Why Isn't Wall Street in Jail?

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Why Isn't Wall Street in Jail? | Rolling Stone Politics

Matt has outdone himself this time on this article.

The article is not solely about the housing and derivatives fraud but focuses more on the incestuous relationship between our government and the big boys on Wall Street.

It is a good read at about 6 pages long.

Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer.

"Everything's ****ed up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that."

I put down my notebook. "Just that?"

"That's right," he said, signaling to the waitress for the check. "Everything's ****ed up, and nobody goes to jail. You can end the piece right there."
Here are some choice quotes from the article.

people who simply get their companies to pay their fines for them. Conversely, one has to consider the powerful deterrent to further wrongdoing that the state is missing by not introducing this particular class of people to the experience of incarceration. "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."

But that hasn't happened. Because the entire system set up to monitor and regulate Wall Street is ****ed up.

But a veritable mountain of evidence indicates that when it comes to Wall Street, the justice system not only sucks at punishing financial criminals, it has actually evolved into a highly effective mechanism for protecting financial criminals. This institutional reality has absolutely nothing to do with politics or ideology — it takes place no matter who's in office or which party's in power.

One such example of the corruption on Wall Street involves Gary Aguirre, a SEC investigator who was literally fired for going after John Mack, chariman of Morgan Stanley, involved in insider trading. He was not even trying to arrest Mack, but talk to him, but he was getting to close. In his investigations, he learned that his targets firm was being represented by the former US Attorney overseeing WallStreet.

Aguirre didn't stand a chance. A month after he complained to his supervisors that he was being blocked from interviewing Mack, he was summarily fired, without notice. The case against Mack was immediately dropped: all depositions canceled, no further subpoenas issued. "It all happened so fast, I needed a seat belt," recalls Aguirre, who had just received a stellar performance review from his bosses.

Matt brings many more examples of the corruption involved between our government and those on Wall Street.

It matters not who is in power, democrat or republican because they both serve the same master while dividing the gullible American public along partisan BS.

With Obama you have the revolving door between Wall Street Execs on his team and pack to the private sector to continue thier raping.

With Bush you have the Mega Corps and ex CEO's on his team.

They are all parasites.

 

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Another good quote that sums up Wall Street

The systematic lack of regulation has left even the country's top regulators frustrated. Lynn Turner, a former chief accountant for the SEC, laughs darkly at the idea that the criminal justice system is broken when it comes to Wall Street. "I think you've got a wrong assumption - that we even have a law-enforcement agency when it comes to Wall Street," he says.

 

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It's getting scary out there. The 60's pot-heads who now run Rolling Stone want to put capitalists in jail. I guess they think they won the rovolution now that they have a fascist in the white house.