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Anybody remember the Savings and Loan crisis and subsequent failure?
Back in the good ole days. When S&L executives actually went to jail for fraud and embezzelment.
Now, according to the head of the Obama criminal justice dept, the executives on Wall street are far to important to the economy to actually be held accountable and go to jail for their fraud.
It's pretty cool to see our justice department create a class of individuals above the law.
Maybe Elizabeth wants to change that attitude. I hope she does.
Ah for the good ole days.
So, is she pointing out a glaring failure of the Obama administration?
Yes, actually she is.
When you ask why the BANKSTERS aren't being held into account, you are asking that question directly to those with the power to do so.
Hopefully Warren's appointment signals that the current regime is serious about solving the systemic problem of our banking system.
FWIW, I don't actually have much hope, but the fact that she's asking the right questions is still better than nothing.
First of all your first statement is hyperbole. Holding someone accountable, through regulation, and taking them to trial are far two different things. I guess what she thinks is not regulation but showy trials. That or she just likes to ask questions to applease her base.
What is Warren's background?
Oh?
So you don't work for a living?
That makes you independently wealthy or on welfare.
like I said, I didn't VOTE for the commie so SHE doesn't represent me
You know what communism is?
I mean really?
In your own words...
Go!
Anybody remember the Savings and Loan crisis and subsequent failure?
Back in the good ole days. When S&L executives actually went to jail for fraud and embezzelment.
Now, according to the head of the Obama criminal justice dept, the executives on Wall street are far to important to the economy to actually be held accountable and go to jail for their fraud.
It's pretty cool to see our justice department create a class of individuals above the law.
Maybe Elizabeth wants to change that attitude. I hope she does.
Ah for the good ole days.
I am not defending anyone nor am I saying there are no crooks but can you name me who is getting off? Who is the Obama administration not taking to trial for fraud or any other type of crime? Seems to me that the only evidence I see presented is that wanna be Native American Warren asked some questions. She could have just as well asked how many bankers did the regulators shoot last year. Or when did they stop beating their wives.
like I said, I didn't VOTE for the commie so SHE doesn't represent me
You know what communism is?
I mean really?
In your own words...
Go!
go look it up if you don't know, not my problem
You know what communism is?
I mean really?
In your own words...
Go!
go look it up if you don't know, not my problem
You don't seem to know what it means.
go look it up if you don't know, not my problem
You don't seem to know what it means.
I'm not playing your game or jumping through hoops for you..
think what ever blows your skirt up
That figures. You must be an Indian too, huh? LOL!!!
Elizabeth Warren is my best choice for President of the United States, when it comes to just women. I think she has a heart and that's what counts.
You don't seem to know what it means.
I'm not playing your game or jumping through hoops for you..
think what ever blows your skirt up
Of course you're not going to, because you know the definition of Communism isn't anything resembling what you think it is...and cannot be applied to Elizabeth Warren or any American politician for that matter.
You know what communism is?
I mean really?
In your own words...
Go!
go look it up if you don't know, not my problem
You don't seem to know what it means.
Anybody remember the Savings and Loan crisis and subsequent failure?
Back in the good ole days. When S&L executives actually went to jail for fraud and embezzelment.
Now, according to the head of the Obama criminal justice dept, the executives on Wall street are far to important to the economy to actually be held accountable and go to jail for their fraud.
It's pretty cool to see our justice department create a class of individuals above the law.
Maybe Elizabeth wants to change that attitude. I hope she does.
Ah for the good ole days.
I am not defending anyone nor am I saying there are no crooks but can you name me who is getting off? Who is the Obama administration not taking to trial for fraud or any other type of crime? Seems to me that the only evidence I see presented is that wanna be Native American Warren asked some questions. She could have just as well asked how many bankers did the regulators shoot last year. Or when did they stop beating their wives.
A few samples:What is the most egregious law broken by banks creating the economic event in 2008-2009 ?
Fabrice Torre of Goldman Sachs and hedge fund manager Jon Paulson created Abacus 2007-ac1 which ripped off investors (you) for hundreds of millions of dollars. They got off with a fine. No jail.
Daniel Sparks and Tom Montag of Goldman Sachs constructed the fraudulent Timberwold mortgage security and sold it to investors (you), then profited by betting against it. They deliberately stuffed the security with mortgages they knew were toxic so they could bet on its failure. They got off with a fine. No jail.
Brian Stoker of Citigroup constructed the fraudulent Class V Funding III CDO-squared which ripped off investors (you) for over $700 million.
Stoker is the only one in this group who was actually tried in court. The jury let him go because they felt the CEO of Citigroup should have been the one sent to prison since Stoker was just doing what the corporate culture taught him to do.
Angelo Mozilo, CEO of Countrywide, was telling his investors that Countrywide was "consistently producing quality mortgages" while his internal memos show he was well aware his company was creating the most toxic mortgages on the planet. He got off with a fine. No jail.
Richard Harrington of Bear Stearns, along with 13 executives and brokers, defrauded investors of $75 million through stock manipulation.
Roland Arnall: Ameriquest. Inventor of the “stated asset” (NINJA) loan. Paid a $325 million settlement with 49 state AGs in early 2006 for misrepresenting and failing to disclose loan terms, charging excessive loan origination fees and inflating appraisals to qualify borrowers for loans.
Immediately after this, in March 2006, Bush installed him as US ambassador to the Netherlands!
