Thursday, January 22, 2009

Blundering Herd Instinct

Didn't get a change to comment on this in the AM but it boggles the imagination that Thain's authorization of bonuses can be considered to be anything other than fraudulent conveyance.

That this is so clearly and fragrantly a violation has been picked up elsewhere in the blogosphere...I would only comment that Thain's actions as well as his million dollar office decorating adventure exposes without doubt the bankster mentality that has ruled the roost for as long as I can recall.

Unfortunately for the Bankster Boy Scout, there may be predicates.

By STEPHEN BERNARD and IEVA M. AUGSTUMS – 11 minutes ago
Associated Press

New York Attorney General Andrew Cuomo has opened an investigation into the bonuses, a person familiar with the probe told The Associated Press on Thursday. The person spoke on condition of anonymity because the investigation is ongoing.

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