Could be the biggest news story so far this decade.

Discussion in 'Stock Market' started by iamwhatiseem, May 17, 2011.

  1. iamwhatiseem
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    iamwhatiseem Gold Member

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  2. uscitizen
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    uscitizen Senior Member

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    I will bet Fox is all over this.
     
  3. California Girl
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    California Girl BANNED

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    I'm curious as to how it'll play out globally.
     
  4. Truthmatters
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    Truthmatters BANNED

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    I surely hope it ferrets out the real thieves.

    If it can manage that then maybe the people will completely understand why we need to regulate this industry and in what way.
     
  5. iamwhatiseem
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    iamwhatiseem Gold Member

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    The other day I wrote this in another thread...


     
  6. California Girl
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    California Girl BANNED

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    Thieves, not theifs, you ignorant septic tank. Here is a little helpful tip for you... 'I before E, except after C'. Got that? Good.

    And... there is no value in the US regulating banking if other countries do not. All that will happen is that the banks will move their HQs overseas, and carry on. If we are to address the whole banking system, it must be a global regulation or it will not help.
     
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  7. iamwhatiseem
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    iamwhatiseem Gold Member

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    All we can hope is that the media doesn't allow this to get buried.
    I am VERY confident that the FED and the SEC, as well as several congress/senate members AND the White House will push hard for this guy and his team to stifle the investigation.
    As it would certainly also reveal that the FED and the SEC were complicit in the fraud at minimum. At the same time it would also show the public that the for last 20 years the stock market, and the entire financial system in America was a mirage. Indeed, this investigation if fulfilled could send the markets in a suicide fall.
     
  8. Trajan
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    Trajan conscientia mille testes

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    didn't we go thru this with GS bundling and welling what they knew was crap via e mails etc.? Its legal, I am sorry but there it is, unless I am missing something from this article......

    the real culprits, imho are S&P, Moodys and Dun & Bradstreet, they awarded the ratings...
     
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  9. kwc57
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    kwc57 BOHICA Obama

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    My wife and I have both worked in the banking industry for over 30 years now. What few people realize is that banking is one of the most heavily regulated industries in the country. The other thing that people don't realize about the mortgage side of banking is that banks were forced by the government to make loans to people who didn't qualify and couldn't pay them back. If you want to get to the root cause of the mortgage crisis, it is the government and not the banks. When it comes to lending money, the vast majority of banks are very conservative. They want to make loans to people and businesses that will actually pay the loans back as they make money off the interest payments. When forced to loan some high school dropout who is flipping burgers the money to buy a two bedroom house, they know they will most likely never get paid and the property will wind up in foreclosure.
     
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  10. Caroljo
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    Caroljo Gold Member

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    And all this started back in the Clinton administration...i'm so surprised!
     

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