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Related: About this forumMatt Taibbi: Justice Department's New Get-Tough Policy Is, Well, Not
from Rolling Stone:
I don't want to sound like a broken record, but . . . the latest ploy by the government to insist it is "getting tough" on Wall Street is beyond laughable.
The tough new-and-improved regime, as described by the curiously credulous Dealbook, is a policy of extracting criminal guilty pleas from foreign subsidiaries, as opposed to the "usual fines and reforms." This was the path chosen in the recent UBS deal (in which a Japanese subsidiary was charged while the parent company was given a complete walk, a non-prosecution settlement) and in the more recent deal with the Royal Bank of Scotland. Both of those banks were implicated in the LIBOR rate-fixing case, which is only maybe the most egregious and far-reaching financial scandal of our generation. Writes Dealbook:
Criticized for letting Wall Street off the hook after the financial crisis, the Justice Department is building a new model for prosecuting big banks.
In a recent round of actions that shook the financial industry, the government pushed for guilty pleas, rather than just the usual fines and reforms. Prosecutors now aim to apply the approach broadly to financial fraud cases, according to officials involved in the investigations.
Lawyers for several big banks, who spoke on the condition of anonymity, said they were already adjusting their defenses and urging banks to fire employees suspected of wrongdoing in the hope of appeasing authorities.
The story was accompanied by a preposterous photo of Lanny Breuer angrily wagging a finger, suggesting a new, "get-tough" criminal division of the Department of Justice. ....................(more)
The complete piece is at: http://www.rollingstone.com/politics/blogs/taibblog/justice-departments-new-get-tough-policy-is-well-not-20130220#ixzz2LXvA1vFo
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Matt Taibbi: Justice Department's New Get-Tough Policy Is, Well, Not (Original Post)
marmar
Feb 2013
OP
jtuck004
(15,882 posts)1. I'll bet they are shaking in their $1200 Italian leather shoes. n/t
Autumn
(45,120 posts)2. Justice Department's New Get-Tough Policy Is, Well a fucking joke
K/R
CentristLiberal
(36 posts)3. I'm really getting sick of Matt Taibbi
I suppose he'd rather have President Romney, then?
spotbird
(7,583 posts)4. The suggestion is that the desire for simple
honest government is now an absurdity. We must now chose between which horrible team we support. Good government as a suggestion isn't on the table.
Fuddnik
(8,846 posts)5. Too late to scare us with Romney.
I wish we had a whole new government. They're all owned and operated by the same banksters.
Fuddnik
(8,846 posts)6. Kick and Rec.
Lanny Breuer makes me want to
amandabeech
(9,893 posts)7. You and me, both, Fuddnik. n/t