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I have heard many times things to the effect of "Those on Wall Street created this mess and should have been held accountable and sent to prison for it" but do you really think that? As in would you really be okay with many of those that through either shady or just very irresponsible business decisions should have been rounded up and gotten several years in prison?
Should Cuomo, Clinton, and Bernake have gone first?
Serious question: Do you know what happened the decade before all the failures?
I have heard many times things to the effect of "Those on Wall Street created this mess and should have been held accountable and sent to prison for it" but do you really think that? As in would you really be okay with many of those that through either shady or just very irresponsible business decisions should have been rounded up and gotten several years in prison?
Not really. The things done were generally legal at the time, so there's no one to prosecute.
Americans are really, really stupid, and deserved the financial crisis. Given the collective response to the last one, it is clear Americans still have not learned anything, and deserve a second one.
Even more, any senator or representative that mandated that banks make these sub-prime loans and forced Fannie and Freddie to back them should spend the rest of their lives in prison.
I reckon it is a good thing then, that none of that ever happened.
"Do you think many on Wall Street should have been imprisoned for the 2008 recession? "
Apart from a couple of specific examples noted above (post #3) on what grounds should "many" people have gone to jail? Exactly what law did these "many" people violate?
I have heard many times things to the effect of "Those on Wall Street created this mess and should have been held accountable and sent to prison for it" but do you really think that? As in would you really be okay with many of those that through either shady or just very irresponsible business decisions should have been rounded up and gotten several years in prison?
Hell yeah! Instead, you make guys who were in on it like Ben Bernanke chairman of the Fed.
The only question to be answered is whether any given individual committed a crime. Many, many did and got away with it. I have a very big problem with that.
Not really. The things done were generally legal at the time, so there's no one to prosecute.
"Generally" lol, you can't even bring yourself to say they werent illegal. All sorts of illegal and fraudulent (which is also illegal) activity went on. I covered it earlier in the thread.
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Americans are really, really stupid, and deserved the financial crisis. Given the collective response to the last one, it is clear Americans still have not learned anything, and deserve a second one.
Hell yeah! Instead, you make guys who were in on it like Ben Bernanke chairman of the Fed.
He was chairman when it happened.
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The only question to be answered is whether any given individual committed a crime. Many, many did and got away with it. I have a very big problem with that.
"Do you think many on Wall Street should have been imprisoned for the 2008 recession? "
Apart from a couple of specific examples noted above (post #3) on what grounds should "many" people have gone to jail? Exactly what law did these "many" people violate?
Knowingly selling people what you knew were bad investments while representing them as solid A investments is fraud. Fraud is illegal. All of the big banks were doing this once things started going south.
"It" was happening decades before his tenure. The laws that were put in place to prevent what happened were gradually but enthusiastically being repealed by both parties equally for decades leading up to the collapse. Bad lending and other shady practices were happening before Bill Clinton took office and continued to accelerate in frequency. Ben Bernanke was an active participant in questionable practices that led directly to the collapse. Then he got the Fed job a year before the house of cards collapsed. Does not absolve him -- he made his millions off of speculative lending practices. And I don't think he did a very good job mid-crisis either.
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Then vote Bernie.
I'll start taking Bernie seriously when he actually beats Clinton for the nomination. Seems pretty unlikely at this point. It's sad because we deserve better than a choice between The Donald and the Snow Queen.
Do you think many on Wall Street should have been imprisoned for the 2008 recession?
Wall Street did not cause the 2008 Recession.
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