Oh wow, that's different than what I thought.

FTA "Lehman Brothers did nothing wrong when it booked billions of dollars in phony sales to disguise the true extent of its financial woes."

Seriously? Isn't that a clear cut case of breach of fiduciary responsibility?

If I booked a bunch of fake sales, then showed that to potential or current customers and said "Remain calm. All is well", I'd be up on fraud charges. But of course, I'm "normal folk".

So was the investigation conducted by people who joined the SEC from Lehman, or by people who plan to join Lehman after the SEC?

Quasar: So was the investigation conducted by people who joined the SEC from Lehman, or by people who plan to join Lehman after the SEC?

well the latter group might be a bit disappointed.

pretty much what we all figured was going to happen - none of the people responsible for fraud, theft and the coverup will ever see the inside of a jail cell.

because f*ck you, that's why!

They'll still be decimated and ignored by the BCS for years to come. I doubt that they'll have a national championship team ever again.

thomps: Quasar: So was the investigation conducted by people who joined the SEC from Lehman, or by people who plan to join Lehman after the SEC?

well the latter group might be a bit disappointed.

YOU KNOW WHAT I MEANT

=P

The SEC is the wrong agency for this kind of thing, what we need is a 15 year old girl to accuse Lehman Brothers of rape.

Can we charge those SEC investigators with fraud now?

meat0918: Oh wow, that's different than what I thought.

FTA "Lehman Brothers did nothing wrong when it booked billions of dollars in phony sales to disguise the true extent of its financial woes."

Seriously? Isn't that a clear cut case of breach of fiduciary responsibility?

If I booked a bunch of fake sales, then showed that to potential or current customers and said "Remain calm. All is well", I'd be up on fraud charges. But of course, I'm "normal folk".

Exactly.

$ome people are more equal than others.

This pretty much proves two things:

1 - the SEC is a nothing toothless entity who will only enforce the law against small investors
2 - the upper 1% are not job creators as much as leaches running a Ponzi scam and the conservatives are completely on their side.

Nothing changes.
Nothing will ever be done.
The status quo will constantly side with the garbage at the top, not because they are smarter, better or deserve it, but because they were born to it.
The east coast loves their royalty.

I know, right? I hate it when people who don't commit crimes but whom I don't like aren't prosecuted arbitrarily!

Can't we get this whole "due process" and "innocent until proven guilty" stuff suspended for a while so we can put some rich guys in jail? They must have committed SOME crime, right? They have more money than me!

Debeo Summa Credo: I know, right? I hate it when people who don't commit crimes but whom I don't like aren't prosecuted arbitrarily!

Can't we get this whole "due process" and "innocent until proven guilty" stuff suspended for a while so we can put some rich guys in jail? They must have committed SOME crime, right? They have more money than me!

i'm pretty sure even the Fed agrees that these guys broke the law. it's just that proving it in a court of law would be time consuming AND carry negative political and social repercussions.

That's the beauty of the American political system. Bribery has been legalized.

So you bribe one or more of the 550 Washington DC politicians that hold the reigns of power and have them re-write the law so that even if you do get caught, hey, there was no crime committed.

The legalized bribery of politicians has proven to be very profitable.

Debeo Summa Credo: I know, right? I hate it when people who don't commit crimes but whom I don't like aren't prosecuted arbitrarily!

Can't we get this whole "due process" and "innocent until proven guilty" stuff suspended for a while so we can put some rich guys in jail? They must have committed SOME crime, right? They have more money than me!

2/10... but only because its Friday and I feel generous...

rosebud_the_sled:
2 - the upper 1% are not job creators as much as leaches running a Ponzi scam and the conservatives Democrats and Republicans are completely on their side.

I hold it that a little rebellion now and then is a good thing, and as necessary in the political world as storms in the physical. [...] It is a medicine necessary for the sound health of government. -- Jean-Luc Picard

What country before ever existed a two centuries & half without a rebellion? & What country can preserve it's liberties if their rulers are not warned from time to time that their people preserve the spirit of resistance? Let them take arms. The remedy is to set them right as to facts, pardon & pacify them. What signify a few lives lost in a century or two? The tree of liberty must be refreshed from time to time with the blood of patriots & tyrants. It is its natural manure. -- Kang