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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 | Link to Comment gwar5
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The SEC must be slipping. Attacking one of their own is an outrage.

Thu, 11/18/2010 - 11:03 | Link to Comment 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 | Link to Comment 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 | Link to Comment Arius
Arius's picture

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

Thu, 11/18/2010 - 19:44 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Rainman
Rainman's picture

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

Thu, 11/18/2010 - 12:06 | Link to Comment 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 | Link to Comment 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 | Link to Comment Arius
Arius's picture

 

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

Thu, 11/18/2010 - 15:01 | Link to Comment 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 | Link to Comment 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 | Link to Comment rupertq
rupertq's picture

Any find the timing of the SEC announcement odd?

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

[raises hand]

Thu, 11/18/2010 - 11:16 | Link to Comment rupertq
rupertq's picture

Any find the timing of the SEC announcement odd?

Thu, 11/18/2010 - 11:20 | Link to Comment SheepDog-One
SheepDog-One's picture

Everything is odd. Also totaly corrupt.

Thu, 11/18/2010 - 11:44 | Link to Comment 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 | Link to Comment williambanzai7
williambanzai7's picture

Timing is never an accident

Thu, 11/18/2010 - 12:29 | Link to Comment carbonmutant
carbonmutant's picture

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

Thu, 11/18/2010 - 11:23 | Link to Comment hedgeless_horseman
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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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment plocequ1
plocequ1's picture

.

Thu, 11/18/2010 - 11:35 | Link to Comment 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 | Link to Comment QQQBall
QQQBall's picture

Ahh, he has not been punished yet, just sued

Thu, 11/18/2010 - 11:43 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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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