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Retiring SEC Lawyer Crucifies His Employer: "It's A Cancer" Working On Behalf Of The "Bankster Turnpike"

Tyler Durden's picture


We wonder: why does the truth about the broken system, as witnessed and experienced by individual employees, always wait until said employee is about to depart their employer or just after? Obviously that is rhetorical. However, it is worth mentioning, because in the latest such revelation, a retiring SEC trail attorney veteran, James Kidney, who had been with the agency since 1986 and retired this month, just crucified his now former employer for doing precisely all those thing that outside critics - notably Zero Hedge - have accused the most co-opted, clueless, corrupt and criminal regulators of doing. Only he said it in a way that not even we could have phrased.

From Bloomberg:

The SEC has become “an agency that polices the broken windows on the street level and rarely goes to the penthouse floors,” Kidney said, according to a copy of his remarks obtained by Bloomberg News. “On the rare occasions when enforcement does go to the penthouse, good manners are paramount. Tough enforcement, risky enforcement, is subject to extensive negotiation and weakening.”


Kidney said his superiors were more focused on getting high-paying jobs after their government service than on bringing difficult cases. The agency’s penalties, Kidney said, have become “at most a tollbooth on the bankster turnpike.

Wow: another "erudite" former cog in the systemic wheel goes off the reservation and gets all tinfoil bloggy on us. He goes on:

In his speech, Kidney also hit the agency for using misleading statistics to showcase its enforcement efforts. The SEC should focus on the quality of its actions, rather than try to file as many as possible just to tout its record to lawmakers and the media, he said.


“It is a cancer,” Kidney said of the agency’s use of numbers. “It should be changed.”

His name was James Kidney.

Kidney said in the interview that he will always be an SEC loyalist and was trying to offer constructive criticism that could help the agency. He said he wasn’t singling out any specific cases or officials in his comments.


“I don’t think we did a very aggressive job with all the major players in the crash of ’08,” he said, noting that as a civil enforcement agency, the commission does not need to prove its cases beyond a reasonable doubt like the Justice Department does. “The SEC has a lower burden of proof and we should be pushing the envelope a bit.”

You mean, pretending to regulate the same people where SEC staffers wish to work will no longer fool most of the people all of the time? The horror... The horror.

A quick reminder on the Goldman wrist slap deal with the SEC, where Kidney was part of the initial, if not final team.

Kidney, who was part of the initial team that was building the Goldman Sachs case, pressed his bosses in the enforcement division to go higher up the chain. He later took himself off the team after being given a lesser role, according to people familiar with the matter.


In particular, the people said, Kidney argued that the commission should sue Tourre’s boss, Jonathan Egol. Kidney also wanted to bring a case against Paulson & Co. or some executives at the hedge fund, which helped pick the portfolio of securities that were underlying the Abacus vehicle and then bet against it.


The SEC ultimately decided not to sue Egol, the Paulson firm or any individuals from the hedge fund.

Yes, it was all the not even 30 year old Tourre's fault. All of it. And the person who dared to point out this criminal disdain for justice by the SEC? He was demoted by the most corrupt of all: Mary Schapiro.

The punchline - the SEC is a regulator only for optical purposes. It's true role is not to shake up the status quo.

In his retirement speech, Kidney noted that he had been “involved in a high-profile case or two” and said he had gotten a message from above not to take too many risks.


“I have had bosses, and bosses of my bosses, whose names we all know, who made little secret that they were here to punch their ticket,” Kidney said. “They mouthed serious regard for the mission of the commission, but their actions were tentative and fearful in many instances.”

Simply said: disgusting and pathetic - both the sad truth about the US market "regulator", which most were already aware of, and that an SEC employee has to wait until the day he quits to express it.

Oh, and if anyone still wants to know why the perfectly legal parasitism of HFT has turned off the retail investors for the last time, and why everyone knows the market is rigged - it is not the vacuum tubes. Nope. It is the criminals at the SEC who made it legal for 25 year old math PhDs to rig stocks in the first place, and who allowed the TBTF banks to make the marketplace into their own personal no risk, all return piggy bank. Them, and of course Congress - because when the day comes that all those idiotic trades blow up and the banks have to pay the penalty, why - they just get another taxpayer bailout, courtesy of America's democratically elected "representatives."


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Tue, 04/08/2014 - 10:43 | 4635515 Cornholiovanderbilt
Cornholiovanderbilt's picture

"Retiring"  So the pos put up with it long enough to get a check forever.  What a putz!

Tue, 04/08/2014 - 10:48 | 4635531 whisperin
whisperin's picture

Maybe, but I wonder how many cases and against who he referred upstairs only to see them essentially disappear?

Tue, 04/08/2014 - 10:50 | 4635543 Pladizow
Pladizow's picture

“It is difficult to get a man to understand something, when his salary depends on him not understanding it.” - Upton Sinclair

Tue, 04/08/2014 - 10:53 | 4635554 SilverIsKing
SilverIsKing's picture

Kidney Failure

Tue, 04/08/2014 - 11:02 | 4635579 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Lawyers have such a heightened sense of self-worth. A lawyer tells us something everyone with a brain already knows on his retirement day and we're all suppose to think he's some kind of hero? Enjoy your fun in the sun asshole.

Tue, 04/08/2014 - 11:09 | 4635612 Buckaroo Banzai
Buckaroo Banzai's picture

The SEC was put in place to create the illusion of fair markets. To expect them to do anything real is silly. For that would shatter the illusion, you see.

Tue, 04/08/2014 - 11:13 | 4635619 NotApplicable
NotApplicable's picture

Wait... the SEC is an extortion racket??

