"When was the last time you took a Wall Street bank to trial?"

[Truthseeker420]

When's the last time a US Senator was brought to trial?

Good question...what offenses do you have to present?

See...I don't give a damn WHO does the wrong-doing, as long as they are brought to justice.

At least with the Senators, they can be voted out, and often are.

Now what's your thoughts on the transgressions of The Big Wall Street Banks?

Hmmmmmm!?!??

Well when they fuck up like Bear Stearns and Lehmann they go broke; how did F&F do?

Broke? Their CEO's made billions in bonuses.

 

[Bill Angel]

Some plaintiffs are utilizing RICO to pursue alleged malfeasance by large financial institutions.
See What the Barclays Settlement Means for Other Banks - NYTimes.com

One benefit of pursuing a RICO case is that it allows a plaintiff to bring together a number of companies as defendants under the umbrella of a RICO “enterprise,” which can be shown as an “association in fact” through which different banks acted together without any formal organization. If found to be part of such an enterprise, then each participant can be held liable for the entire amount of damages suffered by the plaintiffs. RICO can be a powerful lever to extract a settlement because of the risk of a crippling damages award if the case goes to a jury. In February 2012, Charles Schwab & Company filed an antitrust and RICO lawsuit against the banks contributing to Libor, claiming that they set the benchmark interest rate at an artificially low level. More lawsuits like this can be expected in the next few months as lawyers start circling the banks involved with setting Libor, cases that will receive a significant boost from the Justice Department if more settlements are announced.

Making a Statement on "Black Friday" (Use RICO For Bank Fraud)

 

[CrusaderFrank]

Good question...what offenses do you have to present?

See...I don't give a damn WHO does the wrong-doing, as long as they are brought to justice.

At least with the Senators, they can be voted out, and often are.

Now what's your thoughts on the transgressions of The Big Wall Street Banks?

Hmmmmmm!?!??

Well when they fuck up like Bear Stearns and Lehmann they go broke; how did F&F do?

We're not talking about simply "effing up" here, we're talking about wrong doing.

What, in your opinion, did F&F do wrong/egregious?

Also, do you believe that ANY Wall Street Bank ever did anything wrong or egregious?

Wrong doing?

Arming a Mexican drug gang?

Lying about the Benghazi attack?

Calling Romney a felon?

Claiming to be an American Indian?

That kind of wrongdoing?

They should tell Liz to Shut the Fuck Up, and not subtly either

 

[MarcATL]

I would ask you the same thing about wall street. What offenses do you have to present? For all of the screaming and accusations, I haven't heard of any actually charges that can be levied against wall street. I would love it if there easily identified charges, but I doubt it's that easy.

Let's start with selling the public financial items that they knew were not sound.

Let's start with that investigation.

Shall we?

Your turn...

Of course we should start with investigating. But will we? After Warrens show, will anything happen? I'm sorry, but I have zero faith in Washington to do a damn thing about wall street.

And back to my other point, what can we charge them with? I actually am curious.

Why do you call what's she's doing a show?

It seems like you're in support of what she's TRYING to do.

So why don't you just simply express your support of what she's doing?

 

[MarcATL]

Well when they fuck up like Bear Stearns and Lehmann they go broke; how did F&F do?

We're not talking about simply "effing up" here, we're talking about wrong doing.

What, in your opinion, did F&F do wrong/egregious?

Also, do you believe that ANY Wall Street Bank ever did anything wrong or egregious?

Wrong doing?

Arming a Mexican drug gang?

Lying about the Benghazi attack?

Calling Romney a felon?

Claiming to be an American Indian?

That kind of wrongdoing?

They should tell Liz to Shut the Fuck Up, and not subtly either

Why are you changing the subject?

First you were talking about F&F, now you're throwing Ben-Gah-Zee into the mix.

Why?

And why should "Liz" shut the eff up? Do you disagree with what she's attempting to do?

 

[yidnar]

That's all SENATOR Elizabeth Warren had to ask to get the point across. And now I hear that the Wall Street Banksters are angry.

Warren to regulators: When was the last time you took a Wall Street bank to trial?

Why? Because FINALLY someone putting your foot to the fire? FINALLY someone is out to get LEGITITAMATE accountability?

