Its just all so . . . complex, doncha know.

That seems to be the overriding theme of this article from Huffington Post. Not the viewpoint of the reporter but of the apologists explaining and justifying why no prosecutions and perp walks.

http://www.huffingtonpost.com/2011/02/04/financial-crisis-prosecutions-wall-street-slow_n_818851.html

Financial Crisis Prosecutions On Wall Street Slow To Develop Despite Cries For Justice
Shahien Nasiripour
First Posted: 02/ 4/11 03:24 PM Updated: 02/ 4/11 07:20 PM

But those powers haven’t been used enough, experts say. The law-enforcement agencies suffer from a lack of combativeness. They’re handicapped by the fact that they’re looking at potential violations not while they’re in the act, but long after they were committed. And they deal with complicated transactions that could be difficult to explain to juries, rendering their efforts to take cases to trial more challenging.

“These are tremendously difficult cases to make,” said retired federal judge Stanley Sporkin, who worked at the SEC for 20 years, seven of them as head of the commission’s enforcement division.

I guess we’re all just too stoopit to understand the complexity of how we’ve been screwed. And the bad stuff happened in the past and all and we all just need to look ahead.

I don’t know, some of it seems pretty simple to me. It seems to me:

*if you sell something called “Mortgage Backed Securities” that perhaps they should be backed by actual mortgages that were actually legally transferred into the trust. If they’re not, a simple person would think that you were selling a candy box with no candy.

*it’s kind of crappy to sell your investors crap labeled as candy that you are allowing people going short to customize for highest possible yield on the downside. It would be really, really crappy if you too were taking the downside and not telling your clients.

*any process that allows you to repackage mortgages that were previously rated junk into a new CDO and miraculously have them turn into AAA rating seems highly suspicious. Some call it alchemy, others call it something else

*only the actual legitimate owner of a debt should be the one foreclosing and it shouldn’t be all that hard to prove you’re the legitimate note holder. Seems like you could prove it without a lot of weird after the fact created to order fake paperwork.

*robosigning thousands of documents and swearing that you have personally examined and attest to the contents seems kind of like lying.

*so does forging notary signatures and misusing notary stamps

*jerking people around for months and years while pretending to modify a mortgage you have no intention of modifying in order to drives up fees and expenses looks a lot like a very conscious consumer fraud

*saying you had no idea of what you were doing and that no one could have predicted the subsequent collapse and the macro consequences of your actions makes you all look dumber than paint and twice as stoopit as the Americans you think are too dumb to follow along.

Was Teapot Dome complex? Was Enron? Was Madoff? Was the S&L? Was Milkikin and Junk Bonds? Was WorldCom and Bernie Ebbers?

I have never read a bigger load of s!@t that this particular scam/con was any more complex or harder to understand than any that have happened previously. What is clear is that there is NOW no will to prosecute because of the massive corruption and cronyism that has infiltrated and infested apparently every single branch of our government.

janeeyresick

janeeyresick

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