RSN Fundraising Banner
FB Share
Email This Page
add comment

Taibbi writes: "Federal judge Jed Rakoff, a former prosecutor with the U.S. Attorney's office here in New York, is fast becoming a sort of legal hero of our time. He showed that again yesterday when he shat all over the SEC's latest dirty settlement with serial fraud offender Citigroup, refusing to let the captured regulatory agency sweep yet another case of high-level criminal malfeasance under the rug."

Matt Taibbi talks about US politics. (photo: Robin Holland)
Matt Taibbi talks about US politics. (photo: Robin Holland)

Finally, a Judge Stands Up to Wall Street

By Matt Taibbi, Rolling Stone

10 November 11


Occupy Wall Street: Take the Bull by the Horns


ederal judge Jed Rakoff, a former prosecutor with the U.S. Attorney's office here in New York, is fast becoming a sort of legal hero of our time. He showed that again yesterday when he shat all over the SEC's latest dirty settlement with serial fraud offender Citigroup, refusing to let the captured regulatory agency sweep yet another case of high-level criminal malfeasance under the rug.

The SEC had brought an action against Citigroup for misleading investors about the way a certain package of mortgage-backed assets had been chosen. The case is very similar to the notorious Abacus case involving Goldman Sachs, in which Goldman allowed short-selling billionaire John Paulson (who was betting against the package) to pick the assets, then told a pair of European banks that the "designed to fail" package they were buying had been put together independently.

This case was similar, but worse. Here, Citi similarly told investors a package of mortgages had been chosen independently, when in fact Citi itself had chosen the stuff and was betting against the whole pile.

This whole transaction actually combined a number of Goldman-style misdeeds, since the bank both lied to investors and also bet against its own product and its own customers. In the deal, Citi made a $160 million profit, while its customers lost $700 million.

Goldman, in the Abacus case, got fined $550 million. In this worse case, the SEC was trying to settle with Citi for just $285 million. Judge Rakoff balked at the settlement and particularly balked at the SEC's decision to allow Citi off without any admission of wrongdoing. He also mocked the SEC's decision to describe the crime as "negligence" instead of intentional fraud, taking the entirely rational position that there's no way a bank making $160 million ripping off its customers can conceivably be described as an accident.

"Why should the court impose a judgment in a case in which the SEC alleges a serious securities fraud but the defendant neither admits nor denies wrongdoing?" And this: "How can a securities fraud of this nature and magnitude be the result simply of negligence?"

Rakoff of course is right - the settlement is nuts. If you take Citi's $160 million profit on the deal into consideration, what we're talking about then is a $125 million fine for causing $700 million in damages. That, and no admission of wrongdoing.

Just imagine a mugger who steals $70 from some lady's wallet being sentenced to walk free after paying back twelve bucks. Magritte himself could not devise a more surreal take on criminal justice.

It gets worse. Over the last decade, Citi has repeatedly been caught committing a variety of offenses, and time after time the bank has been dragged into court and slapped with injunctions demanding that they refrain from ever engaging the same practices ever again. Over and over again, they've completely blown off the injunctions, with no consequences from the state - which does nothing except issue new (soon-to-be-ignored-again) injunctions.

In this current case, this particular unit at Citi had already been slapped with two different SEC cease-and-desist orders barring it from violating certain securities laws. Here's a summary from Bloomberg:

The commission already had two cease-and-desist orders in place against the same Citigroup unit, barring future violations of the same section of the securities laws that the company now stands accused of breaking again. One of those orders came in a 2005 settlement, the other in a 2006 case. The SEC's complaint last month didn't mention either order, as if the entire agency suffered from amnesia.

The SEC's latest allegations also could have triggered a violation of a court injunction that Citigroup agreed to in 2003, as part of a $400 million settlement over allegedly fraudulent analyst-research reports. Injunctions are more serious than SEC orders, because violations can lead to contempt-of-court charges.

