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Wednesday, April 7, 2010 as of 11:14 AM ET

The Casone Exchange
  • June 19, 2008 03:37 PM UTC by Cheryl Casone

    Perp Walk

    We are going to see many more of them. Not the common thug or the drug lord, but Wall Street executives. This was my best guess on today’s 12pm show:

    “Let the prosecutions begin……The public is thirsty for heads to roll and someone to blame for the credit crunch and the mortgage meltdown. Federal and state authorities are conducting independent investigations, and there will be a late summer rally in suits in handcuffs.”

    If I could buy stock in SIH, I would pick up a hundred shares just to prove I’m right. I remember as a reporter covering Martha Stewart and Dennis Kozlowski. They were a little arrogant maybe, a little loose with their actions, or in Kozlowski’s case his company’s money, but this is going to an entire new level.

    It was interesting reading the Bear indictment. They really thought they had gotten away with something. As in, they’d saved their own skins, while keeping their hedge fund afloat. Those one liners in that indictment are going to be quoted in every story, on the network newscasts tonight, and will get extra special attention when Lesley Stahl does the inevitable 60 Minutes piece a year from now, where she talks to the guys in jail, and asks them if they really said that, and what was going through their mind at the time.

    Are they going to spend time behind bars? Probably. Email trails have undone the slickest CEO or stock analyst, and these guys will be no different.

    Congress may get absolutely nowhere regulating investment banks and mortgage originators, but you can bet there will be some successful prosecutions out of the hundreds of indictments being handed out this week.

    And yes, we’ll cover it. Perp walk and all.

    CC

Peter

Hey diddle, diddle

June 29, 2008 at 11:29 pm

Bill Vreeland

Cheryl - if you are correct in your observations then Anthony Mozilla at CountryWide should be in an orange jumpsuit today! Hopefully Senators Dodd and Conrad will visit him in exchange for earlier "Angelo's Friends" special loan treatment.

June 25, 2008 at 11:00 am

jflick

The public should be "thirsty" for truth and justice, not someone to blame. A late summer rally in "suits and handcuffs" this year may turn into an early summer of appellate court reversal's next year. When reporters and news organizations start being held accountable for inciting (in some cases) the frenzy that surrounds corporate business reversals and prosecutions for no other reason than to find someone to blame...or fill newspaper space and TV time, then things might change. Articles like this one that convict and condemn before all the facts are even in is not news or even commentary, its the lowest form of gossip.

June 20, 2008 at 9:07 am

Justin

The government and the banks are on the same side. This is just a PR stunt to help the government score some points with the American people who know nothing about who money/the federal reserve actually work. It's pretty much an unholy alliance. The Fed creates money for the government to spend and the government carries out the wishes of the global bankers.

June 19, 2008 at 4:20 pm

about this blog

  • Cheryl Casone joined FOX Business Network (FBN) in September 2007 as an anchor. Prior to FBN, Casone served as a correspondent for FOX News Channel’s (FNC) business unit and was a regular guest on FNC’s Your World with Neil Cavuto. Casone brings years of experience covering finance, business, and consumer news to FBN.

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