<= This is my shocked face.

Tue, 04/08/2014 - 11:13 | 4635635 Four chan
Four chan's picture

every time i think of the sec "regulater", i picture that schlub in "boilerroom" eating a banana like a misanthropic chimp.

Tue, 04/08/2014 - 11:31 | 4635713 outamyeffinway
outamyeffinway's picture

And this changes......what?

Tue, 04/08/2014 - 11:42 | 4635756 Thought Processor
Thought Processor's picture




The sad part is that this is actually news to some people.

Tue, 04/08/2014 - 11:49 | 4635776 maskone909
maskone909's picture

this is why i ZeroHedge

excellent job Tyler! excellent!

Tue, 04/08/2014 - 17:01 | 4636903 Anusocracy
Anusocracy's picture

The sad part is that after all the information and evidence available, people still fall prey to the siren song of government.

Tue, 04/08/2014 - 12:00 | 4635813 drendebe10
drendebe10's picture

Wow!  What a shocking revelation.  And no less under the watch of the disrespectful, arrogant, narcissistic, pathological lying, illegal alien kenyan muislim sociopathic ignoramus fudge packer in chief.  Who woulda thunk it... absolutely flabergasting.... 

Tue, 04/08/2014 - 12:03 | 4635833 Itchy and Scratchy
Itchy and Scratchy's picture

'Change You Can Believe In' baby!

Tue, 04/08/2014 - 12:20 | 4635924 Dollarmedes
Dollarmedes's picture

Don't worry, Senator Elizabeth Warren is on the case. She'll fix it...just like Senator Chris Dodd and Representative Barney Frank "fixed" it. Yeah...the market is certainly "fixed."

Tue, 04/08/2014 - 13:15 | 4636128 Buckaroo Banzai
Buckaroo Banzai's picture

You mean Senator Lie-awatha? Senator Faux-cahantas? Senator Sack-a-sewage-ia?

Tue, 04/08/2014 - 16:00 | 4636730 Offthebeach
Offthebeach's picture

How much porn can a man watch? Day after day, year after year. You remember when the before you  fat, snagle toothed beastealtrix was  a possible cp illegal. Heck, you remember when the stallion was a colt. Your member lays limp dead and cold, your pants lumped at you cankles. The emals pile up, unanswered.


 A life wasted as a gov boy with a hump job. Your retirement to a new, forth rate South Carolina "estate", fishing for crappie looms before you. Pre death. Kafkaesque, American doublewide. You mind drifts. You think about the South Carolina waiting period for a Italian shitgum.......

Tue, 04/08/2014 - 12:51 | 4636039 kchrisc
kchrisc's picture

The presence of a lawyer is the indication that something is dead or dying. The more lawyers...

Tue, 04/08/2014 - 12:24 | 4635941 Boxed Merlot
Boxed Merlot's picture

Kidney Failure...


Amen.  This guy was around during the original William Black era of S&L prosecutions and maybe had a bit of a conscience back then.  He should have learned Control Fraud can take on many forms including stock options, ( ), conflicts of interest and co-opted corporate governance personnel.  He's had a front row seat to see to it these self same failures became features in this state run institution he spent his career at as well. 

I suppose one can only hope his own nest is feathered with nothing more than the same vaporous frns being used to scourge those he was sworn to protect.


By the way, stock options will probably go down as the last bastion of buying stocks at market rates when the post mortem is performed on this latest chapter of the US experiment in "self governance".



Tue, 04/08/2014 - 15:04 | 4636600 Son of Loki
Son of Loki's picture

Yes. I recently watched a lecture/interview with some high level econ professor from Princeton. He said back in the 1980s over 700 bankers were indicted...this time....Zero.

He said the present situation is seriously screwed up.

Tue, 04/08/2014 - 10:55 | 4635564 Oh regional Indian
Oh regional Indian's picture

Wonders will never cease. A Kidney  grew a pair of ballz.

jurassic dystopia...the end of bitterness...


Tue, 04/08/2014 - 10:56 | 4635568 LawsofPhysics
LawsofPhysics's picture

Indeed, certainly are a lot of useless paper-pushing fucks "finding God" lately...

Meh, that which cannot be sustained, wont be.

Hedge accordingly.

Tue, 04/08/2014 - 19:44 | 4637464 Greenskeeper_Carl
Greenskeeper_Carl's picture

at least he did come out and speak about how wrong all this is, perhaps a little late. Playing devils advocate here, but he could have stuck around in the niave belief that he could actually bring about change while he was there. he may well have stuck around just long enough to collect a pension, but he also could have spent his time actually trying to do what he was supposed to do. Either way, we should be appreciative that he is speaking out now. Better late than never. talking people down because they should have spoken up sooner isnt going to make much progress

Tue, 04/08/2014 - 10:57 | 4635573 philipat
philipat's picture

I truly wish that ONE of the bastards involved in manipulating Gold, from either JPM or BIS, would come forward. Although, of course, the risk of being "Suicided" must be kept in mind........

Tue, 04/08/2014 - 17:36 | 4637013 Wahooo
Wahooo's picture

Nothing more than a towel boy.

Tue, 04/08/2014 - 11:53 | 4635787 fleur de lis
fleur de lis's picture

They would shoot the messenger. They want "team players" -- isn't that the most annoying term in corporate life? Reporting problems would only alert the head honchos about a "problem" employee who follows the rules. Can't have that! Round and round it goes, where it stops nobody knows.

Tue, 04/08/2014 - 10:49 | 4635534 Two-bits
Two-bits's picture

Yes, but now I hear that through a new government contract with Dewalt, each retiring US government shill receives a safety-less nail gun with earned outgoing compensation packages.

