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Justice Department To Announce Historic Wall Street Crackdown, Expose Over 300 Criminal Defendants
Something big is afoot: Bloomberg has just announced that The Justice Department today will announce arrests in a crackdown on investment frauds including Ponzi schemes and stock market manipulations, according to a U.S. law enforcement official familiar with the matter. It is unclear how much if any of this will be related to the recent investigation into SAC, aka expert networks. But it appears the sting will be one of the biggest in history: "The law enforcement operation, which began in August, involves more than
300 criminal defendants and 180 civil defendants, according to the
official, who wasn’t authorized to speak publicly and spoke on condition
of anonymity." We will closely follow and report as we see any news.
Update: it appears the revalation is nothing but the Justice Department patting itself on the back for (lack of) work already done. Apparently somehow Wall Streeters have already gone to jail in some parallel universe in which the Justice Department actually operates.
- DJ US Announces Results Of Largest-Ever Investment Fraud Probe
- DJ Alleged Frauds Caused $8.3 Billion In Losses
- DJ Schemes Allegedly Harmed 120,000 Victims
- DJ Nearly 350 Criminal, And 189 Civil, Defendants Netted In Probe
- DJ Probe Has Resulted In 87 Prison Convictions
- DJ Schemes Allegedly Harmed 120,000 Victims
»
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Obama trying to set the tone for the next couple of months. Nothing concrete will come of this, more settlements.
Are the 300 all Waddell & Reed employee's?
they're sacrificing some small timers/hedge funders to appease the sheeple and make it appear like there is a cop on the beat. I'll believe it when I see lord blankfein and dimon in cuffs next to madoff.
yep, so what's the over/under that none of them are from Fed "Primary Dealers"?
Exactly. Big Fascist fish (Primary Dealers) eat the little ones. The White House gets to put on a little "Justice Theater".
Thanks all Z'edge commenters for spotting this little fake out early.
Cheers,
Beef
"The Colonel has been shot! ROUND UP THE USUAL SUSPECTS!"
The Urgent.
Martha Stuart ans Sam Waksal alike will be arrested & convicted all over the USA and will be sent to Guantanamo jail.
Just in a preparation for the 2012 election.
and some moron will take all the blame and get a deposit into his account after the sentence of a few million and that's that.
I've already seen that movie.
Good news, but we should remember that the only reason they got caught is that they've been abandoned by the bigger crooks, just like Madoff.
"In a closed society where everybody's guilty, the only crime is getting caught. In a world of thieves, the only final sin is stupidity."
Hunter S. Thompson
Number of upper management at TBTF banks? Zero.
Anyone want to take the over on that?
Nah. I was born at night, but not last night.
Me either. It would mean Inaction Jackson (Eric Holder) would actually have to, you know, prosecute someone. Can't let that happen.
So tomorrow when we pull out funds, ask for 100$ bills. It seems they are low on them.
http://finance.yahoo.com/news/The-Fed-Has-a-110-Billion-cnbc-1062012685....
Just a bunch of tiny sacrificial lambs. No one big.
.....and i guarantee everyone, not one person will be implicated from a money center bank..................... crackdown my ass!
Yep, just cull the little ones.
Sorry, but the dead-to-the-world Justice Department just noticed there were problems this past August? Bullshit.
They're beginning to notice the natives are getting restless and they needed to appear to be doing something. So they're cracking on the most egregious (and obvious) examples of fraud and corruption gone wild.
Theyve been crackin down since August...OH yea sure....in other words Wikileaks is about to make some Wall St bankster bigwigs, and Big Dummy Obama, very uncomfortable so lets shift some focus to some little wigs.
Yo, sheepdog, whassup?
You've been wearing yourself out, thrashing against the tide of currency debasement. Go long.
*** Ding ding ding! ***
We have a winner
Right on.
"So they're cracking on the most egregious (and obvious) examples of fraud and corruption gone wild."
Going to have to disagree. They will gather heads to show the restless natives, but it will be the heads of the least connected to the great ponzi machine, not the most blatant examples of fraud. The chances of this hitting the bit well known frauds is nearly 0, it's not GS is in danger. The people may be asleep but even some of the dull know GS has been involved in screwing them. Get a few smaller players to show when the people start sniffing around.
Makes me wonder if they are doing this because they expect a market turn and want a few people to show off as the reason.
We are in basic agreement, but you are seeing this through your informed eyes.
