who robs a bank.  

      Third Link - October 2, 2008, 12:28 pm -  See where I'm going with this?  From the article:

      Federal prosecutors in Washington, DC are reportedly considering whether “to charge David Shulman, who ran the auction-rate-securities business for Swiss banking giant UBS, with insider trading for selling his own holdings of auction-rate securities ahead of that market’s collapse,” the WSJ reported, citing two people familiar with the matter.

      Incidentally, that would have been Bush's DOJ.

      Google has failed you, [brother/sister]

      They didn't take baby steps when they saved the Rich.

      by Whimsical Rapscallion on Tue Mar 08, 2011 at 09:21:12 AM PST

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