Category: Crimes

I Will Write No More About Penn State, No More, Forever

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Because I can add absolutely nothing to what Charlie Pierce has said:

It was midway through the pregame prayer session that the gorge hit high tide. There is always something a little nauseating in large spectacles of conspicuous public piety, but watching everyone on the field take a knee before the Penn State-Nebraska game, and listening to the commentary about how devoutly everybody was praying for the victims at Penn State, was enough to get me reaching for a bucket and a Bible all at once. It was as though the players and coaches had devised some sort of new training regimen to get past the awful reality of what had happened. Prayer as a new form of two-a-days. Jesus is my strength coach. Contrition in the context of a football game seemed almost obscene in its obvious vanity.

…………

If that blights Joe Paterno’s declining years, that’s too bad. If that takes a chunk out of the endowment, hold a damn bake sale. If that means that Penn State spends some time being known as the university where a child got raped, that’s what happens when you’re a university where a child got raped. Any sympathy for this institution went down the drain in the shower room in the Lasch Building. There’s nothing that can happen to the university, or to the people sunk up to their eyeballs in this incredible moral quagmire, that’s worse than what happened to the children who got raped at Penn State. Good Lord, people, get up off your knees and get over yourselves.

…………

This is a searing, and completely relevant, indictment of the hypocrisy surrounding the response of Penn States, and its apologists.

Read the whole thing.

About Time…

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It look like Prosecutors have finally gotten the guts to prosecute a bishop for concealing child abuse:

The first U.S. bishop criminally charged with sheltering an abusive clergyman has been accused of failing to protect children after he and his diocese waited five months to tell police about hundreds of images of child pornography discovered on a priest’s computer, authorities said.

Bishop Robert Finn and the Kansas City-St. Joseph Catholic Diocese have pleaded not guilty on one count each of failing to report suspected child abuse, officials said Friday.

Prosecutor Jean Peters Baker said Finn and the diocese were required under state law to report the discovery to police because the images gave them reason to believe a child had been abused.

“Now that the grand jury investigation has resulted in this indictment, my office will pursue this case vigorously,” Baker said. “I want to ensure there are no future failures to report resulting in other unsuspecting victims.”

The indictment, handed down Oct. 6 but sealed because Finn was out of the country, says the bishop failed to report suspicions against the priest from Dec. 16, 2010, when the photos were discovered, to May 11, 2011, when the diocese turned them over to police.

Finn denied any wrongdoing in a statement Friday and said he had begun work to overhaul the diocese’s reporting policies and act on key findings of a diocese-commissioned investigation into its practices.

“Today, the Jackson County Prosecutor issued these charges against me personally and against the Diocese of Kansas City-St. Joseph,” said Finn, who officials said was not under arrest. “For our part, we will meet these announcements with a steady resolve and a vigorous defense.”

Finn faces a maximum penalty of one year in jail and a $1,000 fine if convicted of the misdemeanor. The diocese also faces a $1,000 fine.

Maybe if some of these guys at the top start seeing the inside of the jail cell, they will stop aiding and abetting sexual abuse among their ranks.

Heard About the Shooting at the Salon In California?

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Click for full size


See the License Plate Frame?

Normally, I don’t say anything about such things, but then a friend pointed out the license plate frame on the shooter’s truck. (See the join the tea party dot us URL?)

From reports, this is not a politically motivated shooting, and I have no reason to believe that it is.

That being said, what is clear is that there are a lot of teabaggers with easy access to firearms and a few screws loose, and there are a lot of people out there who are giving encouragement for them to go postal (Limbaugh, Beck, O’Reilly), and the fact that a few of them are going do decide to do very bad things as a result is more probable than just possible.

H/t Hedgehog at SP.

More Foreign Worker Visa Fraud

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It turns out that notorious software off shoring operation Infosys decided at some point that cheating H1b visa fraud was too damn much time and money so they have become more inventive:

In a case that threatens to scald Infosys in the North American market, from where it gets over 60% of its revenues, and intensify the debate on outsourcing in the US, Jack Palmer said the company was circumventing H-1B visa rules by sending low-level and unskilled employees to the US on B1 visas instead.