She wasn't angry, she wasn't screaming, she didn't have a scowl on her face, she didn't have any of that, as you see from just about every other questioning from Senate (e.g. Benghazi, Obama's appointments, etc.), she just cooly, calmly, but firmly kept repeating the question...."Tell me about the last time you took A Big Wall Street Bank to trial." And the place is up in arms.

Elizabeth Warren presses financial regulators: Why no trials for Wall Street?

What does that tell you?

Well it tells me that A. Elizabeth Warren is doing her damn job, which is what I expected. B. There's been no accountability up to now. C. The Wall Street Banks do NOT want to be accountable for their actions and D. The American People are finally getting some much-needed light and insight on the WSB shenanigans and practices.

This is a BIG WIN for The American People, just like I expected it will.

Heads will roll, as they should.

What say you?

i am taking wall street to court next week !! the price of beef has doubled and i don't own one damn cow !!

 

[Vast LWC]

OK, let me ask you all this:

Why is this a tit-for-tat conversation where Fannie and Freddie are concerned?

Why would holding one accountable stop the other from being held accountable?

I would think that bringing banks to trial would bring MORE information to light about who was responsible for what, not less.

So, in response to "Why haven't any banks been bought to trial?"...

Why the hell would your answer be phrased in a way that implies Fanny and Freddie should be bought to trial instead, rather than agreeing, and then stating F&F should ALSO be bought to trial?

Seems to me that all of this would be working toward the same goal: Bringing the people responsible to justice.

 

[Vast LWC]

i am taking wall street to court next week !! the price of beef has doubled and i don't own one damn cow !!

What the hell does that have to do with bringing specific institutions to trial for specific criminal acts?

 

[Vast LWC]

Wrong doing?
Arming a Mexican drug gang?
Lying about the Benghazi attack?
Calling Romney a felon?
Claiming to be an American Indian?
That kind of wrongdoing?
They should tell Liz to Shut the Fuck Up, and not subtly either

WTF does any of this have to do with bringing large financial institutions to trial in cases of criminal wrongdoing?

You need to stop with the "Us vs. them" mentality. This issue has NOTHING to do with partisanship.

It has to do with bringing criminals to trial.

When did the right-wing start getting soft on crime?

 

[Wacky Quacky]

Let's start with selling the public financial items that they knew were not sound.

Let's start with that investigation.

Shall we?

Your turn...

Of course we should start with investigating. But will we? After Warrens show, will anything happen? I'm sorry, but I have zero faith in Washington to do a damn thing about wall street.

And back to my other point, what can we charge them with? I actually am curious.

Why do you call what's she's doing a show?

It seems like you're in support of what she's TRYING to do.

So why don't you just simply express your support of what she's doing?

I've become extremely jaded to politics. They can talk about something till they're blue in the face, but until some action is taken I'll just discount it as more political theater.

 

[g5000]

I would ask you the same thing about wall street. What offenses do you have to present? For all of the screaming and accusations, I haven't heard of any actually charges that can be levied against wall street. I would love it if there easily identified charges, but I doubt it's that easy.

What fraud, you ask? Seriously? Have you been asleep?

It is actually very easy to see it if you really want to open your eyes and look! The evidence of their fraud is well known.

A few samples:

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.

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



None of these people went to prison. Not one. They got off with a lunch money fine. Fines that were less than the profits they made off their frauds.

This incentivizes further fraud.

And there was the manipulation of the LIBOR which affects trillions of dollars of derivatives trading and mortgage rates around the entire planet.

 

[g5000]

Some plaintiffs are utilizing RICO to pursue alleged malfeasance by large financial institutions.
See What the Barclays Settlement Means for Other Banks - NYTimes.com

One benefit of pursuing a RICO case is that it allows a plaintiff to bring together a number of companies as defendants under the umbrella of a RICO “enterprise,” which can be shown as an “association in fact” through which different banks acted together without any formal organization. If found to be part of such an enterprise, then each participant can be held liable for the entire amount of damages suffered by the plaintiffs. RICO can be a powerful lever to extract a settlement because of the risk of a crippling damages award if the case goes to a jury. In February 2012, Charles Schwab & Company filed an antitrust and RICO lawsuit against the banks contributing to Libor, claiming that they set the benchmark interest rate at an artificially low level. More lawsuits like this can be expected in the next few months as lawyers start circling the banks involved with setting Libor, cases that will receive a significant boost from the Justice Department if more settlements are announced.

