Why Isn't Wall Street in Jail?

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Diogenes
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Re: Why Isn't Wall Street in Jail?

Post by Diogenes »

Skipjack wrote:
Diogenes wrote:
We ask their Federal regulator for the details of this life insurance under a Freedom of Information Act request and we’re told the information constitutes “trade secrets.”
That just shows what a human life is worth to these sociopaths on the top of the large banks! People are just numbers and valued in the return on their life insurance. I am disgusted, but not really surprised.

I do not blindly accept what anyone claims or asserts in regard to something of this level of seriousness. I generally reject out of hand anything that smacks of "conspiracy", but there is enough suspicious coincidences about this story topic that I am willing to entertain the idea that there might be some nefarious deeds occurring in regards to it.


It is of sufficient seriousness that the possibility of dirty doings needs to be considered. Still, the possibility remains that this talk of underhanded activities is utter nonsense, so I would advise keeping an open mind but also I think we should keep up with any further developments.

It certainly feels hinkey.
‘What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.’
— Lord Melbourne —

Diogenes
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Re: Why Isn't Wall Street in Jail?

Post by Diogenes »

Banker Suicides Return: DSK's Hedge Fund Partner Jumps From 23rd Floor Apartment



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The summer, thankfully, has been largely bereft of the dismal trend of bankers committing suicide, but as Bloomberg reports, Thierry Leyne, a French-Israeli banker and partner of Dominique Strauss-Kahn, the disgraced former chief of the IMF, was found dead Thursday after apparently taking his own life by jumping off the 23rd floor of one of the Yoo towers, a prestigious residential complex in Tel Aviv. This is the 16th financial services executive death this year.

http://www.zerohedge.com/news/2014-10-2 ... -apartment
‘What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.’
— Lord Melbourne —

GIThruster
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Re: Why Isn't Wall Street in Jail?

Post by GIThruster »

Do bankers really jump that often or are they "helped" over the edge?
"Courage is not just a virtue, but the form of every virtue at the testing point." C. S. Lewis

Diogenes
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Joined: Mon Jun 15, 2009 3:33 pm

Re: Why Isn't Wall Street in Jail?

Post by Diogenes »

GIThruster wrote:Do bankers really jump that often or are they "helped" over the edge?



*THAT* is the question about which a lot of us (including the writers of some of these articles) are wondering.
‘What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.’
— Lord Melbourne —

DeltaV
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Re: Why Isn't Wall Street in Jail?

Post by DeltaV »

Somebody well-versed in statistics should do a historical analysis of banker suicide methods.

paperburn1
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Re: Why Isn't Wall Street in Jail?

Post by paperburn1 »

It is my understanding that only 2 percent of men commit suicide by falling
I am not a nuclear physicist, but play one on the internet.

choff
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Re: Why Isn't Wall Street in Jail?

Post by choff »

Perhaps they're being inspired by popular sentiment.

https://www.youtube.com/watch?v=yge311sFhC8
CHoff

williatw
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Re: Why Isn't Wall Street in Jail?

Post by williatw »

Diogenes wrote:
GIThruster wrote:Do bankers really jump that often or are they "helped" over the edge?



*THAT* is the question about which a lot of us (including the writers of some of these articles) are wondering.
If I had to guess...maybe they played fast and loose with the wrong kinds of people's money. People not as "forgiving" as the Obama administration/Congress was in the financial crises. The kind of people who might fit one with a pair of cement overshoes; or in the case of high profile people arrange some kind of accident/suicide.

choff
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Re: Why Isn't Wall Street in Jail?

Post by choff »

How many guys have ever killed themselves by slitting their own throats?

http://nypost.com/2014/11/19/man-found- ... apartment/

I've heard of Hari Kari where the Samurai would slit his own stomach open, didn't think a banker would have as much guts. Guess if a guy like Gary Webb can shoot himself in the back of the head twice with a revolver anything's possible.
CHoff

rjaypeters
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Re: Why Isn't Wall Street in Jail?

Post by rjaypeters »

From an old article: "Why Only One Top Banker Went to Jail for the Financial Crisis" - NY Times 30 April 2014

A summary from topic sentences:

"American financial history has generally unfolded as a series of booms followed by busts followed by crackdowns."

"The credit crisis of 2008 dwarfed those (earlier) busts, and it was only to be expected that a similar round of crackdowns would ensue. "

"But the crackdown never happened."

"Many assume that the federal authorities simply lacked the guts to go after powerful Wall Street bankers, but that obscures a far more complicated dynamic. During the past decade, the Justice Department suffered a series of corporate prosecutorial fiascos, which led to critical changes in how it approached white-collar crime. The department began to focus on reaching settlements rather than seeking prison sentences, which over time unintentionally deprived its ranks of the experience needed to win trials against the most formidable law firms."

"Part of the Justice Department’s futility can be traced to the rise of its own ambition. Until the 1980s, government prosecutors generally focused on going after individual corporate criminals. But after watching their fellow prosecutors successfully take down entire mafia families, like the Gambino and Bonanno clans, many felt that they should also be going after more high-profile convictions and that the best way to root out corruption was to take on the whole organization. A long-ignored Supreme Court ruling, from 1909, conveniently opened the door for criminal charges against entire corporations. And in 2001, Michael Chertoff, George W. Bush’s new criminal division chief, arrived at the Justice Department ready to put it to use."

