The arrogant embezzlers of Wall Street

Many corporate executives openly and arrogantly steal from the public companies they work for. Since the company belongs to the stockholders, they steal from the stockholders. They betray the stockholders’ trust. Take a look at this chief executive compensation data, please.

Paying themselves such wildly unearned bonuses constitutes simple embezzlement. Of course, the board of directors must approve these bonuses, most of which have increased during this spiraling downturn (let us call it what it is, this depression.) But the directors are part of this conspiracy.

An engaging question: Is such conduct criminal?

Let me make the argument with a simple analogy: John Manager runs a local grocery story for its owners, the many heirs of Henry Owner, deceased. All of the money earned from the business belongs to the estate, and none, of course, belongs to John or the trustees.

A fair and reasonable wage for John, according to his skill and experience is $100. But John has a special relationship with the trustees. First, they were selected by John. Next, they have a tacit understanding: John gets $1000 for his work instead of $100. But the trustees John selected get benefits that include tickets to the Superbowl, recommendations to join John’s clubs, his political support when one of the trustees wants to get on the city council, trips with John to Hawaii during the deadly winter, and John buys groceries from the trustees who are his wholesalers. John is also on the board of the wholesalers who happen to overpay themselves. The heirs are so many and so scattered that they take what they get and are happy to get any benefit at all.

John has, in fact, stolen $900 from the heirs since the reasonable value of his service is $100 while he has paid himself, with the trustees’ consent, $1000. Nifty little scheme. Remember, the monies have been paid by the trustees with the full knowledge of the above facts. The conspiracy is to aid John in stealing $900 from the estate. A dedicated prosecutor could make a criminal case stand up against both John and the trustees.

But no one will prosecute because John and the trustees and the prosecutor and the prosecutor’s political bosses and all of their mutual friends are members of the same country club, all give to the local symphony and all go to the same church and pray together every Sunday and, of course, buy a gross of Girl Scout Cookies.

If Billy Joe, half doped up and in need of another fix, comes stumbling into the store and, at gun point, robs it of $20 he will be immediately prosecuted and sent to the pen for twenty years. He is a danger to society, is he not?

I rest my case.

If a corporate executive will steal from the corporation it runs will it not also steal from the American public that constitutes its customers and clients? And can we really trust its products or services?


49 responses to “The arrogant embezzlers of Wall Street

  1. If you question, the CEO, he will incurr attorney fees, and bill you(the Corp) $ 27 million, or very large amounts.
    That is another angle, the crooked mismanger gets the corporation to pay the tab on all legal defenses.
    For example, Joe Nachhio(ex CEO of Qwest raided the Corporation of vast millions) ruining the pensions of many 1,000’s of workers, and his legal tab , $ 27 million picked up by the Corporation, approved by the board, who contributed to the mismanagement.
    I agree totally with your position. Except who controls the levers of the criminal justice system… the political DOJ.
    Thus, you, me or other shareholders can not sue the crooks criminally.
    However, civil suits are warranted.
    At least, the DOJ sued Nachhio , for stock fraud violations, in a criminal suit, and he faces many civil suits, also
    He still has not gone to jail, and is fighting his convictions.
    there is a reverse incentive where these rogues have no duty to the workers, the Corporation, the stockholders, their only incentive(agenda) is too rip off the Corporation, and leave it high and dry.
    How did we get into that fix, to allow that ?
    No wonder there is a depression caused by crooked CEO’s and their ilk.
    That is the biz model used by banks.
    American biz managers have caused the depression, they have no loyality to America its workers. They are traitors—they deserve to be in jail, and kept away from any entity that has a Corporation logo on it.
    Why these crooks were allowed to even get inside the Corporate buildings is
    a question many in Congress should be asking.

  2. Lynn Cheney was on the Board of Directors of Lockheed, the giant DOD contracts, who every year gets vast billions of taxpayer monies. It never had a liquidity problem. Dick rubber stamped a direct deposit out of the U S Treasury. Ms. Cheney is quite the political rocket engineer in the beltway, the reason she sat on corporate boards.

  3. Hi Gerry, in answer to your first question, “is such conduct criminal?” my answer is a resounding yes. Embezzlement is still a felony offense, although corporate raiders are the last to be honest about it. Why would they be, they want to avoid prosecution, not seek it.

    Not only would they deny their obvious guilt in committing such criminal wrongdoing, but they would also lash out with vicious lies and false accusations against anyone who dares to publicly criticize or disagree with their criminal practices. After all, they “reason,” these critics are inherently dangerous to their relentless pursuit of money; OTHER people’s money, and they don’t want to see that money train grinding to a screeching halt. So they have to silence their critics any way they can, no matter how far into the gutter they have to slither. Then they deny doing any such thing! Right, like I’m going to buy that ridiculous story.

    So do I as a consumer trust their products or services? No indeed, especially when they come in the form of traps that will keep us in financial slavery for life. I’ve heard the wolf say “trust me” too many times to fall for that old con job again.

  4. The sacraficial criminal to turn the peoples eyes from the true crime

  5. Gerry:
    Stealing billions on “trouble assets”, linked to bail out booty is a sport, big billions, and it don’t take a gun, and dope.(more like Italian hand made shoes, $ 4,000 Saville row suits, and the right Clubs, indeed.
    Making things “trouble assets” is the new game in the beltway.
    I hope you mailed in your donation for April 15th, now, Gerry. Give my best to Argus, the poor fellow never got a bailout, never caused any “troubled assets”, and he is just popping corn kernels.
    How come you never sued the king of thieves,
    I agree with what you say, you are preaching to the Choir, Amen, but it looks like a program is in place to just direct deposit billions in the accounts of the biggest criminals, and they get to go to the fund raisers for Barney Frank, and Club, and make speeches on charity(drip down pennies) for the less well endowed.

