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Yes, the ones found guilty after a fair trial.
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?
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?
People who commit crimes can be prosecuted. Being a greedy a'hole isn't enough.
If they violated the law, they should be prosecuted to the full extent of the law. If they didn't, then the law should be changed.
Say I go into a high end retail store and see two items of the same type: one's very expensive and one's pretty cheap. If I were to switch the tags and try to get the expensive one for the price of the cheaper one then I'd be guilty of fraud and could face some serious jail time. It seems to me that's not very different from knowingly taking risky sub prime mortgages and selling them as low risk investments... except that this is about a billion times worse.
These are not cases for criminal court, and only a far-left ideologue would disagree. Making bad investments are not felonies.
That is absurd.
When a bank is fined $$$$billions of dollars and agrees to pay it, don't you think that a crime must have been committed? Is a little common sense in order?
So Madoff in your view should be a poor, yet free man? That's absurd. At some point fraud and financial illegalities rise above the level of deserving merely monetary punishment.jail should be reserved for people who have to be physically incapacitated so they do not harm others. If people defraud others sue them into the poor house.
So I guess no one really knows who specifically should be prosecuted for what. That's what I thought.
Just feels good to rant against The Man, I guess.
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So someone somewhere broke some laws, I'm pretty sure. :lamoIn fact, it is the Mortgage tranches where large numbers of mortgages are grouped together and sold as an investment vehicle. Some group is in charge of this department. Then the investment vehicles are promoted by marketing people as investments that will likely pay a decent return. However, at this point B of A, JP Morgan. etc., bet against their own investment vehicles that they were promoting to their customers. That's fraud or I'm pretty sure it's fraud. Same as a used car dealer telling you a car is fine when he knows it is going to crap out in 600 miles. You have to prove these things, but what I have stated has already been proven. Nowadays, the FED's QE program is purchasing these mortgages to bail out the same criminals, I guess.
So Madoff in your view should be a poor, yet free man? That's absurd. At some point fraud and financial illegalities rise above the level of deserving merely monetary punishment.
It's not about safety, it's about appropriate punishment for the crimes committed. Putting him in jail essentially ruins him financially as well, in addition to ensuring that he's not able to resume a life with any degree of comfort. His sentence should be no more lenient than that of an individual who steals in a more conventional fashion.how is the public safer with that guy in jail rather than being sued into the poor house. his ability to victimize anyone again was zero once he was convicted
It's not about safety, it's about appropriate punishment for the crimes committed. Putting him in jail essentially ruins him financially as well, in addition to ensuring that he's not able to resume a life with any degree of comfort. His sentence should be no more lenient than that of an individual who steals in a more conventional fashion.
so you make it about revenge rather than public safety. That works.
Use whatever term you may. Those that steal from and defraud thousands of individuals should not be free to rebuild a life of any comfort or normalcy.so you make it about revenge rather than public safety. That works.
Punishing evildoers is part of the process so that others get the living hell scared out of them if they ever even think about screwing people the way Madoff did.
SO you advocate the Wheel or the Pear for Madoff?
I like the line from TRADING PLACES
Billy Ray Valentine (Eddie Murphy) You know, it occurs to me the best way you hurt rich people is by turning them into poor people"
Punishing evildoers is part of the process so that others get the living hell scared out of them if they ever even think about screwing people the way Madoff did.
Punishment doesn't necessarily mean jail time. The jails are already full of people who are not a threat to the physical well being of others and who should be let out.
Two or three times reparations to the defrauded people plus a hefty fine sounds much more appropriate.