But the SEC avoided the issue of the 2003 injunction by charging Citi with a different type of fraud. But, as Bloomberg points out, it probably wouldn't have mattered much if they had accused Citi of violating the 2003 injunction, since the bank had already done that once and not been punished for it:

In December 2008, the SEC for the second time accused Citigroup of breaking the same section of the law covered by the 2003 injunction, over its sales of so-called auction-rate securities. Instead of trying to enforce the existing court order, the SEC got yet another one barring the same kinds of fraud violations in the future.

So to recap: a unit of Citigroup, having repeatedly violated the same laws and having repeatedly violated the SEC's own cease-and-desist orders and injunctions, is dragged into court one more time for committing a massive fraud.

And what does the SEC do? It doesn't even bring up Citi's history of ignoring the SEC's own order, slaps the bank with a fractional fine, refuses to target any individuals, allows the bank to walk away without an admission of wrongdoing, and puts a cherry on the top by describing the $160 million heist not as a crime, but as unintentional negligence.

BRING OUT THE SOFT CUSHIONS! The SEC gets rough with Citigroup.

Imagine a car thief who, when caught driving a stolen Lexus, tells the police he simply stepped into the wrong car and drove off by mistake. Now imagine he tells the same story when, two years later, he's caught screaming over the GW bridge in a stolen Mercedes.

Then, two years after that, he's caught on the Cross-Bronx Expressway blasting the stereo in a boosted 7-series BMW. Cops ask him for an explanation. "I must have gotten in the wrong car by mistake," he says, shrugging. And the cops buy the story and send him home without a charge.

That's roughly what we're dealing with with this SEC action. To extend the metaphor just a little further - let's say that BMW wasn't even the only car he accidentally drove away that day, but the cops didn't bother with the others. In the latest Citi case, the $700 million fraud was just one of many dicey CDOs marketed by that unit of Citi. But the SEC chose to address just that one case in its settlement.

Rakoff quite correctly took issue with all of this. From Jonathan Weil's Bloomberg piece:

"What does the SEC do to maintain compliance?" Additionally, [Rakoff] asked: "How many contempt proceedings against large financial entities has the SEC brought in the past decade as a result of violations of prior consent judgments?" We'll see if the SEC finds any.

Rakoff gained some notoriety a few years ago when he rejected as inadequate an SEC settlement with Bank of America, which was accused of misleading shareholders about the size of the bonuses paid out by Merrill Lynch, the investment bank BofA was in the process of acquiring. Rakoff dismissed the original $33 million fine as "half-baked justice," although he eventually approved a $150 million fine.

The amazing thing about the wave of corruption that has overtaken the financial services industry is that most of it couldn't happen without virtually every player at every level signing off on these deals. From the ratings agencies to the law firms to the accounting firms to the regulators to the bank executives themselves, everybody had to be on board in order for a lot of these fraud schemes to work.

Judges are a part of that picture, and too often, members of the bench sign off on dirty deals made between banks and regulators when the law says that such settlements must be "fair, reasonable, adequate and in the public interest."

It's great that Rakoff is behaving as any decent human being would and rejecting these disgusting settlements. But equally disturbing is the fact that more judges haven't done the same thing. Are people with backbones really that rare? your social media marketing partner


A note of caution regarding our comment sections:

For months a stream of media reports have warned of coordinated propaganda efforts targeting political websites based in the U.S., particularly in the run-up to the 2016 presidential election.

We too were alarmed at the patterns we were, and still are, seeing. It is clear that the provocateurs are far more savvy, disciplined, and purposeful than anything we have ever experienced before.

It is also clear that we still have elements of the same activity in our article discussion forums at this time.

We have hosted and encouraged reader expression since the turn of the century. The comments of our readers are the most vibrant, best-used interactive feature at Reader Supported News. Accordingly, we are strongly resistant to interrupting those services.

It is, however, important to note that in all likelihood hardened operatives are attempting to shape the dialog our community seeks to engage in.

Adapt and overcome.