Tue, 04/08/2014 - 17:11 | 4636941 PT
PT's picture

The alternative is to be a whistle-blower and we know what happens to them.  But who remembers the whistle-blowers or even the whistles they blew?


Not justifying anything, just saying.

Tue, 04/08/2014 - 10:45 | 4635518 Skin666
Skin666's picture

Free John Corzine damnit!

Tue, 04/08/2014 - 11:55 | 4635795 fleur de lis
fleur de lis's picture

Since when was Corzine not free? He's running wild and free like every other SEC street rat.

Tue, 04/08/2014 - 13:16 | 4636134 Buckaroo Banzai
Buckaroo Banzai's picture

You missed the delicious sarcasm, I guess.

Tue, 04/08/2014 - 14:00 | 4636321 fleur de lis
fleur de lis's picture

You're right, I thought he was serious.

Tue, 04/08/2014 - 17:13 | 4636950 PT
PT's picture

It's definitely not one of my favourite sayings they have around here.  I'm always worried about how many people won't get it.



Tue, 04/08/2014 - 10:48 | 4635521 Ignatius
Ignatius's picture

I don't understand his complaint at all.

What's the point of owning regulators if they're not going to look the other way?

It's just simple logic.

Tue, 04/08/2014 - 10:55 | 4635565 NoDebt
NoDebt's picture

I don't get it either.  Does this guy not understand the concept of "investment"?  When you "invest" in your regulator, you expect a healthy return.  Seems like it's working just fine to me.

In other news.... Sam Zell was on CNBC defending the 'carried interest' tax loophole (where a manager of an investment group gets to declare his management income as capital gains, even though he didn't have any of his own money in the fund).  Short version:  you have to keep offering this lower rate to these managers or all of capitalism will collapse.

Tue, 04/08/2014 - 10:47 | 4635524 kk1532003
kk1532003's picture

fuck this asshole.  He's part of the problem for 30 years and now he grows a conscience? You're on the list shitbag.  I just hope those that you fucked for 30 years live long enough to pay it back to you in spades...

Tue, 04/08/2014 - 10:53 | 4635553 HamRove
HamRove's picture

At this point, I think he'd rather be on your list than the bankers list...they're dropping bodies all over the place.

Tue, 04/08/2014 - 10:55 | 4635563 Keyser
Keyser's picture

Lt's put the shoe on the other foot... Would you destroy your career to "do the right thing"? 


Tue, 04/08/2014 - 11:11 | 4635625 Buckaroo Banzai
Buckaroo Banzai's picture

Sure. Lots of people have. It's called "going Galt."

Tue, 04/08/2014 - 11:13 | 4635636 TheMeatTrapper
TheMeatTrapper's picture

Yes. I have. Funny thing, my career is turning out just fine. I make more money, have a clear concious and everybody knows exactly where I stand. You can do the right thing and prosper. It just takes a little bit of balls and self respect to do it. 

Unfortunately, most people are pitiful cowards who have neither. 

Tue, 04/08/2014 - 11:37 | 4635739 Keyser
Keyser's picture

Alas, I regret that folks of your ilk are a dying breed... Good on you for standing by your beliefs... 


Tue, 04/08/2014 - 11:38 | 4635746 HardAssets
HardAssets's picture

Lets put the shoe on your other foot . . . . .

Would you destroy the futures & freedom of your children and grandchildren for your 'career' of lies and theft  ?

Tue, 04/08/2014 - 12:15 | 4635898 Pee Wee
Pee Wee's picture

Did you say other foot?

Your children are already in the meat grinder - no future, no freedom, all debt, all war, all the time.

Tue, 04/08/2014 - 11:53 | 4635777 4 wheel drift
4 wheel drift's picture

Would you destroy your career to "do the right thing"? 


the better question is.....  if you are a carreer criminal, why would you do anything to ruin your carreer...?




apparently his sudden found "integrity" allows him to sing like a bird ?  i would like to ask the guys in prison who were sent there as a token proof of the SEC "good work" their opinon of the man and the institution


a thief who steals from other thieves........


Tue, 04/08/2014 - 17:21 | 4636979 PT
PT's picture

I must say, it is a bloody scary thing to quit your job on the spot when you have no other job to go to and no idea.  But I've done it and had no regrets.  (Okay, actually, I didn't quit on the spot.  It took me all weekend to think about it.)  I recommend it to anyone.

Tue, 04/08/2014 - 11:13 | 4635637 dontgoforit
dontgoforit's picture

If he had tried to whistleblow anywhere along the line, they would have blown him out of the way; figuratively or literally, you pick.

Tue, 04/08/2014 - 11:19 | 4635657 NotApplicable
NotApplicable's picture

If he had only been there for 10 years, I'd cut him some slack.

But 30???? He is just as much a part of the problem as the assholes he's been carrying water for all of these years.

He could've at least leaked out some supporting documentation.

Tue, 04/08/2014 - 17:23 | 4636985 PT
PT's picture

You beat me to it:  He could at least have documented the problems and sent multiple copies to friends, strangers, the press and the interwebs.

Tue, 04/08/2014 - 11:17 | 4635647 NotApplicable
NotApplicable's picture

Thirty years as a Useful Idiot.

Did he really not understand how all of his efforts only provided cover for the criminals in higher paygrades?

Fuck him, indeed!

Tue, 04/08/2014 - 12:10 | 4635873 Bangin7GramRocks
Bangin7GramRocks's picture

It may have been better 20 years ago. They used to put those fuckers in jail. Something changed and now they are all immune to justice. The Enron crew did some real time for the shit that JP Morgan practically brags about in analyst calls.

