Four Banks Found Guilty of Fraud


By bgamall4   Follow   Wed, 19 Dec 2012, 10:29am   427 views   12 comments
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http://finance.yahoo.com/news/four-banks-found-guilty-fraud-164107833.html Heads up if you are invested in these nasty banks.

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  1. Peter P


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    1   10:33am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Yeah those Italians also found scientists guilty for not predicting an earthquake.

    Be glad that we have a common law system.

  2. bgamall4


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    2   10:37am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Peter P says

    Yeah those Italians also found scientists guilty for not predicting an earthquake.

    Be glad that we have a common law system.

    You again show you aren't quite up to snuff when you discuss these matters my friend. In fact, the scientist were convicted for telling everyone not to worry about the earthquakes in the face of data that showed otherwise. Look it up.

    Are you a bankster AND a libertarian, Peter? Double bad.

  3. Peter P


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    3   10:41am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Anyone who trusts imperfect models on things like earthqakes and climate change should have known better.

    It is like someone who gambles with a "system."

  4. bgamall4


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    4   10:53am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Peter P says

    Anyone who trusts imperfect models on things like earthqakes and climate change should have known better.

    Apparently, Peter, it is against the law to state what amounted to a lie, a fraud, that there was nothing to worry about.

    Just because people should have known earthquake predictions are pretty far out and difficult, does not make their lying, in the face of data that showed otherwise, ok.

    Had they said nothing, they would not have been prosecuted.

  5. Peter P


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    5   10:56am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    It is not illegal to make a statement that turns out to be false. It is not even a crime to lie in most circumstances.

    Data would always point to the truth but only in hindsight.

  6. bgamall4


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    6   11:07am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Peter P says

    It is not illegal to make a statement that turns out to be false. It is not even a crime to lie in most circumstances.

    Data would always point to the truth but only in hindsight.

    You are assuming you understand the law and the reasoning behind the judgement against the. But I don't think you do. Apparently they were charged with the task of warning people. If they didn't know they could have said so. They decided to state there was no danger.

  7. bgamall4


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    7   11:08am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    And Peter, you still didn't tell me if you are a bankster as well as being a libertarian, which you have admitted to being.

  8. Peter P


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    8   11:09am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    I wish I were a banker. But no.

  9. bgamall4


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    9   11:14am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Hey Peter, did you know that the Bernanke backstop gives a government guarantee to private banks that want to take over the business of the GSE's? JPM, and the other TBTF banks including Wells Fargo want this business, but with PERMANENT guarantees.

  10. lostand confused


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    10   11:16am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    Oh this is in Italy. For a moment there, I thought a bank was found guilty of something in the good ole USA!

  11. Peter P


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    11   11:18am Wed 19 Dec 2012   Share   Quote   Permalink   Like (1)   Dislike  

    bgamall4 says

    Hey Peter, did you know that the Bernanke backstop gives a government guarantee to private banks that want to take over the business of the GSE's? JPM, and the other TBTF banks including Wells Fargo want this business, but with PERMANENT guarantees.

    More reasons to want to be banks. :-(

    Sucks for us.

  12. bgamall4


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    12   11:25am Wed 19 Dec 2012   Share   Quote   Permalink   Like   Dislike  

    lostand confused says

    Oh this is in Italy. For a moment there, I thought a bank was found guilty of something in the good ole USA!

    We can hope this will one day extend to American cities who were screwed by these derivatives. As it is, Oakland is considering walking away from interest derivatives, which were just as crappy as the mortgage backed derivatives.

    It is all a scam by the bankers upon the world, and upon you so that they get money for government that should be going to the police that protect you.

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