H-1B visas, which are needed to send employees to work in the US, have become more expensive and harder to get than B1 visas that are only meant for meeting, conferences and business negotiations. Palmer, who has been working with the company since 2008, further said that Infosys managers in the US were intentionally committing fraud to avoid paying taxes locally and that the company mistreated him when he filed a complaint as part of the whistleblower policy.

Outsourcing has been an inflammable issue in the US as it continues to struggle with high unemployment. The Indian IT services have often been accused of taking away American jobs to cheaper destinations. This anti-outsourcing sentiment has also resulted in visa norms becoming more stringent in the past few years.

This raises an interesting point.

My solution to H1b visa abuse, it’s largely used to bring in cheap labor and depress wages, is to raise the cost of the application and permitting process, but obviously this would tend to drive exactly this sort of fraud.

I’m beginning to think a bounty program, with people who rat out their employers getting 3 to 5 year work permits, might be the most effective way to deal with enforcing the laws.

H/t Naked Capitalism.

I Think that Jimmy Murdoch is Going to Jail…

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Of course, if the Parliamentary inquiry committee had sworn him in, it would have been even more likely.

You see, according to tow of James Murdoch’s staffers, he was specifically made aware of the phone hacking when he signed off on settlements with litigants:

James Murdoch has been accused of misleading the parliamentary select committee this week in relation to phone hacking, igniting yet another fire for the embattled News International boss to extinguish.

In a highly damaging broadside, two former News of the World senior executives claimed the evidence Murdoch gave to the committee on Tuesday in relation to an out-of-court settlement to Gordon Taylor, chief executive of the Professional Footballers Association, was “mistaken”.

The statement came as something of a bombshell to the culture, sport and media select committee, which immediately announced it would be asking Murdoch to explain the contradiction.

Colin Myler, editor of the paper until it was shut down two weeks ago, and Tom Crone, the paper’s former head of legal affairs, said they had expressly told Murdoch of an email that would have blown a hole in its defence that only one “rogue reporter” was involved in the phone-hacking scandal.

This contradicts what Murdoch told the committee when questioned on Tuesday.

As an aside on the media, if you want to follow this, I recommend two sources, the Guardian, which really went out on a limb in following this for years, and Keith Olbermann who has been on this like white on rice.

When Liberal Policies Save Money

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Philadelphia, PA effectively decriminalized possession of small quantities of marijuana and saved big bucks in the process:

Just over a year ago, the powers that be in Philadelphia effectively decriminalized possession of small amounts of marijuana by offering offenders the chance to enroll in a three-hour class that would expunge the offense from their records. Not only did this give Philadelphia police more time and energy to focus on more serious crimes, it has also saved the city a pretty sizable Ziploc bag of green stuff.

“We were spending thousands of dollars for when someone possessed $10 or $15 worth of weed,” District Attorney Seth Williams tells the Philadelphia Daily News. “It just didn’t make any sense.”

Under the program, being caught with up to 30 grams of marijuana is no longer a misdemeanor but a summary offense. By simply paying $200 to attend the three-hour class on the ills of drug use and abuse, the arrestee’s record is wiped clean of the offense.

Before this change, offenders faced up to $500 in fines and possible, though unlikely jail time. If the suspect fought the charges, this meant expenses for the city — prosecutors, judges, lab tests, public defenders, etc. By all but decriminalizing pot, Williams estimates that the city has saved $2 million in the last 12 months.

Additionally, police tell the News that there has been no noticeable impact on the quality of life in Philadelphia since the program went into effect.

No big surprise.

When the DA notes that, “The current way most U.S. authorities treat drug possession is shortsighted,” he ain’t kidding.

If I were a governor, this would be the first place that I would balance the budget.

I’m Calling a Political Hit By Sarko

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As you may have heard, Dominique Strauss-Kahn has been released on his own recognizance for the rape charges against him:

The sexual assault case against Dominique Strauss-Kahn is on the verge of collapse as investigators have uncovered major holes in the credibility of the housekeeper who charged that he attacked her in his Manhattan hotel suite in May, according to two well-placed law enforcement officials.

