Alleged hacker arrested for stealing $100 Million from U.S. banks, what about the wizards of wall street who stole billions?
Considering what the “Wall Street Wizards” did to the banking industry, $100 millions seems like a rounding error. And who is to say that $100 million was really stolen given the state of the financial industry’s accounting complexities? I seem to remember that the United States Regulatory Agencies couldn’t even find $1.2 BILLION that disappeared from Jon Corzine’s MF Global without teams of forensic accountants. And as far as I know, Jon Corzine and the other top executives have not been charged with embezzlement or any other crimes – even though money was taken out of supposedly “secure” customer accounts and used for MF Global’s own purposes.
Alleged ZeuS Botmaster Arrested for Stealing $100 Million from U.S. Banks
A 24-year-old Algerian man remains in a Thai jail awaiting extradition to the United States, where he is suspected of masterminding more than $100 million in global bank heists using the ZeuS and SpyEye Trojans.
Malaysian authorities believe they've apprehended the hacker Hamza Bendelladj, who they say has been jetsetting around the world using millions of dollars stolen online from various banks. He was arrested at a Bangkok airport enroute from Malaysia to Egypt.
That email address is mentioned in a complaint Microsoft and IF-ISAC filed in a Virginia federal court against known ZeuS botmasters. Source: Alleged ZeuS Botmaster Arrested for Stealing $100 Million from U.S. Banks | threatpost
And then there is Representative Barney Frank, the powerful presence on the House Financial Services Committee …
Barney Frank Calls For Financial Crimes Prosecutions
Congressman Barney Frank today released a copy of a letter to Administration officials calling for increased prosecution of individuals in the financial industry who have violated the law. In conjunction with the release of the letter Frank released the following statement:
“Officials of the Administration have argued with some basis that instituting criminal proceedings against financial institutions can be destabilizing, and have instead opted for civil proceedings against acknowledged violators of laws that are important for the maintenance of the stability and integrity of our financial system. But these constraints do not apply to prosecution of the individuals who have perpetrated these acts, and this should be vigorously pursued. From the standpoint of deterrence, prosecuting individuals is preferable as this raises few if any questions about institutional stability. Despite the Supreme Court’s conservative majority decision to confer certain human rights on corporations, they are still incapable of acting without human agents, and I cannot conceive of a situation where a corporation is in fact guilty of violating the law where no individuals can and should be held accountable.”
The letter to Attorney General Holder is attached. Letters were also sent to Treasury Secretary Timothy Geithner, Chairman Gary Gensler of the Commodities Futures Trading Commission, Chairman Elisse Walter of the Securities and Exchange Commission, Chairman Ben Bernanke of the Federal Reserve Board of Governors, and Thomas Curry, Comptroller of the Currency.
Barney is the progressive democrat who protected Fannie Mae and Freddie Mac from political fallout after it was found that both of the Government Sponsored Enterprises cooked the books to inflate stock valuations and executive bonuses. Barney is the progressive democrat who touted the safety of Fannie Mae and Freddie Mac – a month before they were forced into government conservatorship to avoid insolvency. Costing the taxpayer BILLIONS of dollars. And, of course, there is the problem with Barney’s gay lover – who was given a job at Fannie Mae with the responsibility of being a liaison to Congress. When confronted, he claimed “everybody” did it – got jobs for their spouses.
Bottom line …
This is just another diversion from those in the Congress and Administration who have been party to the plundering of BILLIONS from the banks and the taxpayers. And, let us not forget, Jon Corzine was a prominent and powerful democrat politician (billionaire Governor of New Jersey) before he was the head of MF Global; not to mention the former CEO of Goldman Sachs.
-- steve
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"Acta non verba" -- actions not words
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