Daily financial crime blotter

Madoff under house arrest as SEC admits failure to act. Why does Madoff have bail at all? He should be in jail. As for the SEC and the failure of regulatory agencies, this isn’t just because of incompetence or neocon ideology, there’s no much money involved for that. I predict there will be criminal indictments of governmental officials for accepting bribes.

Dreier law firm files for bankruptcy after founder arrested. He shafted all his lawyers, looted escrow and client accounts, and no one had a clue, huh?

It’s really starting to look like our entire financial system is both rigged and corrupt.

More gloom and doom:

Chrysler will shut down for a month, Merry Christmas, workers.

States are running out of money to pay unemployment claims

Option ARMs and Alt-A mortgages about to reset. Could be worse than subprime.


  1. >It’s really starting to look like our entire financial system is both rigged and corrupt.

    You’re just figuring this out now? I thought I was behind the ball, having only been born in the 70s, and reading post-fact about the move off the gold system to the current Fed system. Ever since, we’ve been screwed. It was just a matter of time.

  2. Why don’t the victims of Bernie Madoff get together and get a lawsuit going to prove negligence on the FCC. It wouldn’t be hard to prove obviously. They also are at fault for not doing their job!!!! If they did their job our country wouldn’t be in this situation, and to hear he might be out in 15 to 20 years is totally outrageous!!!!!! Where is the justice in this country????? All we’ve seen these past few years is the rich literally getting away with murder and thievery. What is wrong with this justice system??? Makes a person wonder how much our justice system is getting paid not to apply the maximum sentence on Madoff and his wife????? AMERICANS WANT JUSTICE!!!!!! Is it so much to ask for justice????

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