Pigman Subpoenas - It's About Time in [Market-Ticker]

Posted 2009-01-27 11:10
by Karl Denninger

Pigman Subpoenas - It's About Time

It is being reported on CNBC (and now on Marketwatch) that Andrew Cuomo (one of the few law enforcement folks who actually take the word law and enforcement as serious commitments, in my experience) has decided to subpoena former CEO Thain under the Martin Act (a securities guy's nightmare, as it is a criminal fraud statute!) related to the bonus payment move-up.

I'll say this - if Cuomo starts bringing charges related to the collapse and bullcrap that has gone on over the last year and a half, especially if he starts targeting the fools who paraded their companies around CNBC claiming they were "Well capitalized" days before collapse, I'll kiss Cuomo on the lips - and I'm not gay.

I'm truly impressed, and will pray nightly that Cuomo hasn't hired any $3,000/hour hookers that can be used to derail his investigation as happened with Spitzer.

Discussion below (registration required to post)

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User Info	Pigman Subpoenas - It's About Time in forum [Market-Ticker]
Fidgit Posts: 17784 Incept: 2008-02-18 Tax Unit #1,384,923,781	ooooooooo!!.... 2009-01-27 11:17:05 Permalink
Etz Posts: 13891 Incept: 2007-06-26 LA	You can tell Cuomo how you feel here, http://www.oag.state.ny.us/online_forms/.... ---------- Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora. 2009-01-27 11:25:32 Permalink
Zenthunder Posts: 6829 Incept: 2007-10-11	Hmm - what are the odds cuomo will suddenly run into trouble? This could get quite interesting. Hope it sticks. ---------- *** FRAUD is NOT a business model. HOPE is not a business plan! 2009-01-27 11:29:16 Permalink
Mezzmor Posts: 1175 Incept: 2008-10-09 Off the grid	But, but, but, Thain is repaying the 1.2 million he spent on his office! He's really a nice guy! Go get em Andrew. If you need some more cats to herd just read the WSJ. ---------- Once the "Progressive" and the "educated" have completely destroyed the country, the logical, the wise, and the experienced will rebuild it. 2009-01-27 11:33:43 Permalink
Tesla Posts: 15543 Incept: 2008-04-03 State of Disbelief	A shame Paulson, Bernanke, Lewis, Mozillo et al are probably located outside his jurisdiction. ---------- "Even a dog knows the difference between being stumbled over and being kicked." -Justice Oliver Wendell Holmes "Neither the wisest Constitution nor the wisest laws will secure the liberty and happiness of a people whose manners are universally corrupt." -Samuel Adams 2009-01-27 11:34:27 Permalink
Phirang Posts: 10157 Incept: 2008-10-25 Flogging a "little person"	You all mock her, but Congressman Waters' well-publicized indignation at BAC indicated a turning point. Unless, of course, you all think the media just reports "news" and has no agenda... ---------- I'm not special, and I am not likely to accomplish anything extraordinary in my life. If you are reading this comment, the case is most likely that neither will you. http://www.cracked.com/article_18544_how-the-karate-kid-ruined-modern-world.html 2009-01-27 11:34:33 Permalink
Mo Posts: 12158 Incept: 2007-06-26 Pa.	The election IS over. And somebody is going to have to be the bad guy. You can be sure elected officials will make sure it's not them. That leaves Wall Street pigmen, especially those with fewer ties to the party in power. ---------- Welcome to Pottersville 2009-01-27 11:45:12 Permalink
127001 Posts: 3516 Incept: 2008-05-21	message went through when I tried again. must have been a hiccup. Last modified: 2009-01-27 12:32:57 by 127001 2009-01-27 11:47:10 Permalink
Phirang Posts: 10157 Incept: 2008-10-25 Flogging a "little person"	Print out a copy and mail it to him. ---------- I'm not special, and I am not likely to accomplish anything extraordinary in my life. If you are reading this comment, the case is most likely that neither will you. http://www.cracked.com/article_18544_how-the-karate-kid-ruined-modern-world.html 2009-01-27 11:48:10 Permalink
Pika-steph Posts: 54732 Incept: 2007-09-11 Live Free Or Die; US Army Est. 1775	For Mr. Cuomo that he does not get 'Spitzered.' ---------- Stop the Looting; Start Prosecuting - http://www.FedUpUSA.org/ "The only regulation that really works is failure."--Rick Santelli 2009-01-27 11:52:50 Permalink
