NY AG Investigation: Why Haven't Wall Streeters Gone to Jail?

Discussion in 'Politics' started by Flaylo, May 20, 2011.

  1. Flaylo
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    Flaylo Handsome Devil

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    NY AG Investigation: Why Haven't Wall Streeters Gone to Jail? - Yahoo! News



    Well rightwingers, why do you still bow down and kiss the feet of Wall Streeters?
     
  2. StevenC
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    StevenC VIP Member

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    You really think either party will attack those with the money and power?
     
  3. uscitizen
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    uscitizen Senior Member

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    We are a Politicorp.
     
  4. Dr.Drock
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    Dr.Drock Senior Member

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    Especially when these are the same people filling their pockets on the campaign trail.
     
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  5. Jarhead
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    Jarhead Gold Member

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    What crime was committed?

    Really....who REALLY committed the crime...

    The person who sold the mortgage....

    OR...

    The person who signed an affidavit stating that the information they claimed on their mortgage application was the truth to the best of their knowledge....knowing dam well that they were lying about their income.
     
  6. 8537
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    8537 Senior Member

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    i think the question is a bit more complicated than simple politics and who butters the bread. I'll be the first to lineup any Wall Street folks who committed fraud or violated the public trust.

    However...if the complaint is that firms sold worthless MBS's and CDO's to other firms, that in-and-of itself is not illegal by any means. It would only be a problem if they sold assets without proper disclosure. We don't have laws to protect Wall Street firms from their own stupidity.
     
  7. Flaylo
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    Flaylo Handsome Devil

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    With all apologies to my cousin and brother, you prove exactly why Marines are dickheads, nobodt willfully signs anything that they know to be fraudulent.
     
  8. Jarhead
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    Jarhead Gold Member

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    I, personally, lost money due to the mortgage meltdown.
    I blame no one but myself. I invested with the hopes my money would make easy money for me. If I had won the gamble, I would say "good call"....and if I lost, I would say "bad call"

    Bad call.

    And I again say...the real law breakers were the ones who lied on their mortgage applications. When you sign an app there is a disclaimer that says when you sign it you are attesting to the validity of the information to the best opf your knowledge.

    The NINJA loans opened the door to the consumer to act illegally and unethically....if anyone actually broke a law...it was the ones that lied when they signed the affidavit.
     
  9. Jarhead
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    Jarhead Gold Member

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    Are you sertious?
    Do you not know what took place with the mortgage crisis?

    PEOPLE TOOK LOANS THAT THEY COULD NOT AFFORD.

    EVERY LOAN WAS REVIEWED BY AN UNDERWRITER AND THE APPROVAL WAS BASED ON THE INFORMATION ON THE APPLICATION.

    IT WAS FOUND THAT THOSE THAT KNEW THEIR INCOME AND JOB HISTORY WAS NOT GOING TO BE CHECKED INTO, LIED IN AN EFFORT TO GET THE LOAN.

    THEY BELIEVED THAT WHEN THE ARM EXPIRED THEY WOULD BE ABLE TO REFINANCE MAKING THE LAOI AFFORDABLE FOR THEM SO THEY WERE NOT CONCERNED.

    You just showed how naive you are as to what happened.

    I suggest you retract your insult to the marines.
     
  10. Intense
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    Intense Senior Member

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    The Powers that be do not want to spend the Holidays visiting their relatives in jail, that's why.

    When is the AG going to focus on the Carbon Credit Scheme? ;) When Hell freezes over???
     

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