Sunday, January 29, 2012
What the RMBS Working Group should do
Gretchen Morgensen reviews the results of the DoJ and SEC litigation against the Wall St fraudsters and compares thhem to the results of private litigation.
It is to be expected that investigators for private law firms will turn up loads of ammunition to help them in their court battles. But in the past, law enforcement was similarly aggressive in its own pursuits.She suggests that the government should work with and make use of the evidence uncovered by private litigants. A nice idea but it suggests that the presence of AG Schneiderman will cause the government leopard to change its spots. Newts moon bases are more likely.
Now, the balance seems to have shifted, with private litigants doing more legal heavy lifting than those who serve the public.
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