Accountability! SEC Charges Former Executives

[conspiracybeliever]

The Securities and Exchange Commission (SEC) just announced securities fraud charges against six former executives of Fannie Mae and Freddie Mac. The SEC alleges that Fannie and Freddie intentionally misled investors into believing that the company was less involved with riskier, or subprime, mortgages than was actually true.

Read more...

[Sammich]

The problem I have is that they are being tried in CIVIL court when they should be in CRIMINAL court. I know that the SEC can only bring civil charges, but it would be my guess this is just going to be smoke and mirrors that will make the sheeple think these crooks are really being brought to justice. All that has happened with these civil trial is that the "too big to fail, too big to jail" defendents get fined pennies on the dollar. For example, the overdraft scam that B of A pulled with checking accounts (making sure ALL withdrawals were posted before any deposits) brought them $4.5 billion, but the judge allowed them to settle for $410 million and released them from any further lawsuits regarding the matter. In other words, crime does pay in the world of high level white collar crimes.

Just remember that when you hear about cops busting little kids for selling lemonade, or a mom and dad gets arrested and kid thrown into a foster home because they forgot to pay for a $4 sandwich at the local grocery store.

[Rafterman]

Can we link this thread back to the recent one about how there is no accountability in the financial industries.

Thanks.

[conspiracybeliever]

I know. Still no real change is there?

[Sammich]

I know. Still no real change is there?

If you haven't already read it, here is a very good article from by Matt Taibbi that appeared in Rolling Stone of all places:

Why Isn't Wall Street in Jail? Financial crooks brought down the world's economy — but the feds are doing more to protect them than to prosecute them

"You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bull would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."

[Omnaka]

If you haven't already read it, here is a very good article from by Matt Taibbi that appeared in Rolling Stone of all places:

Why Isn't Wall Street in Jail? Financial crooks brought down the world's economy but the feds are doing more to protect them than to prosecute them

"You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bull would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."

Thanks for the link Sammich (I like your Name) I think this guys post deserves mention, It makes sense to me.

Love Omnaka

"Eliot Bernstein |December 9, 3:54 PM ET

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This serves as further Prima Facie Evidence of their UnAmerican Fascist Activities and their growing Desperation, as they have been caught in criminal acts and fear they will not be able to hold off JUSTICE forever. As with the fascists of yesteryear, as their crimes are exposed, they will try to make all their crimes legal and then when that fails they will claim immunity and when that fails they will claim Only Following Orders and when that fails they shall HANG for TREASON, WAR CRIMES, ECONOMIC TErRORISM and more. As always, NOOSES for those found guilty FREE @ iviewit.tv . One more perk in trying them for their crimes will be recovering ALL THEIR ASSETS UNDER RICO and MORE, estimated 46 TRILLION DOLLARS in STOLEN LOOT. Those monies recovered from their War Crimes and Economic Terroristic Crimes will go a long way in putting us the US back in the black overnight.

Eliot I. Bernstein"

Read more: http://www.rollingstone.com/politics/blogs/taibblog/indefinite-detention-of-american-citizens-coming-soon-to-battlefield-u-s-a-20111209#ixzz1h020XBZO

Heres another, I agree with.

Ron Christian | December 10, 2:41 AM ET

I TOTALLY AGREE!! Anyone who imagines that there is a difference between a red wolf and a blue wolf is simply dinner. ALL of them are bought and paid for by the very rich and the large corporations who paid for their election. And, according to our illustrious Supreme Court, that is perfectly okay. Someday, those Supreme Court justices are going to have their names written in history books, in the chapter entitled "Our Nations Traitors." We need to clean house, fire them ALL, reform the campaign finance laws, and start over. Every person running for office should be allowed an equal, fixed amount of money on which they run. That way, ideas will win elections, not General Electric, Big Oil, Wall Street, or Rupert Murdock. Average citizens would go to prison for what our politicians do every day.

Read more: http://www.rollingstone.com/politics/blogs/taibblog/indefinite-detention-of-american-citizens-coming-soon-to-battlefield-u-s-a-20111209#ixzz1h079gy1f

Edited December 19, 2011 by Omnaka