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03 29, 24, 07:53:13:AM

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Biden Does NOT need a BILL to close the border
He only needs a PEN. Thats all he needed to open it.
Thats all he needed to close it. Thats all Trump needed.
Maybe this is just Proof Trump is better than Biden.

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 |  All Boards  |  Guest Posting Area  |  Topic: Why aren't Wall Street Execs in Jail? 0 Members and 1 Guest are viewing this topic.
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Author Topic: Why aren't Wall Street Execs in Jail?  (Read 878 times)
MoeCurlyLarryShemp
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« on: 02 19, 11, 05:29:01:PM » Reply

Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail.
 
Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people.
 
The rest of them, all of them, got off. Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom — an industrywide scam that involved the mass sale of mismarked, fraudulent mortgage-backed securities — has ever been convicted.
 
 
Their names by now are familiar to even the most casual Middle American news consumer: companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley. Most of these firms were directly involved in elaborate fraud and theft.
 
 
Lehman Brothers hid billions in loans from its investors.
 
 
Bank of America lied about billions in bonuses.
 
 
Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling.
 
 
What's more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even "one dollar" just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick "The Gorilla" Fuld conveniently failed to disclose.
 
Yet not one of them has faced time behind bars.
 
 
Invasion of the Home Snatchers
 
Instead, federal regulators and prosecutors have let the banks and finance companies that tried to burn the world economy to the ground get off with carefully orchestrated settlements — whitewash jobs that involve the firms paying pathetically small fines without even being required to admit wrongdoing.
 
To add insult to injury, the people who actually committed the crimes almost never pay the fines themselves; banks caught defrauding their shareholders often use shareholder money to foot the tab of justice.
 
 
"If the allegations in these settlements are true," says Jed Rakoff, a federal judge in the Southern District of New York, "it's management buying its way off cheap, from the pockets of their victims."
 
www[dot]rollingstone[dot]com/politics/news/why-isnt-wall-street-in-jail-20110216
Me_Beavis_U
Sr. Member

Posts: 18174


« Reply #1 on: 02 21, 11, 01:25:04:AM » Reply

Because Obama is in Bed with Wall Street.


http://www.google.com/search?q=Obama+is+in+Bed+with+Wall+Street&ie=utf-8&oe=utf-8&aq=t&rls=org.mozilla:en-US:official&client=firefox-a#q=Obama+is+in+Bed+with+Wall+Street&hl=en&client=firefox-a&hs=8gk&rls=org.mozilla:en-US:official&prmd=ivnsfd&source=univ&tbs=vid:1&tbo=u&sa=X&ei=GgViTaTpDMODtgeg6pHuCw&ved=0CD0QqwQ&bav=on.1,or.&fp=bc7599bc67925782
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