dolphin314etc
New member
Why isn't RICO being used to Prosecute Goldman Sachs?
The CEO collects $70 million a year. His employees and contractors commit fraud on a massive scale, ultimately causing $10 Trillion worth of losses worldwide. Goldman Sachs manipulates Washington DC into giving $381 Billion to AIG so that Goldman Sachs will not lose money on its counterparty deals with AIG. The total TARP money is around $1 Trillion. Goldman Sachs now has $65 Billion cash on hand in the bank.
And out of all this comes a Civil Suit by the toothless SEC for $1 Billion against a low level operative working with Goldman Sachs.
No Criminal case is filed. No RICO case.
See if there were a RICO case and Goldman Sachs was found to be a criminal enterprise organized and run for the purpsoe of committing massive fraud, then the $65 Billion could be forfeited. Also a few dozen high level executives at Goldman would get 25 year sentences like the Enron people did (Skilling etc).
This a actually a very mild suggestion. What I would really like to see is all the big NYC Banks taken over and put into winding up processes, which could involved selling their assets, or selling parts off to foreign banks, or selling parts to local community banks. The equity value of the Big NYC Banks, to the extent it is recoverable should be applied to paying down the national debt. This would ensure no repetition. They wouldn't be too big to fail, because they would not exist.
The message would go forth -- if you want money create something of value, don't just swindle people. If you make your money by fraud and unfair dealing, then beware because the government will take your assets and put you in jail. This message would have to be pounded in for about 10 years -- a few thousand cases of executives that just didn't get the word -- that's OK we can build an annex onto Allenwood.
A couple of decades from now America would be a straight up country. No trillion dollar crooks anyway. Probably a few shoplifters here and there -- but the land would be cleaned of firms such as Goldman Sachs, and the others on Wall Street and Banker's Row in NYC.
DOJ could do America a big service. The problem is that Obama is not really sincere about cleaning up the financial industry -- or let's say he's about as sincere as Barney Frank and Chris Dodd. Obama is really wimpy in war, wimpy in peace, a limp creampuff whose main skill is writing autobiographies about himself and his dreams of change and his audacity and hope.
The CEO collects $70 million a year. His employees and contractors commit fraud on a massive scale, ultimately causing $10 Trillion worth of losses worldwide. Goldman Sachs manipulates Washington DC into giving $381 Billion to AIG so that Goldman Sachs will not lose money on its counterparty deals with AIG. The total TARP money is around $1 Trillion. Goldman Sachs now has $65 Billion cash on hand in the bank.
And out of all this comes a Civil Suit by the toothless SEC for $1 Billion against a low level operative working with Goldman Sachs.
No Criminal case is filed. No RICO case.
See if there were a RICO case and Goldman Sachs was found to be a criminal enterprise organized and run for the purpsoe of committing massive fraud, then the $65 Billion could be forfeited. Also a few dozen high level executives at Goldman would get 25 year sentences like the Enron people did (Skilling etc).
This a actually a very mild suggestion. What I would really like to see is all the big NYC Banks taken over and put into winding up processes, which could involved selling their assets, or selling parts off to foreign banks, or selling parts to local community banks. The equity value of the Big NYC Banks, to the extent it is recoverable should be applied to paying down the national debt. This would ensure no repetition. They wouldn't be too big to fail, because they would not exist.
The message would go forth -- if you want money create something of value, don't just swindle people. If you make your money by fraud and unfair dealing, then beware because the government will take your assets and put you in jail. This message would have to be pounded in for about 10 years -- a few thousand cases of executives that just didn't get the word -- that's OK we can build an annex onto Allenwood.
A couple of decades from now America would be a straight up country. No trillion dollar crooks anyway. Probably a few shoplifters here and there -- but the land would be cleaned of firms such as Goldman Sachs, and the others on Wall Street and Banker's Row in NYC.
DOJ could do America a big service. The problem is that Obama is not really sincere about cleaning up the financial industry -- or let's say he's about as sincere as Barney Frank and Chris Dodd. Obama is really wimpy in war, wimpy in peace, a limp creampuff whose main skill is writing autobiographies about himself and his dreams of change and his audacity and hope.