Dr Gregg
Rookie
- Jan 28, 2010
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- #21
mudwhistle, if Goldman Sachs did what it has been alleged they did, they deliberately uprated failing mortgage securities and pandered them to clients, causing losses in excess of $1 Billion. If pursuing wrong-doing on that scale is unwise, I'd love to hear your reasoning for this. In my view, if this occurred, several GS executives need to go to federal prison...civil judgments are not enough.
As for the size of banks, the mergers being complained of now occurred during the Bush administration or before. The three biggest -- Citigroup, Bank of America and J.P.Morgan -- were absorbing smaller institutions throughout the 1990's and beyond. Citigroup itself is a result of mergers between Citicorp and Travelers in 1998, under Clinton.
Obama does need to tackle the question of breaking up the megabanks, but it is not true that he designed them.
Just your usual, run of the mill, Obama bashing thread, not rooted in any reality.
If Goldman's is guilty, then the people involved should be prosecuted. If they did no wrong, then they will be exonerated. And that's all there is to know, no secret agenda, not evil plot to purposely cause the banks to fail. Holding people accountable for deceptive actions. Our justice system will determine it.
it's the fantasy view of many conservatives here that business can't do no wrong, although history shows they will fuck us and be deceptive any chance they get.