Too Big To Jail? DoJ: Wall St. Bailout Buds 'Co-Conspirators' In Plot To Rip Off State, Local Gov'ts

[yurbud]

What are the chances we'll see any of the CEO's of these firms frog-marched to jail and end up in prison?

I know, but I had to ask...

By Susie Madrak Sunday Mar 28, 2010 7:00am

Municipal bonds are where a lot of the political kickbacks and corrupt deals are typically hidden, so I can't say I'm surprised. In fact, it's sort of funny that the governments dealing with these guys apparently thought they could trust them, considering how crooked the business is. Lie down with dogs, rise up with fleas, as the nuns used to say:

March 26 (Bloomberg) -- JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case.

A government list of previously unidentified “co-conspirators” contains more than two dozen bankers at firms also including Bank of America Corp., Bear Stearns Cos., Societe Generale, two of General Electric Co.’s financial businesses and Salomon Smith Barney, the former unit of Citigroup Inc., according to documents filed in U.S. District Court in Manhattan on March 24.

Gee, look how many were firms that were already taking money from us on the front end. They wanted the back end, too?

http://crooksandliars.com/susie-madrak/too-big-jail-wall-st-bailout-buds-co

[Double T]

1. CEO and executive management frog marches would be very helpful in late October.

The criminal corruption on wall street and in corporate america is truly unbelievable.

[ClassWarrior]

2. And there's disgust for it among the populace across the political spectrum.

Amen, Double T.

NGU.

[yurbud]

3. it didn't help when Obama said he admired people like Goldman Sachs scammers

[truedelphi]

4. K & R for readingto later. n/t