If someone robs a 7-11-they took $500 & they were able to settle the next day for $50 & no.......

[kpete]

Lisa Murphy of Bloomberg interviewed the chairman of the now defunct FCIC, Phil Angelides to discuss the findings presented yesterday by Carl Levin. The topic was the "greased pig" that is Wall Street. The conclusion is that America now has a dual justice system: "One for ordinary people and then one for people with money and enormous wealth and power." As for crime deterrents, considering that to this day not one person has gone to prison, even an idiot can foresee what Angelides has to say on this issue: "To the extent laws were broken, we need deterrents. If someone robs a 7-11, they took $500 and they were able to settle the next day for $50 and no admission of wrongdoing, they'd knock over that 7-11 again. And we've seen time after time where people and firms have made tens, one hundreds, billions of dollars. They've settled charges for pennies on the dollar. At Citigroup for example they represented that they had $13 billion of subprime mortgage exposure when they really had $55 billion. The penalty to the chief financial officer who made $19 million that year, 2007, was $100,000. Goldman was fined $500 million but the date they settled their stock moved up $2 billion. There's been no real consequence..."

http://www.zerohedge.com/article/phil-angelides-discusses-americas-dual-justice-system-one-wall-street-and-one-everyone-else
http://www.dailykos.com/story/2011/04/16/967481/-The-Pirates-of-Capitol-Hill

[obxhead]

1. k&r

[Overseas]

2. K&R !

Powerful example.

[The Backlash Cometh]

3. Yep. It's easier to beg for forgiveness than it is to ask for permission.

That is, assuming you're the kind of person that can bank on leniency.

[Solly Mack]

4. K&R

[madrchsod]

5. the french chopped off their heads...

[crickets]

6. "they'd knock over that 7-11 again" and again, and again... K&R -nt

[Enthusiast]

7. This needs a brazillian recommendations. nt

[opihimoimoi]

8. KnR 59

:kick:

[Shagbark Hickory]

9. Cap'n Kickaroo

:kick:

[midnight]

10. K&R. These thugs have been running a dual system for a very

long time...

[Tuesday Afternoon]

11. I regret that I have only one K&R to give to this thread.

I hate that fucking greased pig with a passion.

[handmade34]

12. good analogy

[Takket]

13. it is ironic.......

That the 7-11 example used to symbolize the lack of consequences for Wall Street is actually nowhere even near comparable to the actual wall street fines. The robber at 7-11 has been forced to pay back 10% of his "stealings". That 100,000 paid back by the Citigroup CFO was only 0.5% of the 19 million he took home for swindeling the entire populace of the United States. The equivalent of that 7-11 robber being fined $2.63 for stealing $500

[Hubert Flottz]

14. K&R