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|User Info||MF Global: The SERIOUS Issues Reach Mainstream Media; entered at 2011-12-08 10:09:00|
Registered: 2010-12-18 Wisconsin
What's the point of having elaborate US securities laws when they can be easily circumvented with a simple "loophole"? What a ****ing joke ...
Allegedly, there's Sarbanes-Oxley to hold executives accountable for wrongdoing that goes on in the companies they run. Of course, allegedly there's a Department of Justice that actually enforces the laws of this country on all people, instead of selectively choosing which cases to prosecute and settling for small fry time after time while rampant fraud goes not only unchecked and unpunished, but gets rewarded by the Fed and the Treasury.
The fact that both Mozillo and Fuld are walking around as free men is galling enough; the fact that neither one of them were ever criminally charged [and won't be] is even worse. Add on statement after statement from executives who admitted they engaged in fraud and the fact that none of them have ever been threatened with prosecution, and you wonder what the hell has to happen before someone finally gets taken to court for wrongdoing.