I feel our only recourse is to strive for public funded elections..how else do you
explain the lack of accountability..I have no other answer.

SoL is 10 years:

and dare say I, convictions of financial sector wrong-doers?

{Goodie ... another opportunity to test my speculative vision, as a supporter of this administration, against yours. To this point I'm at least 6-0.}

Just out of curiosity, what charges should be brought against Jamie or Lloyd ... or does it matter, so long as they go to jail?

Professor Black says, “CEO Jamie Dimon has presided over the largest financial crime spree in world history. . . . It depends on how you count it, but it is more than a dozen, and more in the range of 15 major felonies that either the United States investigators have found, state investigators have found or foreign governments have found.” The Professor goes on to say, “JP Morgan’s frauds are epic in scale, unprecedented in world history. . . in these $23 billion we’re talking about, these are frauds that made Jamie Dimon and other senior officers incredibly wealthy by creating fictional income that led to very real bonuses.”

http://usawatchdog.com/jp-morgans-frauds-are-epicunprecedented-in-world-history-william-black/

Even Professor Black has yet to frame an indictable offense that could attach to Diamond.

There is what the law is (i.e., must satisfy the elements of a complaint in order to get an indictment, let alone a conviction); then, there is what we wish the law was (i.e., they got rich ... f@$% 'em, send them to jail! ... so long it isn't me).

Black was litigation director for the Federal Home Loan Bank Board (FHLBB) from 1984 to 1986, deputy director of the Federal Savings and Loan Insurance Corporation (FSLIC) in 1987, and Senior VP and the General Counsel of the Federal Home Loan Bank of San Francisco from 1987 to 1989, which regulated some of the largest thrift banks in the U.S.[3]

http://en.wikipedia.org/wiki/William_K._Black

So what you're suggesting is that Black is only speculating about 15 felonies? Your comments seem unsupported.

and greatly respect his body of work; but no, I'm not suggesting that Black is only speculating about 15 felonies. What I am saying/have said repeatedly is the felonies that have been committed do not attach to Diamond (or just about any other financial industry top executive ... that is how, and why, corporations are structured; to insulate the top executives from culpability.

Black and many others do not agree with you.

Professor Black states that many felonies have been committed, and Diamond was the boss while these felonies were committed; but that does not mean, under the law, that Diamond is legally culpable for these felonies.

In order for Diamond to be charged, the prosecution would have to prove that either: he participated in, or knew of, the fraudulent activity; or (according U.S. District Judge Jed Rakoff) that he was willfully blind to the wrong doing. Corporations are structured so as to insulate the top executives from anyone being able to prove that they participated in or even knew of the wrong-doing (that's why corporations have so many layers of decision-makers.)

Likewise, it is a tough case to bring that an executive should have known, but chose not to know, of the wrong-doing without the benefit of hindsight. Courts have ruled time and again that corporate officers must be able to trust the information that their subordinates provide them, even if that information proves to be wrong.

Despite what Rakoff opines, there is a reason why these cases are few and far between ... even in his Court room.

one must just have a knowledge of what "building a case" means.

I do not rely heavily on presumptions of difficulty, I rely on my legal education and experience in the field ... and maybe, a little on the knowledge of what goes into prosecutorial decision-making.

on a desire to ignore much of it. That you would discount Black and Rakoff indicates
you have a different agenda.

” Law enforcement officials had the tools, from Sarbanes-Oxley on down, to hold the perpetrators to account. They failed, because they wanted to fail. They didn’t want to disrupt the financial industry by exposing its corruption."

am I discounting Black or Rakoff ... Maybe we could clear this up by you either linking to where either Black or Rakoff indicate that Diamond could be prosecuted (your segment from the Black article didn't say what you think it said); or frame the case where Diamond could be held criminally liable.

it is clear that Dimon signed a false disclosure form in violation of Sarbanes-Oxley certification.

However, that is completely unrelated to the mortgage melt down or the fraud that lead to it that folks want punished.

I guess if jailing folks is the objective, regardless of their connection to the theft of billions, you are correct. I was arguing more about the fraud that was the capitalization and selling of worthless MBS; rather than, a signing off on a certification that the company had someone watching that traders were trading what they said they were trading.

So the long and short of this is you are correct ... there is evidence that JD violated S/O and should go to jail ... if he were held to the same standard of any "Joe CPA" out there.

Sorry to belabor the point ... we were talking about two different things.

I guess.

I love Bill Black!

But What's to Come?

Bill Black: Although Attorney General Holder says no bank is too big to prosecute, the Justice Department will be going after foreign banks instead of making an example of the leadership behind the financial crash - May 7, 14

audio/video interview:

http://therealnews.com/t2/index.php?option=com_content&task=view&id=31&Itemid=74&jumival=11826