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278 comments on Paulson and Bernanke ratchet up the blackmail talk

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ccpo on September 23, 2008 - 10:57pm Permalink | Subthread | Parent | Comments top

Political power? Hah! Since when has the FBI been independent? Not in the last seven years... No, I posit this is nothing more than scapegoating. Those eventually "caught" will be blamed for it all and the focus kept as far away from the truth as possible. Then they will be given sentences better suited to jaywalking and/or pardoned. And America will snore through it.

I offer Abu Grahib and Scooter Libby as proofs of concept.

Cheers

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BrianT on September 23, 2008 - 11:14pm Permalink | Subthread | Parent | Comments top

They will probably conclude that Martha Stewart is Ms. Big behind the whole scam.

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tonyw on September 24, 2008 - 7:28am Permalink | Subthread | Parent | Comments top

The article says there have been 26 investigations over the past year. How many successful prosecutions? I doubt that the FBI will have the ability to get very far with this since these companies under investigation will have used much legal advice to ensure what they did was not going to send them to jail. It might not have been right but was almost certainly legal.

The "independent" rating agencies will have provided valuations and so it will be difficult to prove they have misrepresented their assets.

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278 comments on Paulson and Bernanke ratchet up the blackmail talk

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