By Mike over at Crime & Federalism.
Why the draconian eight year sentence for a bit player in the financial crisis thing, when all the big criminals are all getting a pass?
Since nothing in the public record explains it, you begin looking at the hidden motivations of the judge, in this case one Denise L. Cote.
While her “career path” has been described in the NYT as “somewhat unusual“, it is nothing of the kind. It is a typical federal judge pedigree: lots of time as a federal prosecutor. Time in private practice? Very brief – a few years over a thirty five year span – and undistinguished. And all in large, establishment law firms representing insurance companies, banks, etc. In short, a company (wo)man from the get-go.
(As an aside, I was talking to a young lady the other day who was concerned about the lack of education and opportunities for women in poor countries. I was constrained to point out that women in the US that have made it to the judiciary are indistinguishable in their ruling habits from male judges. Having women on the bench has made no difference at all: the government wins, the bank wins, the insurance company wins. This is the “law” in American courts whether it’s men or women wearing the robe.)
Cote sits in New York City, which you would think would be a happening place in federal courts what with all the fraud, larceny, lying and cheating that goes on among the bankster class.
Does Cote have a track record? Oh yeah. Try this from 2005:
NEW YORK, Feb. 2 — A groundbreaking settlement in which 10 former WorldCom Inc. directors agreed to pay $54 million, including $18 million of their own money, to settle a shareholder lawsuit collapsed Wednesday after a federal judge rejected a key part of the deal.
Shortly after the one-page ruling from U.S. District Judge Denise L. Cote, New York Comptroller Alan G. Hevesi, the lead plaintiff in the class-action case, canceled the deal with the 10 former directors…
…The ruling from Cote came after a group of Wall Street investment banks named as defendants in the case, including J.P. Morgan Chase & Co. and Bank of America Corp., asked the judge to reject the settlement.
So, you know, she toadies for the investment banks generally and then gives some very nice looking Russian guy eight years, I guess for dissing Goldman Sachs:
Mr. Aleynikov came to the United States from Russia in 1990, just before the fall of the Soviet Union. He spoke little English and, according to his lawyer, had just $300 in his pocket and an expertise in computer programming.
He comes from the Union of Soviet Socialist Republics only to find himself imprisoned anyway, after some time in the People’s Republic of New York. What difference does it really make? A gulag is as a gulag does.
Maybe when the unwashed hordes descend upon Wall Street later this month or next month, they can demand the resignation of Bernanke and Hon. Denise L. Cote. I try to restrain vengeful impulses in myself and others, but some days I wonder why.