View Poll Results: Should the Big Bankers and Walll Street execs get jail time?

Voters
56. You may not vote on this poll
  • YES!

    36 64.29%
  • NO!

    8 14.29%
  • Too complicated to determine!

    2 3.57%
  • Other! Please explain.

    10 17.86%
Page 2 of 11 FirstFirst 1234 ... LastLast
Results 11 to 20 of 110

Thread: Should the Big Bankers and Wall Street execs get jail time?

  1. #11
    Banned
    Join Date
    Feb 2008
    Location
    Theoretical Physics Lab
    Last Seen
    01-06-15 @ 11:06 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    25,120

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by NeoVsMatrix View Post
    If so wanted, many of those behind the schemes used could be on trial on the same charges as for example Bernie Madoff.
    Intentional provision of false information, profiting from failing investments by betting against investors who were sold those investments on false promises by the same corporations... there's plenty of criminal charges and felonies that have been committed.
    There is a far cry between a risky investment and a Ponzi. Slight hyperbole.

  2. #12
    User
    Join Date
    Oct 2013
    Last Seen
    03-02-15 @ 05:37 PM
    Gender
    Lean
    Undisclosed
    Posts
    102

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by Gipper View Post
    There is a far cry between a risky investment and a Ponzi. Slight hyperbole.
    That would be for the court to determine, if there'd be a trial with all facts on the table.

    The emails that have been made available, as to when people knew that the given situation was about to crumble and fall apart, the admission in those emails that this was meant to fail, that intentional bets have been made on those investments to crash, and that At some point investors were knowingly pulled into the already deteriorating market, pretty much knowing that they would lose their investments... there are a lot of parallels.
    The intention to profit personally from an investment advise given to someone else, while knowing about the undisclosed risks such an investment bares... that sounds a lot like a ponzi scheme to me.

  3. #13
    User
    Join Date
    Oct 2013
    Last Seen
    03-02-15 @ 05:37 PM
    Gender
    Lean
    Undisclosed
    Posts
    102

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by Gipper View Post
    There is a far cry between a risky investment and a Ponzi. Slight hyperbole.
    This is only an opinion, of course, not a legal observation.. but, as to your point, i am not the only one who thinks that comparing the DCS crash to a ponzi scheme is not at all just a far cry.

    Excerpt:
    "One of the most poorly kept secrets in Wall Street’s empire of fraud was that credit default swaps were never anything but pretend-insurance. The credit default swap market is a $60+ trillion paper Ponzi-scheme. The Wall Street crime syndicate claiming to “back” this insurance have nothing more than a few $billion of liquidity apiece. It is a fact of arithmetic that these fraud-factories never intended to honour these contracts."

    Credit Default Swap Fraud Exposed/Confirmed

  4. #14
    Banned
    Join Date
    Feb 2008
    Location
    Theoretical Physics Lab
    Last Seen
    01-06-15 @ 11:06 AM
    Gender
    Lean
    Libertarian - Right
    Posts
    25,120

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by NeoVsMatrix View Post
    That would be for the court to determine, if there'd be a trial with all facts on the table.

    The emails that have been made available, as to when people knew that the given situation was about to crumble and fall apart, the admission in those emails that this was meant to fail, that intentional bets have been made on those investments to crash, and that At some point investors were knowingly pulled into the already deteriorating market, pretty much knowing that they would lose their investments... there are a lot of parallels.
    The intention to profit personally from an investment advise given to someone else, while knowing about the undisclosed risks such an investment bares... that sounds a lot like a ponzi scheme to me.
    People who think that derivatives are low-risk ought to not invest in the first place.

  5. #15
    long standing member
    justabubba's Avatar
    Join Date
    Dec 2005
    Last Seen
    Today @ 11:15 AM
    Gender
    Lean
    Independent
    Posts
    36,136

    Re: Should the Big Bankers and Wall Street execs get jail time?

    looking forward to a response to this Warren inquiry:
    ... Although the budget for TARP's inspector general was "a small fraction of the size of the budgets and staffs at your agencies," Warren pointed out, the program's watchdog has brought criminal charges against nearly 100 senior executives; obtained criminal convictions on 107 defendants, including 51 jail sentences; and suspended or banned 37 people from working in the banking industry.How about you guys, Warren asked. She called on the Fed, the SEC, and the OCC to provide records on the number of people the agencies have charged criminally and civilly, the number of convictions and prison sentences they have obtained, the number of people banned or suspended from working in the industry, and the total amount of fines leveled against Wall Street ne'er-do-wells.
    [emphasis added by bubba]

    until this prosecution - of those guilty of fraud and illegal manipulation - happens
    we will continue to have the best government money can buy

    thank you Elizabeth Warren for staying focused on this issue
    please run for the white house in 2016
    we are negotiating about dividing a pizza and in the meantime israel is eating it
    once you're over the hill you begin to pick up speed

  6. #16
    Guru
    Morality Games's Avatar
    Join Date
    Jul 2009
    Location
    Iowa
    Last Seen
    05-24-16 @ 10:00 AM
    Gender
    Lean
    Centrist
    Posts
    3,733

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by DaveFagan View Post
    Mojo - October 2013 | Mother Jones

