NY AG Investigation: Why Haven't Wall Streeters Gone to Jail?

[Nic_Driver]

i think the question is a bit more complicated than simple politics and who butters the bread. I'll be the first to lineup any Wall Street folks who committed fraud or violated the public trust.

However...if the complaint is that firms sold worthless MBS's and CDO's to other firms, that in-and-of itself is not illegal by any means. It would only be a problem if they sold assets without proper disclosure. We don't have laws to protect Wall Street firms from their own stupidity.

How about we pass some laws that protect America from wall street's stupidity?

 

[Mr. Shaman]

why hasn't obama gone to jail ?

Shouldn't you be outside, playing, Skippy?

Summer Vacation won't last, forever....and, chances are.....you've got some Winter-weight to shed.

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[Mr. Shaman]

i think the question is a bit more complicated than simple politics and who butters the bread. I'll be the first to lineup any Wall Street folks who committed fraud or violated the public trust.

However...if the complaint is that firms sold worthless MBS's and CDO's to other firms, that in-and-of itself is not illegal by any means. It would only be a problem if they sold assets without proper disclosure. We don't have laws to protect Wall Street firms from their own stupidity.

How about we pass some laws that protect America from wall street's stupidity?

Well.....we HAD some....until Phil Gramm started.....

....playin' with The Rules.

*
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[editec]

NY AG Investigation: Why Haven't Wall Streeters Gone to Jail?

Because Eliot Spitzer got ruined politically before he could put the case together that would have, that's why.

In February 2008, the Washington Post published an op-ed written by Spitzer in which he criticized the Bush Administration for inhibiting States from pursuing predatory lenders.[40]

Eliot Spitzer - Wikipedia, the free encyclopedia

An honest bureaucratic - who was a pain in WALL STREET'S ASS - one with greater political aspirations, happens to be the only JOHN in history to get busted in a FEDERAL prositution sting.

Spitzer first drew the attention of federal investigators when his bank reported suspicious money transfers, which initially led investigators to believe that Spitzer may have been hiding bribe proceeds. The investigation of the governor led to the discovery of the prostitution ring.[82]
In the wake of the revelations, Spitzer announced on March 12, 2008 that he would resign his post as Governor effective at noon of March 17, 2008, amid threats of his impeachment by state lawmakers.[4]

Eliot Spitzer - Wikipedia, the free encyclopedia

Goodbye Eliot Spitzer, presidental possibility, hello Obama from the Chicago Dem. machine.