Although forensic tests found unambiguous evidence of a sexual encounter between Mr. Strauss-Kahn, a French politician, and the woman, prosecutors now do not believe much of what the accuser has told them about the circumstances or about herself.

Since her initial allegation on May 14, the accuser has repeatedly lied, one of the law enforcement officials said.

Senior prosecutors met with lawyers for Mr. Strauss-Kahn on Thursday and provided details about their findings, and the parties are discussing whether to dismiss the felony charges. Among the discoveries, one of the officials said, are issues involving the asylum application of the 32-year-old housekeeper, who is Guinean, and possible links to people involved in criminal activities, including drug dealing and money laundering.

What prosecutors have discovered is that:

  • She had a phone conversation with a friend, who is in prison pending drug dealing charges, discussing the financial benefits of pursuing the case.
  • She appears to have lied about a gang rape on her asylum application.
  • She appears to have been used in, or participated in, some manner to launder cash and cell phones for her fiance’s operations. 

Seeing as how DSK was the leading Socialist candidate for the French presidency, and Nicolas Sarkosy is as about as popular as a case of the clap, I’m wondering if this wasn’t some sort of setup arranged by Sarkosy or his allies.

I don’t think that Sarko can make himself popular, but he could create a situation in which a contested primary by the Socialists could create disarray in the party* which could be used to his electoral advantage.

Google™ Analytics™ says that I do have an occasional reader from France, and I would love to hear their take on this.

*In fact, one could consider disarray to be the natural state of the Socialist party.

Our Society is So Completely F%$#ed Up……

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That a man just robbed a bank so that he would be thrown in jail and get healthcare:

A 59-year-old man recently walked into a bank in Gastonia, NC, intent on robbing one dollar — no more or less — from the financial institution. Was it because he was aiming low for his first foray into bank robbery? No, he says it was because he needs medical care and the only way he could think to afford it was by going to prison.

“It wasn’t done for the monetary value. It was done for medical reasons,” he tells WCNC-TV in the video interview below. “I went in knowing i was going to jail.”

In fact, the man told the teller he robbed that he was unarmed and that he’d be waiting for the police in a chair near the entrance.

Before going on his wild crime spree, the man, who says he’s got a bad back, sore foot and a growth on his chest, wrote a letter to the Gaston Gazette newspaper explaining his reasons and saying, “I am of sound mind but not so much sound body.”

The man has only been charged with larceny from a person, which carries a lesser penalty than bank robbery. His bail was reduced to $2,000 but he’s obviously refusing to pay it so long as he’s being tended to by doctors.

This is a completely rational reaction to what Republicans call “the best healthcare system in the world”.

Our healthcare system is completely insane.

State AGs Rebel Against Obama Admin’s Attempt to Protect the Banks

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It’s interesting, first you have Republican state Attorneys General objecting to principal write downs as a part of any settlement, and now you have Democratic AGs saying that they are not willing to sign off on an agreement that increasingly looks like another sop to the big banks and mortgage servicers:

The proposed global settlement for mortgage servicer fraud and abuse, put forward by a working group representing all 50 state Attorneys General, received some high-profile dissent on Wednesday. Republican AGs in four states – Kenneth Cuccinelli of Virginia, Greg Abbott of Texas, Pam Bondi of Florida and Alan Wilson of South Carolina – objected to the term sheet that contains the proposed deal, which would reinforce that servicers follow the law, change some aspects of mortgage servicing and potentially create a quota of loan modifications and principal reductions which top servicers would have to meet. The settlement, the quartet said, “appears to reach well beyond the scope of our enforcement role, and, in some instances, far exceeds the scope of the misconduct which was the subject of our original investigation.” And they specifically reject principal write-downs as part of any deal, saying that it creates a moral hazard for borrowers who fail to pay their mortgages. Republican AGs in three other states – Oklahoma, Alabama and Nebraska – have raised their objections to the lead AG on the settlement, Tom Miller of Iowa, as well.

But Republican AGs are not the only ones with concerns about the settlement. Democrats in AG offices across the country find themselves uncomfortable with the deal, in particular the speed with which it is being ushered through the system and the lack of clarity over what claims they would have to relinquish under the deal. The opposition from both sides puts into jeopardy a quick resolution to the investigation, which is being pushed hard by the White House, possibly as a means to kickstart the ailing housing market.