  6. Dear Gerry: I’m worried about myself because I’m actually missing Argus. Is he okay? Did he get lost on the road back to sanity. Or did he forget my advice about that tricky right turn at the bakery? Has Argus changed his name to Conformus? (God forbid). What’s going on?

  7. The government is no different. Marion Blakey, former Administrator of the FAA took a job with AIA “earning” at least $600,000 per year 6 months after she awarded them a Billion dollar contract! There are laws against this, but nobody in Congress will take action because most of them do the same thing.

  8. Guilty? Yes. But now on to the second trial. There were people who made the rules and when they made the rules they agreed with these executives to get involved in the ponzi scheme called corporations. All the other players at the table have to abide by fair rules. But we will let you, the corporations have another set of rules. We will make this all legal if you appoint our wives (for example Mrs.Cheney and Mrs. Clinton) to your boards and then before and after our time as rule makers (politicians) you give us enormous paybacks, but we will call it speaking engagements. Now our job as rule makers is to be the “story tellers”. We will create the myths that will create the illusion that the game is fair. We can even do it with mathematics if we need to. There will be two kinds of rule makers -Democrats and Republicans. Our myths may be a little different at times, but don’t worry corporations, at the heart of the myth it will be the same. You, the corporations, may have to have some of your representatives close by in our lobbies, so that we get our stories straight. So let’s play the game. Oh, one more thing. Let’s get the media, you know the so-called reporters that are supposed to keep the other game players informed, on our side by only letting those into the big story room when they play by our game. Once in a while we will have to have a “dissenter” in the crowd. Maybe we can even give that dissenter special opportunities to ask questions to look like there is no way we could get away with not speaking the truth.

    But will this second trial against the rule makers ever take place?

  9. Hi Gerry, all these crooks will eventually pay a price. The Natural Law of Cause and Effect can never be violated..sometimes it’s just slow to show up.

  10. For decades prosecutors have only gone after the easiest target of criminials–drug users/pushers and the poor. It is much tougher to take on a Spence, Geragos, Black or you name the good white collar defense lawyers in the country.

    When the government (IRS) went after the criminal defense lawyers for not reporting cash fees over $10,000.oo, many left criminal defense for another type of practice. When the courts destroyed the Bill of Rights and the rights of the accused, many good lawyers left for another type of practice[me included].

    Why would the AGs or DOJs prosecutors take on a lawyer of their equal or better. A prosecutor cannot lose a case, can he/she?? Lets just keep sending the poor and the down trodden into our over filled prisons. And where are we–how does one stay open ? When the down trodden cannot pay, the juries despise and want to send them home[even though it is here in their own county] or somewhere they cannot be seen nor heard and we cannot win on that contingency fee. Where do we go to survive???

    Maybe just Maybe the feds and the states should create private attorney general statutes to go after corporate conspirators company after company, state by state. Now wouldn’t that wake up America!!!

  11. Why is all this talk about MONEY. We are broken and controlled by this money. I have a part of life that means more than money. It is breathing. A few more last days is worth all I have, in that I am afraid of death. A pile of dollars will not buy love. A sack of gold will not buy peace in the mind.
    But after saying all of that I could have been one who took the money — who would really turn it down?

  12. Well, well, the defense of the indefensible.
    Senator Steven’s had a $ 3 million buck defense(13 lawyers from the big D C firm, and it paid off big time, jury verdict nullification.
    Now, he–Ted with the fancy Ski chalet, at the resort—floated in the Appropriaton Committee(Senate), once its powerful Chairman, dolling out big billions, trillions over all—to corporations, like Lockheed that had on its board Lynn Cheney.
    So, who presented any bill to Ted Stevens, for his big buck defense from the powerful connected D C beltway firm ?
    He set up a Defense Fund, to be filled, and it is secret, and no names are released
    Just as the press has not provided copies of the supposed DOJ notes(April 2008) that provided the supposed basis to nulliffy a jury verdict(jury of citizens).
    It points up a double standard, rarely is a big fat corporate kat indicted by the DOJ, yet most here have the view that Spence has; on how our Nation is being raped, and seems little effective is done to combat it.
    Any know some unfortunate person indicted, (for some 2-bit stuff), and they were lucky if they got a defense of any diligence, except those lucky enough to have one: Gerry Spence.
    Eric Holder lets Ted the freind of many filty rich corporations off the hook, as Ted was the funder of the DOJ, who naield to the cross so many Sammy
    ordinay citizens.(some who were not even doped up)
    What a double standard, it is so glaring.

    • Please, Rosita. Please be informed as much as possible before you trash our rights to a fair trial. The judge in the Stevens trial, a courageous jurist, has ordered an investigation into the failure of the prosecution to comply with his orders as well as the law requiring disclosure of evidence that may show the defendant’s innocence. This is called a “Brady violation.” That right is crucial for the rich and the poor, the guilty and the innocent who are charged with crimes. The Department of Justice has thousands of lawyers. And the FBI. The government was not out-lawyered. I took the time to read the transcript of the hearing leading up to the appointment of a special counsel to investigate the government lawyers in this case. It is a public document. I recommend that you do the same. I am not a fan of Senator Stevens, nor of corporate money and power. But I am of the Constitution.



