Comments on: More Fraud

By: Bryan

Bryan — Tue, 19 Oct 2010 02:27:48 +0000

I have to feel that the sisters, or their family, have enemies, because the case makes no sense unless someone was pushing very hard for it. There has to be more to the story than anyone will say. It makes no sense to keep them in prison any longer.

By: Ame

Ame — Mon, 18 Oct 2010 18:44:43 +0000

This story brought tears to my eyes. Sorrow for these women, and sorrow for my country. Perhaps we should begin to collect information such as this, a gathering of stones if you will.

http://www.nytimes.com/2010/10/16/opinion/16herbert.html?_r=1&th&emc=th

By: Bryan

Bryan — Mon, 18 Oct 2010 01:18:58 +0000

It is amazing want you get away with when you steal enough money. Steal a loaf of bread because you’re hungry, go to jail. Steal the bakery with a fraudulent mortgage and you get a bonus.

As you say, it will take voters to get significant penalties attached to “white-collar crime”. The dishonest corporations drive the honest businesses out. When the government ignores crimes because they are committed by corporations, they encourage the behavior.

If the people at the top were held responsible for the behavior of their corporation, a lot of things would change. That would be a major incentive for corporations to police themselves.

By: Ame

Ame — Mon, 18 Oct 2010 00:52:44 +0000

I am all in favor of establishing significant criminal penalties for corporate crimes, and I would even support a federal policy that would require those convicted of such crimes be housed in state prisons in the general population. These people have suffered no personal consequences, and it would take an act of Congress to establish laws that couldn’t be swiped away with the change of administration. But of course, that would be a “NO” Heck, even the local community bank won’t prosecute a bookkeeper that embezzles money from an account. Criminal penalties for corporate crimes is something that the public would have to demand be changed, and we would have to shout louder than the sound of money in a lobbyists pocket.

By: Bryan

Bryan — Sun, 17 Oct 2010 00:55:32 +0000

Until people start going to prison for significant periods, this is not going to stop. So far none the people on top have paid a real price for all of their frauds.

There is no point in continuing to prop up these criminal conspiracies. Return the depositors money to them and run the banks through bankruptcy. There was no guarantee that investments in the banks were risk free, so people holding the stock and bonds will have to absorb the cost of their gamble on what the banks were doing. The system is called capitalism, and it is time for the wealthy investors to find out what that really means.

By: Ame

Ame — Sat, 16 Oct 2010 22:45:12 +0000

Oh, I don’t think this is a result of incompetance. More and more this is looking like a carefully laid out plan that would have had some very big winners if Obama hadn’t come in and made the TARP fund takers repay that money. They didn’t plan on that. They didn’t plan on Elizabeth Warren entering from stage left, either. I believe they planned on it playing out the way the Savings and Loan robbery did.