You see,the AG taking point on this Democratic Iowa AG Tom Miller, appears to be a stalking horse for the Obama administration, which has bought big, into extend and pretend as a way to save the banks and the housing crisis, and you have Republicans who oppose anything that will help distressed homeowners, and you have Democrats who think that the fact that there has been no formal investigation, no subpoenas, and no specifics on what specific malfeasance that they would give a “get out of jail free” card to the banks.

The thing is, you need more than 35 of the AGs to sign off on this, and you need all of them from the large or hard-hit states (FL, CA, NV, NY, TX, AZ off the top of my head) for you to have a meaningful settlement here.

Yves Smith is right on her assessment of the settlement as it currently stands:

As we indicated, if this deal falls apart, or Obama merely comes up with a Potemkin program that fails to forestall state AG action, the public will be better served. The evidence is that enough judges still care about the rule of law that more and more bank abuses will come to light if the authorities leave matters to the courts.

I’m not worried about a, “Potemkin program that fails to forestall state AG action,” I’m worried about a, “Potemkin program that succeeds in forestalling state AG action,” because the issue is not paperwork problems.

The issue is that there is extensive, pervasive, and systemic fraud, and it is not just against the homeowners, but it is promulgated against the holders of the mortgage backed securities as well, who lose as the servicers rake in big fees during a foreclosure.

Should the Obama administration once again choose Wall Street over Main Street, and use supremacy claims like those favored by the thoroughly corrupt OCC to prevent investigations, we will all be worse off, and not just because Barack Obama and Eric “Place” Hold have made a mockery of the rule of law.

Without a thorough accounting of what has gone on, it will happen again … and again … and again … .

Speaking of Rat F%$#ing

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Brutal!

This ad is positively brutal.

The thing is, assuming that the facts as stated are true, this is not rat f%$#ing.

If David Prosser, who is running for reelection as a Wisconsin state Supreme Court justice, colluded with the diocese when he was a prosecutor to cover up a priest child predator, and to have him shipped out of his district, this is a legitimate issue.

But the fact that it’s an important issue does not preclude it from being rag f%$#ing.  What makes it not rat f%$#ing is the fact that it’s true, the Bishop’s archives confirm this removes this ad from the realm of rat f%$#ing, even if it is nasty.

And Now the New York Times

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Has an editorial condemning the torture of Bradley Manning:

Pfc. Bradley Manning, who has been imprisoned for nine months on charges of handing government files to WikiLeaks, has not even been tried let alone convicted. Yet the military has been treating him abusively, in a way that conjures creepy memories of how the Bush administration used to treat terror suspects. Inexplicably, it appears to have President Obama’s support to do so.

They are wrong, of course about how his torture is inexplicable. The Obama administration has aggressively covered up the wrongdoing of their predecessors, and gone after whistle-blowers with an aggressiveness that makes Bush and His Evil Minions™ look like advocates for open government.

The torture of Manning, as well as the malicious prosecution of whistle-blowers at all levels is clearly a result of a mania in this administration, and considering its aggressiveness, it almost certainly comes straight from the top.

It should be noted though that, true to their mealy mouthed tradition, there no use of the word “Torture” to describe extended solitary confinement, sleep deprivation.

This is rather more significant than the OP/ED in the Baltimore Sun I mentioned yesterday, because, on the villagers inside the Beltway actually read the New York Times, and care what is in those pages.

Something Else Obama Lied About

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I honestly thought that P.J. had committed bureaucratic Seppuku when he gave an honest opinion about the torture detention conditions of alleged Wikileaks source Bradley Manning, so on one level, I am not at all surprised that Barack Obama fired him.

But Will Bunch, who was lied to by Obama during the campaign, Barack said that he would prosecute torturers and other administration and official law breakers, nails the dishonesty and hypocrisy involved:

“I don’t want to have people who just agree with me. I want people who are continually pushing me out of my comfort zone.”
— Barack Obama, June 18, 2008.

Barack Obama lied.

Again.