Tue, 04/08/2014 - 13:15 | 4636129 BidnessMan
BidnessMan's picture

Lots of small town S&L folks went to jail after the Savings & Loan debacle in the late 1980's.  The WS crowd learned how to insulate themselves.  Lawyer up, pay some trivial fine of 1% - 2% of the gain but seems impressive to the muppet voters making $50K a year, and have a junior analyst or two do a perp walk for the 6pm news.  It really is not that complicated.  

Even Ray Charles could see it.  The SEC doesn't see it because they don't want to see it.

Tue, 04/08/2014 - 13:20 | 4636152 Buckaroo Banzai
Buckaroo Banzai's picture

Yes, the S&L crisis was a wonderful way for Wall Street to dispose of the competition. How can you have a well-organized securitized mortgage industry if thousands of little S&Ls are out there making loans, all willy-nilly?

Don't confuse one brand of useful idiocy (using the cops to wipe out your competition) with another brand of useful idiocy (cops doing nothing).

Tue, 04/08/2014 - 15:01 | 4636586 Bananamerican
Bananamerican's picture


Mission fucking accomplished

Tue, 04/08/2014 - 16:16 | 4636789 dizzyfingers
dizzyfingers's picture

Bananamerican  S&L was a test, what might happen if they took the whole pie instead of a slice. GWBush among others ran out the statute of limitations on his friends' abuses of the public. Very little happened, so they had the imprimatur for the whole pie.

Tue, 04/08/2014 - 10:47 | 4635525 Leveraged Algorithm
Leveraged Algorithm's picture

They are still too busy watching porn and going after only the little guy. Pricks they are...

Tue, 04/08/2014 - 10:48 | 4635527 prains
prains's picture

SEC, DoJ, CIA, FBI, NSA, DEA they're all there to protect the status quo against YOU !!

Tue, 04/08/2014 - 11:14 | 4635638 dontgoforit
dontgoforit's picture

Wonder how all those congressmen/women & senators all get rich.....

Tue, 04/08/2014 - 10:48 | 4635528 Cacete de Ouro
Cacete de Ouro's picture

No mention of midgets?

Tue, 04/08/2014 - 10:48 | 4635529 Infinite QE
Infinite QE's picture

"His name was James Kidney. The latest nail gun suicide victim."

Tue, 04/08/2014 - 10:49 | 4635536 nickels
nickels's picture

He'll be prosecuted for violating his non-disclosure agreement. May he rest in peace.

Tue, 04/08/2014 - 10:49 | 4635538 williambanzai7
williambanzai7's picture

Tue, 04/08/2014 - 11:10 | 4635621 Pure Evil
Pure Evil's picture

Shouldn't it say: "To Masterbate and Ejaculate" on the side of the vehicle instead of "To Protect and Serve"?


Now if the original intent is To Protect and Serve the bankster elite, then carry on, you're doing a fine job Brownie!

Tue, 04/08/2014 - 10:50 | 4635540 Dr. Richard Head
Dr. Richard Head's picture

This confession is like a fart in the wind of the mind-numbing zombie population.  If there ain't no titties, affairs, or sports involved the majority population will hear none of it.

Tue, 04/08/2014 - 11:01 | 4635580 Oh regional Indian
Oh regional Indian's picture

Yes doc, what we need is a fart after a mexican spicy chillie bean lunch in a crowded elevator and everone is already sweating.

and it is one of those straight to the 108th.

that is how far this thing has gone. But you what they say, desperate times and all...


Tue, 04/08/2014 - 11:16 | 4635644 dontgoforit
dontgoforit's picture

Like a pond in a flood.

Tue, 04/08/2014 - 11:25 | 4635683 BeetleBailey
BeetleBailey's picture

Absolutely correct. The MSM of fuck brains won't air a word of this.

I am continually amazed and saddened of how fucking DUMB my fellow Americans truly are.


Tue, 04/08/2014 - 11:31 | 4635714 Dr. Richard Head
Dr. Richard Head's picture

Indeed.  A quick view of the news aggregators (HuffPo, Drudge), as well as the MSM outlets (FOX, CNN, MSNBC) are focusing on other distractions.  Like a fat toppless bitch ransaking a McD's for some ice cream or something.  Obama could come out on national television and lay out the fraud in complete detail and the citizens of the US would just glaze over.  Fuck me....

Tue, 04/08/2014 - 11:40 | 4635749 Ban KKiller
Ban KKiller's picture

But we are "Amused to Death".                Roger Waters, 'natch. 

Tue, 04/08/2014 - 10:50 | 4635541 ThisIsBob
ThisIsBob's picture

Penthouse? In warfare, a position is more easily defended from above than from below.

Tue, 04/08/2014 - 11:02 | 4635581 Ignatius
Ignatius's picture

I remember my days in the penthouse at mega-fracking-water-fouling-GMO poison-pharma death-MIC-surveil everyone-fiat empire, Inc., and I can tell you that if there's a broken window on the first floor, I would want to know "why?" I want to know "who?" and I want to make sure the culprits know that this insolence WILL NOT be tolerated.

Tue, 04/08/2014 - 10:51 | 4635547 PlusTic
PlusTic's picture

So much for getting a Wall Street job least he has some balls, no wonder he had to leave

Tue, 04/08/2014 - 10:51 | 4635548 agstacks
agstacks's picture

His tax return will be flagged.

Tue, 04/08/2014 - 10:51 | 4635549 williambanzai7
williambanzai7's picture

Tue, 04/08/2014 - 10:52 | 4635551 Euro Monster
Euro Monster's picture

Oh boy! Such a brave man...  give him a rope!

