Who says crime finding loopholes doesn't pay?
Not to mention the $45 billion Citi received from the bailout.
So where is AG Holder and the DOJ with criminal prosecution in this case?
Waiting for the 5 year statute of limitations on securities fraud and insider trading to expire.
"As the housing market began its collapse, Wall Street firms and sophisticated investors searched for ways to profit. Some of them found an easy method: Stuff a portfolio with risky mortgage-related investments, sell it to unsuspecting customers and bet against it.Hmmm, sounds suspiciously like securities fraud and insider trading to me.
Citigroup on Wednesday agreed to pay $285 million to settle a civil complaint by the Securities and Exchange Commission that it had defrauded investors who bought just such a deal. The transaction involved a $1 billion portfolio of mortgage-related investments, many of which were handpicked for the portfolio by Citigroup without telling investors of its role or that it had made bets that the investments would fall in value."
"...The settlement will refund investors with interest and include a $95 million fine -- a relative pittance for a giant like Citigroup. On Monday, the company reported that in the third quarter alone it earned profits of $3.8 billion on revenue of $20.8 billion."
Not to mention the $45 billion Citi received from the bailout.
So where is AG Holder and the DOJ with criminal prosecution in this case?
"According to the SEC's complaints, the..transaction closed on Feb. 28, 2007."
Waiting for the 5 year statute of limitations on securities fraud and insider trading to expire.
Ah! And think of the inroads that USA Citizens LLC could make - and fast!
Remember this from the last election?
http://murrayhillincforcongress.com/
After the Citizens United decision, why not?
If were are to be ruled by plutocracy, then we should own it.
Des, I'm afraid that I just let one of those big cats out of the bag. We'll see if it flies. I just posted this on Dylan Ratigan's blog
"Alright, enough of this! The obvious solution is to create one large corporation out of the citizenry of the United States, elect a heavy-duty board of directors, and then begin to enjoy the same protections and financial tools that the banks and brokerages have enjoyed all this time. We can buy all the congressmen we want at that point with a massive war chest, and control the dialog with limitless monies, talent, and technologies in media of our own making. After all, People can be Corporations too, eh?"
I'm with you. One slight difference, I don't think it'll be Huntsman. I said Rubio before and I'm sticking with that. Romney doesn't need Huntsman, he'll carry Utah anyway. Florida is always a key state and Rubio might give Romney an edge there. Plus it throws a bone to the Tea Party. They'll go with one Mormon but 2 might give them a case of hives.
I won't hold my breath.
The ONLY solace I'm taking these days is that Obama and his band are gonna get drubbed BIG TIME by the "Mormon Conspiracy", Romney/Huntsman. Why WOULDN't Romney pick a fellow parishioner???? Frankly, I hope he does if only to see the republicana SQUIRM.
As we have agreed, althjough this could lead to the end of the United States as we know it, it's gonne be an "E Ticket" ride all the way to November '12.
But, but, but, Timmy said "stay tuned." They're gonna start cracking bankster skulls any day now. Honest.
No need to say it. Inaction speaks louder than words.
I am glad my dad and grandpa aren't around to see what has happened to their beloved democratic party.
I supposes the only hope we have is if some of the state's AG's pursue this.
I am having a "vision"..........it's getting clearer now......
"I, Barack Obama, under the powers vested in me by the Constitution, hereby grant a full and unconditional pardon to the United States banking industry for crimes they committed or may have committed against the United States of America.."