I'm talking about average Joe and Jane here. So I'm talking about egregious and obvious from the uninformed public's point of view. Which doesn't mean JPM or Goldman to name just two.
We will see a parade of "no names" as far as the public is concerned and the public will be told they are the egregious and most corrupt and their crimes were obvious to the Justice Dept. And they will trot out evidence of how obvious it was because Justice will tell us it's obvious. And the public will accept what they are told because the authorities told them.
I nominally agree, but hasn't GS hate gone quasi main stream? It was in Rolling Stone after all.
The issue with the public being told that these are the bit players of fraud is it will happen again. It's a good trick to use. But not sure how many times "the major ring leaders" can round up time after time an the masses accept it. They are pretty dumbed down and brainwashed but not sure it's to the level of full crime stop yet.
If I was the Gov I wouldn't even claim they are big players. I would point out investigations are ongoing and this is just preliminary, but that we are doing out best to protect the American people...and do the announcement holding a puppy.
Have to ask why now? Zimbabwe Ben was kinda pleading with the masses to put their money up to be robbed and I can't imagine this will fill people with confidence.
Shameful, you're an educated and aware person. So the mind of the asleep or desperate to remain asleep is foreign to you. It's simply incomprehensible, even impossible to understand why so many people want, need and demand that their leaders continue to lie to them.
To those who are not in denial, those in deep denial are impossible to understand. It helps to see them as severely addicted and that they just can't stop seeking more denial. It's an obsession on par with drugs and alcohol and one of the reasons I use the addicted as examples when writing about those who are in denial. While we may think we can understand, there is no way of really knowing without actually experiencing it.
As a male, I may try to understand what it's like to give birth. I can read about it and talk to women who have given birth. I may be extremely empathetic and even convince myself I know what it's like. But unless I actually experience giving birth I'll never know. Until you actually experience the absolutely desperation of denial and the control it has over you, it's impossible to understand.
Agree 100%, but people are waking up. We had a neighbour over for dinner last week, I do not know her well, but the conversation turned to investments, the Irish `bail out` et al. I was amazed when she said that a few people she knows are deeply suspicious of the Banks, have sold their houses (after decades of ownership) moved to rented accomodation and parked their money in physical metal! She asked me if I thought they were mad? but by the end of the evening left clutching a list of online bullion dealers. What was most interesting was that people she was talking about were from very different backgrounds, one was a retired lawyer and the other was a working farrier (shoes horses) both residents of rural England.
I'm with reload and shameless.
Who the hell even talked about the Federal Reserve three years ago, let alone JPMorg or Goldman Suchs for that matter?
Ron Paul.
That is how it has worked for years and years. The upstarts and those deemed to be making too much $$ at the expense of the old line oligarchs are "offered up" for prosecution.
This has happened over and over and over again.
I went to see the movie "Inside Job" last night. After the movie I was in the lobby and people seemed pretty pissed of. I said "Bank Run on Tuesday! and one of the guys said ya! I'm moving it into my credit union.
exciting...
Final Verdict: "You naughty boys. Two slaps on the wrist, and a fine representing 10% of this years bonus. Now get back to work you silly things."
Are they going to arrest Blythe Masters? Wouldn't that be a stunner if they did?
No it wouldn't. I actually have called for it. She looks like a bag holding chump to me.
I don't give two poops about Blythe Masters. I want Dimon or better yet Lord Rothschild, David Rockefeller or whoever he takes orders from.
I expect that 'Stock market manipulations' will only be prosecuted if they have a downward bias, and that commodity market manipulation will be excluded completely, or limited only to those schemes not aimed at suppressing commodity prices.
Got DRYS ? Up 30% in the last month. Up 6% today.... Lots of volume.
Traded over $100 in 2008. Today $6.25
As of April 6, 2010, the Company owned, through its subsidiaries, a fleet of 39 drybulk carriers consisted of seven Capesize, 28 Panamax, two Supramax vessels and two Panamax newbuilding vessels, which have a combined deadweight tons of approximately 3.3 million dead weight tons. Its drybulk fleet principally carries a variety of drybulk commodities, including major bulk items, such as coal, iron ore, and grains, and minor bulk items, such as bauxite, phosphate, fertilizers and steel products.
Debt remained much dominant in its capital structure as the most recent quarter total debt was $ 2.91 billion and total cash included $ 367.14 million.
SS
Held Drys for about a year. Sold a little too soon.
LOL!
Oh, sorry. Thought that was a joke for second....
It is. Trust your instincts.
Pat. Pithy. Great advice.