Tue, 04/08/2014 - 10:53 | 4635552 Payne
Payne's picture

There is no integrity to his comments only sour apples.  I hope that he loses the value of his pension to Wall Street shenanigans. Hopefully soon.  Prison guard at the Gulag complaining after 30 years of service.

Tue, 04/08/2014 - 11:00 | 4635555 williambanzai7
williambanzai7's picture

It wasn't always this way there. Google Judge Stanley Sporkin. They should just shut the agency down now. Total waste of money.

Tue, 04/08/2014 - 10:54 | 4635558 ZombieHuntclub
ZombieHuntclub's picture

Some animals are more equal than others

Tue, 04/08/2014 - 10:55 | 4635561 Kaiser Sousa
Kaiser Sousa's picture

boy, the Dow is trading perfectly normal...

buy stawks.

Tue, 04/08/2014 - 10:57 | 4635562 Mercury
Mercury's picture

Wow: another "erudite" former cog in the systemic wheel goes off the reservation and gets all tinfoil bloggy on us.


It seems like  Zero Hedge is the new black this spring...

Tue, 04/08/2014 - 10:56 | 4635567 Seasmoke
Seasmoke's picture

Fuck him. HE SUCKS COX.

Tue, 04/08/2014 - 11:01 | 4635569 Dr. Engali
Dr. Engali's picture

 Kidney will suddenly develop family problems and commit suicide by multiple nail gun wounds to the back of the head while throwing himself over an embankment and rolling into a parking garage where he will be found hanging with a gunshot wound next to a smart car.

Tue, 04/08/2014 - 10:56 | 4635570 Doubleguns
Doubleguns's picture

Keep bitching and it will all be fixed overnight. Yea right!!


To fix this keep repeating Rand Paul, Rand Paul, Rand Paul till November 2016 and 8 years beyond......and thats still not a guarantee but its the best we got without resorting to bullets, ropes, lanturns and pitchforks, of course they WOULD be more fun. 

Tue, 04/08/2014 - 11:03 | 4635588 medium giraffe
medium giraffe's picture

Given the amount of debt that matures then, I'd say the year 2016 will probably be cancelled.  Oh well.

Tue, 04/08/2014 - 15:14 | 4636626 Doubleguns
Doubleguns's picture

Headline says:

With the Help of Bush Family Lieutenants, Rand Paul Raises $1.6 Million in First Quarter of 2104


Sorry but we are a long way from 2104. Did you read the article? 

Wed, 04/09/2014 - 12:25 | 4639590 WillyGroper
WillyGroper's picture

I suppose you can't identify a typo when you see one.


Tue, 04/08/2014 - 16:33 | 4636827 dizzyfingers
dizzyfingers's picture


 Disappointment but no surprise. Trout snapping at fly.  

Tue, 04/08/2014 - 10:57 | 4635574 samsara
samsara's picture

Tragedy was the scene today when a Mr. Kidney commited suicide using a Nail Gun, while in a hot tub,  in a   single engine aircraft........

Tue, 04/08/2014 - 11:36 | 4635737 Ban KKiller
Ban KKiller's picture

...while drinking whiskey shots and popping black tar. 

Tue, 04/08/2014 - 10:58 | 4635575 FreeNewEnergy
FreeNewEnergy's picture

HFT? Is that a porn site? No? Well, then no interest. Hey, look at those gazongas!

Tue, 04/08/2014 - 11:00 | 4635577 ArkansasAngie
ArkansasAngie's picture

We don't really have an economic problem, we have a political problem ... and their names be Democrats and Republicans.

Throw the bums out


Tue, 04/08/2014 - 11:11 | 4635628 BeetleBailey
BeetleBailey's picture

Exactly. I am loving these Obamaviks that defend their "man". I love to see them get all huffy and get in my face about Fuckbama.

Ditto the war mongering fuck-toads on the Republican side; just as nasty and clueless.



Here I see another fucking Kennedy is running for office (Teddy's son)...


Tue, 04/08/2014 - 11:02 | 4635583 Gamma735
Gamma735's picture


Is there anyone left that trust Washington, D.C. or Wall street.  The American people have battered wife syndrome.   But wait until we set the bed on fire.

Tue, 04/08/2014 - 11:05 | 4635585 Notsobadwlad
Notsobadwlad's picture

My assumption is that "good people" do not find their way to the penthouses of banking, industry, media or government... regardless how talented. Good people would disrupt the system of graft, corruption and mutual admiration. Magnificent titles and graven idol  to themselves within this club abound.

One can therefore assume that the closer to the top, the bigger the schmuck.

Tue, 04/08/2014 - 11:57 | 4635800 zipit
zipit's picture

Yes, apparently corruption and sociopathy win in this Bizarro World we live in.  Was it "always" like this?  Will it "always" be like this?

Tue, 04/08/2014 - 11:04 | 4635589 hotrod
hotrod's picture

No wonder India's population just buys gold. 

Tue, 04/08/2014 - 11:06 | 4635593 Rainman
Rainman's picture

Nothing could be more exhilirating than throwing monkey shit all over the place at your retirement party. But upstairs in the corner office he will be described as a an old grumpy dinosaur who just needed to go. Same as it ever was in the underworld of statist corruption . 

Tue, 04/08/2014 - 11:11 | 4635631 ZeroRights
ZeroRights's picture

They lose their conscience, like many top brass, they don't want to create waves because they enjoy the paychecks, rewards and benefits provided them. Typical of most higher echelon in all systems i.e. government, bureaucracies, corporations, clubs and any entity, assembly or organizations that have human participation. Another perfect example is the numerous GM recalls caused by the decision maker not wanting to rustle any feathers, hoping retirement is just around the corner and then the other guy will have to deal with it.  