Marc Ash
Founder, Reader Supported News

+119 # barkingcarpet 2011-11-10 23:01
Jail the bastards. Give us the world back.
+46 # sukumar 2011-11-11 19:50
Revoke Citi's charter. And jail the SEC for collusion.
+95 # CL38 2011-11-10 23:42
EXCELLENT article.

Most of today's 'leaders' have gone blind and numb, with no discernible feeling, have developed weak spines, and lost all sense of sound judgment.
0 # Rita Walpole Ague 2012-01-27 08:50
And, lost too is ethics and any and all drops of humanitarianism . Enslave us all, it's o.k., for it is the only way, that they'll rule all, and keep their egregious fortunes growing.

Evil ain't nothing new. Recall what happened to a man/God named Jesus, when the greed and power addicted of his era became concerned that he might 'rock their boat'?

Courage (spine) plus determination and then some its gonna take, worldwide, to quash (not merely slap the wristS of) the villainaire rulers, and.....

+34 # DPM 2011-11-10 23:47
+86 # Barbara385 2011-11-10 23:50
Judge Rakoff! You are my hero!! Stay safe!!
+87 # Billsy 2011-11-11 00:04
Matt Taibbi, you rock! Rakoff rocks! We desperately need good news like this. The GOP and Wall St. players must have their bowels in an uproar now.
+82 # cestronach 2011-11-11 00:14
Hooray for Judge Rakoff. Matt Taibbi hits the nail on the head - again! When will he get his Pulitzer?
+61 # Michael_K 2011-11-11 00:57
"Are people with backbones really that rare?"

Absolutely, yes, they are!
+92 # fettenberg 2011-11-11 01:08
Thank you, Matt, for being a trusty watchdog. Without you noticing,and stating exactly what you observed, we would not know the depth to which the public has been deceived. Without you, the previously silent, but helpless-feelin g public didnt feel like there was any way to articulate a complaint against the banking industry.

Just watch your back, young man. The bankers know that there'll be hell to pay as well sending you a special thank-you note.
+95 # George Kennedy 2011-11-11 01:18
Finally, a federal judge with the independence to stand up to the SEC and Citigroup. This will, of course, create consternation on Wall Street and among Citi's acolytes in Washington, but his decision could begin the process of restoring faith in the federal judiciary. Well done!
+59 # maddave 2011-11-11 01:20
Thank God! "To big to fail" ought never equate to too big to be held accountable and prosecuted.

It's for want of judges like this that we MUST support whomever runs on the Democratic ticket. The government may be broke - bad-broke - but Judges and Justices appointed (for life) by Democratic Administrations are, almost invariably, less hyde-bound and orthodox. Think about it: GOP-appointed Judges/Justices wil NEVER vote to overturn the abominable Citizens United decision!
+84 # X Dane 2011-11-11 01:43
Not just judge Rakoff is doing the right thing. Matt Taibbi is a national treasure. He informs us obout so much ....crap, that gets swept under the rug. Very few journalists do that. Rachel Maddow is another. We have to appreciate them.
+23 # Texas Aggie 2011-11-11 12:07
See Rachel's recent bit about how Sen. Jim Demented was the only one to vote against the bill to help veterans find jobs because he doesn't think they deserve any extra help.
+59 # stonecutter 2011-11-11 01:46
This judge may be the classic "exception that proves the rule", the rule here of course that the whole investment banking system is a financial sewage treatment plant, except the raw sewage comes out the other end as...raw sewage.

The moral/ethical abyss into which this industry has descended since the gutting of 70 years of New Deal regulation, begun in the wrongheaded Clinton administration (check out Christopher Hitchen's underrated book about Bill and Hillary, "No One Left To Lie To") and accelerated like a rocket during the Bush regime, is breathtaking in its chutzpah. It rips the metaphorical beating heart out of the chest of our body politic, the fundamental concepts of equality under the law, fairness, due process and justice that are supposed to undergird American society and values. Instead, the Citicorp revolving-door scams highlighted in this article point to an SEC that behaves more like the concierge at the Hotel Du Cap than a federal Wall Street regulator.