    Warren to Wall Street Regulators: Put Big Bank CEOs in Jail

    http://m.motherjones.com/mojo/2013/10/elizabeth-warren-letter-wall-street-jail"This past weekend, the Department of Justice slapped a record fine on JPMorgan Chase for packaging and selling the mortgage-backed financial products that helped cause the financial meltdown. But Sen. Elizabeth Warren (D-Mass.) wants the administration to know that fines are not enough. On Wednesday, she called on Wall Street regulators to hold all those responsible for the 2008 crisis accountable.In a letter to the Federal Reserve, the Securities and Exchange Commission (SEC) and the Officer of the Comptroller of the Currency (OCC), Warren lauded the overseer of the TARP bailout program for cracking down on financial industry players who wasted, stole, or abused the federal emergency funds doled out to banks during the financial crisis, and implied that the three banking regulators should also punish individuals who helped cause the financial meltdown.Although the budget for TARP's inspector general was "a small fraction of the size of the budgets and staffs at your agencies," Warren pointed out, the program's watchdog has brought criminal charges against nearly 100 senior executives; obtained criminal convictions on 107 defendants, including 51 jail sentences; and suspended or banned 37 people from working in the banking industry.How about you guys, Warren asked. She called on the Fed, the SEC, and the OCC to provide records on the number of people the agencies have charged criminally and civilly, the number of convictions and prison sentences they have obtained, the number of people banned or suspended from working in the industry, and the total amount of fines leveled against Wall Street ne'er-do-wells."

    Don't billion dollar crimes deserve jail time?

    Is it curious that Warren has been prosecuting with jail time, but FEDS have not?

    Is this the result of the revolving door of employees between Wall Street and FED, etc.?

    I can't imagine multi million and billion dollar fines and no criminal prosecution, can you?

    This smells like fish, and our economy is still suffering, but these crooks remain rich, footloose, and untouchable.

    Is the new Mafia the elite bankers on Wall Street?
    No, but they should be reduced to instruments of the state.

    If a nation's economic resources are "too big to fail" then it follows they are "too big for freedom."
    Last edited by Morality Games; 10-25-13 at 04:33 PM.
    If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.

    St. Benedict

  7. #17
    Wrinkly member
    Manc Skipper's Avatar
    Join Date
    Jan 2008
    Location
    Southern England
    Last Seen
    Today @ 09:57 AM
    Gender
    Lean
    Slightly Liberal
    Posts
    23,187

    Re: Should the Big Bankers and Wall Street execs get jail time?

    The worst offenders should be treated like Admiral John Byng, to encourage the others.

    John Byng (British admiral) -- Encyclopedia Britannica
    Don't work out, work in.

    Never eat anything that's served in a bucket.

  8. #18
    Guru
    Morality Games's Avatar
    Join Date
    Jul 2009
    Location
    Iowa
    Last Seen
    05-24-16 @ 10:00 AM
    Gender
    Lean
    Centrist
    Posts
    3,733

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by Manc Skipper View Post
    The worst offenders should be treated like Admiral John Byng, to encourage the others.

    John Byng (British admiral) -- Encyclopedia Britannica
    That sort of violence has its temptation, but it isn't really helpful. Regardless of their faults, slaughtering the landowners didn't help Russia very much. That being said, the longer Big Money resists correction the more severe the eventual correction will be.
    If you notice something good in yourself, give credit to God, not to yourself, but be certain the evil you commit is always your own and yours to acknowledge.

    St. Benedict

  9. #19
    Iconoclast
    DaveFagan's Avatar
    Join Date
    Mar 2011
    Location
    wny
    Last Seen
    Yesterday @ 11:13 PM
    Lean
    Conservative
    Posts
    7,292

    Re: Should the Big Bankers and Wall Street execs get jail time?

    Quote Originally Posted by NeoVsMatrix View Post
    This is only an opinion, of course, not a legal observation.. but, as to your point, i am not the only one who thinks that comparing the DCS crash to a ponzi scheme is not at all just a far cry.

    Excerpt:
    "One of the most poorly kept secrets in Wall Street’s empire of fraud was that credit default swaps were never anything but pretend-insurance. The credit default swap market is a $60+ trillion paper Ponzi-scheme. The Wall Street crime syndicate claiming to “back” this insurance have nothing more than a few $billion of liquidity apiece. It is a fact of arithmetic that these fraud-factories never intended to honour these contracts."

    Credit Default Swap Fraud Exposed/Confirmed

    The article linked is exactly correct and was written a year and a half ago. Not a very flattering picture of our government or the rest of the World Banking system. It all appears a charade to protect the crooks. Warren should be careful. If she rocks this boat, her life could be in danger.

  10. #20
    Black Is Smart
    Van Basten's Avatar
    Join Date
    Sep 2011
    Location
    The New New Frontier
    Last Seen
    11-06-17 @ 07:59 PM
    Gender
    Lean
    Progressive
    Posts
    4,661

    Re: Should the Big Bankers and Wall Street execs get jail time?

    If they are a guilty of offenses appropriate for imprisonment, yes, hunt them down (legally).
    "We have more responsibility than power, I think. The newspaper can create great controversies, stir up arguments within the community or discussion, can throw light on injustices....just as it can do the opposite. It can hide things and be a great power for evil." -- Rupert Murdoch, 1968

Page 2 of 11 FirstFirst 1234 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •