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billyjoerob
Registered: Jul 2009
Posts: 688 |
08-17-12 12:55 PM
I think in most cases like this the DOJ or SEC or CFTC don't go through with the prosecution because it would make the regulators look bad. Why wasn't Lehman or the Lehman officers prosecuted? Because the regulators were on site, looking at the books, approving the shady deals. They would have to be implicated too. Likewise with MFG, the regulators are probably just as guilty of negligence as Corzine is of malfeasance. Nobody cares about his rinky dink campaign contributions.
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TheBlackHand
Registered: Jun 2012
Posts: 221 |
08-17-12 01:00 PM
Quote from billyjoerob:
I think in most cases like this the DOJ or SEC or CFTC don't go through with the prosecution because it would make the regulators look bad. Why wasn't Lehman or the Lehman officers prosecuted? Because the regulators were on site, looking at the books, approving the shady deals. They would have to be implicated too. Likewise with MFG, the regulators are probably just as guilty of negligence as Corzine is of malfeasance. Nobody cares about his rinky dink campaign contributions.
Disagree.
The CFTC have been holding numerous talks with CME, banks, funds and other participants to see what changes need to be made given the segregated account system clearly doesnt work/open to neglect following MFG & PFG.
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zboy2854A
Registered: Aug 1999
Posts: 690 |
08-17-12 01:09 PM
Quote from TheBlackHand:
+1
If he knew, he should be shot
If he didnt know, well he should still be shot for not knowing.
Indeed. It seems with the rampant cronyism and government collusion ensuring there is no legal justice anymore, anyone who wants real justice will have to go "old school".
On another note, anyone who would still invest their money with Corslime in a new hedge fund after all this absolutely deserves to lose every penny, and I will have no sympathy for them whatsoever when their money goes buh bye.
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CaptainObvious
Registered: Jun 2006
Posts: 7049 |
08-17-12 01:15 PM
Quote from billyjoerob:
I think in most cases like this the DOJ or SEC or CFTC don't go through with the prosecution because it would make the regulators look bad. Why wasn't Lehman or the Lehman officers prosecuted? Because the regulators were on site, looking at the books, approving the shady deals. They would have to be implicated too. Likewise with MFG, the regulators are probably just as guilty of negligence as Corzine is of malfeasance. Nobody cares about his rinky dink campaign contributions.
Good point, but "contributions" going to the DOJ, SEC and CFTC don't hurt either. Anyway you look at it, it's paying to have justice turn a blind eye and a deaf ear to it all. The entire system is bought and paid for.
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