Tue, 04/08/2014 - 11:14 | 4635639 justsayin2u
justsayin2u's picture

So what would we be missing if we just cut all these agencies in half?  Lower taxes?  Lower defecits?

Tue, 04/08/2014 - 11:19 | 4635659 caustixoid
caustixoid's picture

The Chappelle Show had a great episode showing how deferential the law is towards  white-collar criminals.  The comedy is that they treat the whie-collar criminal like a black man, and the drug dealer like a bankster:

Police: "I have a warrant here for your arrest for [serious crimes]....and frankly I don't know how to handle it"

Chappelle: "We gotta be careful with this -- we don't want someone like me embarrassed in front of my family and my whole community... I'll tell you what, I'll turn myself in Thursday"

Police: "Is 1 o'clock good for you?"

Chappelle:  "oh no, that's no good... I'll turn myself in between, say, 2 and 6?"

Police: "Thank you so much for your help and again I'm sorry for the inconvenience".

Tue, 04/08/2014 - 11:38 | 4635742 Tinky
Tinky's picture

Though "Black Bush" is my all-time favorite, the one you linked is excellent.

Tue, 04/08/2014 - 11:29 | 4635703 nantucket
nantucket's picture

who knows, maybe he used his position inside to advocate for change and he didn't make much progress.  now he's out he's trying to change it from the outside.  just because he didn't go public in the past doesnt mean he wasn't advocating for change all along.  none of you jack holes know that.  i don't know one way or the other.  eff everyone. 

Tue, 04/08/2014 - 15:09 | 4636472 RaceToTheBottom
RaceToTheBottom's picture

Actually the article does indicate that he was trying to change it from the inside.

And his career suffered because of it.

So the lesson might be:

  • stay at the edges, do nothing halfway.
  • Either be the most corrupt SOB SEC possible, or
  • Pull a Snowden and make copies of all the Databases and send them to the NYTs


Being a regular Joe is no way to live a life.

Tue, 04/08/2014 - 14:42 | 4636521 Blood Spattered...
Blood Spattered Banner's picture

Oh please, this career bureaucrat is trying to save face, and stay on the right side of history.

30 years and he was as worthless as tits on a boar.  There were plenty of opportunities to resign out of protest.  After the SEC elected to not prosecute GS (even after congress handed them a solid case), he should have publicly resigned and made a stink about it.

This man is a coward of the highest order.  He had a chance to make an impact, and he failed.  Now he is feigning populism to save his own ass. 

Tue, 04/08/2014 - 11:30 | 4635706 Rising Sun
Rising Sun's picture

Turn to Orwell - two systems, two sets of rules.


That fucking cocksucker Holder needs a baseball bat over the head - DOJ - department of jerking off.


SEC is a sideshow.  SEC is running loose because DOJ is run by a piece of rotten shit - that's you Holder you fucker!!!!!!!!!

Tue, 04/08/2014 - 11:31 | 4635718 Kyloe114
Kyloe114's picture

If I was one of these individuals that had truth to speak with the bravery to speak from a conscience. And I saw the level of anger and cynicism out there. It certainly wouldn't be an encouraging factor.

Tue, 04/08/2014 - 11:38 | 4635743 TrustWho
TrustWho's picture

We are all cowards. We disgrace our Founding Fathers memory and sacrifice. We know this and do nothing!

Tue, 04/08/2014 - 11:41 | 4635751 medium giraffe
medium giraffe's picture

Cheer up, at least you haven't got a Monarch. 

Tue, 04/08/2014 - 11:54 | 4635789 TradingTroll
TradingTroll's picture

We'd be better off under Gaddafi

Tue, 04/08/2014 - 12:00 | 4635811 Ban KKiller
Ban KKiller's picture

Isn't he buried?

Tue, 04/08/2014 - 12:14 | 4635895 Chuck Knoblauch
Chuck Knoblauch's picture

He's alive and well mining gold in NW Africa.

Tue, 04/08/2014 - 14:40 | 4636512 zipit
zipit's picture

It's easy to piss on things, isn't it.

Wed, 04/09/2014 - 16:57 | 4640797 TrustWho
TrustWho's picture

Not reaally....words precede action. Every signer of Declaration of Independence made a decision that caused their life to be more harsh so they and their fellow citizens could be free. Few people would make that choice today, but the numbers are growing.

Tue, 04/08/2014 - 11:44 | 4635759 Ban KKiller
Ban KKiller's picture

Well all I know is that they answered the phone there. I could always get someone to give me some help in looking up one security or another. Foreclosure defense, don't you know. So, they had time to talk to me, joe schmo, because they were not busy doing anything else...ok, got it. 

Fuckers of dogs. 

Tue, 04/08/2014 - 11:55 | 4635791 zipit
zipit's picture

He is lucky he didn't wind up in the Witness Eliminaton Program.  I suspect the Suicide Banker's Club will soon open up to guys like this.

Tue, 04/08/2014 - 11:55 | 4635793 ZeroRights
ZeroRights's picture

We have something nefarious going on the Post Dept. Someone is putting -1 on almost every post. Unless it's an algorithm gone wrong?

Tue, 04/08/2014 - 11:55 | 4635794 Kyloe114
Kyloe114's picture

Some of us are cowards and some of us are not. Some of us practice mental alchemy in regards to what kind of world we want to inhabit and some of us are control by our external emotional experiences.


Tue, 04/08/2014 - 12:02 | 4635808 Chuck Knoblauch
Chuck Knoblauch's picture

SEC crooks want jobs on Wall Street.

