Occasionally the SEC and other regulators will castigate, actually punish, fraudulent events on Wall Street.  Of course the real punishment is only meted out to individuals and small companies.  Mega banks – the banking mafia – are largely immune.

 

Martha Stewart was convicted of insider trading in 2004 – a relatively small amount – and was sent to jail.  It was an act of fraud alright, but it pales in comparison to the fraud of Wall Street banks.

 

Phil Falcone, a once high…