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View Diary: Too Big to Jail? (158 comments)

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  •  "I f you liked Enron at $40 ... (0+ / 0-)

    you will love it at $30."
    Was that fraud?
    See, there are many ways to make a slanted statement without crossing the line into prosecutable fraud.
    "Obama is a socialist." Is that fraud?
    "Sept. 11 was an inside job." Was that fraud?
    I am wondering whether I am addressing a lynch mob.

    Censorship is rogue government.

    by scott5js on Fri Apr 05, 2013 at 09:35:10 AM PDT

    [ Parent ]

    •  you asked: (1+ / 0-)
      Recommended by:
      scott5js
      what laws people on Wall Street might have violated
      The examples I gave were of ostensibly responsible parties misleading their very own clients for their personal financial gain, which surely might be fraud.  More than "might" actually. So I answered your question.

      The definition of fraud is: Wrongful or criminal deception intended to result in financial or personal gain. There no way any of the statements you suggested are even close to fraud.  

      •  OK ... (0+ / 0-)

        but my first example was a sales pitch to sell Enron stock when the company was beginning to get shaky. I believe the salesman continued on the same path when Enron was plunging further down. I got this example from a book entitled "The Anatomy of Greed." This was a matter of financial gain. My other examples were political, of course.
        My problem with this whole discussion is a presumption of guilt without review of what the charges might be.
        You know, these people can afford lawyers who are experts at catching adversaries with their pants down.

        Censorship is rogue government.

        by scott5js on Fri Apr 05, 2013 at 11:39:50 AM PDT

        [ Parent ]

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