Just to close the loop on a farce I’ve written about a couple of times recently (here and here), please try not to be too impressed by the optics of the publicly announced $1.37 billion fine agreed to by Standard & Poor’s to settle charges of inflating mortgage ratings. It’s rubbish. And it means the day is coming soon when the new financial industry scandal/scam will unfold and screw millions of hard-working people.
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Jonathan Tasini's Ruminations on Work, The Economy, and PoliticsTag Archive | "Mortgage Scams"
The $1.37 Billion Penalty That No One Is Responsible For Causing
Posted on 03 February 2015.
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Judge Skewers SEC Citibank Action As “Just For Show”
Posted on 11 November 2011.
May I introduce to you my hero for the day: Jed S. Rakoff of the Federal District Court in Manhattan. Yesterday, Rakoff said what we all know: the government, our government, is not serious about holding people accountable for the robbery and greed and incompetence that led to the financial collapse, costing millions of people […]
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