Anyone who is capable of understanding the twists and turns of these transactions, greatly aided by Taibbi's biting analogies to car theft and muggings, should be and probably is terminally disgusted with all of it. I'm sure most of the kids involved in OWS "get it"; sadly most ordinary, stone dumb Americans do not. Maybe Rick Perry can explain it to them.
+10 # Doubter 2011-11-11 01:48
This is not The Age of Heroes.
+43 # daveapostles 2011-11-11 02:15
'Are people with backbones really that rare?'

FUD: fear, uncertainty, doubt. I genuflect to Rakoff. We know why this happens: James Galbraith's book explained it some time ago. Let's too acknowledge the strength of Taibbi, because the rest of the media, if it reports such stuff, relegates it to the business pages. Thanks to RSN, we know better.
+59 # Ralph Averill 2011-11-11 02:22
Citi, and Goldman-Sachs and B of A et al, were all just making money the old fashioned way; by stealing it.
Good for Judge Rakoff, but he is just one judge. Until the law is changed to require jail time for the people who commit these crimes, little is going to change. And that won't happen as long as most of Congress is a wholly-owned subsidiary of corporate America.
+29 # Texas Aggie 2011-11-11 12:11
The law already allows jail time if the prosecutors (SEC) bring criminal charges. That they don't strongly suggests that if the law were changed to require criminal charges, they just wouldn't investigate anything at all. The SEC is in the business of protecting these evildoers, not the country or the public.
+9 # Obwon 2011-11-12 11:38
They need to start talking "RICO", then we'll see some shivering spines.
+21 # fobsub 2011-11-11 03:34
Mr. Taibbi seems to be assuming that there is more than one honest judge and perhaps the others are simply cowards. While its possible that there are more "honest" officials out there that are afraid to be counted because they have too much to lose,, they are ultimately little different than their criminal peers who refuse to quit what they're doing.
-31 # Miguel Grande 2011-11-11 04:44
Isn't Rakoff the one who gave a fellow Jew, Madoff. 82 million dollars of stolen money? Isn't Rakoff the judge who gave MF Global 8 million dollars of stolen money so they could afford to destroy all evidence of their crimes. Madoff stole $65 billion and Corzine $650 million.

Taibbi seems to be the gatekeeper who explains how all these crimes that are too complicated for the 99% to understand should be swept under the rug. He is the writer who investigated Wall St but missed the biggest crimes of all. He totally blew it when he missed the $1.5 quadrillion CAFR losses that are bringing down the world's financial system.

He is doing exactly what he is paid to do, just like Rakoff. He was paid to cover up the crimes off 9/11, now he is being paid to downplay the crimes of Wall St.

+14 # boudreaux 2011-11-11 11:05
I don't know if what you are saying is true or not but aside from that it looks like this judge is now trying to do the right thing and I think that is all that matters now.
And since you seem to have all of the answers can you tell me where the money that these big banks are being sued for is going? Do you think that the SEC will keep doing their jobs?
+31 # mwd870 2011-11-11 05:37
It is great that Judge Rakoff showed real integrity. My understanding of the SEC is limited, but it sounds like it needs a complete restructuring, with new officials who are capable of making honest, ethical decisions.

Thanks for this report.
+11 # RLF 2011-11-11 05:52
Big problem is that most judges are lazy and just sit up there and don't even listen in court, much less actually read any of the paper work.
+11 # tinkertoodle 2011-11-11 05:53
True but how many of those judges who signed off had a shall we say "little bonus in their paychecks" courtesy of these banks
+5 # DIAMONDMARGE 2011-11-11 06:28
Cherchez la money, or, everybody is being paid off~
+33 # warrior woman 2011-11-11 06:31
Matt, you wrote about prior cases going missing in August: Is the SEC Covering Up Wall Street Crimes?
A whistle-blower claims that over the past two decades, the agency has destroyed records of thousands of investigations, whitewashing the files of some of the nation's worst financial criminals.
"That, it now appears, is exactly how the Securities and Exchange Commission has been treating the Wall Street criminals who cratered the global economy a few years back. For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed. By whitewashing the files of some of the nation's worst financial criminals, the SEC has kept an entire generation of federal investigators in the dark about past inquiries into insider trading, fraud and market manipulation against companies like Goldman Sachs, Deutsche Bank and AIG. With a few strokes of the keyboard, the evidence gathered during thousands of investigations – "18,000 ... including Madoff," as one high-ranking SEC official put it during a panicked meeting about the destruction – has apparently disappeared forever into the wormhole of history."
+27 # NanFan 2011-11-11 06:48
Uh, Matt, I'm sure your tongue was stuck deeply into your cheek when you asked that last question.

