The Scam Wall Street Learned From the Mafia
All of this results from willful ignorance. We chose to forget the lessons of the Great Depression: All banks and other financial institutions must be regulated, indeed require regulation to function properly. The events described in this story prove this.
MATT TAIBBI - Rolling Stone
Someday, it will go down in history as the first trial of the modern American mafia. Of course, you won't hear the recent financial corruption case, United States of America v. Carollo, Goldberg and Grimm, called anything like that. If you heard about it at all, you're probably either in the municipal bond business or married to an antitrust lawyer. Even then, all you probably heard was that a threesome of bit players on Wall Street got convicted of obscure antitrust violations in one of the most inscrutable, jargon-packed legal snoozefests since the government's massive case against Microsoft in the Nineties – not exactly the thrilling courtroom drama offered by the famed trials of old-school mobsters like Al Capone or Anthony "Tony Ducks" Corallo.
But this just-completed trial in downtown New York against three faceless financial executives really was historic. Over 10 years in the making, the case allowed ...
Read More - http://www.rollingstone.com/politics...620?print=true





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