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Now Too Big To Prosecute

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December 15, 2012 – Comments (10) | RELATED TICKERS: SH , AM.DL2 , E

The dearth of any meaningful prosecutions involving the mortgage and financial scandal speaks volumes in how the game really is rigged against the Average Joe.  All you ever hear from the regulators is how hard it is to prove.  Well first, at least try.  Let the juries decide.  And second then go back to Congress and have them change the laws.  They won't even bother going after Jon Corzine, though how about bringing civil actions instead?  

With the above aside, now we have another reason not to prosecute individuals and that is "too big to prosecute'

 http://www.google.com/url?sa=t&rct=j&q=prosecution%20reasons%20for%20hsbc%20deal&source=web&cd=1&cad=rja&sqi=2&ved=0CDEQFjAA&url=http%3A%2F%2Fwww.rollingstone.com%2Fpolitics%2Fblogs%2Ftaibblog%2Foutrageous-hsbc-settlement-proves-the-drug-war-is-a-joke-20121213&ei=kffMUNj7IcP30gH4hYGgBw&usg=AFQjCNFLac_3SD9bl0pC_V6UDgM3WYKbkg

So prosecutors cry how hard it is to prove cases, but finally when they have a pretty much damn airtight one they change their tune and say well doing so could topple the industry.

Stop fining the shareholders for the criminal acts of others.  It is tiresome and insulting to the Average citizen.  The only message prosecutors are sending is if you are a small fry they might crush you, but top dogs they will get passes and have others pay the fines.

 

10 Comments – Post Your Own

#1) On December 15, 2012 at 7:11 PM, HarryCarysGhost (99.70) wrote:

+1 rec.

And nice work with the tickerage.

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#2) On December 15, 2012 at 7:11 PM, HarryCarysGhost (99.70) wrote:

+1 rec.

And nice work with the tickerage.

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#3) On December 16, 2012 at 12:22 AM, Eudemonic (64.43) wrote:

Civil suits worked against OJ, that's not a bad idea. You'd think Corzine broke some state law somewhere too. Why is no state pursuing Corzine?

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#4) On December 16, 2012 at 1:00 AM, awallejr (83.84) wrote:

Thanks Harry. TMF apparently changed their policy and allowed clever tickeraging.  As for pursuing Corzine civilly ask the US AG or SEC.  He is in the "club" you and I are not in Eudemonic.

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#5) On December 16, 2012 at 1:15 AM, ChrisGraley (29.77) wrote:

Well we do agree on this one in principle, I'll bet you're not willing to admit that the current administration is part of the problem. That's ok. If it helps I'll submit the previous one was just as bad. But you were extremely happy to continue this one, Careful what you wish for.

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#6) On December 16, 2012 at 4:23 AM, HarryCarysGhost (99.70) wrote:

Chris,

Andy has been very clear that he advocates compromise from both sides.

Not a bad plan,man.

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#7) On December 16, 2012 at 12:46 PM, ChrisGraley (29.77) wrote:

No need for compromise on this one. The President is the nation's executive branch. Anyone that he wants prosecuted, gets prosecuted.

 

 

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#8) On December 16, 2012 at 3:53 PM, awallejr (83.84) wrote:

I agree there Chris.  I give Obama a big fat F here.  While he may be right about not involving himself with individual cases he certainly has the authority and the obligation to set "policy" with his various enforcement agencies.  Kennedy did it against organized crime and LBJ with the Civil Rights Act.

We need pitbulls like a Spitzer.  And I wouldn't describe my reaction with Obama's re-election as being happy.  I was actually on the sidelines for awhile. I gave both candidates advice here.  Obama "listened" to me, Romney didn't.

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#9) On December 17, 2012 at 1:58 PM, ChrisGraley (29.77) wrote:

I think compromise between these 2 parties would give us the worst of both worlds. The things they have in common are the exact things that the public hates.

Obama's biggest campaign contributors were the banks. He's not going to prosecute his benefactors. 

 

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#10) On December 17, 2012 at 11:42 PM, awallejr (83.84) wrote:

I have been ragging on this point for ages, don't confuse "common" with "compromise."  They are not the same things.

And I agree that Obama won't force prosecution.  He is more about creating a "legacy" now than doing the right things imo.

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