If there were a scintilla of people out there with backbones, we would not have the need for an Occupy Movement at all.

I'm still waiting for the ones who DO have them and also have some power to change things to join the sturdy back-boned Occupy protestors and stop the injustices.

We may have just miraculously found the first in Rackoff. Thanks for your reporting and commentary.


+18 # Texas Aggie 2011-11-11 12:14
Think Dr. Elizabeth Warren.
-19 # BobbyLip 2011-11-11 06:57
The SEC? Tool of the plunderocracy. The courts? Likewise. Judge Rakoff? An anomaly. Hooray for him, but now it's time to move on, nothing else to see here. And why are all those OWS hippies picking on the job creators? For shame!
+6 # boudreaux 2011-11-11 11:08
You're so bad.
+21 # sandyclaws 2011-11-11 07:03
I am so glad that Rakoff has stepped up to the plate. Maybe that will give inspiration to others. My only fear is that something might happen to him. He is costing these institutions millions of dollars. What will us 99%ers do if something happens to this man? The other question is why don't the courts have a progressive fine for breaking these laws with mandatory jail time attached. Even if they paid back the entire money that was lost, like the 700 million, it would be like a car thief giving back your car after abusing it and joy riding without even a slap on the wrist! If the first time they would commit the crime, why not have a mandatory Twice-the-loss fine and if committed an second time then four times the loss! If the law would require imprisoning the bank president the first time this stuff happens, it would come to a screeching halt!
+32 # Barbara K 2011-11-11 07:07
Be a hero, Judge, and prosecute these crooks who destroyed so many financial lives of the American people. Get ALL the money back, no half-hearted settlement, and get ALL the money back to ALL the victims, besides your fines, and there should be jail time for the offenders too.

+24 # Tim K 2011-11-11 08:55
Were mad as Hell and want something done to people who continually break the law and bribe their way out of jail because they have corporate money to bail them out. Jail time on order of the magnitude of the theft or damage is in order. There is one set of laws in this country and they should be enforced regardless of your standing in the community or your wealth.