  13. Thank you Gerry, for your suggestion, but i believe the USA constitution is not just for the powerful, but for others, as well. Have you read the notes from the lawyers(DOJ), supposedly taken on April 15, 2008, that supposedly constituted the Brady violations, before you jumped to your conclusions. I never trashed the constituion,
    that is merely your self serving conclusion, speech.
    Maybe you can call for those notes to be posted on your web side for all to see, so we can draw our own conclusion(s), not just be buffaloed by Eric Holder, AG, who did an executive set aside of a jury conviction(the jury did not get to see the cross examination, and the full examinations in the sunshine, so you are not the jury, I thought you supposedly respect juries).
    I will look forward for you calling for all too see in the plain broad daylight those notes to be posted on your web site, since you such an in the sunshine kind of guy so intent on a constitution for other than the powerful. When can we expect that, soon I hope ?
    Of course, you must know, the red hot subject–now in the dark notes(spun in pressland)– which were from the April 15, 2008 interview of Bill Allen, are incogntio now—in the press. You seem in the dark on that. Perhaps, Alaska’s biggest criminal, who left a long trail of corruption, a convict waiting to do some heavy jail time, is a subject waiting for all to see fully(notes in their all) what he said–by all.
    I eagerly await you posting that up(those actual notes), since you profess such a keen interest in the constitution, i assure you that you have no monopoly in that area. Please allow a reply to your quick draw on claims about trashing the constitution, surely you have that sense of fairness, all be it Gerry blogland not a high court. The notes of Ted Stevens are all over the blog, in his hand writing, so do you not belive in the goose gander rule of sunshine, too ? Or, are you trashing that. We will see, indeed.

  14. Don’t DOJ prosecutors usually have immunity, although the same section in DOJ Main, Pub Intg, that indicted Stevens, indicted an assistant U S attorney in Detroit, for allegedly witholding evidence in vilolaton of the Brady rule, and the indictment was a criminal indictment, going for jail time of the DOJ attorney, who had tried some alleged terrorist.
    The jury quickly acquitted the DOJ attorney in Detroit. Yes, Ted Stevens has the same rights, as any alleged terrorists, even Argus can see that.

  15. Rosita, I’m just curious; are you saying that because a person may be rich, that person doesn’t have the same right to a fair trial, or doesn’t have the right to have a good attorney who is both able and willing to fight hard for his or her client? If I am interpreting your reply incorrectly, my sincerest apologies.

    But even if a person is fortunate enough to have a good attorney, that is still no guarantee that person will not be wrongly convicted at trial. Especially if the state’s attorney or other official deliberately withholds evidence from the defense or uses highly improper or worse, unethical methods to ensure a conviction.

  16. Rosita here is the whole decision of the judge.



  17. Dear Susan, and Gerry:

    To Susan first;
    I never said a rich person is not entitled to a fair trial, or 2 attorneys or 150 attorneys, nor did I trash the constitution.
    Obviously, a rich guy who inherited billions can kill his wife and get away with it, but I won’t go into the gory details. As to a powerful Senator, who was on the Appropriation Committee, El Chiefe Chairman, the big cheese, who set up trillions in slush funds for the largest corporations in America, i. e appropriations(over the years), why even he can set up a secret Defense Fund(seemingly), and have some of those corporations(or cut outs) slide money into such secret fund, and get 13 killer high gun, red meat go to the mat attorneys from the most powerful and connected D C Frim(Wil-Con), and you won’t blink an eye Susan, or find out all the fat kats kicking in bread to fund FUND TED, big mula.
    As to lowly federal career DOJ attys, I hope you were not implying, Susan that there is an exception to ’em in that constitution you so profess to cherish–from the day you took your bar oath.
    Judge Sullivan is so up on his high horse, can he be fair , and impartial on that NJ attorney he put on some gravy train, called some Special–court- prosecutor, which is really wading into unchartered waters, perhaps.
    Was Ms Brenda Morris(who first got the Ted S conviction) set up by rouge Bushy tricks(trickesters), some spring Ted games, well the matter is unwritten in this saga–still to play out.
    But thanks for picking up Gerry’s mantra that one trashes the constitution, if one is not a mouth piece for Ted, and his big D. C corporate law firm.(that sprung Ollie North, of Iran Contra, operations in saying to hell with the Boland Amendment.

    To Gerry,
    Thanks for the reference Gerry, but it don’t pop up, not hyper-tabbed to pop-up, just so you know for your Web Admin.
    No problem I can navigate PACER etc.
    Yet, still that matter I noted on the March 15, 2008 DOJ attorney notes, that got some jerked up, jacked up…madder than all get out…
    Where are there–in the broad day light of sunshine for all to see ?
    Maybe you and Susan can demand from Eric Holder(Mr political AG DOJ), is he eager to give out, after the stunts he pulled on the Marc Rich fiasco.
    I too respect Mr Spence, and his view on the scared nature of the constituion, I just don’t agree that because he says others trash the constiution, he is the final high priest to make it so–as a legal conclusion, or a fact.
    I am well aware that Judge E. Sullivan has gone ballastic, and he warned DOJ attorneys to turn over stuff, and that did not happen. (the Subject DOJ ESQ Notes did not hit the radar until Feb 15, 2009, long after the trial was over.)
    I am not condoning any Gov officals breaking any laws, codes, Constitution etc, I am seeking to get Gerry to put up the key document, the April 15, 2008DOJ attorney notes up here(the G S WWW site–the full notes, so far that is not happening.
    As to the Detroit prosecutor found not guilty by a jury, DOJ Main wanted to nail his hide to the wall, put him in jail for a long stretch.
    The jury said: NO.
    Ms Brenda Morris and other DOJ attorneys have not been indicted, in any criminal indictment.
    Judge Sullivan has no power to do that. Have you heard of the separation of powers in that scared constitution you so cherish, Susan ?
    There are many legal issues, and it is not like, judge Gerry and Susan have issue some Supreme decree(from the higest blog court in the land).