A joke, only not funny.
Now that, is a joke.
Justice department, double speak, like defense department.
ORI
http://aadivaahan.wordpress.com
Hey ORI- you post regularly, why not get yourself an avatar? I often skip over those with the anon. bag-head, but you comment regularly and thoughtfully and shouldn't be skipped. And you can't do worse than a dead stuffed parrot ;)
It's not dead...it's sleeping!
It's PINING...
I know! I really like him/her...
Me too ORI is a great poster. One of the many jaw droppingly brilliant posters on this site. ZH is one of the few places I go where I feel I'm in the bottom 30% IQ wise. Amazing stuff here.
I know.
"I'm not really a dummy, but I have to play one on Zero Hedge..."
O.R.I.,
IMO only, (I say only because I have seen only a 75 year slice of history. All the rest is assumed based upon the writings of other people.)
These are times of change with some people being pulled out of a stone age culture and others being forced into an awareness of a larger world.
I consistently tout Eric Hoffer's little book "The True Believer", and its extension "Ordeal of Change" as an element of background for thinking about human behavior in the western world during times of change. Because it relates to Maslow's "Heirachy of Needs", it may be universal as the more primative parts of the world are ;ulled into different lifestyles.
Hoffer himself is interesting. You may find him ro be an interesting intellectual associate.
A few sacrificial lambs for the Wall Street altar. And then life carries on as normal
When someone is convicted, actually serves jail time and writes the government a check for $500m (see michael milken), then i might get interested.
Further, can someone find me a strategist/forecaster/astrology major, from a bulge bracket firm who has forecast a DOWN year for the S&P at any time in the past 10 years? Anyone?
I love rhetorical questions. They usually answer themselves.
There was one old Ozzie Aborigine divining wallabee guts..., oh wait, that was a Harvard economist who just looked like..., never mind.
Milken was given a presidential pardon out of prison. He has been back playing his games for a long time. I don't think that is a good example.
I am sure all 300 can't snitch on the bigger guys.
Yeah, 300 good faith dead-ends. We tried!
That will sure put the criminals at the top on notice that we mean business . . . business as usual, that is.
They are NOT Spartans!
They're just out to eliminate Goldman Sachs' competitors. That's all. Don't kid yourselves on any real justice.
I think you have a real shot at the title of ZH's most eye catching (popping?) avatar. I've read your bloody comment 5 times now cause I can't seem to skip past it looking for new ones. An evil ploy to entrap my poor Y-chromosome eyes!
Quiet you, or you'll get a bust in the mouth! :>D
Damn, I love that avatar.
Sorry, MsCreant. I am, through and through, a dude.
.
They even junked my dot!
And CNBC will likely continue on with stories about mall traffic, excitement over the break out in crude oil, and interviews with criminal syndicate Wall Street bankers that are clearly now moving to pump bank shares as a last desperate hope to keep the market moving up.
We are heading for a epic crash. All I want for Christmas is the date of that event...you know, whispered into my ear from Wadell and Reed.
You've been sounding the alarm for a few months. When is this epic crash going to happen?
I'll tell you when - when the ZH bears get tired of coughing up blood when the market goes green. When all bears capitulate and go long, that's when it happens.
Should be just about enough to get us to the mid-December seasonality low, then away we will go, Ho, Ho, Ho.
I'm sure it won't include anyone that will matter or will The Ben Bernanke just turn himself in peacefully?
More like,
".... since Waddle & Reeds wreckless market flash crash and manipulation, the DOJ, SEC, and other highly effecient gov't departments have been working round the clock in various sting operations and have discovered that the mastermind behind this is, Mrs. Whiggins, the janitors wife. Naturally all employees of the W&R will be immediatley sentenced to guilty, punishable of up to 10 years service at the US Postal Service...."
I posit Colonel Mustard, in the Library, with a Stock Ticker!
300? about 10% of the criminals
0.01%*
Are you working in the base 10 number system??
This is like the drug king-pins who get law enforcement to crack down on the drug dealing competition. Shake out the up and comers and consolidate the power of the big guys.
Those rejected for club membership after performing their initiation crimes.
jmac, I am glad someone figured this out. There are too many hands in the cookie jar stealing money away from the big money insiders. Time to shake them out and keep the money in the crooked family.
The lower echelons at DoJ aren't as political as some here on ZH seem to believe. To me this looks like the pot is finally boiling over as Holder and his cronies simply can't ignore the growing numbers of cases piling up in the queue. It's about time.