He lied because somebody — a good man, a decent man, and a respected spokesman for the U.S. State Department — pushed Obama out of his comfort zone this week. And so what happened? — the Obama administration forced him out of his job. Apparently Obama does just want to have people who agree with him. Imagine that.

I’m not surprised, but I am disgusted.

No, 11 Year Old Girls Are Not Asking for It!

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The New York Times times reported on a horrific rape of an 11 year old girl in Texas, and saw fit to blame the victim for the crime.

Some selected quotes:

The video led the police to an abandoned trailer, more evidence and, eventually, to a roundup over the last month of 18 young men and teenage boys on charges of participating in the gang rape of an 11-year-old girl in the abandoned trailer home, the authorities said.

………

The case has rocked this East Texas community to its core and left many residents in the working-class neighborhood where the attack took place with unanswered questions. Among them is, if the allegations are proved, how could their young men have been drawn into such an act?

“It’s just destroyed our community,” said Sheila Harrison, 48, a hospital worker who says she knows several of the defendants. “These boys have to live with this the rest of their lives.”

Drawn into the act?

The alleged Rapists have to live with this for the rest of their life?

But it gets even better:

Residents in the neighborhood where the abandoned trailer stands — known as the Quarters — said the victim had been visiting various friends there for months. They said she dressed older than her age, wearing makeup and fashions more appropriate to a woman in her 20s. She would hang out with teenage boys at a playground, some said.

“Where was her mother? What was her mother thinking?” said Ms. Harrison, one of a handful of neighbors who would speak on the record. “How can you have an 11-year-old child missing down in the Quarters?”

You see, she hung out with the wrong crowd, and she wore slutty clothes, so she deserves to be raped.

By comparison, the Houston Chronicle doesn’t go out of their way to portray an 11 year old girl as something akin to Jezebel.

Why reporter James C. McKinley Jr. and whoever his editor is are still employed at the Times is completely beyond me.

If You Want to Go Postal at Work, Follow the Example of the Indians

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And I mean East Indians, not American Indians.

You see, they don’t go after their cow-orkers, they go after their boss, as in this case where they fired a member of senior management:

Indian police have detained two people after an angry mob of sacked steel workers burned to death a senior executive.

After learning they were laid off, about a dozen workers attacked a 4×4 vehicle carrying Radhey Shyam Roy as he was leaving the factory in eastern Orissa state on Thursday.

They doused it with petrol and set it ablaze, said police Superintendent Ajay Kumar Sarangi.

Needless to say, I do not endors violence against employers, even senior managers, but the fear of such violence does appear to be the only way to restrain their behavior, given that the moneyed class is pretty much above the law in most of the world, including the good old USA.

H/t JR at Stellar Parthenon.

Anonymous Gets Scalp of HBGary Fedral CEO

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Following revelations by Anonymous that HBGary Federal was developing a plan of Nixonian dirty tricks, with false identities, forged documents, and other disinformation, the CEO of HBGary Federal has been fired resigned:

Aaron Barr’s departure as CEO of HBGary Federal represented the latest twist for the company and its Sacramento affiliate, HBGary Inc. A spokeswoman for the Sacramento company confirmed the resignation.

According to numerous reports, Barr’s company, which is based in Colorado and Washington, D.C., proposed conducting a disinformation campaign against critics of the U.S. Chamber of Commerce. The plan was presented to the chamber’s law firm, but the chamber says it wasn’t aware of it.

The plan was aborted after the hacker group Anonymous stole tens of thousands of e-mails from both HBGary and HBGary Federal – and posted many of the messages on the Web.

And now Democratic members of Congress are calling for an investigation of these activities.

Of course, there won’t be an investigation in the House.  The Republicans are busy looking for a blue dress.

Just Who, and What, Is Raymond Davis

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He’s currently being investigated for a double murder in Lahore, Pakistan, and the US government is claiming that he has diplomatic immunity, and so must be released.

There are a number of peculiarities here. As constitutional lawyer
Scott Horton notes, the issuance of a diplomatic passport does not convey diplomatic immunity, the host country formally recognize and accept their diplomatic status.

Also, it’s unclear if he was a diplomatic or a consular officer and if the latter, then the charge, double murder, would certainly not be covered by any immunity.

