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View Full Version : Why Isn't Wall Street In Jail?



GorDoom
04-12-2011, 04:54 PM
http://www.rollingstone.com/politics/news/why-isnt-wall-street-in-jail-20110216

GorDoom
04-12-2011, 05:25 PM
The Real Housewives of Wall Street:
Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?

http://www.rollingstone.com/politics/news/the-real-housewives-of-wall-street-look-whos-cashing-in-on-the-bailout-20110411

GorDoom
04-12-2011, 05:27 PM
Wall Street's Big Win:
Finance reform won't stop the high-risk gambling that wrecked the economy.

http://www.rollingstone.com/politics/news/wall-streets-big-win-20100804

Dan Gunter
04-12-2011, 06:14 PM
Awesome stuff, Gor!

Every Mother's Fear
04-12-2011, 06:37 PM
No shit, why aren't these cock suckers in jail??? But of course it's the Wisconsin teacher union that is the REAL threat to America.

EMF

kikibalt
04-12-2011, 09:01 PM
Wall Street is not in jail because it pays protection...to the politicians; just as Al Capone did in old Chicago...

GorDoom
04-14-2011, 03:02 PM
From The NY times:


In Financial Crisis, No Prosecutions of Top Figures


http://www.nytimes.com/2011/04/14/business/14prosecute.html?hp=&adxnnl=1&adxnnlx=1302807635-HGiTPaua1AWkDxTCKCkoQg

doomeddisciple
04-28-2011, 10:29 PM
But hey - Let's have all your big business dollars drumming up tea party folks into worrying about important stuff, like Barrack Obama's birth certificate.

apollack
04-29-2011, 09:08 AM
Must see film - Inside Job. Very well done. Tons of interviews, information, and explanations as to why the world economy collapsed, and done in an entertaining, educational, and intriguing way. Bottom line is that if there are not much stricter regulations, what happened WILL happen again and again. The very people that caused this to happen have an incentive to make sure no regulations are put into place because regulations prevent them from becoming extremely wealthy, although lack of regulation has come at the expense of millions of people and the economy of the U.S. and the world and will be so again. The folks who caused this to happen have short term incentives to make lots of money even though their activities might destroy their own companies, but they don't believe their companies will be destroyed because they know they have gotten so big that the government will bail them out. The government does nothing because the people who run the government are in bed with these folks, they ARE these folks, and making money with these folks. They then use taxpayer money to keep these folks going. Economists and professors at universities have personal financial incentives to advocate for no regulations because they are getting paid to take those positions, and those that rate the investment value of companies have financial incentives to give these companies high ratings even when they know said companies are about to declare bankruptcy. There is no honesty or integrity to the system and the very government that is supposed to be watching out for the the country could care less. It is shocking. Seriously must watch this film. These folks have been involved in the Regan, Bush, Clinton, Bush II presidencies, and yes, they are also serving in top positions in Obama's administration. Yes, the very people who not only allowed this to happen and did not prevent it are the very people who actually caused it to happen, and now they are in charge of making sure it doesn't happen again when in fact they want the same situation to exist that allowed it to happen in the first place because that is what makes them the most money. I may sound nutty but just watch the film. It is fantastic.

mrbig1
05-01-2011, 10:47 AM
Because we live in the ununited slaves of America. So just be a good slave and shut up about it. P.S. They're going to steal your 401K plan as well.

Michael Frank
05-16-2011, 05:28 PM
No shit, why aren't these cock suckers in jail??? But of course it's the Wisconsin teacher union that is the REAL threat to America.

EMF
You said it all, EMF. Took the words right out of my mouth, even if a month ago!

Love those exposes by Matt Taibbi. He's also one of the most interesting guests on Bill Maher's HBO show.

GorDoom
07-28-2011, 04:05 PM
The People vs. Goldman Sachs by Matt Taibbi
http://www.rollingstone.com/politics...sachs-20110511

mrbig1
07-29-2011, 08:27 PM
The people will get there ass handed to them again.

The Welterweight Epitome
09-12-2011, 10:49 PM
Back not all that long ago, scientists were considered the 'rock stars' of their day. You then, for a short period of course, had rock stars and then you had Wall St bankers becoming modern day rock stars.

This is the ultimate failure of capitalism. It encourages money making over legitimate production and ingenuity.

Unfortunately, we need markets for price discovery and to function, but it definately got out of control and the general system and culture must change. 'The people' must stop blaming the bankers and the current Government, this was created by Governments of the past and we must now find a way forward and align incentives, whether they be financial, social or whatever, back towards production and research and development. "The invisible hand" works in it's purest form, but like the fallacy of composition, when everyone becomes involved and all kinds of derivative, exotic and swap markets are created, nobody even understands what is going on let alone an invisible hand trying to find an equilibrium.