The revolving door between government and WS strikes again.

I liked the article posted by ZH on SEC scumbags trading on insider information.

SEC is nothing but a market maker for insiders. Shameful state of affairs.

Tue, 04/08/2014 - 12:00 | 4635814 Itchy and Scratchy
Itchy and Scratchy's picture

Too big to fail baby!

Tue, 04/08/2014 - 12:05 | 4635844 adonisdemilo
adonisdemilo's picture

ooops! another poor sod heading for an "accident"

Tue, 04/08/2014 - 13:04 | 4636079 BidnessMan
BidnessMan's picture

Hope he does not own a nail gun.

Tue, 04/08/2014 - 12:06 | 4635847 Itchy and Scratchy
Itchy and Scratchy's picture

American Exceptionalism baby!

Tue, 04/08/2014 - 12:06 | 4635850 VWAndy
VWAndy's picture

Kidney about those MBS? And about those fanta seconds? While we are having a come to jesus moment. The airline shorts just prior to 911? All on your watch. 30 years of spanking it, turns out it does cause a kind of blindness. A selective blindness. Maybe he should be the one to explain to all the cops what happened to thier pensions. On his watch.

Tue, 04/08/2014 - 12:08 | 4635861 Itchy and Scratchy
Itchy and Scratchy's picture

Moral Non-Hazard baby!

Tue, 04/08/2014 - 12:11 | 4635879 Chuck Knoblauch
Chuck Knoblauch's picture

The sad thing is that government knows how to fix the problem, but they just wont do it.

Is it too late for firewalls? I guess it is.

Tue, 04/08/2014 - 16:36 | 4636837 dizzyfingers
dizzyfingers's picture

Chuck Knoblauch  Wake up! Government is one of TPTB.

Tue, 04/08/2014 - 12:14 | 4635886 Jack Burton
Jack Burton's picture

Of course we all knew that to be true, but I thank him for coming clean in any case! Look, the whole country is run this way, people on the bottom floor are policed by a massive and intrusive police state, the prisons are jammed to overflowing with little people for petty crimes, while up in the penthouse the cops never go there unless forced to by a violent crime reported by a penthouse occupant. America long ago decided to enforce laws only on little people and to enforce them with maximum violence and brutality. As for people at the top, as long as they don't strangle the wife and kids, it is anything goes.

Any cop and regulator KNOWS you don't go after important or rich people. Look at the rich, like in LA, they live in a sea of drugs, they do what they want, while the Black Punk on the street is beaten, tazered, and locked up for 25 years for a few traces of crack. Why is that? You know why, we all know why, but few have the courage to admit that this system is run by an elite that is mainly untouchable by law and by regulation. Own up to reality, we little people are the grass and government is the lawn mower!

Tue, 04/08/2014 - 12:21 | 4635928 Itchy and Scratchy
Itchy and Scratchy's picture

'Dreams of my Father' baby!

Tue, 04/08/2014 - 12:24 | 4635940 Chuck Knoblauch
Chuck Knoblauch's picture

Mamma's, don't let your babies grow up to be (WS) cowboys.

Tue, 04/08/2014 - 13:18 | 4636133 kurt
kurt's picture

In San Diego we had a case where a maid hung herself from a chandelier off a 14 ceiling 5 feet off a stairway but only AFTER she tied her hands behind her own back. 

Our yokel news, plain faced, reported that the maid was dispondent after the super-rich owner's child fell down the stairs. That's why she (was) killed herself.

This news lasted one news cycle. The house is sold now. I don't guess it matters because the victim was an ethnic type. 

Tue, 04/08/2014 - 12:25 | 4635945 Atlantis Consigliore
Atlantis Consigliore's picture

"SOYLENT LAW",  Its FUUKING PEOPLE.....   lol,  cmon lawyers, realtors, and honorable Senators, say it with a Lisp, Bend over and get your FUUKING due, SHEEPLE.

SOYLENT LAW IS BULLSHIT. ON THE SHEEPLE. if you wanna know watch CURB,   you sheeple. in Washington NY and LA.

Tue, 04/08/2014 - 12:42 | 4636002 rosiescenario
rosiescenario's picture

So GS made this guy a low ball job offer and he is pissed?

Tue, 04/08/2014 - 13:49 | 4636244 dumbStruck
dumbStruck's picture

Don't know where to post this, here's as good a place as any...from the always excellant TomDispatch website a true horror story. Rental backed securities have been mentioned on zh before but this story makes you want to go on a nail gun rampage somewhere.

"If Wall Street's need for speed doesn't cause the next Great Crash, TomDispatch regular Laura Gottesdiener knows what might. As she wrote in November, massive investment firms are building a "rental empire," buying up foreclosed properties by the thousands, renting them back to working people, and bundling up those properties to sell to Wall Street. It's an ingenious scheme reminiscent of the subprime mortgage machine --"

Tue, 04/08/2014 - 16:26 | 4636811 dizzyfingers
dizzyfingers's picture

dumbStruck As long as it is allowed, it will continue. There is no fear of consequences in TPTB because effective consequences can only come from above them, not from below. They fear nothing because nothing will happen.

Tue, 04/08/2014 - 17:00 | 4636900 gregga777
gregga777's picture

I read the TomDispatch article and I was shocked not only at the violent criminality that the 1%'ers are using to force renters out of NY City apartments but also the unwillingness of the NY City authorities to stop them.

The 1% is waging violent war on the 99% and I suggest that it's time to engage them on their chosen playing field.

Tue, 04/08/2014 - 13:52 | 4636268 3.7.77
3.7.77's picture

Nothing to see here, only a disgruntled employee..

