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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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Thu, 11/18/2010 - 10:59 | 737574 gwar5
gwar5's picture

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

Thu, 11/18/2010 - 11:03 | 737584 israhole
israhole's picture

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

Thu, 11/18/2010 - 11:07 | 737602 besodemuerte
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.

Thu, 11/18/2010 - 11:41 | 737718 Arius
Arius's picture

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

Thu, 11/18/2010 - 19:44 | 739499 dereklutz
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

Thu, 11/18/2010 - 11:08 | 737605 Clark_Griswold ...
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.....

Thu, 11/18/2010 - 11:13 | 737618 betterlockaway
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...

Thu, 11/18/2010 - 11:24 | 737658 Rainman
Rainman's picture

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

Thu, 11/18/2010 - 12:06 | 737797 unununium
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.

Thu, 11/18/2010 - 11:14 | 737620 trillion_dollar...
trillion_dollar_deficit's picture

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

Thu, 11/18/2010 - 11:43 | 737724 Arius
Arius's picture

 

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

Thu, 11/18/2010 - 15:01 | 738407 ToNYC
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.

Thu, 11/18/2010 - 15:05 | 738434 ToNYC
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.

Thu, 11/18/2010 - 11:15 | 737622 rupertq
rupertq's picture

Any find the timing of the SEC announcement odd?

Thu, 11/18/2010 - 11:18 | 737631 tip e. canoe
tip e. canoe's picture

[raises hand]

Thu, 11/18/2010 - 11:16 | 737625 rupertq
rupertq's picture

Any find the timing of the SEC announcement odd?

Thu, 11/18/2010 - 11:20 | 737637 SheepDog-One
SheepDog-One's picture

Everything is odd. Also totaly corrupt.

Thu, 11/18/2010 - 11:44 | 737732 Arius
Arius's picture

 

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

still working on the perpetum mobile

Thu, 11/18/2010 - 11:28 | 737671 williambanzai7
williambanzai7's picture

Timing is never an accident

Thu, 11/18/2010 - 12:29 | 737869 carbonmutant
carbonmutant's picture

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

Thu, 11/18/2010 - 11:23 | 737643 hedgeless_horseman
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

Thu, 11/18/2010 - 11:24 | 737662 Bartanist
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.

Thu, 11/18/2010 - 11:28 | 737669 Captain Willard
Captain Willard's picture

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

Thu, 11/18/2010 - 11:30 | 737678 colonial
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.

Thu, 11/18/2010 - 11:35 | 737691 plocequ1
plocequ1's picture

.

Thu, 11/18/2010 - 11:35 | 737697 plocequ1
plocequ1's picture

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

Thu, 11/18/2010 - 11:40 | 737717 QQQBall
QQQBall's picture

Ahh, he has not been punished yet, just sued

Thu, 11/18/2010 - 11:43 | 737727 EscapeKey
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.

Thu, 11/18/2010 - 12:16 | 737824 Ace Ventura
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!

Thu, 11/18/2010 - 12:31 | 737880 DonnieD
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.

Thu, 11/18/2010 - 12:59 | 738005 curbyourrisk
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?

Thu, 11/18/2010 - 13:10 | 738030 trav7777
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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