Results 1 to 9 of 9
Like Tree2Likes
  • 1 Post By slavenomore
  • 1 Post By 222lifer

Thread: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

  1. #1
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,069
    Rep Power
    900

    Default Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    It's about time!!!!!

    It seems that the criminal bankers on Wall Street who pretty much single-handedly drove the U.S. economy off a cliff in 2008 will finally get their comeuppance. The United States Department of Justice has announced, via a memo issued last month, that individual people– not just the big companies, but the people directly responsible– will face prosecution for their roles in the worst financial crisis that our world has seen since the Great Depression.

    This move is long overdue, as the public has spent the last two years being outraged at the billions of dollars in taxpayer money spent on bailing out Wall Street, only to see their profits grow even bigger than before and they slip back into their old, crooked ways. All of those financial crimes will now be dealt with, though, at long last. The memo was directed to all Attorneys General in the United States. Deputy Attorney General Sally Q. Yates is quoted as writing in part of the document:

    “One of the most effective ways to combat corporate misconduct is by seeking accountability from the individuals who perpetuated the wrongdoing. Such accountability is important for several reasons: it deters future illegal activity, it incentivizes changes in corporate behavior, it ensures that the proper parties are held responsible for their actions, and it promotes the public’s confidence in our justice system.”
    Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis |

  2. #2
    I Am Rocking Now

    Join Date
    Jul 2011
    Local Union
    952
    Employer
    YRC
    Location
    SoCal
    Posts
    4,608
    Rep Power
    162

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    They might be able to prosecute some fall guys but I doubt you'll see any major players go to jail.

  3. #3
    Taking A Stand!!!

    Join Date
    Jul 2009
    Local Union
    492
    Employer
    ABF
    Location
    Albuquerque, NM
    Posts
    41,069
    Rep Power
    900

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    Quote Originally Posted by Kickass View Post
    They might be able to prosecute some fall guys but I doubt you'll see any major players go to jail.
    I'm thinking the same thing because if they were really interested in doing something about this, they would not have waited this long.

  4. #4
    Jesus Christ is Lord

    Join Date
    Apr 2010
    Local Union
    89
    Employer
    Allied
    Posts
    8,564
    Rep Power
    0

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    this doesn't really show up anywhere as a real news story

  5. #5
    On A Mission

    Join Date
    Oct 2009
    Local Union
    429
    Employer
    YRC
    Posts
    13,977
    Rep Power
    922

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    Possibly cause they own all the places a "real" news story might show up strap
    pedrager.

    Sometimes it'd improve confidence if real time in a real prison would be the sentence. Why should a guy who beat somebody for $10 for his next meal go to a nastier prison and do more time than a guy who stole a bunch of people's life savings?
    ABFwife likes this.

  6. #6
    Scab Hating Union Thug

    Join Date
    Aug 2009
    Local Union
    222
    Employer
    YRC
    Location
    Utah
    Posts
    26,621
    Rep Power
    1153

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    Quote Originally Posted by slavenomore View Post
    Possibly cause they own all the places a "real" news story might show up strap
    pedrager.

    Sometimes it'd improve confidence if real time in a real prison would be the sentence. Why should a guy who beat somebody for $10 for his next meal go to a nastier prison and do more time than a guy who stole a bunch of people's life savings?
    Sad to say, but prison is too good for these scum. How many did these crooks screw that could not cope with the loss and took their own life? Try them for murder. Life sentence in a hard labor camp. 20 hour days with one break for water. Just a sip though. A 16 oz hammer making big rocks into gravel. That sounds about right.

    Sent from my SGH-T399 using Tapatalk
    ABFwife likes this.

  7. #7
    It's 5 o'clock somewhere

    Join Date
    Dec 2007
    Local Union
    908
    Employer
    Retired
    Location
    state of confusion
    Posts
    5,969
    Rep Power
    801

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    Quote Originally Posted by Kickass View Post
    They might be able to prosecute some fall guys but I doubt you'll see any major players go to jail.
    Exactly right. Its taken them 7 years, but they finally found themselves some low level manager willing to fall on his sword for them.
    A plea bargain, a few years in a half-way house and a briefcase full of Ben Franklins for the fall guy, and then its back to business as usual
    for the high rollers. Bastards.

  8. #8
    Banned

    Join Date
    Jan 2011
    Local Union
    443
    Employer
    Roadway
    Location
    USA
    Posts
    5,645
    Rep Power
    0

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    Barney Breaks It Down - WSJ
    Updated Oct. 8, 2008 12:01 a.m. ET
    Barney Frank has found another cause for the credit panic: racist Republicans. "They get to take things out on poor people," the House Financial Services Chairman said at a Boston symposium Monday. "Let's be honest: The fact that some of the poor people are black doesn't hurt them either, from their standpoint."
    No one thinks poor or black people are to blame for the lending mania at the root of the mess. But there is little question that it resulted, at least in part, from a push to relax lending standards so as to make it easier for poor and minority borrowers to get mortgages. This in turn created incentives for banks to make bad loans, many of which Fannie Mae and Freddie Mac acquired.]
    "Like a lot of my Democratic colleagues I was too slow to appreciate the recklessness of Fannie and Freddie. I defended their efforts to encourage affordable homeownership when in retrospect I should have heeded the concerns raised by their regulator in 2004. Frankly, I wish my Democratic colleagues would admit when it comes to Fannie and Freddie, we were wrong."
    Barney Frank: Don’t Blame Me for Fannie, Freddie Problems - Developments - WSJ
    Mr. Frank acknowledged that he did not see the financial crisis coming and believed that government-sponsored mortgage giants Fannie Mae and Freddie Mac were “doing well” until 2003.

    However, Mr. Frank said that in 2004, he became concerned about the growth in the market for subprime loans, those made to borrowers with weak credit. Those loans are often faulted for sparking a financial panic starting in 2007.
    Barney Frank rolled the dice and lost

  9. #9
    I Am Rocking Now

    Join Date
    May 2008
    Local Union
    81
    Employer
    Retired; OHFL
    Location
    Oregon
    Posts
    2,236
    Rep Power
    294

    Default Re: Justice Department Set To Prosecute Wall Street Crooks For 2008 Financial Crisis

    I doubt that anyone over the age of 50 will live long enough to see anyone do time for this.

 

 

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 100 101