Disaster of the Day:
http://www.thestreet.com/_yahoo/story/10939275/1/celgene-revlimid-cancer-risk-knocks-stock.html?cm_ven=YAHOO&cm_cat=FREE&cm_ite=NA
So a drug that does not cure the patient, but keeps them going. At the same time it makes them sicker needing more drugs. Sounds perfect to me. Working as designed.
Someone has an active EEG reading and the courage to view reality as it is. Nice to see.
The cynicism is justified, but really, it doesn't matter what drug or treatment you get for ANY disease or disorder: you're gonna fuckin' die someday.
If someone had a blood-cancer that would kill them in a year or two without drug treatment, or wouldn't kill them but would cause secondary cancers after two years of treatment, who the hell WOULDN'T take the drug?
Just look at the five-year survival rates:
I'd take my chances with the pills.
But RT is right, from their perspective it is a tragedy. Sure some proles might have died of cancer, but instead a far worse tragedy occurred. RT might not make as much money with his bet on Federally sanctioned drug pushers.
Oh the profit-manity!
Are you running out of material Robo? I have seen this old bitch before. Google images is your friend. Try this one for example:
http://www.google.com/images?q=fsu%20cowgils&rls=com.microsoft:en-us:IE-SearchBox&oe=UTF-8&rlz=1I7GGLL_en&um=1&ie=UTF-8&source=og&sa=N&hl=en&tab=wi
Looks like I better skedaddle out of town as fast as I can. It seems in cases like these they always go after the bad guys although we are just innocent victims of government oppression.
Any one know a good hidey-hole?
Too bad the ole Hole In the Wall out in the Indian Nations is no longer of any use.
Not true. Although it is on private land, I have spent many days there "getting my shit together" with friends.
finally some good news!!
I hope the actual raid goes slow enough to give these guys time to get to the roof and jump, I would love to see some sweet justice.
Who are you kidding? Those sanctimonious sociopaths commit actual suicide? That would defeat the purpose of them stealing for this long. And you assume that these narcissistic megalomaniacs would have the fortitude to go through with jumping when they'd much rather let the "justice" system determine their "guilt"; i.e. get released for a fine.
Yeah, watch the Charlie Rose show with Steve RATner, he sat there and whined like a bitch wondering why Cuomo wouldn't settle, how unreasonable he was, etc.
psychopaths aren't conscious of guilt.
Hmm... I will believe it when I see who is indicted and what happens. Hope they bag Cramer.
Will this be enough to make people trust Wall Street? Probably not, unless Shapiro, Dimon, Blankfein and Paulson are on the list. Maybe a start at "doing what is right instead of doing what is easy" or what "the club" wants.
Does anyone else get irritated with this most recent crap about how the source refuses to be identified because they are not authorized to release the information. How different is this really from the Wikileaks garbage? Either release it or don't ... no one cares, anyway.
just a ruse to spur some "retail appetite". The smoke and mirrors machine never stops.
Some token small fries will be offered up as sacrafice to appease the mob, in an attempt to save face and halt equity redemptions.
This will do very little to alter things.
From the big picture point of view this will be a few small rocks thrown under the wheels of the runaway bus. They aren't trying to stop it, just manufacture the impression they are.
Ultimately the price of Gold and Silver is the public's answer to the lies. We can link Gold to anything we wish. But it's all about faith in fiat.....or lack there of as well as no faith in the masters of that fiat.
“In the absence of the gold standard, there is no way to protect savings from confiscation through inflation. There is no safe store of value...The financial policy of the welfare state requires that there be no way for the owners of wealth to protect themselves. This is the shabby secret of the welfare statists' tirades against gold. Deficit spending is simply a scheme for the confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights. If one grasps this, one has no difficulty in understanding the statists' antagonism toward the gold standard.”
Alan Greenspan, 1966
Yeah.......They will throw some lambs on the altar and the people will watch them get slaughtered. The MSM will make a huge deal out of this and will act like these are the only bad actors. Case solved!
The real criminals will remain in their golden towers in lower Manhattan, insulated by the wads of campaign cash thrown to the 535 criminals on the Hill.
http://www.capitalresearch.org/news/news.html?id=551 - too bad the Justice Department won't consider this...
Oh dear....
Baaaaaa-Baaaaa-Baaaaaa - sacrificial lambs -
Tax dollars at waste....errrr work.
HA HA HA!!!!
