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Old 10-01-2008, 12:33 PM
 
27,623 posts, read 19,512,382 times
Reputation: 11076

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I personally do not believe that any of these greedy pigs will ever have to pay in any way for what they have brought down upon the citizens of this country.

I have lost all faith in the justice system and how it has been corrupted. Our Constitution has been stomped on. How is it possible that this criminal administration has gotten way with the past eight years of blatant criminal activity? Not one month has gone by without a slap in the face to American people.

What constitutes TREASON??????
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Old 10-01-2008, 12:37 PM
 
Location: Beautiful East TN!!
7,280 posts, read 20,066,093 times
Reputation: 2774
No one will get blamed and pay for the mistakes unless the buck can be passed down to a little guy to take the fall.
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Old 10-01-2008, 01:30 PM
 
Location: South Bay
7,192 posts, read 20,674,172 times
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who do you mean when you say perpetrators? there was more than one group who brought this on. Sure, big bad corporate America had something to do with tit, but also the government, no to mention the borrowers who bought more home than they could afford. Then there are the appraisers and brokers, real estate agents, the list goes on an on.
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Old 10-01-2008, 01:53 PM
 
Location: London UK & Florida USA
7,923 posts, read 8,375,377 times
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There will be a few "scapegoats" that will be thrown to the Lions. The real culprits will be OK and probably will be put in positions to control the system once again.
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Old 10-01-2008, 01:56 PM
 
Location: Pinal County, Arizona
25,107 posts, read 37,208,569 times
Reputation: 4924
What bank fraud are you talking about?
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Old 10-01-2008, 02:05 PM
 
27,623 posts, read 19,512,382 times
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Quote:
Originally Posted by Greatday View Post
What bank fraud are you talking about?
Are we getting into semantics here?
Mortgage Bank Fraud - fit better?
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Old 10-01-2008, 02:13 PM
 
27,623 posts, read 19,512,382 times
Reputation: 11076
Quote:
Originally Posted by BRinSM View Post
who do you mean when you say perpetrators? there was more than one group who brought this on. Sure, big bad corporate America had something to do with tit, but also the government, no to mention the borrowers who bought more home than they could afford. Then there are the appraisers and brokers, real estate agents, the list goes on an on.


For starters:

Phil Gramm - who is joined at the hip with McCain
Henry Paulson and cronies

The political fans of deregulation try to blame the mortgage crisis on home buyers purchasing homes they could not afford -- as though a person wanting to buy a nicer home was something new. What was new was the Wall Street "securitization" of these teaser-rate and negative-amortization loans, whose only purpose was to trick ordinary people into believing they could afford mortgages that they couldn't afford.
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Old 10-01-2008, 02:21 PM
 
372 posts, read 809,052 times
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Are you talking about the mortgage brokers that sold these subprime mortgages? OR The buyers that bought something they couldn't afford with no verification? OR People that refinanced consumer debt into thier HELOC while average sale prices were rising? OR the members of Congress that pushed for banks to offer mortgage products to the less fortunate? OR the rating agencies that consider these sub-prime mortgage backed securities to be AAA credit worthy? OR are we talking about the retirement funds that bought stock in the greedy corporations?

Who are we blaming?
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Old 10-01-2008, 02:28 PM
 
372 posts, read 809,052 times
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Also, if under the current tax system to top 10% of all income earners pay over 50% of the taxes in this nation, wouldn't any tax increase be hitting them the hardest? You know those greedy golden parachute jumpers.
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Old 10-01-2008, 02:29 PM
 
Location: Sacramento
13,957 posts, read 25,358,995 times
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Quote:
Originally Posted by sickofnyc View Post
Are we getting into semantics here?
Mortgage Bank Fraud - fit better?
If fraud is specifically identified, it would need to be legally dealt with. However, much of what I have seen has to do with real estate valuation, and loans which were perfectly legal, and encouraged by HUD.
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