    Say, do any who frequent here know of any DOJ attorneys who have done jail time—other than John Mitchell (the Nixon AG) of Watergate fame–for seeking to carry out their jobs.. ?
    Maybe you, Susan can fill us in on that, since you profess to be so keen on the constitution of the United States of America.
    Again, Mr Spence, thank you for providing me the opportunity to put in my 2 cents on your splendid blog, and give my regards to Mr Argus T, and I hope he has a great Easter.
    There is some Ex U S Attorney in Alaska, Wev, who has a WWW site, who has already convicted Brenda Morris, he is a buddy of Stevens, he has tried here on his WWW site, convicted her, and sent her to his cyber jail. But, he claims he took some oath to defend the constitution, it is unclear if that was the U S Constitution, however.
    Some rich guy(who carried the Trojan pigskin) who killed his wife, get off on the criminal indictments( L A free style justice), only to face a wrongful death suit, but i won’t belabor that, since there were so many final words on that, already.

  18. Susan, or any who care to have at it, Argus, et al:
    Any who have observed courts over the years, have seen judge(s) who some time go off the edges, deep end, and rule in error, sometime judges act tryannical(why there are appeal courts to judge the lower court judges).
    Now, it is unclear still if the judge’s T. S order on turning over attorney notes is legally correct.(the Teddy crapola House/ Gift matter)
    But, Eric Holder(of Marc Rich infamy, a very political kat) has put career attorneys, public servants(career DOJ people) in jeporday to destroy their careers, flat out ruin them their families, a flat out destruction derby. Some as we have seen are cheering, & applaud that.
    Doing high 5’s, going be-zerko- wits on the blag lanes, like the lynch mob is forming. Eric has set in motion a can of worms, a
    hot button issue, indeed, a pandora’s box is upon us.
    For Eric he is in glow of the P R, it lite up his political P R meter, as he milks it, like a pro–political animal.
    However, lets assume for the sake of argument ( that old arugendo) there is some judge who is a really bad judge(Call him the awful bad person in black robes–who only got to the bench due to some political game thing):
    She – or he–orders the attorneys for party A to turn over attorney notes, the attorney refuses, she(mad with power H—etta holds the attorney in contempt, appoints some GUY—a hot shot in political circles –as some Special AG, who then finds that the attorney for party A is killing, trashing is the words he uses, that conclusion in his decree(findings), with outrage his face beet red, and steam coming off his head, the constitution, just rippd, trashed soiled he goes on , page after page in his decree, stamped by the bad ass judge, as well, and Esq for party A should be put in jail for a year, and fined $ 2 million, he goes on in outrage, uses wordes like contempt, he is almost foaming at the mouth, spit oozes from is mouth, he is almsot dribbling spit, his speech is hard edged.

    And, yet it all sprung from an unlawful, order of the bad judge to begin with, as she( H–etta with black robes, with red fring on the edges, and gold eagle logos at the collar) set this in motion.

    Please Susan, Argus, all you great defenders of the constitution, what should be done, what is needed to deal with matters, if you will; thank you.

    In setting for the above, i am not for trashing any constitution, however, just who is trashing the constitution, remains to be seen.
    And, it comes out, the attorney notes did not take down the all of what Mr x said, in full(the INTERVIEW), Atty A was on some red eye special, all night, fell asleeep, during part of the interview, and he missed a lot of what Mr X said, and he never took notes (in limited part) thinking one day, attorney notes would be
    considered some SMOKING GUN, the final word.
    Plus, attorney A was never a witness to the events that are the subject of any court proceedings.

    So, all you grand defenders of the constitution, what say you ?

    Thank you all, and may your families have a great easter egg hunt in the yards.
    I would even venture to opine that Gerry over the years has seen a judge or two(etc) that is really into power trips, and makes errors, and professes outrage at counsel(s), words of disgust, scorn,
    looks down from the high bench, his face twisted in contortions, his body langauge has the look of
    some alien entity, it is frightening, scary to say the least.
    Have you been there–any–weigh in, I don’t think Gerry is taking down bar #’s, and making a red list, or black list on
    ATTY trashers, soiled fallen esquires, so i venture forth seeking perspective like Argus, looking for the holy grail bible, verse, and chapter DA CODE: on NOTES/ the interveiw THING PROBLEM

  19. Well, Rosita, all I can say in response is that I believe all people are entitled by law to a fair and impartial trial when charged with a criminal offense. It doesn’t matter whether I personally like them or not, and one doesn’t have to be a lawyer or law student to hold that view.

  20. Most attorneys take notes, you know those yellow legal pads. Now, what, in view of the Sullivan rule, U S D C, Washington D C
    If any D A, or prosecutor, or DOJ assistant takes notes, does she/ he become a witness in the mstter, thus must recuse from prosecuting the case, what ?
    Wait, all those crooked corporations , who have ripped off America, will any D. A who had a legal yellow pad now be afraid to prosecute an AIG of the world due to the Sullivan rule ?
    Sounds like trouble, to give more free passes to shady corporations, and their executives.
    The Sullivan rule ought to be put up by Gerry, I may stop carrying around yellow legal pads.