I am absolutely not buying it. I'm claiming sacrificial lambs: Big smokescreen of bullshit.
No matter what, I WILL NOT put any money back into the equities markets as long as High Frequency Trading is allowed to continue. I know many a private investor who feel the same way; we are all just stacking metals and looking for deals on real estate and niche commodities. This current equities market can jump off a cliff for all I care.
In the old days....the price was the price. Today the price is the price only when the volume spikes as a result of dark pool orders hitting the tape. Nobody knows what the value of anything really is until the volume shows up. That's like musical chairs. Everyone is dancing until the music stops and the bids go dry. Then and only then can we know what the real price is.
I bet the investigators are more pissed off at being denied quality porn time than the alleged deeds perpetrated.
Nothingburger with cheese. No executives from TBTF banks will be on that list.
Bonuses for everyone and the first, second, third, fourth and fifth rounds are on the taxpayer.
"Nothingburger with cheese."
Heh, heh...
And more low level traders take the fall for their bosses.......
Anyone from a credit rating agency? Nope.
Anyone from a PD? Nope.
Will any Corporate operation be closed forever a la Andersen? Nope.
The Hydra grows another head.
Its going to be Russian mafia types named Boris and other guys named Jugdish that cleared "dozens of illicit transactions using insider information."
The scale of the fraud these last years has been so obvious and immense, you would have to build 10 Guantanamos.
DOJ had 10 years to get 9/11 convictions - so far what has been accomplished. You think DOJ is going to arrest en mass 300 heads fo trading earning $10 million plus a year? Think of the lawyer costs and never-mind how all the best white collar defense attorney are all former AUSA.
They should arrest Holder for impersonating an Attorney General.
Revolt:
http://www.activistpost.com/2010/12/france-awaits-eric-cantonas-cashpoin...
Professor William K. Black put away over 1,000 fraudsters during the S&L crisis, and according to Black this crisis is 40x larger! Black also points out that the current staff of investigators is 1/5 of the size he had, so...this smacks of desperation on behalf of the corrupt in power who are trying to appease the awakening masses who have had enough of their shit. The only problem is they are only cutting off a toe nail of the hydra, unless they are squeezing the little guys to work their way up to the serious fraudsters, like those who reside at the head of the big banks, but I doubt it. I'm sure all of the arms of justice have been tainted by now. CRASH JPM BUY SILVER!!!
That's a lot of receptionists being arrested!
Perp-walks?
Or Distraction ?
Who are the real competitors of GS & JPM will get arrested, very simple
They shouldn't have announced this! They'll all be here in Ireland tomorrow just in time to here what the government is going to foist on the people in their name, there won't be ANY retribution here!
On a serious note. Who announces that they will be raiding people before they raid them. Some mistake surely? Have they already seized 300 computers? Mobile phones, I didn't hear of it.
Excellent observation re your "serious note."
"DJ Alleged Frauds Caused $8.3 Billion In Losses"
Better than nothing, but only barely. That's absolute chicken feed which will only divert them from going after the big boys, not that they would anyway. It's fodder for the sheeple to divert their meager attentions and lull them into thinking that the "regulatory" agencies and the Do"J" are actually on the job in important rather than "just for show" areas.
300? Haven't we seen this movie? Didn't they all die in the shade in some sort of ghastly mythrificial blood-letting?
Looks like we can finally close the books on this one. LOL
Bunch of BS. Real crime and real fraud is still being protected by the regulators themselves.
At least for a while this will give the illusion those crack SEC teams aren't really watching porn.
Hear Yee! Hear Yee! By order of Emperor Obamas and his Right Trusted Wizard Bendover Bernankus the following spectacle shall be staged in the Coliseum.
Hundreds of thieving speculators from the Forum have been rounded up by the Praetorian Guard and transported by donkey cart to the Coliseum. There they will be set upon by lions, starving dogs, lawyers, forensic accountants and other ravenous beasts.
Vendors in the stands will provide free Rats-on-a-Stick and flagons of wine.
Half time entertainment will be provided by any celebrities not currently in the dungeon or drug rehab or passed out in the vomitorium.
Sturdy peasants under thirty years of age will be encouraged to join our Glorious Imperial Legions currently battling the horrible, terrible barbarians in swamps, deserts and jungles on the periphery of our Glorious Empire.Gangs of New York scene, where Bill the Butcher asks Mr. Tammany Hall, "How many shall we hang, three or four?" "Four."
DOJ official statement:
"We read on WikiLeaks there may be some fraud out there."
