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Forums - Politics - Jon Corzine to get off scott free.

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

Rare case where i  can't fully tell if your being sarcastic or not.

Not.



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richardhutnik on 17 August 2012
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.



richardhutnik on 17 August 2012

Studies show CEOs are subject to different rules than the little guy:
http://my.firedoglake.com/masaccio/2012/08/10/studies-show-ceos-not-subject-to-same-rule-of-law-as-you/



Alby_da_Wolf on 19 August 2012
richardhutnik said:
Studies show CEOs are subject to different rules than the little guy:
http://my.firedoglake.com/masaccio/2012/08/10/studies-show-ceos-not-subject-to-same-rule-of-law-as-you/

Oh my, I'd never have imagined it! 



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Kasz216 on 19 August 2012
richardhutnik said:
Studies show CEOs are subject to different rules than the little guy:
http://my.firedoglake.com/masaccio/2012/08/10/studies-show-ceos-not-subject-to-same-rule-of-law-as-you/


That's not what those studies say at all.  That's not even what the recap of the article says!

Those studies say that CEOs who's companys give to poltiical campaigns and lobby are treated differently then CEO's who's cimpanys. don't.

 

Which in of itself is a fairly misleading indicator, since CEOs of companies who give to political campaigns are CEOS just happen to be the CEOs of bigger companies.

Bigger companies are harder to find evidence of criminal intenet in most cases... and most cases do require criminal intent, unlike the Corzine case.

 

Additionally, bigger companies are a bigger part of the economy, even if the government wasn't prosecuting these people, it's likely to be that they aren't because they are afraid such prosecutions would hurt the economy with a dragged out trial.