Judge Rakoff: Why Have No High Level Executives Been Prosecuted In Connection With The Financial Crisis?
Posted by Larry Doyle on November 14th, 2013 11:15 AM |
It is not often that I have had the pleasure of reading and reviewing two Sense on Cents instant classics in the course of just a few days but today I am excited to bring you another absolute MUST READ.
None other than Judge Jed Rakoff, who has heard many of the major financial suits brought over the course of the last few years, spoke the other day to the New York City Bar Association regarding the question so many in our nation still ask, “Why have no high level executives been prosecuted in connection with the financial crisis?”
In what might have been a fabulous foreword to my upcoming book, Rakoff skillfully delivers what I believe is an incredibly excoriating indictment of those within the Department of Justice,the SEC, and elsewhere. (more…)
Posted by Larry Doyle on September 23rd, 2013 10:02 AM |
I thank the many devoted readers of Sense on Cents who made sure I was aware of a riveting, must-read article in yesterday’s New York Times written by Bill Cohan, a Wall Street-Washington critic without peer.
Cohan writes of the travails of Richard Bowen, former whistleblower at Citigroup, who ran headlong into the fortress manned by Robert Rubin and friends. Bowen was a Citi employee who blew the whistle regarding the preponderance of defective mortgages running through the Citi pipeline.
He brought the knowledge of this activity to the highest perch within the bank including the attention of Robert Rubin. How was he treated? With what most would define as ‘the silent treatment.’ Once silenced, he was then subsequently shown the door.
While Bowen was pushed out of Citigroup back in 2009, he has not been silenced since then. (more…)
Posted by Larry Doyle on April 8th, 2010 9:15 AM |
Perhaps no one single individual is more representative of the Wall Street-Washington incestuous relationship than Robert Rubin.
Today, Mr. Rubin will provide testimony to the Financial Crisis Inquiry Commission which is charged with investigating the root causes of the economic crisis which emanated on Wall Street. Will the FCIC allow Mr. Rubin to hide behind the veil of platitudes, unnamed consultants, unknown risks, and the like? Will the FCIC finally stand up for American citizens and drill Mr. Rubin to expose the deeply embedded, culturally corrosive nature of the incestuous relationship between Wall Street and Washington? (more…)