The System Is Still Deeply Rotten

[marmar]

from the Working Life blog:



The System Is Still Deeply Rotten
by Jonathan Tasini

Saturday 20 of November, 2010


The swamp has not been drained. Throw them all in jail.

The Wall Street Journal today:

Federal authorities, capping a three-year investigation, are preparing insider-trading charges that could ensnare consultants, investment bankers, hedge-fund and mutual-fund traders and analysts across the nation, according to people familiar with the matter.

The criminal and civil probes, which authorities say could eclipse the impact on the financial industry of any previous such investigation, are examining whether multiple insider-trading rings reaped illegal profits totaling tens of millions of dollars, the people say. Some charges could be brought before year-end, they say.

The investigations, if they bear fruit, have the potential to expose a culture of pervasive insider trading in U.S. financial markets, including new ways non-public information is passed to traders through experts tied to specific industries or companies, federal authorities say.

And the folks at Goldman may be in the thick of this again:

In another aspect of the probes, prosecutors and regulators are examining whether Goldman Sachs Group Inc. bankers leaked information about transactions, including health-care mergers, in ways that benefited certain investors, the people say. Goldman declined to comment.

http://www.workinglife.org/blogs/view_post.php?content_id=15031

[Fumesucker]

1. I doubt we have enough prisons with golf courses and tennis courts to fit them all in...

:shrug:

[formercia]

2. A few decades in the Prison Industrial Complex would do them wonders

Teach them the real value of money.

[truedelphi]

3. And just who was the top conniver with Goldman to help that Too Big To Fail giant

Receive everything it wanted and more? At the expense of less favored companies like Lehman Bros?

None other than our current Secretary of the Treasury, Tim Geithner, back in his days of heading up the New York Fed.

Apparently RCIO charges cannot be made against someone in such an important official position.

[undergroundpanther]

4. I think these pigs punishment should be

Jail them for the crime..But confiscate every last dime property or whatever else they have..Make them spend the rest of their lives spent being POOR.Dirt poor .Minimal money,no assets, no insurance, no car or home beyond a rented room in a cheap hotel.Make them live the rest of their lives on minimum wage if they can find work..And if they go over minimum income by scamming or trying to do a business, or panhandling,execute them.