How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com
Roland Arnall - Wikipedia, the free encyclopedia
Read this: How a Gang of Predatory Lenders and Wall Street Bankers Fleeced America -- and Spawned a Global Crisis | John Mauldin | Safehaven.com
go look it up if you don't know, not my problem
You don't seem to know what it means.
I'm not playing your game or jumping through hoops for you..
think what ever blows your skirt up
You don't seem to know what it means.
I'm not playing your game or jumping through hoops for you..
think what ever blows your skirt up
There's no jumping through hoops..it's a simple question.
Because you don't seem to know what communism means. I'd like to get your take on it.
Unless it's just a word you throw out there to insult people you don't like.
Then, it's meaningless. You could be calling Warren a dirty diaper head.
And I don't wear skirts, Stephy. You should know that by now.
Anybody remember the Savings and Loan crisis and subsequent failure?
Back in the good ole days. When S&L executives actually went to jail for fraud and embezzelment.
Now, according to the head of the Obama criminal justice dept, the executives on Wall street are far to important to the economy to actually be held accountable and go to jail for their fraud.
It's pretty cool to see our justice department create a class of individuals above the law.
Maybe Elizabeth wants to change that attitude. I hope she does.
Ah for the good ole days.
I am not defending anyone nor am I saying there are no crooks but can you name me who is getting off? Who is the Obama administration not taking to trial for fraud or any other type of crime? Seems to me that the only evidence I see presented is that wanna be Native American Warren asked some questions. She could have just as well asked how many bankers did the regulators shoot last year. Or when did they stop beating their wives.
This paragraph from an aticle in Rolling Stone magizine expresses my frustration very well;
So there you have it. Illegal immigrants: 393,000. Lying moms: one. Bankers: zero. The math makes sense only because the politics are so obvious. You want to win elections, you bang on the jailable class. You build prisons and fill them with people for selling dime bags and stealing CD players. But for stealing a billion dollars? For fraud that puts a million people into foreclosure? Pass. It's not a crime. Prison is too harsh. Get them to say they're sorry, and move on. Oh, wait let's not even make them say they're sorry. That's too mean; let's just give them a piece of paper with a government stamp on it, officially clearing them of the need to apologize, and make them pay a fine instead. But don't make them pay it out of their own pockets, and don't ask them to give back the money they stole. In fact, let them profit from their collective crimes, to the tune of a record $135 billion in pay and benefits last year. What's next? Taxpayer-funded massages for every Wall Street executive guilty of fraud?
Read more: Why Isn't Wall Street in Jail? | Politics News | Rolling Stone
Follow us: @rollingstone on Twitter | RollingStone on Facebook
There are even a few names in the article; Dick Fuld at Lehman and Lloyd Blankenfein.
The SEC is staffed with former Wall street exectives. It is a revolving door. The SEC went out if its way to NOT prosecute. Obama drew big bucks from Wall street.
I take it that you are fine that the Justice Department under Obama is going about creating a class of citizens that are to big and "important" to prosecute.
Are we a nation of laws or not? Why are you all for getting ripped off and the ones doing the stealing are getting protected and even paid big bonuese for their theft?
How does that make you feel better about our banking industry?
Can you say "plutocracy"?
I'm not playing your game or jumping through hoops for you..
think what ever blows your skirt up
There's no jumping through hoops..it's a simple question.
Because you don't seem to know what communism means. I'd like to get your take on it.
Unless it's just a word you throw out there to insult people you don't like.
Then, it's meaningless. You could be calling Warren a dirty diaper head.
And I don't wear skirts, Stephy. You should know that by now.
repeat, do I care what you think?
now go back to crowing about the fake Indian, commie
There's no jumping through hoops..it's a simple question.
Because you don't seem to know what communism means. I'd like to get your take on it.
Unless it's just a word you throw out there to insult people you don't like.
Then, it's meaningless. You could be calling Warren a dirty diaper head.
And I don't wear skirts, Stephy. You should know that by now.
repeat, do I care what you think?
now go back to crowing about the fake Indian, commie
Okay you, HEATHEN!
As for Elizabeth Warren, she hates rich people. She gave a "you didn't build that" speech identical to Obama's.
Elizabeth Warren's Aggressive Questioning Prompts Anger From Wall Street
POLITICO Morning Money - POLITICO.comSen. Elizabeth Warren's (D-Mass.) meeting with bank regulators Thursday left bankers reeling, after the politician questioned why regulators had not prosecuted a bank since the financial crisis.
At one point, Warren asked why big banks' book value was lower, when most corporations trade above book value, saying there could be only two reasons for it.
"One would be because nobody believes that the banks' books are honest. Second, would be that nobody believes that the banks are really manageable. That is, if they are too complex either for their own institutions to manage them or for the regulators to manage them," she said.
SHES BACK! WARREN TERRIFIES BANKERS IN FIRST HEARING Sen. Elizabeth Warren (D-Mass.) generated serious fireworks in her first big Senate Banking Committee hearing, asking tough questions of regulators, repeatedly peppering them to identify the last time they brought a big Wall Street institution to trial rather than settling. There were no real answers. She also earned significant ire from bankers with her line that one reason big banks mostly trade below book value may be that nobody believes their books are honest. Most of the complaints came on background or off the record given that these bankers have to deal with Warren in the Senate for at least six years and perhaps much longer and are (apparently quite justifiably) freaked out at the prospect.