Etz Posts: 13891 Incept: 2007-06-26 LA	127 I didn't have any problem sending a message ---------- Legal chicanery and beneficent darkness are the banker's stoutest allies - F.Pecora. 2009-01-27 11:55:13 Permalink
Weezie Posts: 6070 Incept: 2008-05-19 Caution: Congress at Work	I was able to get a message through and basically thanked him for doing the job that the SEC should be doing - if everyone there wasn't paid off. I told him that he has support from people all across the country, not just New York. I also told him that I hope he doesn't have an addiction/hooker/gay lover/love child lurking in the background that will be unceremoniously dragged out in order to derail his efforts. ---------- The election is not a way to have a voice in government, but rather an impotent declaration if we prefer ketchup or mustard on our **** sandwich. 2009-01-27 11:57:09 Permalink
Jubber Posts: 14174 Incept: 2007-07-05 UK Online	They could put Old sparky in Times Square to carry out the Executions ---------- The problem with socialism is that, sooner or later, you run out of other peoples money. Thatcher 2009-01-27 12:29:44 Permalink
Alanha Posts: 2168 Incept: 2008-12-30 Banned	Thain? I'm slightly impressed. When Paulson and Cox are on the stand, or anybody at all associated with GS or JPM, or when the FBI scoops up fifty at once on a string a mass indictments, then I'll be very impressed. Prediction: No one in a regulatory or departmental bureaucracy will be indicted for anything. ---------- I was Bezzle's sock puppet before Tickerguy nailed my ass. 2009-01-27 13:06:35 Permalink
Terrapin Posts: 11 Incept: 2009-01-05 macon ga	You can be sure the Spitzer police will be "looking" under and over every rock Andrew ever was even near to take him down...watch your back Andy!! ---------- "It's a big club...and you ain't in it !" george carlin 2009-01-27 13:19:31 Permalink
Moniteyes Posts: 2411 Incept: 2008-11-28 ny Banned	Andrew has a good shot making some major political hay - he could do what his old man never could. ---------- 2009-01-27 13:25:04 Permalink
Binney Posts: 4185 Incept: 2008-08-27 Riverhead, NY	Moniteyes - you got it! Andrew is already politically connected - Wall St. connected , eh, not so much. If he keeps on this and strings up a few pigs by God he'll be a National Hero!!! I can see the bumper stickers now - Lets go Cuomo '12. ---------- write-in: Beelzebub When you just can't vote for the lesser of two evils any more. 2009-01-27 13:37:29 Permalink
Genesis Posts: 130798 Incept: 2007-06-26	---------- I don't care* if it makes sense -- only if it makes money. -- Me* Bank (n): See scam, fraud and theft. *Eat a bankster -- they're low-carb.* *What part of "shall not be infringed" was unclear?* 2009-01-27 13:39:17 Permalink
Snooze Posts: 2829 Incept: 2007-07-09 florida	Nice cooker.... Might not be big enough for a Wall Street Hogzilla ---------- Wealth is found in the warmth of the sun, in the coolness of moist soil, in the taste of fresh air, and in the pulse of your heart. Plant a seed and harvest your riches. 2009-01-27 13:43:15 Permalink
Pmadmin Posts: 5 Incept: 2008-02-26 Illinois	Heck, if this guy follows through with this, I'll buy him the hooker! On second thought, let him buy his own; he makes more than I do. 2009-01-27 13:45:14 Permalink
Blackswan Posts: 5564 Incept: 2007-11-06 Just outside of Philly	I sent a thank you to Mr. Cuomo. ---------- Its checkmate. Everywhere its checkmate. Hugh Hendry 2009-01-27 14:06:28 Permalink
Sp Posts: 66 Incept: 2008-02-26	There's the assumption that Thain only scammed the system once. Bad assumption. 2009-01-27 14:09:38 Permalink
Themortgagedude Posts: 8853 Incept: 2007-12-17 saint louis	Cuomo is clean guys. If not he just ***ed himself. ---------- I'm already visualizing you with duct tape over your mouth. 2009-01-27 14:12:43 Permalink*
Punch_rockgroin Posts: 1922 Incept: 2008-12-31 Pacific NW USA	Jubber: Forget the electric chair. They need to build electric BLEACHERS to properly address this. ---------- Put the boots to him. Medium style. 2009-01-27 14:37:00 Permalink