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Old 06-19-2013, 01:37 PM
 
Location: Where they serve real ale.
7,242 posts, read 7,287,916 times
Reputation: 3497

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They're right too. The problem is the law doesn't apply to too big to fail banks; they're incentivized to take massive risks because if the risks pay off then they get massive bonuses but if the risks go bad it is the tax payers who foot the bill. So far there has been no meaningful reform in the US, just minor window dressing which doesn't address the issues of substance, but now it appears the UK will take some major steps forward even if the US political system remains too corrupt, too controlled by big money, to do anything at all.

I for one applaud the British government and am envious that my own country's political system remains hopeless corrupt and broken.

BBC News - Jail reckless bankers, standards commission urges
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Old 06-19-2013, 04:46 PM
 
Location: Philadelphia
12,001 posts, read 11,650,502 times
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Good for the UK. Banksters in the US take note-we're coming for you.
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Old 06-19-2013, 09:17 PM
 
Location: Beautiful Niagara Falls ON.
10,018 posts, read 11,620,870 times
Reputation: 8982
Quote:
Originally Posted by 2e1m5a View Post
Good for the UK. Banksters in the US take note-we're coming for you.
And refund are of their ill gotten gains to the folks who lost everything because of them.
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Old 06-19-2013, 09:21 PM
 
2,117 posts, read 1,733,135 times
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"British Banking Commission: Jail bankers."

"Banking executives cannot be jailed because of the economic fallout thereafter". - Eric Holder (paraphrased, of course)
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Old 06-19-2013, 09:31 PM
 
48,507 posts, read 90,647,657 times
Reputation: 18204
Do you really think they are going to do it? UK has pretty much depended on banking center of Europe for about 40% of their economy. Just spin for the maddening crowd so they don't look closely at what the real problems are like everywhere. Government taking more and more out of the private sector that cost jobs there. What is the excuse of not enforcing fraud laws already in place for decades?
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Old 06-19-2013, 09:37 PM
 
9,987 posts, read 6,344,985 times
Reputation: 4405
Quote:
Originally Posted by Think4Yourself View Post
They're right too. The problem is the law doesn't apply to too big to fail banks; they're incentivized to take massive risks because if the risks pay off then they get massive bonuses but if the risks go bad it is the tax payers who foot the bill. So far there has been no meaningful reform in the US, just minor window dressing which doesn't address the issues of substance, but now it appears the UK will take some major steps forward even if the US political system remains too corrupt, too controlled by big money, to do anything at all.

I for one applaud the British government and am envious that my own country's political system remains hopeless corrupt and broken.

BBC News - Jail reckless bankers, standards commission urges
The Banking Cartel behind all of this criminality and looting of the world economy are British based!!! That's who was behind the creation of the Federal Reserve, and the 16th Amendment both of which occurred in 1913. The Rothschild Group who OWN the United Kingdom are the gangsters that need to be drug out into the streets and tarred and feathered .... they are the "behind the curtain" controllers of the Federal Reserve, Wall Street, the Bank of England, the World Bank, the IMF, the BIS, and all of it's vast tentacles which engulf the financial operations worldwide.

Applaud the British Government? Ha!! That's a laugh ... they ought to be hung, along with their agents who run our government.
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Old 06-19-2013, 09:42 PM
 
25,058 posts, read 25,607,167 times
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Quote:
Originally Posted by lucknow View Post
And refund are of their ill gotten gains to the folks who lost everything because of them.
Tax them until it hurts. Tax their tax-free Wall St. transactions and derivatives
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Old 06-19-2013, 10:01 PM
 
29,409 posts, read 20,499,321 times
Reputation: 5445
Quote:
Originally Posted by Think4Yourself View Post
They're right too. The problem is the law doesn't apply to too big to fail banks; they're incentivized to take massive risks because if the risks pay off then they get massive bonuses but if the risks go bad it is the tax payers who foot the bill. So far there has been no meaningful reform in the US, just minor window dressing which doesn't address the issues of substance, but now it appears the UK will take some major steps forward even if the US political system remains too corrupt, too controlled by big money, to do anything at all.

I for one applaud the British government and am envious that my own country's political system remains hopeless corrupt and broken.

BBC News - Jail reckless bankers, standards commission urges
Saying it and doing it are two different things.
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Old 06-20-2013, 05:36 AM
 
79,631 posts, read 39,320,663 times
Reputation: 16366
Quote:
Originally Posted by theunbrainwashed View Post
Tax them until it hurts. Tax their tax-free Wall St. transactions and derivatives
All this will do is cause them to pass this on to their customers. I find it somewhat humorous how upset people get over this but they refuse to hold the government accountable in addressing all of this.

Many of these banks ran afoul of Sarbanes/Oxley but Holder comes out and states that the government can't hold the bankers accountable because it might harm the economy.

B.S. The economy could care not one bit if Blankfein or Mozilo was in prison. IMO it would have actually put some trust back into the markets which would do just the opposite.

So the government allows the bankers to do as they please with no repercussions and the answer is to make the people on the street pay for it all?

"Tax them" seems to be the answer from so many without actually giving any thought to it. Accountability is the answer concerning both the banks and the government but accountability seems to be a foreign concept to many. The laws do indeed apply to the "too big to fail banks". They simple are not being enforced.
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Old 06-20-2013, 05:37 AM
 
11,087 posts, read 7,797,153 times
Reputation: 6389
Start the prosecutions.

Oh wait, O doesn't want to prosecute bankers.
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