Making a Statement on "Black Friday" (Use RICO For Bank Fraud)

I actually agree with this tactic. Wall Street committed organized crime and they should be prosecuted under the RICO Act.

 

[Wacky Quacky]

I would ask you the same thing about wall street. What offenses do you have to present? For all of the screaming and accusations, I haven't heard of any actually charges that can be levied against wall street. I would love it if there easily identified charges, but I doubt it's that easy.

It is actually very easy if you really want to open your eyes and look! The evidence of their fraud is well known.

A few samples:

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.

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



None of these people went to prison. Not one. They got off with a lunch money fine. Fines that were less than the profits they made off their frauds.


Your turn!

Thank you. I wasn't defending Wall Street. It's just that I haven't heard about any actual charges that could be brought against them in relation to the recession. I've heard a lot of people screaming how much they hate them, but not what laws they broke.

Thank you for the info.

 

[g5000]

I would ask you the same thing about wall street. What offenses do you have to present? For all of the screaming and accusations, I haven't heard of any actually charges that can be levied against wall street. I would love it if there easily identified charges, but I doubt it's that easy.

It is actually very easy if you really want to open your eyes and look! The evidence of their fraud is well known.

A few samples:

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.

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



None of these people went to prison. Not one. They got off with a lunch money fine. Fines that were less than the profits they made off their frauds.


Your turn!

Thank you. I wasn't defending Wall Street. It's just that I haven't heard about any actual charges that could be brought against in relation to the recession. I've heard a lot of people screaming how much they hate them, but not what laws they broke.

Thank you for the info.

I see a lot of people clamping their hands over their eyes and ears denying any fraud was committed. You have to either have been asleep for the past five years or willfully blinding yourself not to know what fraud has been committed.

I added the LIBOR scandal to that post while you were replying to it. That's one that affects trillions of dollars of derivatives trading and mortgage rates around the planet. Manipulating the LIBOR while entering into a derivatives trade with a client which is pegged to LIBOR is outright robbery.

 

[g5000]

The crooks have police protection while they are stealing from you. They stole from your 401k, they stole from your insurance company, they stole from your public employee pension fund, they stole from your city treasurer, they stole from your university's endowment fund, they stole from you in countless imaginative ways.

A thief is coming into your home, stealing your goods, and when he is occasionally caught, he pays a $25 fine and gets to keep your stuff.

It is way past time to get angry, people. Stop acting like an abused spouse excusing your abuser.

It is time to start hanging these crooks from lamp posts.

 

[g5000]

When will we prosecute the Ringleaders: Fannie & Freddie?

Ringleaders, my ass. This was a global crime ring. Fannie and Freddie were followers, not leaders. This is about far, far more than just mortgages. Only someone with extremely narrow eyesight would think it was. This involves every asset class in the world. How do you think Greece got all that money? Grew it?

 

[manifold]

Good on ya Lizzy!

This is why we put you there.

 

[g5000]

Good on ya Lizzy!

This is why we put you there.

Elizabeth Warren is a class warrior. A person who hates rich people should not be guarding our capitalist system. She is absolutely the wrong choice for the job.

 

[MarcATL]

Of course we should start with investigating. But will we? After Warrens show, will anything happen? I'm sorry, but I have zero faith in Washington to do a damn thing about wall street.

And back to my other point, what can we charge them with? I actually am curious.

Why do you call what's she's doing a show?

It seems like you're in support of what she's TRYING to do.

So why don't you just simply express your support of what she's doing?

I've become extremely jaded to politics. They can talk about something till they're blue in the face, but until some action is taken I'll just discount it as more political theater.

I'm sorry, but that's pretty much a standard cop-out.

We're all on a forum to express our feelings and concerns about everything under the sun related and remotely related to US politics.

Politicians conduct 90% of their business based on rhetoric, aka talking.

We have to talk to communicate.

What you're saying doesn't really add or take away anything from the mix.

It's simply a way to have some faux-opposition to something you know you should be supporting, but don't really want to because the person involved is someone you feel you should be against because of the political party she is in.

Why don't you just admit it?

 

[g5000]

The Untouchables | FRONTLINE | PBS

FRONTLINE investigates why Wall Street’s leaders have escaped prosecution for any fraud related to the sale of bad mortgages.