The Crooks And The Cops Lock Arms: The SEC Plans To Appeal Judge Krakoff's Ruling In The Citigroup Case

Time was, when the crooks, in this case Citigroup (who ripped off everyone in sight, including every taxpayer in the US for generations), got caught and lost their case in court, they appealed their conviction/loss, proclaiming that they were the real victims, etc. etc., and that theft isn't theft because it was done with computers by white people in suits, not black people holding up liquor stores with guns--you know, real criminals, the kind you put in jail, to keep white folk like us safe on the way to the country club...

Them daze iz over, ya'll. Merry Christmas!

OS's readers may remember a couple of earlier posts, here and here, in which he recounts how one federal Judge Rakoff had decided he had had enough, and that he would not rubber-stamp one more sweetheart deal between the SEC Enforcement Division and the banks they were supposed to be, well, enforcing the rules on. His intent, obviously, was for the SEC to go back, and extract real penalties from Citigroup for having blatantly ripped the world off for some 700 million dollars, and come back to him.

To quote John Belushi: 'But NOOOOOOOOOOOOOOoooooo......'


The SE frigging C plan to lock arms with the crooks, and appeal the judge's ruling!!!

They have no intention of (a) ceasing to make sweetheart deals with crooks, and (b) exposing the inner workings of the machine that makes these sweetheart deals by actually litigating them, because that would open them up to adversarial process, which includes (drumroll please) Discovery!

So, instead of spending their energies enforcing the law, they'll spend their energies arguing that they shouldn't have to enforce the law, even though that's what they were instituted to do, and are paid to do, and (by innocent souls like OS) expected to do.

This is Alice Through The Looking Glass, pure and simple.

It is maddening, but no longer surprising to read of it. We're at the point where the cops don't even need to pretend to uphold the law.

By the way, if anyone thinks those MF Global clients, including all those farmers who didn't even know they were MR Global clients, have a prayer of getting their money back, this should disabuse them.

The cops now protect the crooks--it's the Chicago Way--the world of Al Capone, Eric Holder, Tim Geithner...