  21. It is not ethical for an attorney to abet or assist others to carry out frauds,
    well established in ethical codes in every state.
    So, given there are all these on staff corporate attorneys, and the outside counsel attorneys for large corporations, and notes, all those notes on yellow paper, white notes, computer disks, then
    is this new ground to plow in discovery: notes, those attorney notes.
    See, the subheading: embezzlers of Wall Street—with their minons of WS attorneys.
    Of course, large motions for protective orders, and claims of attorney client privelege are advanced to protect corporate attorney notes.
    And, here is a DOJ petition that submits the pretial ESQ notes are not covered by the Brady rule, and should not be released.

    However, the issue is complex. However, the way it evolved in the Stevens matter, Eric Holder(AG, who dances around in strange ways) just offered up careeer DOJ attorneys to be in the bite of the Lion, a very miffed off judge, a large corporate defense frim, out for blood, and a powerful Senator(ex), who carries a big stick, still in various D C Chambers, with other many very powerful buddies.
    Hopefully, the DOJ attorneys, now in the target zones, have very good attorneys, who are stand up, but then will they raise millions for good representation, or will they get some guy( paper shuffler, if that, out to please AG Eric Holder, and his agenda, seemingly that to hang out to dry career DOJ attorneys who go up against the very powerful.
    The FBI guy in Alaska, who flipped to the side of Stevens, is not an attorney.
    He seemed to have some proclivity to set up his TEAM, the team that prosecuted Ted Stevens.
    Now, the question is fairness, and the full truth
    for the Stevens 6, DOJ attorneys, who are in a world of trouble.
    I do have not enough info to draw any conclusions, merely submit the issues are thorny.
    And, of course, are they presumed innocent, or guilty, as a matter of course under assorted banners ?

  22. Some of you may find the following letter, which I obtained in a google search of the Steven’s case, most illuminating. It is a letter to the ex Attorney General, excoriating DOJ attys.
    Simply, it speaks for itself, it is worth the read, if you desire to see the nitty gritty, in matters:

  23. Here is a better , fuller copy of the Brendan Sullivan letter to the DOJ, Stevens case, suggest you use that instead, sorry about the other one, not the full one, so illuminating.

  24. Some may not know this but the guy who managed, or was involved in the building of Stevens’ house, Bill Allen, made a bloody bundle off of the Exxon Valdez oil spill.
    He sold his company for near $ 400 million, after his federal plea deal for bribing an Alaskan Legislator. Allen is awaiting some jail sentence, as he got a deferred sentencing deal, depending on how he did in the Stevens case.
    And, it was not very stellar, as he got mud over the entire DOJ Team,
    as we have been reading, with the blowup on the tossing of Stevens jury convictions.
    That VECO sale deal to a nuclear clean up company has money held in reserve, for over $ 70 million, most curiously noted in the Sullivan letter.
    So, when Allen was possibly cooking up stories, on Stevens’ house job he seemed to catch some DOJ attorneys in some real compromised positions.(and FBI troubles as well in that matter)
    Here is more on VECO:

    Stevens beat the rap, however, this situation is a lot more complex, than the DOJ P R releases.
    The Bush Admin was running the DOJ, when the Allen stories were cooked up.

    The company that bought
    VECO has received vast billions in federal contracts, well over $ 25 billion.

  25. So, here is the complaint filed agaisnt Ted Stevens:

    That is gratis of googles, the world’s sunshine in the Gerry open Universe of Juris Affairs
    It alleges that Senator Ted got gifts of $ 250,000.
    Well, it seems that the DOJ assignment of values on Girdwood houses was not too swift. Thus, its case eventually went up in flames. I. E conviction tossed, after a jury trial(AND CONVICTION).
    i just thought it would be instructive to put up the DOJ complaint, and how it was not proved, as seeminly admitted by AG Holder, and his top Officials in DOJ criminal Div.
    It is nice to see however, all the help Ted gives to some on high end stuff, see the rest of the complaint, if it can be believed.
    Ever try going to your Senator and asking him for a bit of cash in the form of a $ 2 billion bail out, he would not give you the time of day, and may turn you in as some
    Knat, nag, annoyance, no-count.
    Why the DOJ had such trouble nailing down the financial value of some house additions in Girdwood, makes me wonder, if this was some D C Special, to garnish the ever increasing flow of PAC money for that PARTY Cartel, and grab headlines like it cares about corruption.
    Public service is a public “trust” says the DOJ. Is it a blind trust ?
    how can you—as a citizen–trust the DOJ, when it plays so many games ?
    Don’t forget, every one of those high DOJ officials, who secured his appointment came out of some party apraratus.
    You sure don’t see Argus being appointed as Deputy Attorney General, now do you.

  26. Here is a 4 a. m. wake up call in the Ted Stevens matter( D. C v. You as an American taxpayer:
    “But that won’t happen–a (honest DOJ trial of a powerful Senator). See in the end, these folks(DOJ in DC included) on Capital Hill protect each other. Because they are members of the same fraternity. Republicans and Democrats alike.

