PredFan
Diamond Member
Obama is playing you guys for suckers and getting you to blame everything on Wall Street.
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The investors that were ripped off by all Street were...you. Your idiot 401k manager was suckered into buying these securities. The guy managing your retirement money doesn't know shit. He's thinks proximity to money equals intelligence, but all he really knows or cares about are the box seat tickets and hookers and blow his buddies on Wall Street give him in return for him giving all your money to them to buy fraudulent securites.
The CDO mentioned in the opening post was constructed by Brian H. Stoker at Citibank. This fraudulent Class V Funding III CDO-squared ripped off investors (you) for over $700 million.
That's your money. Their hands are in YOUR pockets, stealing from YOU. Wake up!
Stoker is a free man. This was a clear act of fraud, proven in court, and he is not going to jail for it. Instead, his company is paying a fine that is a small fraction of what the investors lost.
Stoker will be golfing in the Bahamas, paying for the trip with the money he stole from you, while you are back here defending him. BWA-HA-HA!
Those of you who tell people on this forum that if they have a 401K they should be on the side of Wall Street are suckers. You are feeding these thieves. You are a rube.
Every synthetic CDO sold to investors (you) in this past decade were acts of fraud.
More crimes that were documented cases of fraud in which no one went to jail and a minor fine was levied:
Daniel Sparks and Tom Montag: Goldman Sachs. Constructed the fraudulent Timberwolf billion dollar toxic mortgage security and sold it to investors (you), then profited by betting against it. Deliberately stuffed the security with mortgages they knew were toxic so they could be on its failure while also profiting from its sale it to investors (you).
Fabrice Tourre: Goldman Sachs. Constructed the fraudulent Abacus 2007-ac1 CDO for which Goldman Sachs was fined but no one went to prison. Tourre allowed hedge fund manager John Paulson to select the toxic mortgages to be placed in the CDO so Goldman Sachs and Paulson could bet against the investors (you).
Angelo Mozillo: Countrywide CEO. This guy and his financial officers committed the exact same kind of crime the Enron CEO and financial officers did, and yet he walks free. Mozillo kept telling investors (you) that Countrywide was "consitently producing quality mortgages" while his internal memos show that he was well aware his company was creating the most toxic mortgages on the planet. The SEC originally demanded a jury trial for Mozillo, but he ultimately walked away with a fine and no admission of wrongdoing. This guy is the scummiest of the scum.
Unless you are trading on your own account, your money is being skimmed by these kinds of criminals. And they are getting away with it. And when their shit blows up in their faces, your taxes cover their losses. Their casino feeds you just enough pathetic returns to keep you coming back for more punishment.
I make more money on a single trade than you make in three months on the same amount of money in any 401K.
So go ahead, keep defending them and handing over your money to them.
Until public demand that Wall Street be cleaned up increases to the point of intolerabilty for politicians in Wall Street's pocket, you will be spending every day of your life as a sucker.
You got it bass-ackward lefties as usual. Wall Street keeps our pensions solvent. What is the federal government doing for us besides confiscating money? Find Barney Frank who is on his honeymoon with his new husband and ask him why the chairman of the banking committee who had oversight responsibility for Fannie Mae told us Fannie was doing fine when it was on the verge of collapse. Trust Wall Street or the fools who couldn't even run a post office without stealing stamps?
How moronic. Wall St aren't playing us for suckers. Washington is. But please don't let reality ruin your fantasy..... oh, wait, it's not your fantasy... all you do is regurgitate the opinions of others.
Wall Street is where people go to make money off of the bets other people make with money. Risk? Investments carry risks. One sure way to make loads of money is to do what Wall Street has done for the last 20 years. Rig the game and then ask to be bailed out because they asked to be allowed to become too big to fail.
gawd, you're moronic to the 10th power.
All corruption needs to be gone after and cleaned up, and this no matter where it is or who is responsible for it, but people want it only one way and not the other, but I say go for it all...Former democrat senator and NJ governor Jon Corzine is the symbol of what people hate about investment criminals but the left wing media can't bring themselves to investigate his loss of billions of investment dollars. The feds won't touch him because he is an influential democrat and could probably bring down some crooked politicians. Go after Jon Corzine lefties. Go after the crooks who should have been regulating Corzine's criminal operation. Focus on the criminal enterprise in the federal government and uncover the mess that caused Fannie Mae instead of attacking a soft target like Wall Street. Why not? It ain't about criminals and finance reform. It's about bringing down the capitalist system.
How moronic. Wall St aren't playing us for suckers. Washington is. But please don't let reality ruin your fantasy..... oh, wait, it's not your fantasy... all you do is regurgitate the opinions of others.
How moronic. Wall St aren't playing us for suckers. Washington is. But please don't let reality ruin your fantasy..... oh, wait, it's not your fantasy... all you do is regurgitate the opinions of others.
Former democrat senator and NJ governor Jon Corzine is the symbol of what people hate about investment criminals but the left wing media can't bring themselves to investigate his loss of billions of investment dollars. The feds won't touch him because he is an influential democrat and could probably bring down some crooked politicians. Go after Jon Corzine lefties. Go after the crooks who should have been regulating Corzine's criminal operation. Focus on the criminal enterprise in the federal government and uncover the mess that caused Fannie Mae instead of attacking a soft target like Wall Street. Why not? It ain't about criminals and finance reform. It's about bringing down the capitalist system.
The crooks on Wall Street are bringing down the capitalist system without any help from "socialists" whatsoever.
It wasn't "socialists" who crashed the entire Free World's economies and threw 10 percent of our country's people out of work.
It was the Democratic and Republican parties, ratings agencies, mortgage brokers, banks, broker dealers, irresponsible borrowers, the secondary market, investors, and deregulation. The only socialism going on was socialized losses placed on the taxpayers while the private profiteers who robbed all of us took off into the blue sky in their private jets.
It is time to wake up to where the real danger to capitalism lies. It ain't to your left, it is right next to you.
That to.....So yes of course blame gooberment as well, we get that, but wall street is in no way innocent or less guilty either..I guess it's easier for the ignorant to blame "wall street" these days. Especially when the crooked administration that caused the problem encourages the the anger. Wall Street ain't your problem you fools. Crooked politicians are. Find Barney Frank who had oversight responsibility for Fannie Mae when he was chairperson of the House banking committee (he is on his honeymoon with his new husband) and ask him why he told America that Fannie was doing fine when it was on the verge of collapse. Crooked politicians watched people like Frank Raines, who is Obama's financial adviser, cook the books to show a fake profit tied to his bonus money while he was CEO of Fannie Mae and walk away with 90 Million dollars for three years work. Fannie Mae bundled bad loans with good loans and sold them back to lending institutions as good loans. Fools and socialists blame Wall Street when they should be looking at the people in government who had the power and made the laws and set the rules and raked in the profits.
If you trust Wall Street and the bankers then you are really naive.How moronic. Wall St aren't playing us for suckers. Washington is. But please don't let reality ruin your fantasy..... oh, wait, it's not your fantasy... all you do is regurgitate the opinions of others.