Wall St. Muni Bid-Rigging Conspiracy Involved At Least 12 Firms Including JPMorgan, Lehman, According To New Suit

bloomberg.com:

JPMorgan Chase & Co., Lehman Brothers Holdings Inc. and UBS AG were among more than a dozen Wall Street firms involved in a conspiracy to pay below-market interest rates to U.S. state and local governments on investments, according to documents filed in a U.S. Justice Department criminal antitrust case.

Read the whole story: bloomberg.com

Comments

[almost homeless]

01:33 AM on 03/30/2010

Crime # 13,754 by wallstreet.

Convictions = 14.

[drkazmd65]

10:56 PM on 03/28/2010

Remind me again why it is that we shouldn't be regulating, monitoring, and limiting the size and impact of these financial whores,....

All they seem to do is find better, bigger, more extravagant means to screw everybody NOT part of their little club.

[sandzw007]

01:09 PM on 03/27/2010

Here is a perfect example and time for this Administration to show it means business. Take these guys down quickly, intelligently and publicly. Put owners/officers in jail. Close the companies that need to be closed and then you will get real support for your causes and strengthen your Administration. I won't hold my breath.

[Patriot86]

02:41 PM on 03/27/2010

We may finally get to see these banker thugs doing the perp walk...it can not happen to soon.These people are crim inals.

[Rule Of Law]

01:30 PM on 03/28/2010

The government should do just as these criminals do--say anything to (get elected, get a bailout, whatever) and once you get the money, do whatever thehell you want!

In this case, take the campaign contributions, smile and pat them on the back for their support, while you're preparing federal charges!

[Kevin Atlanta]

10:45 AM on 03/27/2010

One more reason to End the FED. Paulson and Bernanke give these greedy Corporate Communists 0% freshly printed money and they are so grateful and motivated that they steal from municipalities, Universities and rape the public twice.
It's a good gig if you can get it.
You have to be a banker to rob the bank legally.

[ThinkingPatriot]

12:37 AM on 03/27/2010

Give them all an all-expense-paid trip to Club Fed. Stealing millions and billions from cash-strapped municipalities is worse than dealing crack, right? I'd say a mandatory minimum of 30 years with no plea bargains.

[falco]

07:15 PM on 03/26/2010

Shouldn't this be front page news. Headlines??

[LeeCalif]

04:43 PM on 03/26/2010

Two of General Electric's financial companies are involved .........

GE. They stay away from the light.

[Bloviator88]

04:35 PM on 03/26/2010

If Wall St does it, it is not illegal. Is that not Obama's credo? Watch for nothing on this story. From anyone.

[FreedomCorpse]

11:31 AM on 03/27/2010

same as bush. Bush fired the director of the Office of Federal Housing Enterprise Oversight in 2004 for repeatedly issuing warnings of Systemic crisis in housing markets.

[pragmaticdallasite]

05:37 PM on 03/29/2010

Link?

[BlueSkyPilot]

03:37 PM on 03/26/2010

Racketeer Influenced and Corrupt Organizations (RICO) Act, Title 18, United States Code, Sections 1961-1968. Passed in order to eliminate the ill-affects of organized crime on the nation's economy.

Bring them all to trial.

[spinns17]

02:58 PM on 03/26/2010

gee wall street crooks .who would have thought .lol

[magibrotherhood]

02:44 PM on 03/26/2010

where are the indictments ?

Attorney General Holder ?......Hello ?......Hello ?

[spinns17]

02:58 PM on 03/26/2010

they own them all.

[magibrotherhood]

03:00 PM on 03/26/2010

certainly looks that way.

[lightningbolt]

04:53 PM on 03/26/2010

Holder's job is to cover it up and make sure nobody important is indicted.

[DFL]

01:58 PM on 03/26/2010

Go get 'em dems! I hope these robber-barrons get what they deserve.

[marijam]

11:57 AM on 03/26/2010

Read the bloomberg.com article. The article states that this administration is prosecuting these banks. How is that being controlled by the White House? How is that being controlled by Congress? This justice department is working for us. People have pled guilty and are giving evidence.

[Tom95134]

12:30 PM on 03/26/2010

Obviously you don't understand the structure of our government. The Department of Justice is organized under the administration. Therefore, the administration per se is prosecuting.

[LemonMeringue]

11:54 AM on 03/26/2010

Democrats: You cannot be the party for the people and the party for the bankers at the same time.

DO SOMETHING before November. Show what side you are on.

[mrspiffy]

11:42 AM on 03/26/2010

Shocker.

http://yieldpig.blogspot.com/