About Time

5.8 billion dollars is just Chump Change to these banks....they probably look at it as the Cost of Doing Business. The way they mutilated our economy with their greedy practices in the past decade, there should be dozens, perhaps hundreds of Bank executives doing some serious jail time. As I recall, in the aftermath of the S&L crisis back in the late 1980's, dozens of those bankers went to jail. Today, however, they own so many of our politicians, that they are almost "untouchable".

Between the "Liars Loans" that allowed millions to take out worthless mortgages, and then bundling those mortgages into CDO's that mostly wound up in Fannie Mae and Freddie Mac, these banks cost this nation 100's of billions of dollars.
 
Don M. said:
5.8 billion dollars is just Chump Change to these banks....they probably look at it as the Cost of Doing Business. The way they mutilated our economy with their greedy practices in the past decade, there should be dozens, perhaps hundreds of Bank executives doing some serious jail time. As I recall, in the aftermath of the S&L crisis back in the late 1980's, dozens of those bankers went to jail. Today, however, they own so many of our politicians, that they are almost "untouchable".

Between the "Liars Loans" that allowed millions to take out worthless mortgages, and then bundling those mortgages into CDO's that mostly wound up in Fannie Mae and Freddie Mac, these banks cost this nation 100's of billions of dollars.
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chump change to these banks

That sums it up because it's business as usual. These banks got caught. Think about all the stuff that doesn't get called out.

My thing is that the boards of directors of these companies are supposed to provide some kind of oversight to prevent stuff like this yet they seem to not only ignore it but literally sign off on it.
 

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