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Breaking News:SEC sues ex-Fannie, Freddie CEOs for fraud

Damnit, we're taking a beating in the polls! 2012 is coming up! We need something that makes it look like we've done something meaninful for our base!

I know! I know! If we don't get something we're going to have a hell of a time next year!

Hmmm...what do our base and the swing peons, er, I mean voters, not to mention large amounts of Republicans, agree on........

...who's expendable that can be 'thrown under the bus'....

...I know! They hate how they got forclosed on or have had their housing values plummet! Nearly Everyone doesn't like that...get me the head of the SEC! Time to start turning this shit around!

2012, comin at ya baby!!!

Lulz...so predictable...
 
Going after them is nothing. They need to be tossing the politicians in alongside them, and that's never going to happen.
 
Pretty much damage control at this point, trying to deflect attention and make it seem like this administration is doing something useful.

Let me know when Frank and Dodd end up in jail.....
 
chucky2 said:
Damnit, we're taking a beating in the polls! 2012 is coming up! We need something that makes it look like we've done something meaninful for our base!

I know! I know! If we don't get something we're going to have a hell of a time next year!

Hmmm...what do our base and the swing peons, er, I mean voters, not to mention large amounts of Republicans, agree on........

...who's expendable that can be 'thrown under the bus'....

...I know! They hate how they got forclosed on or have had their housing values plummet! Nearly Everyone doesn't like that...get me the head of the SEC! Time to start turning this shit around!

2012, comin at ya baby!!!

Lulz...so predictable...
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Yup, better to do nothing , than to look cynical, right?
 
Like most cases brought against those accused of financial fraud, the government will initially seek jail time and a fine of several hundred million or even a few billion dollars. They will then settle out of court for 2 weeks of prison time at a golf resort and a fine of 25$ and a half eaten doughnut.

We as a society treat petty criminals harsher than white collar financial criminals, even though the repercussions are far greater from the latter. If you get caught stealing 100$, you get labelled as scum and sent to prison for 3 years. If you get caught stealing 100 Million$, you get labelled an intelligent shrewd investor or businessman and get a gentle peepee slap (more of a light massage really).

Of course there are always exceptions, but I doubt these will be.
 
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Malfeas said:
Like most cases brought against those accused of financial fraud, the government will initially seek jail time and a fine of several hundred million or even a few billion dollars. They will then settle out of court for 2 weeks of prison time at a golf resort and a fine of 25$ and a half eaten doughnut.

We as a society treat petty criminals harsher than white collar financial criminals, even though the repercussions are far greater from the latter. If you get caught stealing 100$, you get labelled as scum and sent to prison for 3 years. If you get caught stealing 100 Million$, you get labelled an intelligent shrewd investor or businessman and get a gentle peepee slap (more of a light massage really).

Of course there are always exceptions, but I doubt these will be.
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This is a civil suit brought by the SEC not criminal, jail time isn't on the table at all.
 
MotF Bane said:
Going after them is nothing. They need to be tossing the politicians in alongside them, and that's never going to happen.
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It's never going to happen because you can't charge members of Congress with a crime for how they vote in office. Nor should it.

Honestly, there are more important and relevant issues to be resolved over this whole mess than gratifying people's emotional desire for revenge.
 
woolfe9999 said:
It's never going to happen because you can't charge members of Congress with a crime for how they vote in office. Nor should it.

Honestly, there are more important and relevant issues to be resolved over this whole mess than gratifying people's emotional desire for revenge.
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To bad there has been very little in the way of reform to rectify the situation.
 
Is Gooberment willing to prevent evil, but not able? Then they are impotent. Are they able, but not willing? Then they are malevolent. Are they both able and willing? Then whence cometh evil? Are they neither able nor willing? Then why call them Gubmint?
 
Ausm said:
To bad there has been very little in the way of reform to rectify the situation.
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Guess which party is blocking any efforts at reform. Can't even get the departement head for the Consumer Finacial Protection Bureau confirmed. The whole process in the Senate is broken. Use to be elections had consequences. Not anymore.
 
disappoint said:
Is Gooberment willing to prevent evil, but not able? Then they are impotent. Are they able, but not willing? Then they are malevolent. Are they both able and willing? Then whence cometh evil? Are they neither able nor willing? Then why call them Gubmint?
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This quote borders on wit, but alas, is disappointing.
 
Ausm said:
To bad there has been very little in the way of reform to rectify the situation.
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I disagree. The Dodd-Frank bill is considerably better than many liberals think it is. There's a reason Wall Street lobbied against it tooth and nail, and the GOP is trying to defund it, and refusing to confirm related appointments. It's nowhere near the old regulatory regime that got dismantled under Clinton, but it's significantly better than what we had before the crash.

That bill has gotten less attention, but is 100x more important, than any of these prosecutions or civil actions, or the lack thereof. Those are populist issues at best. We de-regulated them, remember? That's why most of what they did was at least quasi-legal. Reform is what really matters.
 
PokerGuy said:
Pretty much damage control at this point, trying to deflect attention and make it seem like this administration is doing something useful.

Let me know when Frank and Dodd end up in jail.....
Click to expand...

Dodd/Frank are only the tip of the incompetent iceberg. 😉
 
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