But even if SEC officials manage to dodge criminal charges, it won't change what happened: The nation's top financial police destroyed more than a decade's worth of intelligence they had gathered on some of Wall Street's most egregious offenders.
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FOCUS: Why the GOP Loves the Debt - 0 views
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Now Minnesota joins the list of states being gutted by the Republican Party. The government in the state famous for being nice has shut down, because Democratic Governor Mark Dayton wanted to impose a higher income tax on Minnesotans earning $1 million or more a year-a whopping 7,700 people in a state of 5.3 million. There are additional matters-a GOP insistence on a 15 percent reduction in state workers over the next four years, for example. And so the evidence mounts: In Saint Paul and Columbus and Tallahassee and Madison, as in Washington D.C., we are watching something that is no longer a political party in the normal sense, but a group of cynical highwaymen perpetuating a national crisis and then exploiting that very crisis to try to destroy the public sphere.
It Became Necessary to Destroy the Periphery in Order to Save the Core's Bank... - 0 views
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The EU is not lending money to Ireland, Greece, and Portugal to help those nations' citizens. The EU is lending those nations money because if they don't those nations and their citizens and corporations will be unable to repay their debts to banks in the core. That will make public the fact that the core banks are actually insolvent. When the Germans and French realize that their banks are insolvent the result will be "severe banking crises and a return to recession in the core of the eurozone." The core, not simply the periphery, will be in crisis. The ECB and the EU's leadership would be happy to throw the periphery under the bus, but the EU core's largest banks are chained to the periphery by their imprudent loans.
Tariq Ali / Karl Polanyi: World Transformation - YouTube - 0 views
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from the Great Transformation of 1954 to the Arab Spring and the three economic falsehoods that can destroy our civilization.
Is the SEC Covering Up Wall Street Crimes? | Rolling Stone Politics - 0 views
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But we're equally in the dark about another hypothetical. Forget about what might have been if the SEC had followed up in earnest on all of those lost MUIs. What if even a handful of them had turned into real cases? How many investors might have been saved from crushing losses if Lehman Brothers had been forced to reveal its shady accounting way back in 2002? Might the need for taxpayer bailouts have been lessened had fraud cases against Citigroup and Bank of America been pursued in 2005 and 2007? And would the U.S. government have doubled down on its bailout of AIG if it had known that some of the firm's executives were suspected of insider trading in September 2008?
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Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file - "Hey, chief, didja know this guy had two wives die falling down the stairs?" No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record.
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