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Now that's what you call a swindle. Why anyone would defend these banks is a mystery.
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Less than a year before the 2008 collapse of Lehman Bros. plunged the global economy into a terrifying free fall, the Wall Street firm awarded nearly $700 million to 50 of its highest-paid employees, according to internal documents reviewed by The Times.
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What followed was what many have called the “perfect storm” of economic distress factors and eventually a $700bn bailout package (Troubled Asset Relief Program) prepared by Henry Paulson, Secretary of the Treasury, and approved by Congress.
IIRC, Eric Holder and Lanny Breuer worked for the law firm which actually did defend these banks. Why do you think there have been no convictions of any of the big fish involved in the "too big to fail" banks? Why do you think fmr. Goldman Sachs guy (also fmr. Democrat Gov, of NJ) and current Obama donor/bundler Jon Corzine still walks about free? So much for "justice" in Obama's Department of Justice, eh?
IIRC, Eric Holder and Lanny Breuer worked for the law firm which actually did defend these banks. Why do you think there have been no convictions of any of the big fish involved in the "too big to fail" banks? Why do you think fmr. Goldman Sachs guy (also fmr. Democrat Gov, of NJ) and current Obama donor/bundler Jon Corzine still walks about free? So much for "justice" in Obama's Department of Justice, eh?
Because anytime someone criticizes the banks, right wingers accuse critics of being commies who want to destroy America
Last edited by CaseyB; 04-28-2012 at 04:15 AM..
Reason: off topic
Do you think anyone at Lehman or any other bank for that matter, knew the housing collapse was coming? Both Lehman and Bear Sterns failed over night, when runmors swirled.
Last edited by CaseyB; 04-28-2012 at 12:21 PM..
Reason: off topic
Wow, speaking of clueless. Do you think anyone at Lehman or any other bank for that matter, knew the housing collapse was coming? Both Lehman and Bear Sterns failed over night, when runmors swirled.
Well, there sure were a lot of people who WEREN'T millionaires that saw it coming.
My curiosity is why the OP appears to be upset with Lehman Bros.? Afterall, Lehman didn't get a bailout of any kind. Its assets were seized by the feds and auctioned off.
Be angry about corporations who did get bailouts .........like Government Motors, Freddie MAC, BAC, Government Sachs, etc......
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Originally Posted by austiNati
Well, there sure were a lot of people who WEREN'T millionaires that saw it coming.
Neither Obama nor Romney saw it coming; although, Ron Paul did.
Last edited by CaseyB; 04-28-2012 at 04:25 AM..
Reason: off topic
Well, there sure were a lot of people who WEREN'T millionaires that saw it coming.
What's your point? In any event, I think you may be hard pressed to prove your point. But it still doesn't negate the fact that neither Lehman, the rest of Wall Street, the Fed, the SEC or pretty much anyone in a position to do anything about it, saw it coming.
What's your point? In any event, I think you may be hard pressed to prove your point. But it still doesn't negate the fact that neither Lehman, the rest of Wall Street, the Fed, the SEC or pretty much anyone in a position to do anything about it, saw it coming.
LOL, you're kidding right? These people do this for a living and make a lot of money when and directly after the market crashes. "Too Big to Fail" Banks consolidate and gain a greater control of the market. You really don't give enough credit. The SEC is corrupt and would never get in the way of Wall Street or The Fed.
Now that's what you call a swindle. Why anyone would defend these banks is a mystery.
IMO no papers during bankruptcy shows this happened so the court can take action. I could be wrong, but maybe there needs to be a review of pay/compensation to anywhere for at least a year by a court so the court can confiscate the money back into the bankruptcy for creditors
Yeah, you attract great talent with great money, but if the company goes down, their promises of that pay should go down, just as it should be for government Union pensions or unions like GM that were bailed out and stolen from the stock holders.
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