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View Diary: Breaking! Foxes fail to guard the henhouse (86 comments)

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  •  Your not a (1+ / 0-)
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    Agathena

    'sophisticated lawyer' or accountant or maybe you are who knows? As Lenny Breuer said

    The other issue we have here in those kinds of transactions  for the most part, you had the most sophisticated bankers and lawyers and accountants as consultants. So for me to bring a criminal case, I have to show that the very sophisticated lawyers on Wall Street who worked on this, the very sophisticated accountants, that either they were in on the crime, or frankly, what is reality is that in these disclosure documents out there, there was enough disclosure that we cannot bring a criminal case.
    See it's just too sophisticated for the law to deal with. Too costly too sophisticated. These are not criminals they are savvy sophisticated businessmen.

    I do believe that we paid for it and are going to keep paying for it. After all nobody wants to see these crooks fail as then the world as we know it would apparently fall off a cliff and trigger a financial apocalypse now.

    Let it rip...it's just useless, it's a con...

     

    •  In that Frontline piece, (1+ / 0-)
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      shaharazade

      the practitioners were regular people weeding through the underwriting. Sophistication has nothing to do with it, it's boring tedious stuff. Simple arithmetic. Maybe some of the derivatives are obscure, but we have plenty of people that can unwind them too.

      •  I know (1+ / 0-)
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        WheninRome

        it really is simple arithmetic, and probably simple law. I was being snarky. The real problem it seems to me is that those in power D's and R's are really not going to prosecute or even regulate the banksters. The Financial Industries, are in no danger of being reined in regardless of who wins the WH or which party has the majority in congress.

        There are good people like Elizabeth Warren or Merkley in congress but they have no power and are basically just for show. The Progressive Caucus had a great budget but it wasn't even considered. Did not mean to be snippy to you I'm sure that any competent accountant or lawyer could untangle the so called sophisticated web but none are willing it's the new way forward. The fiscal cliffs of mass deception are always looming by design.    

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