It seems the Wells Fargo and Principal banks got caught cheating the rest of us out of a hundred million bucks or so. They loaned some money to cooperative Frogs and told Uncle Sam it was a tax-free investment. The judge told them they were full of it.
The U.S. Department of Justice is delighted. One of Holder's Heroes says the rulings show the federal government will not tolerate companies that construct tax shelters for fictitious investments.
I think maybe the Holder guy is a little over the top in the self-righteousness department. I'll be glad to modify that opinion when I see the DoJ try to at least annoy Solyndra execs and the Obama operatives who tossed money down that rat hole.
In round numbers, Obama buddy Solyandra swiped five dollars for every one the banks tried to steal.
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