Re: Oscars and Wall Street

Did you read the Taibbi, Rolling Stone article by any chance?

The SEC is a stepping stone for lawyers who ultimately want to work at the 
same firms they are supposed to be regulating.  The SEC, Wall Street Banks, 
Federal Reserve are just different partitions of the same revolving door. 
DoJ which is the govt. agency that would do the prosecuting relies on the 
SEC for direction on who to prosecute and the evidence upon which to 
prosecute.  So it the SEC is corrupted the DoJ isn't in much of a position 
to start up prosecutions on their own.

Mike F.



-----Original Message----- 
From: Karl D Swenson
Sent: Monday, February 28, 2011 5:52 PM
To: 'nicholas a. evans' ; 'DADL (off topic)'
Subject: Re: [DADL-OT] Oscars and Wall Street

I get what you are both saying, but with the popular sentiment so strong, I
just don't understand.  If it was such a slam dunk, they would be happy to
go for it.

-----Original Message-----
From: [email protected] [mailto:[email protected]] On Behalf
Of nicholas a. evans
Sent: Monday, February 28, 2011 3:20 PM
To: DADL (off topic)
Cc: Karl D Swenson
Subject: Re: [DADL-OT] Oscars and Wall Street

On Mon, Feb 28, 2011 at 2:58 PM, Karl D Swenson <[email protected]>
wrote:
> Isn't the second point more a testament to the fact that much of what
> they did, while unethical, was actually legal?

To answer the exact wording of your complaint: Yes, much of what they did
was unethical but legal.

However (as Lance has asserted and provided myriad links to support), a
significant portion was neither ethical nor legal.  If we had prosecutors
who were doing their jobs, multiple executives from most (if not all) of the
major financial institutions would be in jail by now.

--
Nick


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