Never Vote Republican
+11 # Pufferly 2011-11-11 09:03
Matt Taibbi is one of our (few) investigative reporters. His next assignment should be to review the overwhelming evidence that 9/11 was an inside job, and blow this false flag operation wide open. Thousands of experts are on the case but so far the corporate media and the government have been able to suppress the truth. Let's find out who the real investigators are. (This blog will likely be buried).
+15 # John Locke 2011-11-11 10:00
The Judge should be careful, the Banks will try to set him up to be impeached, the SEC has been bought, that is obvious, they are after the money only, and don't care who is hurt...
+20 # Buddha 2011-11-11 10:21
And yet we still have shills saying that the Occupy protests are misguided for focusing on WallSt greed and malfeasance. Our political system is hopelessly corrupt, and as we're seeing with cities crushing protest, we have a huge fight ahead of us if we're going to take our country back. I saw a great sign at my last march at OccupyLA: "The system isn't broken, it is designed that way" When those with the $$ can buy politicians and judges and regulators, it is no different than an Old West mining town where the gold-baron can buy off the local sheriff to harrass and run off independant tin-pans from their claims...
+22 # wleming 2011-11-11 10:42
Matt reveals, once again, that WE HAVE NO MEDIA IN THIS COUNTRY. His story should be on the front page of he New York Times-- but then all they do is State Dept. handouts. Best to you Matt for telling the truth midst an Empire of Lies- all of them televised.
+15 # angelfish 2011-11-11 10:51
God Bless you Mike Taibbi! You certainly have a way with words! Sadly, Mike, people with backbones in the Judicial System seem to be few and far between these days. They've become pretty scarce all over, it seems. We are so fortunate to have people like you who call the Bast**ds out for their underhanded, "Screw the Public" Chicanery! I admire you tremendously and look to you to keep us informed like few others in the Media do. Thank you so much!
+9 # gslover60 2011-11-11 11:08
As long as the dollar is a US citizen with all the rights of citizenship and none of the responsibilitie s, judges such as Jed Rakoff will be rare, and, sadly, the impact of their actions minimal. They will be overruled or pressured into compromises, as Matt mentions in the previous case against Bank of America involving Merrill Lynch. Our “leaders” can’t save us. Only unity against the cheap divisions that have been fostered in the 99%--racism (which includes slurs like ‘one Jew handing money to another’), jingoism, sexism, competitiveness and greed—can turn this country around. As long as more than 50% of the 99% are gnawing on each other, don’t expect judges to rescue us.
+15 # boudreaux 2011-11-11 11:31
Finally we have one judge that wants to do the right thing and thats a start, I pray that we get more to follow in his footsteps.
To me we do have 2 standards of law, laws for the 1% and laws for the 99%. The 1% do not have to do any time for their crimes but let a 99% try to rob a bank and see what kind of time they have to do.

And the SEC if finally doing some of their job now and I don't know why they aren't being proscuted for any of their wrong doings. I would like to know if just filing their crimes is enough, they won't do anymore than 4 yrs for the awful wrongs they are doing, and that's a cakewalk for any criminal.

I want to know where the money is really going after they file on them. I don't see how we will ever be able to trust any of these GOP or SEC or Big Banks, they lie,lie,lie.....

And I do so thank you Matt for keeping us rock baby...
+11 # JCM 2011-11-11 11:49
Why would anyone, paying any attention at all, want to do business with Citi?
+14 # boudreaux 2011-11-11 12:05
I think that we should hold the SEC accountable for shredding all of the paper work and let these 1% get away with this for so long, if they had been doing their jobs like the should have been maybe this would have started as soon as they saw a wrong doing. I would like to see them jailed first....
+17 # djdwatson 2011-11-11 12:18
So...if corporations are "human" this entire division of Citi needs to do prison in 3rd time offenders. Isn't that what we would do in any other high crime areas?
+16 # JayMagoo 2011-11-11 12:28
It's shocking that when one Federal Judge acts like an honest judge should act, it's news. Where the hell are all the rest of the judges? And SEC regulators? Has our government become so corrupt, starting with Reagan that a judge who is honest is news? And what about Speaker Boehner's campaign to stonewall budget negotiations so his wealthy benefactors don't have to pay their fair share? It's not hard to understand what the Occupy Wall Street people are worked up about.
+9 # shortonfaith 2011-11-11 12:40
Keep it coming Matt & hopefully that Pulitzer will follow, along with some guards. Watching the 99% on their door, hopefully judges are starting to say enough? As they claim to be keepers of peace, then equal & harsh rulings are long past due.

Any start is just the first of many down this path. We are all tired & sick of the graft & corruption thru & including judicial. It's been way too much for way too long now. With your help one can only keep demanding & having hope...
+9 # Hoppy 2011-11-11 13:04
"Are people with backbones really that rare?"

