People's Hero Steve Rattner Receives Bad News: "SEC Files Civil Lawsuit Against Rattner In Pension Fund Kickback Case"

Tyler Durden's picture

WSJ headline "SEC Files Civil Lawsuit Against Rattner In Pension Fund Kickback Case"

We are shocked someone is punished for (alleged) criminal activity. Shocked.

More if the ministry of truth allows it.

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gwar5's picture

The SEC must be slipping. Attacking one of their own is an outrage.

israhole's picture

Sure he'll get punished.  Next, he'll have his own talk show like Elliot "the john" Spitzer.

besodemuerte's picture

Zing!

Yes, I agree he'll probably get fined a fraction of a fraction of a fraction of a fraction of a minute fraction of what he made in total combined kickbacks.  Much like Goldman a few months ago, talk about a freggin' joke.  That and probably a weekend probation, probably one that overlaps a holiday weekend so he doesn't miss out too much.

Arius's picture

take it you dont like spitzer? may i ask why?

dereklutz's picture

hahah......when this asshole was at lazard and just received the assignment to sell mercom cable assets, guess who just happened to drop a buy ticket on the desk?? once a scummer, always a scummer

Clark_Griswold Hedge Mnger's picture

OK so the SEC took a break from watching porn and made a headline.

What won't make the front page headlines, is..... if he actually goes to prison, it will be in the Bahamas, pay a kickback, er I mean fine or someone will hit the delete buttton on a computer and the case will just go away in flash crash heaven.....

betterlockaway's picture

Does anyone else find it high-larious that this guy gets pinched after he dicked over the hedges and prop desks when GM went into bankruptcy?  Just saying...

Rainman's picture

...couldna' happened to a more deserving ratt.

unununium's picture

Bingo.  Wall Street's worst nightmare is that this knowledgable banker is put in charge of reorganizing THEIR business.

Let the smear continue.

trillion_dollar_deficit's picture

T'would have been hilarious had CBNC broken this news this morning while he was guest hosting.

Arius's picture

 

thats asking too much...you know we have to operate within prescribed boundaries...

ToNYC's picture

 

Cramer will be on his defense this afternoon to clean the weasel's skirts. One hopes he damn him with faint praise, but sycophancy is more his natural bent. Government Sacks über Alles.

ToNYC's picture

 

Cramer will be on his defense this afternoon to clean the weasel's skirts. One hopes he'll damn him with faint praise, but sycophancy is his natural bent...Government Sacks über Alles.

rupertq's picture

Any find the timing of the SEC announcement odd?

rupertq's picture

Any find the timing of the SEC announcement odd?

SheepDog-One's picture

Everything is odd. Also totaly corrupt.

Arius's picture

 

ROME comes to mind...but hey, this time is different and americans are exceptional people...

still working on the perpetum mobile

williambanzai7's picture

Timing is never an accident

carbonmutant's picture

It does beg the question, "Who does this timing benefit?"

hedgeless_horseman's picture

Wanted in 14 counties of this state, the condemned is found guilty of the crimes of murder; armed robbery of citizens, state banks and post offices; the theft of sacred objects; arson in a state prison; perjury; bigamy; deserting his wife and children; inciting prostitution; kidnapping; extortion; receiving stolen goods; selling stolen goods; passing counterfeit money; and contrary to the laws of this state the condemned is guilty of using marked cards in a poker game. Therefore, according to the powers vested in us we sentence the accused here before us Steve Tuco Benedicto Pacifico Juan Maria Ramirez Rattner and any other aliases he might have to hang by the neck until dead. May God have mercy on his soul. Proceed.

http://www.youtube.com/watch?v=BD2kWCfTcaU

Bartanist's picture

IMO, until there is a conviction with actual jail time involved, this is all just a show to blind the people to reality.

It is a shame that the rule of law no longer exists since we are under a "state of emergency" via the "War Powers Act" (so what AMENDMENT to the constitution gave them the power to create a dictatorship?) and a small group of fascists dictate to the rest of us.

Captain Willard's picture

Bribery of public officials is now just good marketing strategy. Obviously, I slept through that class in business school.

colonial's picture

come on...its the SEC! 

As soon as the news hit the wires a SEC contact let it be known that a settlement was pending.  When you're dealing with the SEC its a reverse of pay-to-play game.  If you're someone like The Rat, you cut a deal and give them money.  In this case the number is $6M.  I think Rat should be more worried about Cuomo who wants money and a lifetime bar.

plocequ1's picture

Lawsuits? We dont need no stinking lawsuits. POMO. NTAP is up over 3 Dollars. The world is good again.

QQQBall's picture

Ahh, he has not been punished yet, just sued

EscapeKey's picture

Look, he has already paid back the money in question, and promised never to do it again, so it's all good. Besides, he can't be sent to jail - too many people depend on his services.

Ace Ventura's picture

Otherwise known as: Too Big To Jail (TBTJ)? 

Unless it's been done already, methinks Escape has just coined a phrase applicable to individuals, in lieu of total organizations.

Hence, I raise my frosty mug of premium ale to thee!

DonnieD's picture

I saw this weasel on CNBC this morning before I decided my time was better spent watching Phineas and Ferb with my 1 year old.

curbyourrisk's picture

Come on....slap on the wrist....petty fine and NO ADMISSION OF GUILT.

 

The same result over and over again.  Why would you expect anything different?

trav7777's picture

Corruption like this should be punished with jail time.

Rattner was an insider, who used his government position to enrich his cronies.

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