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Why John Kinnucan chose not to wear a wire: "The evident intent of the Justice Department to...

Why John Kinnucan chose not to wear a wire: "The evident intent of the Justice Department to retroactively criminalize what has been common practice for years - done by investment banks, research providers and mutual and hedge funds alike - seems like a profound miscarriage of justice." (earlier)
Comments (6)
  • Jasper M
    , contributor
    Comments (1652) | Send Message
    Ah, the cyclic forces of history in action!
    In good times, laws are interpreted and applied loosely, for the perceived betterment of all. When that laxness creates or amplifies catastrophe, and hard time arrive, the same laws are applied with great zeal.
    Same laws, different philosophy.
    I do not excuse those whose greed got the better of them. But I do not pretend this is some heinous, new phenomenon. It has happened before. It will happen again; probably just as soon as all those who remember this cycle are dead.
    29 Nov 2010, 03:35 PM Reply Like
  • frosty
    , contributor
    Comments (713) | Send Message
    And it should have been prosecuted before and it should be prosecuted again!
    29 Nov 2010, 05:24 PM Reply Like
  • Anwar Bhamla
    , contributor
    Comments (98) | Send Message
    Since when does prosecution of criminal and illegal activity practiced by a bunch of greedy and unethical institutions become "a profound miscarriage of justice"?


    It is amazing that one would try to justify illegal activity just because it has been overlooked for years.
    29 Nov 2010, 03:48 PM Reply Like
  • Duude
    , contributor
    Comments (3398) | Send Message
    Its not like this wasn't a well-known practice. It was practiced in the open leading many to believe it was legal, unlike all those congressional staffers taking early positions in companies they knew were about to receive a favorable bump based on not-yet-announced congressional action.
    29 Nov 2010, 04:12 PM Reply Like
  • frosty
    , contributor
    Comments (713) | Send Message
    For 8 years, Bush chose not to investigate insider trading much less prosecute it. In fact, his SEC chairman Chris Cox actively opposed investigations believing that these were financial and not legal matters and the market would self-correct abuses. Choosing not to go after crooks in the past does not make an illegal practice legal.
    29 Nov 2010, 05:30 PM Reply Like
  • davidbdc
    , contributor
    Comments (3186) | Send Message
    profound miscarriage of justice....... hmmm.... you mean like retention bonusses for those who wrote insurance policies against no assets? Or like ongoing bonusses to employees whose companies were driven to bankruptcy?


    Its like the bank robber that says...... but there weren't armed guards at the previous four banks!! Its not fair!!!
    29 Nov 2010, 05:45 PM Reply Like
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