Quote:
Originally Posted by goofyballer
You see guys, Obama really wants to nab these Wall Street crooks, he just doesn't have the proof! The SEC made out really well by getting Mozilo to settle for like 1/10 of his net worth, because they were gonna get smoked in open court if they actually tried to prosecute him.
Here's another criminal prosecution on Wall Street that Glenzilla forgot about when he stated, in writing, that it was a
FACT that there had been no criminal prosecutions on Wall Street:
2 Bear Stearns Fund Leaders Are Acquitted, November 10, 2009
Is Glenn just stupid and incompetent, or is he just a flat-out dishonest hack?
goofy, do you understand the difference between criminal and civil prosecutions, and the requisite degree of proof for each? Civil is far easier (see OJ).
Do you realize that there have been around 100 civil prosecutions/settlements on Wall Street,
Goldman Sachs,
CountryWide,
Citibank,
Deutsche Bank,
BofA, etc.
The list is not exhaustive, and it includes one state prosecution (CountryWide) b/c fed agencies often unload cases to states when states have better laws and resources to successfully prosecute. Then you have the recent
$26 billion settlement with lenders.
Again, tell me how you propose to prove criminal fraud with no wiretaps?
Whistlerblowers? Good idea.
Whistleblowers Risked Careers for Mortgage Settlement [the recent $26B settlement]
There's another recent case I can't find now wherein a whistlerblower forced a settlement, but it wasn't enough for criminal fraud.
In FACT, guess what the Dodd-Frank law, for which you posted the Jon Stewart/John Oliver funny video to ridicule it, includes?
Dodd-Frank - Title 9 Sect. B - Increasing Regulatory Enforcement and Remedies
Quote:
Subtitle B gives the SEC further powers of enforcement. This includes a "whistleblower bounty program"[134] which is based upon a similar program established by the IRS in 2006; the program allows persons who provide information which leads to a successful SEC enforcement to receive 10 to 30% of the monetary sanctions over $1 million.
When Stars and FTP were indicted for bank fraud, there was the d-bag from Australia who provided emails, records, and testimony. He was essentially a "whistleblower" too, but behind bars, and with access to "proof".
You seem to think you just get outrageously outraged after reading the latest Glenzilla dishonest and factually incorrect screed about "...no criminal prosecutions on Wall Street..., get your marching boots on, march on Wall Street, and drag people to trial. It doesn't work like that. Wall Street will produce far more and far better attorneys than OJ. Criminal Fraud often comes down to he said/she said, unless there are records or wiretaps. My guess is that these Wall Street crooks, with billions of dollars at their disposal to hire the best lawyers, legally insulated themselves from potential legal liability.
P.S. I'm watching Stewart now too, so don't expect a reply to w/e silliness you post, cuz Stewart is funnier than you are, not by much tho.