Morgan Stanley sold worthless bonds, and made a lot of money doing so, and when they got caught, they made what appears to be another “No Declaration of Wrongdoing (DOJ press release) settlement over this, the New York Times described it as Morgan Stanley to Pay $3.2 Billion Over Flawed Mortgage Bonds.

As former S&L crisis investigator notes, these bonds were not flawed, they were fraud.

Throw some banksters in gaol, please.