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richardhutnik on 17 August 2012
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Kasz216 said:
richardhutnik said:
badgenome said:
He belongs to the master class, that's why. Prosecution is for plebs.

No one on Wall Street goes to jail unless things go to the Madoff level.  So much for me posting a venting post about it, and people telling me to wait and see.

Things could get messy if Tea Party guns equipped the ire of Occupy Wall Street's anger at Wall Street.

But hey, at least ONE person did some jail time for crimes connected with banking:

http://www.capitalismwithoutfailure.com/2012/08/alex-schaefers-arrest-for-his-sidewalk.html 

 

Guy goes to jail for chalking in front of JP Morgan Chase branch pointing out criminal behavior.  How does that connect?  Well, Corzine apparently moved hundreds of millions of dollars to JP Morgan Chase:

http://www.bloomberg.com/news/2012-03-23/mf-global-s-corzine-ordered-funds-moved-to-jpmorgan-memo-says.html

 

So, there you go.  Do the fraud, don't do jail time.  Blow the whistle with chalk and go to jail.


Gotta say i'm baffled by this one.  Unlike the GFC there literally was a smoking gun right there.

The only reasons i can think that they didn't are political.

It is as badgenome said, prosecution is for plebs.  What happens on Wall Street is you pay a fine to the SEC, so that you can be free of admitting you did anything wrong.  Only time someone would end up going to jail, possibly, is if they run an outright Ponzi, which is what Madoff did apparently.

Now, does anyone want to distill out the fraud on Wall Street angle from OWS, and run with it?  Please do so.  Maybe the next step is a bunch of chalk drawings everywhere and jail time for this.  Chalk up words with all the fraud at the banks.