  27. Susan:
    Most are for a fair trial.
    I mean we all like apple pie, and the waving flag, and fire-cracker works on the 4th, and dogs, of all breeds.
    Could you explain something to me, however:
    Ted Stevens was convicted on 7 counts of getting gifts and not reporting, as to violate laws of the USA, his far reaching deceptions( the law covers U S Senators–the law in question).
    So, there was some attorney(DOJ) alleged notes on some point on the house additions(value–).
    So, why did Eric Holder throw out a jury conviction on the other 6 counts that had nothing to do with that. For example, the Viking Grill.(Gift not reported.. was high end)
    Convict—high powered criminal Bill Allen is not a pricing expert on Viking Grills, that was not in the scope of the other.(house matters)
    So my concern, is Eric Holder(AG political appointee), is he someone who has total disrespect for the juror’s who convicted Ted Stevens on all the other counts ?
    If you can explain any, I thank you.
    The jurors were not lawyers either, isn’t the real question, Eric Holders profound disrespct of jury verdicts in cases were a real powerful person, a very political individual ?
    I have no dog in the fight, I never voter for Stevens( if my memory serves me right, but he was in there for so long, it is hard to say way back)

  28. Susan:
    Brady Act violations involve gun registration issues, that Brady Act is a statute.( We all need to have 2nd amendment rights, given how things are eroding around America).
    As to the Brady rule, derived from a case, in a criminal matter, it was never fully determined whether the notes(of a DOJ Atty( ???) on hard core criminal Bill Allen(Ted Stevens ex good buddy) were exculpatory towards Steven’s on all matters(all counts in the indictment, for which Steven’s was convicted by a jury).
    Are you willing to take the word of a hard core criminal, as spun in the press, 2nd hand, no questions asked, at one point, as he may cook up some other story down the road, and flip flop again the next day, in some story cooking things… the ex house mate at Ted’s place at the Ak Ski resort, AKA Girdwood .
    This professional courtesy of AG Eric Holder( the Dark Beracuda) to a powerful Senator in some D C culture only shows the double standard in the legal system.
    If the defendant had been the son of Sam, Holder would not be playing politics with this matter.
    Stevens’s son Ben, will he now get a free pass, while others in Alaska were indicted.(bribery) !
    Must be nice to have some passes , similar to the royaly perogative of the Political Upper Crust class, and have so many just touting it as a “fair trial” matter, ignoring so much more.

  29. Since we are getting into honest services, Ted Stevens, and bribes, and now the blow-back as to DOJ (career) attorneys, who indict the powerful:
    Nicholas Marsh is the one DOJ attorney who is most under fire.
    He won a signifisant case in the 9th Circuit, which outlines mail fraud, and “honest service”.
    The defense attorneys sought to exclude evidence.
    Mr Marsh/ DOJ won and the ruling on appeal is most interesting:

    While this may not please all the criminal defense white collar bar, here, surely Susan and Gerry will afford Mr Marsh that presumption of innocence, which they allude to, so often in other contexts, in their cherished comments on the constitution.
    Oh, by the way, lawyers are even indicted under that “honest service” rubric, it is not just Alasksan legislators—on the take.

  30. So, an engaging question, says Gerry about criminal violations on those Wall Street Shell games.
    The only problem to rectify some Fed Prosecutor would have to indict and convict in a criminal proceeding, and Gerry and the white collar bar, would be out to nail any prosecutor that would dare go after the monstor red sharks. What a vicious circle.
    At least, some times civil suits are brought against the red sharks, and their pools. Isn’t Bernie Madoff, one of those red-stripped, different looking kats, that never conformed, to anything that looked like a law.
    Some whip(the big whip master of Ponzi’s) he was using to financially murder 1,000’s of people, flat out ruin ’em.

  31. I saw an interview on CSPAN recently with the author of “House of Cards” whose name is Cohan. Writing about the fall of Bear Stearns, he said that the basic problem was that these guys on Wall Street were not personally liable or responsible for their decisions, and that they were in fact trying to raise debt capital by “spreading the risk” of credit default. They thought that if they spread the risk by selling these credit default swaps world wide, that the availability of additional debt capital was limitless. No restraint necessary and you’re working with other peoples’ money. With the culture of bonuses built into the system, the daily grind was to get these private mortgage backed securities on to the market with a high rating and sold. The seller would be entitled to a commision with bonuses being paid at the end of the year. Limitless, unrestrained, spreading of risk, even to the multibillion population of China and its government.
    The only thing that they did not anticipate is the unscrupulous negotiation of mortgage lending to folks who had no possibility of repaying and it all happening at once. No “principle of large groups” working here. Cohan said that the answer is to forbid these investment bankers from going public so that the partnerships “Merrill-Lynch”, “Goldman-Sachs” , “Lehman Brothers” “Bear-Stearns” etc.,would be putting their own capital behind the deal and the deals wouldn’t be in megasized proportions.
    Frankly, I admire those people who can raise capital for the purpose if engaging in private business. It’s when the need to make the margin every day takes over that the system becomes corrupt. The rating agencies should not be paid by the sellers but should be paid by the buyers who are relying on the ratings. This whole thing should result in a more restrained financial system and a better private financial system– if we can all live through it. Of course, those guys who got bonuses by doing what they were commanded to do by their bosses, need to understand that the rest of us are the ones who are suffering. A significant tax bill to help pay for what we’ve had to do would be helpful.

  32. The goons on Wall Street can’t commit their crimes with out their enablers in the gov’t, like all their bought and paid for shills in Congress and in the White House.

    Paulson, Geithner and Bernake ought to be the first facing grand juries, but their bosses Bush and Obama should not be far behind.

    Don’t you just love the smell of corporate fascism in the morning????

  33. Gerry’s web is like some Open World University(OWU), where he invokes people to think, to contemplate, to reflect, he may have the best Blog on the WWW, he fufills the visions of those who came up with the i-net, where many perspectives(views etc) can examine a problem.
    Again, Gerry, is the true visionary on matters, justice, injustice, and matters inbetween (the ying, and the yang).
    No wonder some professors(at assorted regular U’s), are worried that new ways of learning, and seeing, and examining are abounding, in many new ways.