In fact, immunity might not apply in either case, since the Vienna convention does not apply to serious crimes, like, for example, murder.

Additionally, thanks Dave Lindorff of Eurasia review for this, it appears that Mr. Davis was not a consular or embassy employee, but rather the employee of a defunct security firm, Hyperion Protective Consultants, LLC, which makes his status even more suspicious.

Also, when caught, he had at least two guns in his car, a number of cell phones and batteries, and a telescope.

Linhoff also reports that the two Pakistanis were shot in the back, and that he has received reports that they were not just two guys on a motorbike, but in fact operatives of Pakistan’s security service, the ISI.

Given the circumstances, and the fact that a heavily armed strike team in the SUV rushing from the US consulate to try to snatch him from police immediately following the incident, and running down and killing a person in the process, I would be inclined to believe that whatever he was doing there had nothing to do with diplomacy.

One interesting factoid in all of this is that his arrest has corresponded to an unusual lull in drone strikes, which would be consistent with his having a senior managerial role in those operations:

A mysterious halt to U.S Predator strikes on Pakistan after the Raymond Davis incident in Lahore has led to intense speculation the American “diplomat” was connected to the Drone program even as Washington and Islamabad are going eyeball-to-eyeball over his status.

Davis, 36, was apprehended by Pakistani police after he shot dead two Pakistanis on a busy Lahore thoroughfare on January 27, four days after the last drone U.S Drone strike in Pakistan. There has not been a single strike in the 25 days since then, making it the third-longest period of inactivity since the U.S ramped up the Predator program to take out terrorists infesting Pakistan’s frontier regions, according to Long War Journal (LWJ), a blog that tracks U.S Predator attacks.

Speculation is now rife that Davis was somehow connected to the Predator program since he was reportedly carrying a GPS, telescope, camera and assorted equipment not usually associated with thoroughbred diplomats. Pakistani authorities have also accused him of unauthorized travels to the Frontier region and being in touch with extremist elements in Waziristan, which suggests he might have been coordinating the attacks with U.S moles in the region.

While Davis claimed that he shot the two Pakistanis in self-defense when they were trying to rob him, some reports have said they were ISI tails assigned to follow him because the Pakistani intelligence felt he had crossed certain unspecified “red lines.” Those red lines may have involved discovering the Pakistani establishment’s links with terrorists group, a pursuit which led to the death of Wall Street Journalist Danny Pearl.

I’m thinking that Hyperion Protective Consultants, LLC, is about as real as Brewster-Jennings was for Valerie Plame, and that he works for the CIA, some other TLA (three letter agency), or a contractor hired by some arm of the US government.

It would explain why heads have been exploding at Foggy Bottom (State), and probably Langley (CIA) as well, for the past few weeks.

And Now for Some Non Congressional News…

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George W. bush canceled a speaking engagement in Europe because he feared that he would be arrested for torture:

Former U.S. President George W. Bush has cancelled a visit to Switzerland, where he was to address a Jewish charity gala, due to the risk of legal action against him for alleged torture, rights groups said on Saturday.

Bush was to be the keynote speaker at Keren Hayesod’s annual dinner on Feb. 12 in Geneva. But pressure has been building on the Swiss government to arrest him and open a criminal investigation if he enters the Alpine country.

Criminal complaints against Bush alleging torture have been lodged in Geneva, court officials say.

Human rights groups said they had intended to submit a 2,500-page case against Bush in the Swiss city on Monday for alleged mistreatment of suspected militants at Guantanamo Bay, the U.S. naval base in Cuba where captives from Afghanistan, Iraq and other fronts in the so-called War on Terror were interned.

Well, it’s nice to know that there are still a few nations out there that take crimes against humanity seriously.

Unfortunately, I’m not living in one of those nations.

The Financial Crisis Inquiry Commission (FCIC) Report is Out

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The FCIC ain’t the Pecora Commission, it lacked the authority, budget, and time to do so, so it is at best a half measure, but it is better than I had anticipated.

I am rather surprised that the they did not fall back on the “Hoocoodanode” explanation in the majority report, and actually assigned blame.

They actually assigned blame, with much of that going to Alan “Bubbles” Greenspan and “Helicopter” Ben Bernanke.

