Massive Bank Fraud article
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2010 May 6, 12:15am 1,433 views 2 comments
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"And that attitude will destroy this country. We’re already well on the way to it."
Over 51% of the blame goes to the general public for the mess and not the CEOs, banks or wall street. Where were these bankers when ordinary people, and their clown realtor enablers, were hyping home prices beyond any rational thinking. The 1980s S&L crisses, dot.com bubble, and Great Depression were no different.
BTW, Stewart got busted for insider trading on a Biotech company. Pretty much every Joe and Mary Smoe in this valley tries to do same pumping people who have inside financial info.
Bill Moyers is an idiot as is Michael Moore.. both are stupid enough to pour their savings into own houses, hoping for every dollar they spend on remodeling will somehow double-triple their return.
Blaming wall street for your own financial illiteracy is hardy the answer.
tatupu70
2010 May 6, 7:30am
Blaming wall street for your own financial illiteracy is hardy the answer.
How about blaming Wall St. for Wall St.'s financial illiteracy?
Loved this article that was on Patrick's Housing Crash news recently, "Massive Bank Fraud." http://dailybail.com/home/massive-bank-fraud-bill-moyers-with-william-k-black-video-tr.html
This is so true. NONE of the CEO's that took out the economy and robbed so many Americans have been punished, and it's clear that lobbyists and money are the reason why. The investigations seem more of a show, to placate the public, than any real attempt to prove fraud and mete out punishment.
Though I was (age-wise) an adult during the S&L debacle of the 80s I wasn't very interested in that sort of thing yet. I wish I'd been more tuned into it at the time so I could now remember that some CEO's did get busted, (so they say).
I predict Goldman will agree to pay a fine, like all the other co's do, to get out of any real punishment. This IMO is no deterrent to future crimes, either theirs or other businesses, because fines are like a small fee they may have to pay, (or maybe not sometimes), to be able to cheat. Real punishment would mean severe financial punishment and preferably also prison time in a real prison, not like the summer camp Martha Stewart went to. Until some CEOs get raped by huge violent cell mates and have no money to buy their way out of trouble or buy luxuries or maybe not even necessities, then the message to other CEO's is clear; cheating is the American way of doing things and it pays handsomely. And that attitude will destroy this country. We're already well on the way to it.
#housing