Obama: Banks Did Nothing Illegal

Discussion in 'Stock Market' started by Mad Scientist, Oct 17, 2011.

  1. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Fascinating! Seems our Dear Reader only thinks Wall Street and Banks only found "loopholes":
    President Clears Wall Street Of Crimes | Firedoglake
    As Max Keiser said on his show a few days ago: "Why isn't this guy impeached?"
     
  2. Sallow
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    Sallow The Big Bad Wolf. Supporting Member

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    Ah so..the class warfare charge is what? Not true?

    :lol:
     
  3. PoliticalChic
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    PoliticalChic Diamond Member

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    No, you silly Canis...
    ...it shows that this scoundrel talks out of both sides of his mouth!

    How do you feel now, having fallen for the "Hope and Change" line...?
     
  4. martybegan
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    martybegan Gold Member

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    How does "alot of that stuff" translate into "everything that happened?"

    People are getting tried for provable fraud. The root causes of the banking crisis, Mortgage back securities, Default credit swaps ans subprime mortgage lending were all perfectly legal practices.

    I know people would LOVE to retroactively make those things illegal, but ex post facto law is specifically banned in the consitution.
     
  5. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Duplicity:Thy name is Obama
    Obama extends support for protesters - FT.com
    Of course they shouldn't "demonize" them because they didn't commit any crimes! But if they didn't commit any crimes, why does Obama support the protesters? :confused:



     
  6. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    You have much to learn about the whole subprime banking crisis.
     
  7. martybegan
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    martybegan Gold Member

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    What part of most of the subprime lending was illegal? It was the banks themselves ignoring thier own internal guidelines, not criminal law, when they decided to lend to people below prime levels.
     
  8. California Girl
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    California Girl BANNED

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    Actually, they were pretty much forced to lend into sub prime. But please carry on pretending they weren't.
     
  9. iamwhatiseem
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    iamwhatiseem Gold Member

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    The mortgage bubble was built, maintained and 100% designed by Washington and the FED. All of the lost jobs over the past 20 years - a result of NAFTA.
    Period.
    The OWS are "occupying" the wrong street - it should be Pennsylvania Ave.
     
  10. Mad Scientist
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    Mad Scientist Deplorable Gold Supporting Member Supporting Member

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    Internal Guidelines? Are you saying that there are no Federal Regulations that cover Loan Origination, Underwriting, or Appraisals?

    Not only are there Federal Laws but there are State Laws (Statutes) that apply and vary from state to state. What, do you just sit around watching TV all day? Do you not read?

    If the Banks and Mortage Brokers didn't break any law then why did Obama and his Justice Department create a Task Force to go after it?
    Obama administration attacks mortgage fraud and predatory lending:Will Eric Holder deliver - National Michelle Obama | Examiner.com
    This is the biggest theft in the History of Mankind! Conservative estimates peg the total of the mortgage and securities fraud connected to it at 1,500 Trillion dollars!

    Buy you say the banks only violated internal guideliines? :confused:


     

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