Feds: New Wave of CEO Indictments Expected

[sabra]

http://blogs.abcnews.com/theblotter/2007/02/feds_new_wave_o.html

Feds: New Wave of CEO Indictments Expected

Dozens of former CEOs and other corporate officials face possible indictment as the Department of Justice presses its investigation of the backdating of billions of dollars of stock options.

The FBI, IRS and U.S. Postal Inspectors are working on at least 60 active criminal investigations, and federal officials tell ABC News at least a half dozen are now in the final phases of investigation.

"This is a major initiative of the President's Corporate Fraud Task Force," said Justice Department spokesman Brian Sierra.

...

More than 140 companies are under investigation by the Securities and Exchange Commission, and federal prosecutors are known to be considering criminal indictments in a number of the SEC cases.

[William769]

1. Good!

Hopefully because of this the IRS will be to busy to look to close at my tax return this year.

[pokercat999]

12. Man I'm sooo glad I'm not a CEO of

a major corporation. After years of shipping jobs overseas, helping my friends climb the ladder in their corp, putting orphans and widows on the street I'm INDICTED for helping myself to a little tiny piece of the pie.....the nerve. :sarcasm:

[sinkingfeeling]

2. Guess that's why Bush has been firing all those prosecutors!

[ThomCat]

5. Exactly.

He wants the PR value of looking tough, without actually having to convict any rich people of fraud.

[The Backlash Cometh]

11. You don't suppose that they have been intentionally targeting corporations

which are friendly to the Democratic Party, do you?

[LonelyLRLiberal]

16. My thoughts, too.

Let's watch and see.

[PaDUer]

13. Stack the courts w/

who he wants so they will get away w/ things when their turn comes, and not to mention, keep the MSM busy w/ news about Anna Nicole and other things to hide the mega-fights going on and what's going on behind the scenes...I never thought I'd see this day as this country has become. I always thought this country would be much better for our children, grandchildren, etc...I never thought they'd ax the financial aid for people to attend college and get an excellent education--apparently they want "only the rich to get an education" so they can use those who weren't born w/ a silver spoon in their mouths to be their slaves..

I'm not surprised at the continuing amounts of passports being issued like never before, which is speaking for itself as to "why". and the amount of citizens who've already left this country. Thousands of people "have had it" and have left already. I think a passport is only good for 10yrs?, and then do you have to go through the process again or can it be renewed automatically? Where would a nice, safe place to go? Thanks in advance.

[no_hypocrisy]

3. Pardon, Pardon, Pardon, Pardon, Pardon, Pardon, Pardon, Pardon.

Show trials, folks. For your entertainment. This isn't Rudolph Giuliani having Michael Milken led out of his office in handcuffs, sans toupee with the cameras rolling.

[Eugene]

4. Bring it on!

:popcorn:

[Tandalayo_Scheisskopf]

6. Oh, popcorn. Mountains and mountains of popcorn!

Lovely, lovely popcorn!

Plus, it's high in fiber! Good for your colon! ;-)

[The Backlash Cometh]

10. Trans fat.

You'd be surprised how much trans fat there is in some popcorn.

[bigworld]

7. somebody say New Wave?

[aquart]

8. Couldn't happen to a nicer bunch of greedy bastards.

[The Backlash Cometh]

9. It's only fair.

There have been numerous corporations that have already gone through an SEC scrutiny and have paid their debt to society. It's not fair to them that other corporations are still following bad business practices. So, everyone needs to get reigned in to level the playing field.

[ohioINC]

14. Not Rangers and Pioneers.

The Bush administration's Justice Department has already shown a proclivity for dispensing justice according to contributions.

[MasonJar]

15. I hope that the DOJ has included the crooks at the top of the corporate

ladder: Cheney and Bush.

[Amused Musings]

17. It is not

that I have particular venom for corporations other than I worry about the disproportionate amount of clout many of them have in politics- Its just that when they commit corporate fraud-the damage is is the magnitude of people whose lives can be destroyed and the slap on the wrist many of these guys got for doing so.

It is like the airplane versus the car. You can survive most car crashes, but airplanes crashing are a lot more difficult to get through...

[hippiechick]

18. Yo, Justice Dep't ... Steve Hilbert lives over here!!!

:evilgrin: Fucking Criminal.