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....or in the case of some trying to pin the whole thing on Obama purely out of politics.
Why shouldn't Obama take a hefty portion of the blame? Wasn't he elected on his "Hope and Change" promise?
A lot of lefties and independents were duped by Obama. He was in it for himself and his bankster buddies, not his promised "Hope and Change." That's more than apparent, now. Even Rolling Stone and Matt Taibbi get that.
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The politicians enabled the banks to take risks by removing checks and balances. In exchange they got political contributions aka bribes and also got to juice the economy via private debt instead of real growth.
Yep.
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The US citizens are also to blame....whom speculated on housing and spent way beyond thier means.
They're entitled to all that, don't you know. They firmly believe they deserve to have it all.
We are entitled to truth. I am an excellent money manager. I have no issue except that all career politicos should be voted out. Real estate market now will be in the dumpster for a decade, and I will love some retribution.
The American public who watches linktv.com and has a brain will NOT be forgiving of investment bank fraud...their names have been tarnished for good with clear malfeasance and negligence. "In bad faith" in the law, is just as bad as any outright fraud.
Visit zogbypoll.com, Americans are fed up with banks and fraud. Corporations pay a hefty price, they are not "easily foriven" .
We are entitled to truth. I am an excellent money manager. I have no issue except that all career politicos should be voted out. Real estate market now will be in the dumpster for a decade, and I will love some retribution.
The American public who watches linktv.com and has a brain will NOT be forgiving of investment bank fraud...their names have been tarnished for good with clear malfeasance and negligence. "In bad faith" in the law, is just as bad as any outright fraud.
Visit zogbypoll.com, Americans are fed up with banks and fraud. Corporations pay a hefty price, they are not "easily foriven" .
Blame the Clinton administration for repealing Glass-Steagall.
Hotair2, as usual you seem to have targeted a portion of the problem but refuse to address the aid given to guys like this by the politicians. Now certainly, if Bush were it office you'd be railing about Bush and the Banks.
Ever heard of Corzine?
Just pointing out that a whole bunch of people are refusing to assign any blame to other parties to this debacle out of pure politics....or in the case of some trying to pin the whole thing on Obama purely out of politics.
The politicians enabledhe banks to take risks by removing checks and balances. In exchange they got political contributions aka bribes and also got to juice the economy via private debt instead of real growth. The US citizens area also to blame....whom speculated on housing and spent way beyond thier means. It's a shame we have people that can't grasp or even admit to the basic facts because their party is always right and the other party is always wrong.
(Clinton and Bush II prime examples).
Not true. I have no problem assigning blame with both parties. I disagree with your chronology of events. The banks and large corporations make the contributions first, and then the politicians reward them.
I would agree that is the public's fault, but I don't have an answer to the problem as the only politicians that we actually get to vote for are the ones that have already taken the big campaign contributions.
I remember this guy testifying about the Maddoff case in front of congress. He said that he could to take the SEC to a Washington Nationals baseball game and watch nine innings and they would be unable to identify first base. In other words they are clueless, considering this guy made a couple of attempts to reign in Bernie a few years before he was busted.
Then you might recall this story about the SEC :
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Several of employees held senior positions, earning between $99,300 and $222,418 per year, the inspector general's summary said. Three of the incidents occurred this year, ten in 2009, 16 in 2008, two in 2007 and one each in 2006 and 2005.
In one instance, a regional office staff account admitted viewing pornography on his office computer and on his SEC-issued laptop while on official government travel. Another staff account received nearly 1,800 access denials for pornography Web sites in a two-week period and had more than 600 images saved on her laptop’s hard drive, the report said.
Personally, I dont blame the public. 160,000 foreclosures in Ft Meyers Florida area alone...thats egregious, and destructive negligence. Banks caused this, let them eat up their karma now. Fort Meyers looks like a war zone now, as do parts of upscale Miami/Bay Harbor Islands.
I remember this guy testifying about the Maddoff case in front of congress. He said that he could to take the SEC to a Washington Nationals baseball game and watch nine innings and they would be unable to identify first base. In other words they are clueless, considering this guy made a couple of attempts to reign in Bernie a few years before he was busted.
Then you might recall this story about the SEC :
Hey lets give the SEC guys a break trying to find fraud was interrupting their porn viewing.
But I want to say the same thing to Hotair, OWS should be protesting in D.C.
I am not saying the regulatory police are doing a good job; however, that does not absolve the criminals. If a man robs a bank, do you blame the police for not catching him without blaming the person who actually robbed the bank? We seem to be giving the criminal a pass and focusing on the regulators. I agree we should be doing more to catch the criminals. That is the whole point of the thread, but lets not forget who the criminals are and let them off the hook.
You think so huh?
You think it is ALLLLLL about obama huh? Not so fast... it's not this President they will swoon over who ever they think will save their hides.
Actually, you've twisted it around. The complaint is with Wall Street, in this case Citigroup. That would be why the SEC forged a settlement with them where CITIGROUP agreed to pay a $285 million fine. Who passed off toxic debt without full disclosure? Citigroup.
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So you are essentially saying the Dept of Justice didn't do it's job, but that's OK because they have been bribed by bankers?
I think you have it backwards. The only role of Dept of Justice is to enforce the laws and prosecute criminals. I hold them to a much higher standard than business owners.
When business owners commit a crime, we have government to prosecute them. When government fails to do it's job, we have NOWHERE to turn... other than a revolution to replace government. Government crimes and failures are worse than business crimes and failures by an order of magnitude.
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That's more than apparent, now. Even Rolling Stone and Matt Taibbi get that. 
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