"Chertoff, who worked at the U.S. Attorney’s office under Rudolph W. Giuliani, the godfather of the Wall Street perp walk, seemed like just the guy to jump-start the initiative — and he arrived at an opportune moment. Prosecutors were beginning their investigation of Enron and probe into Arthur Andersen, the accounting firm that had blessed the energy-trading giant’s phony balance sheets and shredded documents shortly after it detonated."

"The Andersen case was supposed to embolden the Justice Department, but it quickly backfired. Chertoff’s chutzpah shocked much of the corporate world and even many prosecutors, who thought the department had abused its powers at the cost of thousands of innocent workers."

Leading to an emphasis on punishing, but not destroying, the institutions:

"From 2004 to 2012, the Justice Department reached 242 deferred and nonprosecution agreements with corporations, compared with 26 in the previous 12 years, according to a study by David M. Uhlmann, a former prosecutor and law professor at the University of Michigan. And while companies paid large sums in the settlements — the days of $7 million cost-of-doing-business fees were over — several veteran Justice Department officials told me that these settlements emboldened defense lawyers."

"More crucial, they allowed the Justice Department’s lawyers to “succeed” without learning how to develop important prosecutorial skills. Investigations of individuals are more time-consuming and require a different approach than those of a corporation. Indeed, the department now effectively outsources many of its investigations of corporate executives to outside firms, which invariably produce reports that exculpate those at the top. "

"More crucial, they allowed the Justice Department’s lawyers to “succeed” without learning how to develop important prosecutorial skills. Investigations of individuals are more time-consuming and require a different approach than those of a corporation. Indeed, the department now effectively outsources many of its investigations of corporate executives to outside firms, which invariably produce reports that exculpate those at the top. "

Another prosecutorial choice: "“You do have a tough choice,” one former Southern District prosecutor says. “Am I going to chase after crimes I don’t know were committed and don’t know who by (from financial crisis), or do we go after crimes we do know were committed and by whom (from insider trading)?” Almost always, the Justice Department went after insider trading.

Another aspect from the article is individual ambition. Lawyers working in the government often hope to work for private companies which pay much higher salaries. If a lawyer does too good a job in government service, she may burn her bridge to corporate work.

http://www.nytimes.com/2014/05/04/magaz ... .html?_r=4
"Aqaba! By Land!" T. E. Lawrence

R. Peters

mvanwink5
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Re: Why Isn't Wall Street in Jail?

Post by mvanwink5 »

choff wrote:How many guys have ever killed themselves by slitting their own throats?

http://nypost.com/2014/11/19/man-found- ... apartment/

I've heard of Hari Kari where the Samurai would slit his own stomach open, didn't think a banker would have as much guts. Guess if a guy like Gary Webb can shoot himself in the back of the head twice with a revolver anything's possible.
:lol: :lol: :lol: I saw the report and thought no doubt this will be ruled a suicide. /sarc
Another banker bites the dust. Grandfather said, "Never trust a banker."
Counting the days to commercial fusion. It is not that long now.

choff
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Re: Why Isn't Wall Street in Jail?

Post by choff »

Every state and province in N.A. could take a page from these guys.

http://ellenbrown.com/2014/11/19/wsj-re ... ll-street/
CHoff

Diogenes
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Re: Why Isn't Wall Street in Jail?

Post by Diogenes »

"Riddles" Surround 36th Dead Banker Of The Year


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Geert Tack worked as a private banker for ING and managed portfolios of wealthy clients. The Belgian had a lot of respect in the financial world and was known as an up and top professional. His sudden disappearance was also smashed like a bomb. "If Tack himself was having trouble he has managed to keep it well hidden", say colleagues.



Nobody then could have guessed that the man would not return on Wednesday, November 5th to his wife in their villa Vondelen.

http://www.zerohedge.com/news/2014-12-0 ... anker-year
‘What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.’
— Lord Melbourne —

Diogenes
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Joined: Mon Jun 15, 2009 3:33 pm

Re: Why Isn't Wall Street in Jail?

Post by Diogenes »

Banker dies after becoming impaled on railings in 60ft fall from central London home next door to John Lennon's former house


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A banker has died after becoming impaled on railings after falling 60ft from the window of a luxury penthouse in central London, which is next door to John Lennon's former home.

Police were called to the exclusive block of flats in Montagu Square in Marylebone at about 5.20pm yesterday, but were unable to save the man who was in his early fifties.

Firefighters had to help police cut through the five foot high metal railings with an angle grinder, as part of attempts to free the man.

Metropolitan Police said the man's death was not being treated as suspicious but confirmed enquiries were being carried out into the circumstances surrounding his death.

http://www.dailymail.co.uk/news/article ... house.html
‘What all the wise men promised has not happened, and what all the damned fools said would happen has come to pass.’
— Lord Melbourne —

mvanwink5
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Re: Why Isn't Wall Street in Jail?

Post by mvanwink5 »

Died of natural causes, i.e. losing the wrong person's money.
Counting the days to commercial fusion. It is not that long now.

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