The Bush-"Legacy"

"His debt to society finally paid in full, William Lerach, the fiery shareholder litigator who exposed the excesses of Enronhttp://www.pbs.org/wgbh/pages/frontline/shows/regulation/ before running afoul of the law himself, warned of another wave of financial fraud emerging on an unregulated Wall Street.

Lerach, whose name for years sent shudders through many a corporate boardroom before his too aggressive tactics landed him a two-year jail sentence, became a free man this week, eager to again take America Inc to task.

He blasted Wall Street for everything from inflated salaries leading to risky behavior to a lack of responsibility to society, shareholders and even their own companies.

"There will be another financial fraud wave if serious changes aren't made," the 63-year-old disbarred lawyer said. "We keep repeating the same mistakes. There is no real legal or economic accountability of the people on Wall Street."

"We got caught up in a certain dynamic and we couldn't stop," Lerach told Reuters from his La Jolla home on Monday, the day he was officially released from custody."

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We need to put ELIOT SPITZER BACK-ON-THE-JOB!!!!!!!
 
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YEP!! You can tell LIL' DUMBYA'S GONE!!!!!!!!!

:cool:

"Three former employees of CDR Financial Products of Beverly Hills, California, have pleaded guilty to bid-rigging and fraud conspiracies as well as wire fraud in connection with the reinvestment of bond proceeds. They face years in prison and millions of dollars in fines.

It’s about time. For years, the municipal market’s malefactors have operated with no fear, because there were no consequences to bad behavior.

This is just the beginning of the government’s prosecution of those companies and individuals who engaged in what the Justice Department, in November 2006, called “anticompetitive practices” in the municipal market.
 
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