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FAIL: One Word For Them All - 11/11/2008 7:06:23 PM
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HighPlainsDrifter
Posts: 1304
Joined: 9/22/2005
From: The Great Sioux Empire
Status: offline
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Paulson, Bernanke, Geithner, Congress.
President Bush.
And if he doesn't get on top of this, President-Elect Obama.
Let us begin by noting that President-Elect Obama voted for the $700 billion bailout - The "No Banker Left Hungry Act" - while the rest of America literally was losing their jobs and homes.
more HERE
The fact that NO ONE is going to jail for the current crisis and the blatant mismanagement of it is astounding, really. I'd ask the last honest man in DC to turn out the lights when he leaves, but I don't think there's even one left.
_____________________________
Give a hoot, eat yer Lute, Der's no risk in Lutefisk.
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RE: FAIL: One Word For Them All - 11/11/2008 9:56:41 PM
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Johnny_
Posts: 395
Joined: 11/26/2006
From: California
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I agree with you. I wish someone could be held accountable and go to jail for our current economic crisis. The middle and working class people of America are suffering. My heart goes out to these people. Blame it on what you want, the war, oil companies, sub-prime mortgage, etc.......However, putting someone behind bars is not going to solve anything. I have been realizing in the past few weeks that our economy is worse off than previously suggested. I'm not even sure that Obama can get us out of this mess. I am very worried and I hope the new administration will be straighforward and honest with the American People.
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RE: FAIL: One Word For Them All - 11/11/2008 10:33:57 PM
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GroupW
Posts: 2863
Joined: 11/16/2007
From: Up in the hills of Colorado (very BIG hills...)
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quote:
ORIGINAL: HighPlainsDrifter
The fact that NO ONE is going to jail for the current crisis and the blatant mismanagement of it is astounding, really. I'd ask the last honest man in DC to turn out the lights when he leaves, but I don't think there's even one left.
It's not over yet - the FBI is not even close to it's investigation. There are at least 20 ongoing investigations of major financial institutions going on at the moment. I'm fairly certain that at least one that I know of will result in some degree of formal charges being filed.
Appraisal fraud is one of the easier things to identify and prosecute. At least one major financial institution had a programmatic effort in place to facilitate the blacklisting of "excessively conservative" appraisers.
That said, most of the crisis was simply due to rampant stupidity. It's maddening, frustrating and unfortunate, but it's not illegal to be a moron.
_____________________________
“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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RE: FAIL: One Word For Them All - 11/11/2008 10:36:03 PM
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GroupW
Posts: 2863
Joined: 11/16/2007
From: Up in the hills of Colorado (very BIG hills...)
Status: offline
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quote:
ORIGINAL: Johnny_
I agree with you. I wish someone could be held accountable and go to jail for our current economic crisis. The middle and working class people of America are suffering. My heart goes out to these people. Blame it on what you want, the war, oil companies, sub-prime mortgage, etc.......However, putting someone behind bars is not going to solve anything.
I tend to agree - if we threw everyone in jail that committed some of this stupidity, a fair amount of the middle/working class would be in the slammer.
_____________________________
“For every problem, there is a solution that is simple, elegant and wrong.” -H.L. Mencken
"Most people would rather die than think; in fact, they do so." -Bertrand Russell
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RE: FAIL: One Word For Them All - 11/11/2008 11:00:53 PM
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Johnny_
Posts: 395
Joined: 11/26/2006
From: California
Status: offline
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quote:
ORIGINAL: GroupW
That said, most of the crisis was simply due to rampant stupidity.
I think there is big difference between making a common human mistake VS making a deliberate unethical decision. Of course, I am not in any position to determine what exactly was the source of our economic crisis.
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