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Yes, it does. That's how we ended up with Obama. Remember? His Wall Street bankster top campaign contributors were known BEFORE the election and he was still elected anyway.
How can anyone learn their lesson and NOT vote for the Wall Street banksters' puppet next time if they refuse to acknowledge who the worst offenders are?
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If you want to contribute to the discussion, why not tell us how Bill Still proposes to fix the problem?
Not capable of doing your own research? That explains a lot...
On another note, this Dem gets it right on the Federal Reserve...
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“Remember the great debate we had here over the 700 billion in TARP funds?” he said on the House floor Tuesday. “There was no debate over the 7.7 trillion the Fed gave the banks.”
If you already knew the answer, why did you need to start a thread?
I think you miss the point of the thread. Is not about whether companies break the law. We have many many examples of them breaking the law, I had no idea that so many thought that it never happens. The thread was about sending the ceo's and banksters to jail when their companies break the law. Now, most of the time the company has to pay fines and nobody goes to jail. WHo takes the hit for the fines...stockholders, and if the fine is 350 million and they stand to make 600 million for breaking the law, why would they not do the very same thing again?
The only real deterrent is putting the CEO in Jail since any fine that is paid for the CEO could simply be reimbursed by the company.
If you already knew the answer, why did you need to start a thread?
Because the SEC is the agency charged with enforcing the regulations and laws imposed on the financial sector. The SEC has traditionally settled all complaints with big banks and financial houses, rather than pursuing the wrongdoers in courts. The settlements are to the advantage of the banks and financial companies, because they don't require the banks or finance companies to take accountability. This makes it harder for criminal complaints to move through the courts, as well as making it more difficult for customers who've suffered damages because of the banks' actions to file civil suits. The fines seem substantial, for instance the $268 million fine that's been discussed in this thread, but as the judge who refused to accept the settlement noted, the fines are often a drop in the bucket for the banks involved, and an acceptable cost of doing business.
Banks and insurance and finance houses should not have fines built in to their business models. It is that "culture" that many people find offensive, because it's akin to criminal organizations like the Mafia and other RICO targets that have fines and penalties built into their business models. It's a tell for corruption when businesses do this. And the SEC, in their habit of settling, have been complicit in the corruption.
The 'banksters and robber barrons' are not the first order of business.
If anyone broke the law, prosecute them. To call for punishment of nebulously labeled groups referred to as 'banksters and robber barrons' is the stuff of witch hunts and deep seated prejudice necessary to conduct class warfare.
Obama set the precedent with Geitner, who failed to pay taxes when he took pity on that poor soul and made him sec of the treasury.
It was then the treasury under Geitner that introduced a clause in Dodd's bill to ensure the AIG execs got their bonuses. Amazingly Dodd at first denied any knowledge of who and how that ended up in his bill at the very last minute.
Apparently Obama needed to ensure a focus of his class warfare strategy and finds the bankers and robber barrons convenient allies, some sacrificed as needed.
Take action first against the government assigned watchdogs who relinquished their responsibilities. If you don't fix the foundation of the problem, that is, the legislators, the problem will never go away. How can the country recover with the likes of these illuminated economic gurus?
The 'banksters and robber barrons' are not the first order of business.
If anyone broke the law, prosecute them. To call for punishment of nebulously labeled groups referred to as 'banksters and robber barrons' is the stuff of witch hunts and deep seated prejudice necessary to conduct class warfare.
Obama set the precedent with Geitner, who failed to pay taxes when he took pity on that poor soul and made him sec of the treasury.
It was then the treasury under Geitner that introduced a clause in Dodd's bill to ensure the AIG execs got their bonuses. Amazingly Dodd at first denied any knowledge of who and how that ended up in his bill at the very last minute.
Apparently Obama needed to ensure a focus of his class warfare strategy and finds the bankers and robber barrons convenient allies, some sacrificed as needed.
Take action first against the government assigned watchdogs who relinquished their responsibilities. If you don't fix the foundation of the problem, that is, the legislators, the problem will never go away. How can the country recover with the likes of these illuminated economic gurus?
The 'banksters and robber barrons' are not the first order of business.
Well I disagree with putting all of the problems with the crooks and liars on wall street at the feet of one person...Obama. I think Obama could be suspected of collusion because of the amount of campaign contributions that he took from the financial industry in 2008. However, he is not the first and certainly will not be the last. Romney seems to be the campaign leader in financial sector contributions this time around.
Sure the legislature should enact tough legislation and the executive branch should do a much better job of enforcing it by not just fining these companies but by putting a few key executives in jail.
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The 'banksters and robber barrons' are not the first order of business.
