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Discussion in 'Politics, Religion, Social Issues' started by Chew Toy McCoy, Jan 27, 2017.
How about more outrage and shining of the light on this reality that absolutely nobody is disputing.
Wall Street thugs and traitorous bankers precipitated the 2008 economic crash. How many of these vile parasites, these filthy, wretched scoundrels in pinstriped suits did Obama prosecute and send to prison in the years 2009 - 2016 The answer is zero. I've posted this factoid many times.
Trump better prosecute Wall Street skulduggery that occurs on his watch.
That’s what I’m saying and there will be another massive financial crisis on Trump’s watch because the financial industry has learned nothing other than we will bail them out and lick our wounds while distracting ourselves with Mexicans, pipelines, and bathrooms.
trump hired them as his staff.
The fundamental problem is that it isn't easy to tell at which level in the organisation people actually knew about these various scandals. Obviously the people at the bottom did, but did the people at the top? Who knows.
The fundamental problem is that once your organisation goes beyond maybe 250 people or so it becomes impossible for the people at the top to credibly track fully what is going on.
The other side of it is I wonder what sort of assets under management a bank with 250 could handle. Maybe low billions of assets under management?
Then of course to manage risk you don't want the bank to have more than (say) 1% of its assets belonging to one client, so how do people build big buildings? How do big companies pay their salaries? Because you're down to being able to loan out 10-20 million to one customer.
And then you land up with every big company running its own shadow bank to fit it all together, is that really a good idea?
And how do the regulators keep track of thousands of tiny banks?
Corporations are people.....except when it comes to jail
The problem is no one would run anything more than a small bank if there was a significant risk of prison.
Look I'm sure the executives knew about some of the dodgy dealings. But I doubt they knew everything, nor could they reasonably be expected to.
After they backed Hillary's campaign.
They keep track of thousands of tiny liquor stores along many other business. Are you suggesting banks are too large or too small?
I agree with you about Obama doing **** all.
But Trump is part of the deregulation party so he wont do anything to fix it either imo.
They don't really keep track of thousands of liquor stores, it's still possible to buy alcohol underage.
I'm saying it is hard to start putting senior bankers in prison.
The only thing you could probably put them in jail for would be the big picture stuff, i.e the subprime scandal. But the financial scandals run much deeper than that.
They regulate them; they don't conduct law enforcement. And there is more to regulating than establishing a drinking age.
They know where the bodies are buried. A good thing too, because they just sold the property and want to make it into condominiums.
That's why you make laws where they can't make things so convoluted that nobody can be held accountable.
I'm holding the American people heavily responsible for this next round. Both the media and public opinion distilled outrage over the last crisis down to lib-tard hippy drum circles and then suddenly drug addicts and the Mexicans who supply them became
the most important crisis of this generation. Enjoy your next bankruptcy and asset loss brought to you by nothing you are all consumed with now. Again.
How do you find out who can be held accountable in an 8000 person organisation?
And sure some financial wizardry is bad, hell I'm not a big fan of a lot of it, but currency hedging is good, as is short selling and I believe so are futures.
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And financial regulation is especially hard as it involves money.
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You look at the size of the devastation and the level of manipulation and predictability. That’s all you need. The people at the top get locked up, period. None of this didn’t know personally crap (which is a lie). If that isn’t allowed by the law now then make it so it is.
You're acting like if such a thing happened then people would just stop trying to be insanely rich. A). No they wouldn't. B). If they did, good.
So you put the top bankers in prison, no one is prepared to run more than a diddly little bank and then how do you fund a large housing estate or football stadium?
Well, certain types of alcohol must be behind the counter and other kinds can be on the store shelves. It's been 30 years since I worked at a gas station I don't remember all the rules. But there are rules.
You're saying there's no middle ground between the neighborhood bank or having the power to destroy the national economy without punishment?
Suddenly Wall Street is evil again. You guys are so predictable.
Wait, when were they not evil?
When Hillary was selling keys to the kingdom at 200-500K a pop.
Oh, you mean the guy who's violating the "Emoluments" clause as we speak?
Yeah, he'll get right on that, he just has to go to his cabinet to find some of those crooks.
The last 8 years
What are you talking about. Have you forgotten about the leftist occupy movement. What do you think that was against?