Tuesday, January 25, 2011
The game is afoot!
After working hard to get done within the restricted time frame of Congress and being dissed by the Wall St criminal class, the Angelides Commission is done.
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.That is good news and bad news. Good if the state prosecutors can make their charges stick. Bad because anything referred to the DoJ or any other federal agency, has a snowball's chance in Hell of being successful. Still we will wait to see if any of the fish are big enough to catch.
The sources, who spoke on condition they not be named, declined to identify the people implicated or the names of their institutions. But they characterized the panel's decision to make referrals to prosecutors as a significant escalation in the government's response to the financial crisis. The panel plans to release its final report in Washington on Thursday morning.
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