The bipartisan panel appointed by Congress to investigate the financial crisis has concluded that several financial industry figures appear to have broken the law and has referred multiple cases to state or federal authorities for potential prosecution, according to two sources directly involved in the deliberations.
Appear to have eh?
Yeah, I’d say so.
It’s not like there hasn’t been a running chronicle of these “apparent violations” of the law on The Market Ticker now for close to four years. It’s not like there hasn’t been sworn testimony before this very body that these institutions were knowingly selling off bad loans – paper they knew was trash, but sold anyway.
And it’s not like there wasn’t filed just today a lawsuit that laid out the mother and father of these frauds, from top to bottom, virtually every allegation that I’ve made over the last four years in relationship to home lending – all rolled up in one.
I’ll believe it when I see it.
That is, when actual charges are laid and we see some of these
Which, given Eric PlaceHolder, I expect to see roughly about the time Hell freezes over.