  34. Ted Stevens was indicted in July of 2008.( a 7 count felon criminal count indictment)
    In August of 2008, a Mortgage broker in Alaska perdicted that Ted Stevens was innocent, and that the DOJ Public Integerity Section(DOJ MAIN D C) would be made the “laughing stock” of the world(which Mr Crawofd pinned on a blawg, as well). It seems the issue is: can the people in the DOJ count.
    Did the DOJ people never take basic math.
    I am putting up what Mr Crawford wrote in the Ak papers back in 2008—long before the Stevens convictions(of late 2008) were tossed in April of 2009
    It is very telling on how the facts matter, and people better learn to count before they go up against a heavy duty criminal defense firm.

    Here is what Mr Crawford saw, missed by the entire DOJ:

    It goes without saying people are entitled to a fair trial, but as a taxpayer, you have to count what you owe( the TAX MAN), why did the DOJ never count on the situation, before they indicted a U S Senator, seems very odd, to say the least.

  35. Gerry, I agree with your words and there is no doubt that you’re quite the activist. For those who want to do more, here are two places to go that are also trying to something about it:

    Thanks for all you do, Gerry.


  36. But, no one will prosecute( G S conclusion), is the bottom line, in the situation laid out by Gerry(that is high flyers in the corporate suites, and club, and linked with facilators perhaps in GOV, too)–string pullers.

    And, most likely the DOJ offices(OR D. A . PLACE) charged with protecting the public, or the SEC offices, will have a high turnover of attorneys, going to work(out the revolving doors) for the very outfits(or similar) that are set forth by Gerry( the RIP OFF CLASS).
    And, the remaining ones, are wasting time on some 2-bit A Frame in the Ak bush to go after some old 85 yr old grumpy Senator, who botched his forms , but did nothing criminally wrong, and they spent millions seeking to nail him(or similar)–while turning a blind eye to major stuff, that hurts America and its citizens.
    Is it really some “public trust”, or is it big sell outs going on in official places daily, in the high tiers of the DOJ ?
    So many presumed Ted Stevens the old grump guilty—but now is it that the DOJ was playing some real stinkin games.
    We will see…

  37. Gerry points to an example of s doped up guy with a gun, robbing a store of $ 20, as a danger to society,
    but how many politicans condider Gerry, and some who have expressed views here on crooked corporations, and crooked executives as public enemy number one, and a danger.
    Senstor Grassley’s Committee targeted Spence’s trial college, do any hear know what it is like to be targeted by corrupt government officials, who speak out on a crooked corporation. ?
    The biz of Gov is biz, we have been told from on high. Just who is a menace to society is in the eye of the Gov on high, and it is often those who report crooked corporations.

  38. I was just curious, in the example given by Gerry, on the greedy, arrogant, theives, corporate(USA) executives, stealing corporations blind, why nobody( you all citizens) cited any shocking examples, based on actual court cases in America, or other specifics. Surely, there must be some stockholders, who followed corporations, who have seen the way boards(buddy back scrathers), and executives just rape, and blunder the accounts of corporations.
    Once in a rare time, some guy like the Qwest CEO is sued criminally for stock stuff, like selling stocks on inside info(insider trading), while putting out false info to the SEC, but that is rare, and it is now seems to be standard practice for CEO’s CFO’s etc to get insane comp packages, PP’s( or private jets), and live high on the hog, getting millions per year, even if a corporation’s stock goes in the tank, and many workers are laid off. And, the really big bucks are scooped in for CEO’s who can ship operations overseas to have the work done by slave labor, and lay off whole sections of American operations, putting many U S works out on the street.
    Why even MBA schools ( U of Penn, Wharton) teach the Ricardo econ model of compartive wage advantage, to help screw America and it’s workers.
    Of course, we(the USA as a Nation) have the highest trade deficits and budget deficits in the history of mankind, and the world.
    What we have our corporate executives who are destroying America right before our eyes, and , it is as bad as if a German SS Panther Divisions were running amuck all over the America landscape, plundering and causing havoc. Don’t fool yourself economic warfare, and class system games have been going on for a long time, and some politicans –who are part of the sell out—can no longer sugar coat it.
    We have reached—the tipping point. Yes, Gerry calls it a “depression”.
    Deja vu, we are at that crossroads.

  39. The book is entitled, “Every Man A Speculator”. It details Americas relationship with Wall Street from the time of Jefferson and Hamilton. You don’t even have to finish it (I haven’t) to know that little if anything has changed in the interim. Swap 1880’s Railroads for 1980’s Oil and…

  40. The trouble with federal courts and the DOJ is major, & here is a court ruling from a federal court in Texas:
    “The misconduct(a jury verdict was tossed for wrongul conviction by the DOJ, and the person sued the DOJ) that resulted in Wilson’s..conviction being overturned, suborning perjury(by DOJ officials), and withholding Brady material, are squarely within the advocatory functions(of DOJ officials) that Imbler is intended to protect)”…

    The federal court threw out the complaint of the person wronfully convicted by the DOJ.



