The Complicated Course Of Stealing Gadhafi's Billions, Beware The 'Splash Crash', Eric Holder Criticized For Not Prosecuting Wall St., World Stock Markets Rocked (LINKS)

Monday morning reading from around the web.

• The Complicated Course Of Stealing Gadhafi's Billions
• As Lenders Hold Homes in Foreclosure, Sales Are Hurt - NYT
• Next Market Danger: "Splash Crash"
• Eric Holder Faulted for Not Catching Credit-Crunch ‘Bandits’
• U.S. Stocks Down 1.5% - Latest Numbers
• Euro falls to lowest since March on debt fears
• Gold bulls watching gold elephants
• Gold moves higher on euro-zone concerns
• Davis, California Screwed Over By High Taxes And Pension Bailouts
• BP Gets $13 Billion Tax Break - For Destroying Gulf Of Mexico
• Merkel Blasts Greece over Retirement Age, Vacation
• Who Will Buy the Foreclosures? - Diana Olick
• The Biggest Risk to the US Financial System Goes Unnoticed - In DC
• Illinois plan to cut mortgage debt is making waves
• China Falls 3%
• Greece to sell ports, Postbank; launch wealth fund

Comments

[DailyBail]

Time for Europe to surrender IMF reins

Commentary: Horse-trading heats up for Strauss-Kahn replacement

http://www.marketwatch.com/story/time-for-europe-to-surrender-imf-reins-2011-05-23

[Cheyenne]

I read that Bloomy piece on Holder's wholesale failure to live up to his word and prosecute Wall Street criminals. Denninger says it's a game of beat-the-clock. That is, as the frauds began in late 2007, the 5-year statute of limitations for fraud runs in late 2012. KD reasons that Obama's 2008 contributions will ensure that jail time ain't in the cards.

This is true, but misses the bigger point. Once you've committed the first crime, the rest are easy. Or, as Cheyenne says to Jill in Once Upon a Time in the West: Once you've killed four, five is easy.

So even if the frauds did begin in late 2007, it doesn't matter. They had to be perpetuated up until now. Fresh fraudulent crimes occur every day.

Not prosecuting, in other words, is now a political platform, whether it's identified as such or not.

[john]

JPMorgan, UBS, Deutsche Bank Said to Face N.Y. Mortgage Probe

http://www.businessweek.com/news/2011-05-24/jpmorgan-ubs-deutsche-bank-said-to-face-n-y-mortgage-probe.html

[DailyBail]

thanks john...i saw that link late last night...it's getting more interesting...

[DailyBail]

So even if the frauds did begin in late 2007, it doesn't matter. They had to be perpetuated up until now. Fresh fraudulent crimes occur every day.

---

excellent point cheyenne...the frauds have continued, and there should be no shortage of actionable behavior if and when holder becomes interested in federal prosecutions...

[DailyBail]

Clinton, N.Y. -- Al Gore, 45th vice president of the U.S., Nobel Laureate and author of An Inconvenient Truth, told Hamilton’s Class of 2011 that the climate crisis is “the most serious challenge that our civilization has ever faced,” and that while the grassroots movement in support of solving the climate crisis is the most powerful in the history of the world, “it will be the generation of you in this graduating class that will really bring about change.” Gore also addressed the political state of our democracy and how decisions made on false assumptions have led to major national challenges.

http://uticadailynews.com/daily_local_news/20942-Gore-addresses-Hamilton-grads.html

Al Gore will not give up...