The commission also cites compromised federal regulators, particularly the OCC and the OTS, who went out of their way to hamstring state regulators who were far more aware, and more proactive, as well as the SEC’s unwillingness to regulate.

I am unsurprised that they determined that Timothy Geithner’s tenure as President of the New York Fed, “missed signs of trouble at Citigroup and Lehman,” though I am pleased that they stated so explicitly, and it is nice that they called out Larry Summers for his dogged attempts to completely deregulate derivatives.

The ratings agencies get a mention as “cogs in the wheel of financial destruction,” but it seems to soft pedal the degree that these folks were both corrupt, incompetent, and essential to both the financial system and the meltdown.

Some of the insiders have leaked that they think that all the reports ignore the fact that the system failed, and instead focus on fitting the events into the philosophical worldview, and I tend to agree:  This is much less of a description of the forest than it is of the trees.

One big surprise is the fact that the FCIC has referred some of its information to the DoJ because it believes that laws have been violated:

The claim of allegedly widespread securities law violations is among the more explosive findings in a sweeping report released Thursday by the Congressionally-appointed Financial Crisis Inquiry Commission. Those details help explain why the panel opted to refer several financial industry figures to state or federal law enforcement agencies for potential prosecution, as The Huffington Post reported Monday.

I don’t expect any action from Barack Obama or Eric “Place” Holder on this, after all, when it comes to law breaking by powerful elites, they want to “look forward”, rule of law be damned.

As to surprising revelations, the fact that they caught Goldman Sachs in a $2.9 billion lie regarding the Vampire Squid’s claim that they got no money for their own investments from the AIG bailout is surprising.

Not the Goldman lying part, that’s pretty normal, but the fact that they caught Goldman and then released it, is a surprise for me.

On the depressing side, it appears that the FCIC’s pledge to release all the raw documents is not as sweeping as they are claiming:

The FCIC’s commissioners, for their part, believe that they’ve done their best to be transparent. But Phil Angelides, the FCIC’s chairman, told Mother Jones in a Thursday conference call that the commission simply couldn’t release everything. “In the course of doing this kind of inquiry, you look at many documents that are completely irrelevant,” Angelides says. In addition, he says, “there are trade secret laws, other laws, federal law that controls the ability of the commission to release documents… It wouldn’t be responsible to do a document dump of documents that weren’t relevant to the crisis.”

Angelides promised that the “predisposition of the commissioners” would be to have a “fairly short period” before the National Archives and Records Administration releases the FCIC documents that won’t be released immediately. In the conference call, Angelides and fellow commissioner Brooksley Born refused to quantify what percentage of the commission’s documents will be released at what times, but Born claimed that the commissioners “erred on the side of openness.”

Even so, the National Chamber of Commerce is the absurd claim that any release of documents is a job-killing action akin to Wikileaks document dumps:

“The commission’s final report and its pledge to post raw materials — apparently including information obtained from companies as well as other government agencies — is an astounding abuse of process that would effectively create a government-sanctioned Wikileaks,” said Lisa Rickard, president of the U.S. Chamber’s Institute for Legal Reform.

Considering the fact that these documents will reveal things like the big Wall Street firms knowing selling “a sack of s%$#” to investors, I tend to think that a full and complete release is a good thing, because the tighter the regulations, the more confidence that investors have, and so the more willing that they are to invest.

As to the slightly less absurd, there are the two minority reports from the Republicans.

The first, issued by 3 of the 4 Republicans on the committee, seems to primarily blame, “failures, near-failures, and restructurings of 10 firms triggered a global financial panic,” which is kind of silly, because panic is what happens when you realize that your 401K is all smoke and mirrors, because the banksters have been lying to you.

It’s really pretty similar to what the majority report says, only they say that it cannot be regulation, because the crisis was worldwide, ignoring the fact that the US and UK have been leading a regulatory race to the bottom for the past 30 years.

The remaining dissent, by Peter J. Wallison, who is co director of the American Enterprise Institute’s financial markets deregulation project, basically says that it was attempts by the government to make sure that banks did not discriminate against minorities, or, to put it more bluntly, he said, “this is what happens when you lend money to n*****s.”