A posse of one; Andrew Cuomo rounding up subpeonas and herding up some prominent names? Hope so! 
Pigman Subpoenas – It’s About Time
Courtesy of Karl Denninger at The Market Ticker
It is being reported on CNBC (and now on Marketwatch) that Andrew Cuomo (one of the few law enforcement folks who actually take the word law and enforcement as serious commitments, in my experience) has decided to subpoena former CEO Thain under the Martin Act (a securities guy’s nightmare, as it is a criminal fraud statute!) related to the bonus payment move-up.
I’ll say this – if Cuomo starts bringing charges related to the collapse and bullcrap that has gone on over the last year and a half, especially if he starts targeting the fools who paraded their companies around CNBC claiming they were "Well capitalized" days before collapse, I’ll kiss Cuomo on the lips – and I’m not gay.
I’m truly impressed, and will pray nightly that Cuomo hasn’t hired any $3,000/hour hookers that can be used to derail his investigation as happened with Spitzer.
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The Martin Act is a 1921 piece of legislation in New York that gives extraordinary powers and discretion to an attorney general fighting financial fraud. People called in for questioning during Martin Act investigations do not have a right to counsel or a right against self-incrimination. The Act’s powers exceed those given any regulator in any other U.S. state.
