I am sure that many of these Wall Street financial fraudsters were not thinking about spending the rest of thier lives in a 8×8 prison cell for ripping off Main Street to the tune of billions of dollars. I guess going from a penthouse to a concrete house with 25 to life will give you some time to think about things you have done wrong in the past. …
Federal sentencing guidelines also link the length of a prison sentence to the size of the financial loss to the public. Given that so many billions have vaporized in recent months, convictions could easily lead to life sentences, defense lawyers said, and the mere threat of such sentences gives prosecutors enormous leverage in settlement talks.
“There are executives now getting sentences longer than murderers and rapists,” said Mr. Petrocelli, the lawyer, referring to white-collar prosecutions in recent years, including that of Mr. Skilling of Enron, who is now serving a 24-year sentence for securities fraud and other crimes.
Why has there not been a batch of subpoenas at the federal level already? The Department of Justice is settling in and is missing important staff members, says Reid H. Weingarten, a defense lawyer and former trial lawyer for the Justice Department. In addition, former members of the Justice Department say that prosecutors and regulators are reluctant to act while the markets are in such disarray for fear of further unnerving investors and the public.
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Well,Why, is obvious, the government is in on the fix, have you not figured this out YET! timcotten@mris.com