francoHFW
Diamond Member
for example- Bush sent 3/4 of FBI fraud investigators over to anti-terrorism, never replaced them...
Scary stuff...
Scary stuff...
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In the four-plus years since the 2008 financial crisis, the Securities and Exchange Commission has brought charges against more than 150 people and institutions, and won $2.68 billion in penalties. For critics of the governments response, though, a far more telling number is zero the number of Wall Street executives who have been prosecuted for fraud related to the financial meltdown that left 8.8 million Americans jobless and led to a $700 billion government bailout.
You could write a book about what a Bankster Scumbag that Lloyd Blankfein is.They may say that, like [Goldman Sachs CEO] Lloyd Blankfein argued: It was perfectly OK to essentially not tell our customers that we were selling our securities to get rid of them at the same time we were selling securities to you. We were betting on the fact these securities were going to go down. But thats OK, because were a market maker, and were allowed to do that. That is not a natural disaster. That is something where somebody is engaging [in] behavior that in any other business in America is criminal.
Are you saying Lloyd Blankfein was engaged in criminal activity?
No, it is not criminal activity because [of] the law; theyre allowed to make this market maker thing.
But you said its criminal.
Im saying its wrong. Im saying its not a natural hurricane. Im saying its something that happened directly because of behavior by these folks. People think because theres laws that somehow theyre given by some kind of divine intervention. If you try to put a law forward in the Congress and there are people in important constituencies that dont want that law, they shape that law.
The reason why we have insider trading cases time [and] again where nobody ever gets convicted of insider trading, they get convicted for obstruction of justice. Thats because the law on insider trading is ridiculous.
The reason why Lloyd Blankfein can say that is because theres a provision of law that says market makers dont have to abide by what everyone else did.
There's no hope for you Franco.Well, he's not trying to screw up the country, but he HAS tried to regulate them. He's not a deregutan' chump. Let's give him until the statute of limitations is up. At least he had strings attached to his bailouts too. Vive la difference...