Someday, it will go down in history as the first trial of the modern American mafia. Of course, you won’t hear the recent financial corruption case, United States of America v. Carollo, Goldberg and Grimm, called anything like that. If you heard about it at all, you’re probably either in the municipal bond business or married to an antitrust lawyer. Even then, all you probably heard was that a threesome of bit players on Wall Street got convicted of obscure antitrust violations in one of the most inscrutable, jargon-packed legal snoozefests since the government’s massive case against Microsoft in the Nineties – not exactly the thrilling courtroom drama offered by the famed trials of old-school mobsters like Al Capone or Anthony “Tony Ducks” Corallo.
The article will make you mad because it shows how these guys n Wall Street cheat and game the system for their own enrichment.
This is not capitalism but outright fraud. Why do they call themselves job creators when they simply rip off towns issuing municipal bonds?
This is why regulations are needed – to level the playing field for those who actually want to play a fair game. Otherwise, we are left with criminal jokers like these guys, whose goals are to cheat and make money not through actually capitalism but by fraud.
We know there are thousands of these guys.