The Greatest Depression | 03/11/2009 7:57 pm
Prosecution for Financial Fraud on the Way, Says New York Times
In the category of "it’s about time," the states and the Feds are preparing indictments for financial malfactors.
"Spurred by rising public anger, federal and state investigators are preparing for a surge of prosecutions of financial fraud."
For the first time, a glimmer of hope. Tonight, The New York Times is reporting that the government is preparing to lawfully slake the populace’s thirst for perp walks! Better the government than vigilantes infiltrating the hedgerows of the Hamptons or the Gomorrah of Greenwich, Ct. to exact vengeance on the evil-doers of the economic downturn.
According to the New York Times, "With the Obama administration focused on stabilizing the banks and restoring confidence in the stock market, it has said little about civil or criminal charges at the federal level. But its proposed budget contains hints that it will add to this weight of litigation, including money for more F.B.I. agents to investigate mortgage fraud and white-collar crime, and a 13 percent raise for the Securities and Exchange Commission."
Check out the whole story at The New York Times.
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10 Reader Comments (so far…) Sign In or Register to comment
HALLELUIAH!!!!!!
Nothing will come out of it. Everyone knows these guys were hoping to foreclose on some homes. Then turn around and sell them for a profit. They just didn’t take in account the worst scenario happening.
No excuses!
If their names are on the list, don’t let them ever work in the banking business again.
They will need to pay fines, settlements, etc.
The way this is handled, shouldn’t bring a profit for the government, lawyers or the court systems. Greed will take over.
And isn’t that what started all of this.
They should all be held accountable for what they did b/c they knew it was wrong and did it anyway. Will it ever happen, No I dont think it will. I think some will be punished but not all.