John Cassidy in The New Yorker brings more to light on the Wall Street Mess from 2008, including choice quotes from Anton Valukas’ 2,200 page report for the bankruptcy court:
If we are to prevent another, potentially more devastating financial crisis, we must understand what happened and who knew what. We must stop the three card monte accounting practices that create the potential and reality of fundamental misrepresentation.
Cassidy:
Eliot Spitzer and Bill Black, two lawyers who know a lot about Wall Street wrongdoing, are calling on Congress to launch its own inquiry into the matter. If I am right, this is only the beginning.