U.S. Marshals seize Madoff home, boats in Florida
Reuters: U.S. Marshals on Wednesday seized a $9.4 million luxury home in Florida belonging to disgraced Wall Street financier Bernard Madoff and his wife after earlier confiscating two of their leisure boats.
Yes! That's what I want to see - capped off with a life sentence - though I won't be satisfied until that bitch wife of his is cleaning toilets.
And that's what we need to do, but on a much grander scale. The Feds should have a very hefty database of names of people involved in the great scams of the last decade - mortgage brokers, mortgage company executives, CDO bundlers, over-the-counter CDS underwriters, mutual-fund managers with loose tongues, CEO's pumping their stocks - and all their likely possessions. Such a list should be very simple for the USG to compile, using available public records.
Just using existing laws, RICO for instance, we could just start confiscating these properties en masse. If the seriousness of our current financial situation combined with the enormity of the crimes not be sufficient to dissuade the judiciary from interfering, Congress could easily pass a law more explicitly authorizing this action. Given the shenanigans that went on, it's hard to imagine we couldn't successfully prosecute most of these cases, time being the only limitation. We can offer plea deals where the defendants agree to give up claims to the confiscated property should the prosecutorial load be too onerous.
If I were president, of course, I would direct every lawyer working for the government to be assigned to prosecution of the crooks involved in the Great Looting and securing their ill gotten gains. Maybe now that Obama is feeling a little intoxicated from the rush of firing the CEO of GM, he might find this kind of thing fun and give it a try. I would be most cathartic for the nation.
Yes! That's what I want to see - capped off with a life sentence - though I won't be satisfied until that bitch wife of his is cleaning toilets.
And that's what we need to do, but on a much grander scale. The Feds should have a very hefty database of names of people involved in the great scams of the last decade - mortgage brokers, mortgage company executives, CDO bundlers, over-the-counter CDS underwriters, mutual-fund managers with loose tongues, CEO's pumping their stocks - and all their likely possessions. Such a list should be very simple for the USG to compile, using available public records.
Just using existing laws, RICO for instance, we could just start confiscating these properties en masse. If the seriousness of our current financial situation combined with the enormity of the crimes not be sufficient to dissuade the judiciary from interfering, Congress could easily pass a law more explicitly authorizing this action. Given the shenanigans that went on, it's hard to imagine we couldn't successfully prosecute most of these cases, time being the only limitation. We can offer plea deals where the defendants agree to give up claims to the confiscated property should the prosecutorial load be too onerous.
If I were president, of course, I would direct every lawyer working for the government to be assigned to prosecution of the crooks involved in the Great Looting and securing their ill gotten gains. Maybe now that Obama is feeling a little intoxicated from the rush of firing the CEO of GM, he might find this kind of thing fun and give it a try. I would be most cathartic for the nation.
posted by ziel | 4/01/2009 09:52:00 PM
3 Comments:
thumbs up here : )
I'm still not sure if this is sarcastic or genuine.
I am 100% serious - I know it's not going to happen, but I think it should. There was a tremendous amount of ill-gotten gains. Sure many of the perpetrators are now broke, but I'm sure there are many executives who are relying on plausible deniability. It wouldn't take much to lean on some of the operators in the mortgage fraud racket to start naming names right up the line.
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