{"id":188475,"date":"2010-09-19T14:59:00","date_gmt":"2010-09-19T19:59:00","guid":{"rendered":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/09\/19\/jail-please\/"},"modified":"2010-09-19T14:59:00","modified_gmt":"2010-09-19T19:59:00","slug":"jail-please","status":"publish","type":"post","link":"https:\/\/www.panix.com\/~msaroff\/40years\/2010\/09\/19\/jail-please\/","title":{"rendered":"Jail, please"},"content":{"rendered":"<p><img decoding=\"async\" src=\"http:\/\/img690.imageshack.us\/img690\/2647\/12902435302879339819071.jpg\" style=\"margin: 0px 0px 10px 10px; float: right; cursor: pointer;\" width=\"300\" \/>Gee, the SEC has determined that Citicorp CEO Chuck Prince and Chairman of the Board, and Clinton era Secretary of the Treasury, Robert Rubin <a href=\"http:\/\/noir.bloomberg.com\/apps\/news?pid=20601109&amp;sid=aCK.CQ4kpXSU&amp;\">both knew that the numbers that they were feeding investors about their top tranches of mortgage backed securities were crap<\/a>:<\/p>\n<blockquote style=\"color: rgb(0, 0, 153);\"><p>Charles O. \u201cChuck\u201d Prince and Robert Rubin were among Citigroup Inc. officials who knew 2007 losses were mounting on mortgage assets that U.S. regulators have faulted the bank for not disclosing, a court filing shows.<\/p>\n<p>Prince, the bank\u2019s chief executive officer at the time, and Rubin, who was then chairman, knew the highest-rated segments of subprime mortgage-backed securities were the source of about $200 million in new losses in October 2007, the Securities and Exchange Commission said yesterday in a filing at federal court in Washington. In July, the agency accused the bank and two other executives of failing to disclose $40 billion in subprime assets before losses surged. It didn\u2019t target Prince and Rubin. <\/p><\/blockquote>\n<p>Bob Rubin has been <a href=\"http:\/\/lmgtfy.com\/?q=%22gordon+gecko%22\">Gordon Gecko<\/a> for a <span style=\"font-weight: bold;\">very<\/span> long time, and if the Obama administration wants to show some <span style=\"font-weight: bold;\">real<\/span> commitment to financial reform, ramping up criminal investigations of his behavior would be a <span style=\"font-weight: bold;\">very<\/span> good idea.<\/p>\n<p>If you put a former Secretary of the Treasury in jail, it goes a long way toward cleaning up the system.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gee, the SEC has determined that Citicorp CEO Chuck Prince and Chairman of the Board, and Clinton era Secretary of the Treasury, Robert Rubin both knew that the numbers that they were feeding investors about their top tranches of mortgage backed securities were crap: Charles O. \u201cChuck\u201d Prince and Robert Rubin were among Citigroup Inc. &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[970,969,1004,972],"tags":[],"class_list":["post-188475","post","type-post","status-publish","format-standard","hentry","category-corruption","category-evil","category-finance","category-justice"],"_links":{"self":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188475"}],"collection":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/comments?post=188475"}],"version-history":[{"count":0,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/posts\/188475\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/media?parent=188475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/categories?post=188475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.panix.com\/~msaroff\/40years\/wp-json\/wp\/v2\/tags?post=188475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}