Oh look, show trials complete with plea deals that are entered at the same time as are the charges!
Federal prosecutors unveiled criminal charges against three former Credit Suisse Group AG employees, providing a window into the way traders allegedly invented inflated values for mortgage bonds during the financial crisis.
Two of the three men pleaded guilty to criminal charges of conspiracy, admitting they attempted to conceal the scheme from managers in a bid to boost their bonuses.
Yes, and happy days are here again, the bad guys are all in prison and we can all go back to our work.
One employee was captured on a taped call worrying that “someone is going to spot” the inflated prices, prosecutors said. When another employee told his boss he should book a large loss, the boss allegedly balked: “That’s a lot of money, dude,” according to a taped conversation cited by prosecutors.
Wait a second… Taped call eh? From 2007 and 2008? Can someone please explain why it’s four years later when we’re seeing these charges?
Oh, I wonder if the delay has anything to do with this?
A U.S. Justice Department source has told The Daily Caller that at least two DOJ prosecutors accepted cash bribes from allegedly corrupt finance executives who were indicted under court seal within the past 13 months, but never arrested or prosecuted.
The sitting governor of the U.S. Virgin Islands, his attorney general and an unspecified number of Virgin Islands legislators also accepted bribes, the source said, adding that U.S. Attorney General Eric Holder is aware prosecutors and elected officials were bribed and otherwise compromised, but has not held anyone accountable.
The bribed officials, an attorney with knowledge of the investigation told TheDC, remain on the taxpayers’ payroll at the Justice Department without any accountability. The DOJ source said Holder does not want to admit public officials accepted bribes while under his leadership.
Say it isn’t so! I mean, c’mon — there hasn’t been anything going on with bribery when it comes to, oh, Jefferson County in Alabama, right? We haven’t actually seen municipal officials go to prison while the banksters who booked outsized profits (and after all, for there to be a bribe someone must offer a bribe while someone else receives said bribe) walk around chuckling, right?
But this allegation is a new low — if true, then there are people walking around right now who had indictments filed under seal but the indicted handed over the proverbial “big envelope” and, well, people sorta “forgot” about it.
Read the whole story over at Daily Caller. It’s disgusting, and one has to assume that if this occurred in that context it is probably not an isolated incident.