On 8/12/13 6:44 PM, Mr. Luddite wrote:


"F.O.A.D." wrote in message
m...

On 8/12/13 6:09 PM, Mr. Luddite wrote:


"F.O.A.D." wrote in message
m...


Virtually all the banksters who caused the economic recession of the
Bush Administration were not prosecuted or imprisoned for anything.

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The "banksters" didn't cause the recession. I think it would be more
accurate to call it the "Barney Frank & Co." recession.



Oh? Was Frank the one knowingly lending hundreds of billions of dollars
against worthless financial instruments, or engaging in predatory
lending? Was Frank responsible for the irresponsible and greedy
banksters putting themselves ahead of their responsibilities to their
shareholders, who, sadly, are too numerous and scattered to exert much
control.

There's no legal sting for the banksters. They'll do what they did
before, finding new loopholes to line their personal pockets.

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Frank and Co. were instrumental in getting legislation passed that
forced lenders to make sub prime loans or face financial penalties.
Financial institutions did what they felt they needed to do to protect
themselves. Yes, it's about money, but that's the business they are
in.


Please, please...don't throw me in that briar patch!

The financial penalties typically assessed against banksters are a
pittance. Real penalties would be shutting down the banks and brokerages
and indicting trying the top execs and their enablers in criminal court.
Our prisons are full of non-violent petty criminals where they should be
full of banksters, the major league thieves.