    So, DOJ attorneys who lie, violate the Brady rule, and deal in perjury is something that is just AOK in federal courts— i. e “protected”.
    Texas has the highest death penality rate in America.
    But, putting the doped up Johnny in jail is a piece of cake(see Gerry’s piece above), the DOJ don’t do as well, however,when it goes up against corporate(high executive) criminals who can spend millions on a defense.
    And, Gerry is worried about stockholders, has he read(just hitting the wires) of the theats of Ex Sec of the Treasury Paulson, to induce the Bank of America CEO to breach his fiduciary duties to stockholders, so as to screw and cheat B of A stock holders out of billions, many 1,000’s and 1,000’s of them just ripped off, and so, we see some real shady stuff at high levels in the GOV–protected like some have a license to lie, cheat, and make a mockery of an honest justice system in America.
    It is so shameful— Gerry should write another book on it, I would buy it, but we already know we are getting screwed, by stuff that goes on in the
    system when courts rubber stamp the best offical liars, and rule: making a mockery of justice is swell.(DOJ liars are protected to lie, cheat, and rob the justice system of an honest operation.).
    By the way, I am not in prsion, or a convict, I used to work for the FEDS, and it makes me sick on what I have seen go on. It makes me sick to my stomach, the way some DOJ attorneys are serial liars.

  41. Wall Street used to be a slave market. Human bondage. Getting railroadded is a continous thing that politicans do who are the servants of the old slave market– Wall Street.

    • Kelly, we are, at this moment in history, still a slave nation. Only a far more elusive and sophisticated one. Ask any worker who has lost his pension after a lifetime of toil for a non-living master, namely, some corporation, and who has spent what he has earned in paying usurious interest to the banks and finds himself and his family foreclosed — ask him about slavery.


  42. I can ask my brother in law who worked for Delco, whose pension is connected to GM.
    But, some will say, GM must go the bankruptcy route to survive, code for
    putting workers back.
    The devestiation in Detroit,
    and Dayton is immense, one can see it, all over the areas.

  43. Exploitaton, lets see a whole section of labor law is master servant relationships(Harvard Law Review 101). Also, people are told, they can serve only one master.
    The master is deeply rooted in the law(for the master) not just of 1840, but of 2009.
    Those who do swaps, derivatives, and other hedge fund deals demanded the U S government hand over trillions, and pass on the debt to you, American citizens. Then, we are told, this is a stimulus to get the economy going.
    The Federal Reserve is a private bankers club, trading in human bondage, all be it in more sophiscated leverage method, than when balls and chains were put on the bodies of those who worked in the cotton fields, and had no wages, and all their labor was stolen. The fight between capitol and labor was imbedded in the US Constituion, when it recognized slavery( to form a Union)
    Yes, part of the origional intent–the U S Constituion. Ask Gerry if that is covered in law schools, and exactly what classes, and how so to address the abuses happening to PEOPLE, today–in America !
    When wages never increases for people to live on, then people used plastic to pay the bills.
    Then, Congress changed the bankruptcy laws where worker contracts can be broken to remove pensions, and lower wages, but the banruptcy laws keep in place credit card debts, so placing the master first is imbedded in the tradition to cheapen labor, and if it is not cheapened, your job moves to Asia, as China loan the U S the trillions on the treasury bills, as if Congress is selling you out at every turn.
    What are any going to do about it, may we dare ask ? Get another flat screen, punt, or what ?
    Sweet words of change and hope, are belied by vast PAC money, as both parties are the instruments of the master, working in boot step as the master’s power is deeper than ever. Only one President took on the master—Lincoln.
    Some may say they know Lincoln.
    Obama is no Lincoln. On the list of sucide rates for Countries on earth, most of the Nations on the African continent are not even listed.
    In some countries the genocide rate is higher.
    In some places like the U S , the murder rate is sky high. And in Afghanistain, the poppie seeds are forever, as the flow of heroin is the big cash crop, but Generals keep you in the dark, and tell you the nuclear bomb may not be safe if Pakistain falls. Lifes are made cheap, and labor made even cheaper by the money changers, only the slogans change over the decades. The chain of slavery, first one African tribe captured another’s members, traded with the shippers, out of Boston, who took the boat load of human bondage to South Carolina, and the labor for the fields were secured. It was part of globlization. Cheap labor from one place trasported to another. Now, it is a new form of labor cost transfers, all factored in on the spread sheets.
    Explotation has no single shade, it is multi demensional. I bet Kelly may have even studied master-servant relationships, or been a part of that—live in the USA. Markets are not free, or are free lunches free, whiskey costs real money.

  44. Can you trust products made by Corporations(, “can you trust its products and services)”, says Gerry ?
    Would you prefer products made by a Chinese Corporation, made by a front for the Chinese Communist Party ?
    Besides “oil” is fungible, after all Husky Oil Corp, which was so big in Cody(and so interconnected to some politicans there), is now largely owned by a front for the Chinese Communist party, as it is operated out of Canada.
    Seems odd doesn’t it, but it is all part of Globalization, and how the American workers are stabbed in the back, at every turn.
    Can you trust refined oil in your car that comes from foreign countries, or do you tout the wonders of free trade ?
    Do you trust Walmart who is the biggest importer of goods from China ?
    Well, a lot of you must, Walmart is the darling of the Clintons, and most U S. politicans.
    Do you trust Senator Feinsteins hubby who brokers deals all over the world, and the company he is a major stockholder in, gets big fat DOD contracts in iraq, and his other company(he owns major stock in) gets big fat other FED contracts ?
    Do you trust… ?
    Some might really look at what is going on, as to how politicans are exploting things to hurt America, while some are personally profiting at the great expense of All AMERICANS…

  45. Brad Bradshaw

    I’ve been to legal seminars all over the country to listen and learn from the best, members of the inner circle and the like. But you are the master. You have a superhuman ability to make the complex become simple and crystal clear. We need your voice. Stay well my friend.

    P.S. I convinced my law partner (probably the best young trial lawyer in Missouri – that’s another story) to go with me and watch your closing argument in Detroit. He has always made fun of my admiration of you. He wasn’t making fun after he heard your closing, nor has he since!

  46. Good Blog

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