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HomeLibor Scandal: How Executives Must Have Known
Posted by Larry Doyle on December 20th, 2012 9:03 AM |
The intrigue surrounding the greatest financial fraud “of all time” could fill many a book and many a movie theatre. While the intrigue may make for riveting reading and viewing, the simple fact is this fraud comes with an exceptionally high cost for investors, consumers, and society as a whole.
How did the web of this manipulation grow so large? Where were the regulators and internal compliance people to snuff it out and bring some semblance of order to what can only be defined as “organized racketeering?”
While little focus has yet been shone on the regulators or those in compliance at the banks involved, we now begin to see some cracks in the Libor rigging foundation in terms of addressing the fact that senior executives were aware and involved in this manipulation. (more…)
“Hook ’em Horns” Complaint: State of Texas v. Goldman Sachs et al
Posted by Larry Doyle on July 2nd, 2010 12:42 PM |
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Is America supposed to believe that the economic crisis emanating on Wall Street and costing our economy trillions of dollars was all on the up and up and was merely a ‘perfect storm’? Although many on Wall Street and in Washington would have us believe just that, a true measure of ‘sense on cents’ dictates that we not be so naive.
Regrettably, our financial regulators and most state attorneys general have shown themselves to be incapable, unwilling, or incompetent in pursuing the massive financial transgressions and fraud that lie at the foundation of our crisis. Well, it is time for “hook ’em horns!!”
The Democratic candidate for Attorney General in the great state of Texas, Barbara Ann Radnofsky, has written a Legal Complaint and Legal Brief which form the basis for a lawsuit against Wall Street and the underlying fraud which has brought our nation to its knees. (more…)