Yes! See Penn State. When you have a 28 yr old graduate assistant football coach who doesn't have the balls to stop a pervert from sodomizing a 10 yr old boy, what can you expect from judges and SEC regulators?
-22 # Beejay 2011-11-11 14:49
Another bad analogy: Look, the mugger didn't steal $70 bucks out of the ladies wallet. SHE chose to buy, I don't know, an overpriced set of gold-plated schlock he recommended in the store store window. The sales rep gave him a $16 kickback. IOW's, HE didn't wind up with $70. So saying he was "sentenced to walk free after only paying back $12 bucks" is misleading and disingenuous ... he was set to pay a fine of $28.50 - It would have been a net negative for him. Therefore,the suggestion that many people signed off on THIS deal with a nod & a wink is insulting. Arguing over how big a rap across the knuckles is one thing. Accusing someone of dishonesty because they didn't rap hard enough to suit you is quite another.
+2 # HowardMH 2011-11-11 15:31
Add most judges to all of congress for the next election. It is not the people it is the system-- it will never be changed without blood in the streets -- campaign financing and term limits-- maybe a real third party! otherwise you can elect anyone you want and it will not change!
It is not the people it is the system-- it will never be changed without blood in the streets -- campaign financing and term limits-- maybe a real third party! otherwise you can elect anyone you want and it will not change!
+13 # HowardMH 2011-11-11 15:38
Matt Taibbi is one of the BEST!!! How can we support him to do more? I wonder how long it will be before he is shut down by some big corporation or politician that doesn't like what he says and has the power to stop him. When are we the 99% going to really get mad and demand REAL Change in Wash DC.
-14 # Miguel Grande 2011-11-12 05:39
Oh Matt Taibbi you're one of the best!

Hey Howard, google Operation Mockingbird. Matt's father was a Cia plant and so is Matt. Look up his career, after college he went directly to Russia as a spy. He has written the praises of fellow CIA spy, Fareed Zakaria. He has worked for the govt covering up the inside job on 9/11. He is writing praises of a criminal judge who believes whose religion promotes rape and pillage of the Goyim (cattle).

Does anyone wonder why Mr Taibbi is given the media pulpit so often? Operation Mockingbird is the answer.

+16 # Dave Balaam 2011-11-11 16:01
Would someone please send this to Rep Joe Walsh who keeps blaming government for the malicious behavior of the banks. The only blame government should get is for not prosecuting more of these rats.
+11 # Ed L. 2011-11-11 20:20
Matt.. admire your fortitude in exposing these SOBs..If main stream media would report this then the people on the fence with occupy wall street would be on board..THEN LET THE GAMES BEGIN. Of course wall street and our government are in bed together and put the clamps on all news agencies. FOX NEWS who swears to FAIR AND BALANCE reporting. They make me sick. WE THE PEOPLE NEED TO TAKE BACK OUR COUNTRY. GET BACK TO CONSTITUTIONAL LAW.
+17 # SenorN 2011-11-12 10:29
Break up the big banks and prohibit the mixing of commercial and investment banking. Bring back Glass-Steagall!
-1 # Buzz Baldrin 2011-11-13 15:18
Outsource globalist bankster trials to China, where white collar criminals face eye-for-an-eye justice. China may owe a lot of its economic success to its former policy of shippings the type of folks who work at Citibank to rural pig farms.
-1 # Scott479 2011-11-13 18:26
Obama condones this type of SEC get out of jail free regulation....
+1 # fraleigh44 2011-11-14 17:56
Matt should get a Pulitzer prize for his stream of articles on the Wall Street bunk. With this article we have coming to the front the whole purpose of the "Occupy" movement. What happened to our constitutional statement of: "With equal justice for all." These people ruin us at the snap of a finger for more profits and bonuses so why don't we oft them at the snap of our finger. Tit for tat!
+1 # Dee Balaam 2011-11-19 18:51
The whole point of OWS was to seek justice for all the millions of people whose lives have been ruined by the chicanery of Wall Street gangs. Life is not just, but we must aim for it by fighting injustice. The very gangsters in Europe and the US who brought the world to ruin are the shameful ones left in situ to sort it out. And to whose advantage will that be, pray? This is a constitutional disgrace. Why are they being allowed to continue in positions which they have globally and criminally abused? Should they not be brought before the International Criminal Court?

THE NEW STREAMLINED RSN LOGIN PROCESS: Register once, then login and you are ready to comment. All you need is a Username and a Password of your choosing and you are free to comment whenever you like! Welcome to the Reader Supported News community.