Of course things weren't so bad he would quit sucking on the tit.

Tue, 04/08/2014 - 13:57 | 4636298 gregga777
gregga777's picture

The United States of America is corrupt, rotten to the core. Stop participating in the charade that this is still a free country.

• Don't vote. Voting gives the corrupt regime the aura of legitimacy.
• Don't respond to jury notices. But, if you do respond, and you are on a jury, refuse to find anyone in 99% guilty. Always vote innocent. For any elites, always vote guilty.
• Don't voluntarily pay any taxes.
• Don't voluntarily do anything to feed the corrupt system.
• Don't take jobs in the prison state sector (police, prison guards, other prison jobs, etc.).

In short, use mass civil disobedience to reveal that the 99% will no longer be complicit in supporting the corruption.

Tue, 04/08/2014 - 14:23 | 4636445 Iam_Silverman
Iam_Silverman's picture

"Don't respond to jury notices. "

Funny you should say this.  My wife was summoned for jury duty just yesterday.  The judge looked out over those assembled and started counting.  He then looked to the deputy in attendance and told him to find all of those who were on the list and didn't show up or call.  He explained to those in attendance that they had just avoided a $250 contempt of court fine!

Tue, 04/08/2014 - 15:22 | 4636647 TPTB_r_TBTF
TPTB_r_TBTF's picture

Oh?! Only $250 to opt out?! Your Honor?  Where do I go to pay the $250?

Tue, 04/08/2014 - 14:58 | 4636519 rustymason
rustymason's picture

I understand the sentiment but this list is wildly impractical. A small handful of people might be able to do thses things, but not most. We are in a giant prisoner's dilemma.

Tue, 04/08/2014 - 19:35 | 4637416 MeelionDollerBogus
MeelionDollerBogus's picture

Slavery is so much more practical, as is complicity, and that's the entire shape of the game, the total chess strategy.
If you will do only what is convenient you can be only a slave - guaranteed. Most people can do these things but are unwilling for their conditioning, as was pointed out by Cognitive Dissonance in a recent article.
This is also the real theme of the Chain of Obedience, a video on youtube by Stormcloudsgathering.

Tue, 04/08/2014 - 18:49 | 4637311 falconflight
falconflight's picture
  • Stop feeding a media complex that uses your paid entertainment dollars to destroy your Liberties (Disney, Hellywood, Television cable/satellite.)
  • Do Not use debit cards and/or credit cards as much as you used to...try to use cash more often.
  • Right now I have the Census Bureau hounding me to comply and fill out their Un Constitutional form.  Fck them...after 7 notices, fuck them.  They'll have to travel down my rutted, muddy, hilly private road to send a live body to my dwelling.  Their various notices encouraged me to save the TaxPayer's money...what incredible dishonesty.  I want to slow down their progress in any way that I can get away with. 
Tue, 04/08/2014 - 14:14 | 4636312 RaceToTheBottom
RaceToTheBottom's picture

Poor guy, just found out he only has enough retirement to play muni golf and is trying to acclimatize to his new buddies....

Tue, 04/08/2014 - 14:03 | 4636330 conspicio
conspicio's picture

Funny how selective many are around here with their alternating cries of "GET GOVERNMENT OUT OF OUR LIVES" or "STOP MANIPULATING THE POPULACE" and then in this instance "WTF IS GOVERNMENT DOING NOT ENFORCING REGULATIONS AGAINST THE BANKSTERS?"

And yes Tylers, we're looking at you...

Tue, 04/08/2014 - 19:27 | 4637407 MeelionDollerBogus
MeelionDollerBogus's picture

Look at it this way: eventually you want them out but for the time being they have a job to do and you've already paid for it. So the alternative is you paid them to do nothing, or paid them to pretend to do something. The future is about stopping payment to stop the corrupt/corruptible jobs from existing but to date they've already been paid so don't you want value/action for a service you've already been billed for?

Tue, 04/08/2014 - 14:21 | 4636429 Iam_Silverman
Iam_Silverman's picture

"a retiring SEC trail attorney veteran"

So, an off-road lawyer is going to retire - to the city?

Tue, 04/08/2014 - 14:38 | 4636498 rustymason
rustymason's picture

This is to be expected when the merchant class is in charge of everything.

Tue, 04/08/2014 - 19:28 | 4637410 MeelionDollerBogus
MeelionDollerBogus's picture

ELYSIUM class. The merchant-class are below them.

Tue, 04/08/2014 - 14:47 | 4636538 RaceToTheBottom
RaceToTheBottom's picture

I am sure the NSA will back up everything he says.

Tue, 04/08/2014 - 16:09 | 4636708 dizzyfingers
dizzyfingers's picture

Trail attorney, hm? "...a retiring SEC trail attorney veteran..." Never mind, just a quibble but I see more and more of this in articles. Love ZH, would like it to be the best. The mistake in the Frick shooting article was another example, providing mirth, but why not proof read?

Anyway, I think that almost no one in the US today can look at their work or their lives and see their own responsibility for what's not going well for them, and corporations and the government are no exceptions. Posing as the victim is the game today (sort of like ZH's leading comment in this story.  This is news not the martyr challenge ladder.) I think James Kidney's agency cannot be different from the country itself, or we wouldn't be in the trouble we're in. Probably he did point flaws, perhaps many times, but got nowhere, because once people, agencies or the government itself believe they can do no wrong, they won't listen to honest evaluation aka constructive criticism. This may be his last chance to get his bosses to look at themselves. He deserves applause, not snide remarks from people who've likely never been in his shoes nor will be.

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