First Credit Bubble Conviction: Former New York State Comptroller Havesi Sentenced To 1-4 Years

Tyler Durden's picture

Just out from Reuters:


In the meantime, Steve Rattner continues to be a distinguished CNBC contributor, and most certainly is not sentenced to 1-4 years in prison.

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ArgentDawn's picture

I am still in disbelif that NYers voted for him and elected him anyway.

Jay Gould Esq.'s picture

"Welcome to the inside, Havesi. No pensions here, kickbacks either. You want an easy one to four bit ? Then you best remember that Marlboros are the currency of this Realm, and never forget who's your daddy. Be seein' you around, bud."

scythian empire's picture

... for eveyone else to call their friends and avoid this problem.

LawsofPhysics's picture

Wow, prosecuting fraud.  Could be bullish, if they go all the way up the food chain.

FIAT_FixItAgainTony's picture

agreed laws.  keep their feet to the fire.  i sent a letter to my state AG demanding prosecution of these crooks.  time for a million other americans to do the same.

and NOW, not later!

alien-IQ's picture

Do not be fooled by this little sacrificial lamb...there are still a grand total of ZERO bankers jailed for this massive fraud/clusterfuck.

1911A1's picture

I think you are mistaken.  SIGTARP has prosecuted and jailed bank executives:

falak pema's picture

small minnows is the bait thrown to the public. Never goes an Oligarchy.

PY-129-20's picture

There is an epic battle over at Crude. Up, up, up, down, down, down, down, up, up, up, up... Next: !Gehirnzellenmassaker! @ GS

Rodent Freikorps's picture

LONDON—Moody's Investors Service Inc. downgraded Ireland's government debt by two notches Friday, taking the country to the brink of junk status, and kept its outlook negative.

The agency, cutting Ireland's bond ratings to Baa3, one notch above junk, from Baa1, said it was responding to a likely deterioration in Ireland's fiscal position due to weak prospects for economic growth and higher borrowing costs as a result of rate rised by the European Central Bank.


Josh Randall's picture

Fighting Irish! Send those Banksters an "Up Yours" card for Easter

FIAT_FixItAgainTony's picture

way to go ireland!  who really cares what your countries bankster credit rating is.  f them.  you've got your fellow men and women, no need for banksters.

wish america could realize there is no need for banksters.  if there was, the Constitution would have directly provided for such.

it did not and for good reason - absolute power (control of a nation's currency) corrupts absolutely.

nuff sed.

Bansters-in-my- feces's picture

Until Bernanke,and Hank Paulson and Timmothy Giethner and the likes getcharges and CONVICTIONS brought against them,then this is just frying small minnows while the Sharks still churn the waters....

Window dressing...thats all.

Bansters-in-my- feces's picture

Keep your eye on the ball.......


b_thunder's picture

1 to 4?  for $100+million scam and $1million bribe? 

if he robbed corner deli and gotten $500, he'd do "1 to 4" several times back-to-back!



Rainman's picture

Many public pension funds are cesspools of graft and corruption. There aren't enough prisons to hold all the crooks wetting their beaks.

SRV - ES339's picture

So it was a single civil servant that caused this mess... go figure?

... wake me up when Lloyd & Jamie are "hooded & hangin'!"

cabernet's picture

Good news rarely comes, but when it does, it is sweet. Since the sentence is for 1 to 4 years, the next news item will come in a year announcing that Havesi has been set free. At least we got a sliver of justice.


israhole's picture

Is Hevesi a Gentile?

belogical's picture

One to four years is not enough,for the people he hurt. He should also be forbinden from working or recieve any money from the financial industry. Day labor sounds good

NotApplicable's picture

They call it a "criminal justice system" for a reason, ya know.

tmftdoyle's picture

it's the Ratner thing that sums it all up. 

boiltherich's picture

I do not know what shocks me more, that he got only 1-4 years for a crime that would put me away for 10, or that he was even prosecuted at all.

FIAT_FixItAgainTony's picture

one down, 669 (estimate) more to go.

demand reform, do not back down.

give me liberty or give me death!

Dr. Impossible's picture

can someone point to me where to find the info on

a)where anybody locally that had been evicted from their home for financial hardships, directly or otherwise, caused by (said person)

B) where people may have felt compelled(potentially by said) to commit crimes due to (saids' actions/inaction), further, have any criminal convictions, fines, fees, of any sort, been levied against (individuals/US citizens)

C) listings of (any persons) potentially involved in local CPS(Child Protective Services, or similar local child law enforcement agency/dept)

D) where any of above (persons) have been heard,in this case(or any similiar case's), in reference to guidelines for sentencing(potential min/max sentences)?

E) do any of potential (as questionable existence of above persons) have clear understanding of the ramifications of (the convicted/Havesi) actions, with full ability to use all case findings and records(unredacted), with intent of full compensation from those who had material, and or immaterial gain (over time/duration), (saids' actions/inactions)

F)any investigation of  potential R.I.C.O. infractions (as at a glance, this appears to fit the bill)

G) have any of the local individuals/businesses had any IRS issues with being potentially adversely effected by.

H) have any members of the"BAR association", or any politicians(and/or family, friends), or any other government employee, made gain from.


I'm working on a project to present a short circullar(with pure FACT based material to back it).To pass to the  local churches masses in my community. In hopes to ignite fact finding for some of these questions, and others that have arisen in my local.


FIAT_FixItAgainTony's picture

commendable actions dr.  lots of info at: (general) (mortage specific) (mortgage specific) (background info)


Miss Expectations's picture

Mr. Hevesi could be out of prison in less than a year with good behavior. Ms. Biben said his sentencing was the culmination of a four-year investigation that resulted in eight guilty pleas, more than 20 civil settlements and more than $170 million recovered.

boiltherich's picture

The "prison" he is going to will be so plush he might act out just to stay longer, work on his golf swing.  They call it Club Fed for a reason you know, if it were you or me it would be Leavenworth. 

Ah, must correct self, he was allowed to plead guilty to a single count of official corruption in from of a state supreme court judge, so he will do state time.  Sing Sing?  Attica?  No those are filled already with violent offenders.  Well, wherever he goes he will not be there long enough to get used to the color scheme.


Aristophanes's picture

I think we should institute a dollar based system for jail terms: You steal $500, you serve 500 minutes in jail.  You steal (or otherwise destroy) $170 Million and we lock up you, your trophy wife, your brat kids and all your lawyers and accountants who work for you who "had no knowledge" about your actions.  They can all share the 170 MM minutes of time to be served.

FIAT_FixItAgainTony's picture

excellent aristo!  boy oh boy would ben be locked up for a while then.


Seasmoke's picture

how many hours are equal to a trillion minutes ?

Dr. Impossible's picture

i can't agree to terms like that...that FED would to easily find a way to screw the conversation rate....

Aristophanes's picture

Not if they are the first rats to go.

Aristophanes's picture

Along with all their lawyers of course.

kragsquest's picture

King of shocking that someone who was lauded like Hevesi ends up in prison.

Check out your local US Attorney postings sometime, it looks like a lot of internet addicts are getting a nasty surprise with morning raids for downloading internet porn pre-18. That's the new reputation destroyer.

In Connecticut, the state police have been quite active:

Problem Is's picture

Stevie "The Rat" Rattner is an Obummer financier and string puller...

More importantly, much like Jeethner, Rattner is a Teflon Coated Rodent (TCR)...