Just as long as the criminality of the TBTFs is ignored, this can only be seen as a cosmetic move designed to enhance the DOJ's credibility. It's pretty clear that a teenager smoking a joint gets hard time but the huge money bankster criminals get life-time free passes.
Is the Justice Dept is going to put handcuffs on themselves as well?
When the tanks roll down Wall Street then you know this is serious. It is a big joke.
Never happen. Gates is Bush stooge since Langley days. Bush is a bankster descendant.
True. The economy is driven into a brick wall and nothing changes.
Unless ETF's are involved, this story is bullshit.
ETF's must be eradicated.
A bone for the angry peasants is all.
Is CNBC among the defendants?
If not, it's BULLSHIT.
300, hunh?!? Will they be showing their abs?!?
These unlucky guys condoms must have broken.
At first I thought - yeah it might be small fry, throwing us a diversionary bone, etc. but perp-walks are perp-walks. Now that I see the headline in the WSJ, which says nothing (not even naming names) and will probably be back-page quickly, my skepticism doth grow...
Heh, you lot are all so cynical:
"A few sacrificial lambs for the Wall Street altar. And then life carries on as normal"
"At first I thought - yeah it might be small fry, throwing us a diversionary bone, etc. but perp-walks are perp-walks. Now that I see the headline in the WSJ, which says nothing (not even naming names) and will probably be back-page quickly, my skepticism doth grow..."
"Anyone from a credit rating agency? Nope.
Anyone from a PD? Nope.
Will any Corporate operation be closed forever a la Andersen? Nope.
The Hydra grows another head."
"Nothingburger with cheese. No executives from TBTF banks will be on that list."
Likewise.
http://www.google.ca/imgres?imgurl=http://www.livingtheamericangreen.org/wp-content/uploads/2010/02/calvin-hobbes-hiccups_thumb2.jpg&imgrefurl=http://www.livingtheamericangreen.org/%3Ftag%3Dpolitics&usg=__LRVHkhEUrFzd5CfxrBiJtwC8pgM=&h=205&w=606&sz=59&hl=en&start=0&zoom=1&tbnid=S2jL6p4ZyCzXtM:&tbnh=69&tbnw=203&prev=/images%3Fq%3Dcalvin%2Band%2Bhobbes%2522hiccups%2522%26um%3D1%26hl%3Den%26sa%3DG%26rls%3Dcom.microsoft:en-ca:IE-SearchBox%26rlz%3D1I7ACAW_enCA394CA396%26biw%3D1058%26bih%3D493%26tbs%3Disch:1&um=1&itbs=1&iact=rc&dur=218&ei=MSL9TObEHMXCnAftv6HJCg&oei=MSL9TObEHMXCnAftv6HJCg&esq=1&page=1&ndsp=13&ved=1t:429,r:0,s:0&tx=113&ty=28
<Whew> That was some link...
More pissing on my leg with the USDOG (no typo) trying to tell me it's raining
I want houses, cars, bank accounts, seized and lives wrecked. I want fraud in the poorhouse, and names with pictures and addresses released.
It should all be confiscated like narcotic search and seizure. Every last cent, even from the private school tuition.
300, huh? What are the odds of one, just one, spilling some beans that implicate some higher-ups, just 'cause?
I put that one at even money. One dude, that's all.
Is by-passing the SEC the only way to get the job done?
It appears so.
Financial Fraud Enforcement Task Force, hat tip
Yawn. Whatever. Considering the fact that the Fed runs the biggest Ponzi scheme in mankind's history and rigs the market EVERY SINGLE DAY, unless they are arresting its employees and owners, a huge and gigantic DOG AND PONY SHOW is all it is. The TBTF banks are just eliminating competition. What a PATHETIC excuse of "law enforcement"
just like the cops busting the smokers, the kingpins get away. show that they're doing more than watching porn and looking the other way, not with the porn, but when it comes time for their butties need another ponzi scam to go unwatched and policed.
I believe it's different this time. Our good friends at SAC Capital have been on the justice department's radar for some time.
http://finance.fortune.cnn.com/2010/12/03/the-six-degrees-of-steve-cohen/
This is a big dog and pony show, I thought maybe something was in the works but I've seen this during the dot.CON implosion where they bagged alot of non-connected and small fries in order to show that they where on the job.
This is a big dog and pony show, I thought maybe something was in the works but I've seen this during the dot.CON implosion where they bagged alot of non-connected and small fries in order to show that they where on the job.