I've said before the Justice Department (DOJ) had millions of dollars and seven years to prosecute WL and has done nothing to Citigroup executives. Wait you say, the billions of writeoffs were last month. So? When did Uncle Sam first learn they were coming? Why Did Hank Paulson (HP) become Treasury Secretary on 10 July 2006? Is HP an accessory after the fact, 18 USC 3 to securities fraud? Or is he a principal under 18 USC 2 as an aider-abettor?
As a condition of going public, SEC registrants should be able to be sued in any federal district court in which they operate, similar to criminal conspiracy venue provisions, which case can be tried in any federal district court in which it is alleged an overt act furthering the conspiracy took place, or RICO's at 18 USC 1965. Why Delaware's courts should hear shareholder cases is beyond me. Shareholders will miss WL, with all his flaws. I never saw how what WL was charged with harmed shareholders of any company he sued. Who was the supposed victim of WL's "crimes"? See my 12 September and 29 October posts.