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

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

  1. #1
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    Should the Big Bankers and Wall Street execs get jail time?

    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?
    Last edited by DaveFagan; 10-25-13 at 09:34 AM. Reason: format

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

    I'm thinking the Big Bankers knew the financial threats of their positions and financial instruments and that is why they serve in these "illustrious" or notorious positions, ergo they can't plead ignorance. It would appear that if you are caught stealing or misappropriating a thousand dollars, you will go to jail, but if you are caught stealing or misappropriating a million dollars, you will be fined a hundred thousand dollars. I've got to get me one of these jobs. Crime does pay.

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

    Quote Originally Posted by DaveFagan View Post
    I'm thinking the Big Bankers knew the financial threats of their positions and financial instruments and that is why they serve in these "illustrious" or notorious positions, ergo they can't plead ignorance. It would appear that if you are caught stealing or misappropriating a thousand dollars, you will go to jail, but if you are caught stealing or misappropriating a million dollars, you will be fined a hundred thousand dollars. I've got to get me one of these jobs. Crime does pay.
    I'm truthfully stunned that there is not more interest regarding this topic. These are the executives responsible for the 2008 crash. Regulators are just now settling some of these cases. If you fine these people less than they steal, that is a tacit OK to steal some more, because it will be profitable. Steal a billion, minus a 100 million dollar fine and no prosecution or jail time and you will make a 900 million dollar profit. Keerissst, that's just good business because it turns a profit. Is there astigmatism in this picture or are our regulators living on another planet.

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

    Quote Originally Posted by DaveFagan View Post
    I'm truthfully stunned that there is not more interest regarding this topic. These are the executives responsible for the 2008 crash. Regulators are just now settling some of these cases. If you fine these people less than they steal, that is a tacit OK to steal some more, because it will be profitable. Steal a billion, minus a 100 million dollar fine and no prosecution or jail time and you will make a 900 million dollar profit. Keerissst, that's just good business because it turns a profit. Is there astigmatism in this picture or are our regulators living on another planet.
    in my opinion , the executives who were responsible for the 2008 crash should have been forced to give up to half their wages as compensation.

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

    These are not cases for criminal court, and only a far-left ideologue would disagree. Making bad investments are not felonies.

    That is absurd.

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

    Quote Originally Posted by Gipper View Post
    These are not cases for criminal court, and only a far-left ideologue would disagree. Making bad investments are not felonies.

    That is absurd.
    and what if those bad investment throws the entire economic system of the world into chaos?

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

    Quote Originally Posted by Unitedwestand13 View Post
    and what if those bad investment throws the entire economic system of the world into chaos?
    So all pencils should have erasers, huh?

    Sorry, but as someone who fully believes in accountability, I don't think you'd like my answer.

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

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

    Yes they should get jail time.
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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

    i voted "other".
    The executives should receive due process and be trialed, on criminal charges as they fit. If convicted, they should go to jail, yes.

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

    Quote Originally Posted by Gipper View Post
    These are not cases for criminal court, and only a far-left ideologue would disagree. Making bad investments are not felonies.

    That is absurd.
    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.

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