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gandalf
Participant[quote=Rich Toscano](And as context and to emphasize that first point, I think that a huge portion of the financial industry serves only as a giant parasite on the productive economy, and that the financial industry bailout has been/continues to be an economic and moral catastrophe).[/quote]
THIS.
Participant[quote=Rich Toscano](And as context and to emphasize that first point, I think that a huge portion of the financial industry serves only as a giant parasite on the productive economy, and that the financial industry bailout has been/continues to be an economic and moral catastrophe).[/quote]
THIS.
Participant[quote=Rich Toscano](And as context and to emphasize that first point, I think that a huge portion of the financial industry serves only as a giant parasite on the productive economy, and that the financial industry bailout has been/continues to be an economic and moral catastrophe).[/quote]
THIS.
Participant[quote=Rich Toscano](And as context and to emphasize that first point, I think that a huge portion of the financial industry serves only as a giant parasite on the productive economy, and that the financial industry bailout has been/continues to be an economic and moral catastrophe).[/quote]
THIS.
ParticipantI agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.
Yes, there will be FDIC lawsuits, another 25%, etc. Bloomberg reported on this the other day. Some may even succeed, resulting in a measure of forfeiture, ironically covered by insurance deducted as a business expense. There may even be criminal trials, but nothing of consequence. By and large, the results will be insignificant against the scale and backdrop of what happened, reckless banks and financial services corporations bringing our economy to the brink of collapse.
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.
ParticipantI agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.
Yes, there will be FDIC lawsuits, another 25%, etc. Bloomberg reported on this the other day. Some may even succeed, resulting in a measure of forfeiture, ironically covered by insurance deducted as a business expense. There may even be criminal trials, but nothing of consequence. By and large, the results will be insignificant against the scale and backdrop of what happened, reckless banks and financial services corporations bringing our economy to the brink of collapse.
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.
ParticipantI agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.
Yes, there will be FDIC lawsuits, another 25%, etc. Bloomberg reported on this the other day. Some may even succeed, resulting in a measure of forfeiture, ironically covered by insurance deducted as a business expense. There may even be criminal trials, but nothing of consequence. By and large, the results will be insignificant against the scale and backdrop of what happened, reckless banks and financial services corporations bringing our economy to the brink of collapse.
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.
ParticipantI agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.
Yes, there will be FDIC lawsuits, another 25%, etc. Bloomberg reported on this the other day. Some may even succeed, resulting in a measure of forfeiture, ironically covered by insurance deducted as a business expense. There may even be criminal trials, but nothing of consequence. By and large, the results will be insignificant against the scale and backdrop of what happened, reckless banks and financial services corporations bringing our economy to the brink of collapse.
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.
ParticipantI agree. The banks are principally responsible for a ‘banking meltdown’. The corporate directors and managing principals are responsible. It’s the letter of the law. And yet, for all intensive purposes, most of the people managing the financial services corporations at the epicenter of this disaster are going to emerge unscathed. They are not going to be held responsible for what happened, not in any practical sense. And there is something fundamentally wrong with that.
Yes, there will be FDIC lawsuits, another 25%, etc. Bloomberg reported on this the other day. Some may even succeed, resulting in a measure of forfeiture, ironically covered by insurance deducted as a business expense. There may even be criminal trials, but nothing of consequence. By and large, the results will be insignificant against the scale and backdrop of what happened, reckless banks and financial services corporations bringing our economy to the brink of collapse.
I could care less about ‘Deadbeat Joe’. He’s a fraction of the problem. I want to know when Wall Street is going to be held responsible for its reckless misconduct. That’s where the money went, and that’s what I want to know.
ParticipantBankers somehow ‘not responsible’ for a banking meltdown?
If you believe that, I’ve got a bridge I can sell you.
They absolutely knew. They made obscene profits and passed the costs, risks and losses downstream to a greater fool. Nobody was holding a gun to their head. When the house of cards blew up in their face, they feigned ignorance.
Historically, banking has been a conservative field, and a greater burden of trust is put upon corporations operating as banks because they hold our money. It was never okay to operate with the recklessness of a casino.
* * *
More important question:
Are owners, managers and employees of corporations so completely shielded from liability as to be ‘Not Responsible’ for the conduct of their firms? Bankers somehow not responsible for a banking meltdown?
How fucked are we if corporations aren’t responsible for their actions? Every cost, pollutant, risk or hazard of consequence will be passed off downstream to some other balance sheet, or onto the public’s balance sheet.
ParticipantBankers somehow ‘not responsible’ for a banking meltdown?
If you believe that, I’ve got a bridge I can sell you.
They absolutely knew. They made obscene profits and passed the costs, risks and losses downstream to a greater fool. Nobody was holding a gun to their head. When the house of cards blew up in their face, they feigned ignorance.
Historically, banking has been a conservative field, and a greater burden of trust is put upon corporations operating as banks because they hold our money. It was never okay to operate with the recklessness of a casino.
* * *
More important question:
Are owners, managers and employees of corporations so completely shielded from liability as to be ‘Not Responsible’ for the conduct of their firms? Bankers somehow not responsible for a banking meltdown?
How fucked are we if corporations aren’t responsible for their actions? Every cost, pollutant, risk or hazard of consequence will be passed off downstream to some other balance sheet, or onto the public’s balance sheet.
ParticipantBankers somehow ‘not responsible’ for a banking meltdown?
If you believe that, I’ve got a bridge I can sell you.
They absolutely knew. They made obscene profits and passed the costs, risks and losses downstream to a greater fool. Nobody was holding a gun to their head. When the house of cards blew up in their face, they feigned ignorance.
Historically, banking has been a conservative field, and a greater burden of trust is put upon corporations operating as banks because they hold our money. It was never okay to operate with the recklessness of a casino.
* * *
More important question:
Are owners, managers and employees of corporations so completely shielded from liability as to be ‘Not Responsible’ for the conduct of their firms? Bankers somehow not responsible for a banking meltdown?
How fucked are we if corporations aren’t responsible for their actions? Every cost, pollutant, risk or hazard of consequence will be passed off downstream to some other balance sheet, or onto the public’s balance sheet.
ParticipantBankers somehow ‘not responsible’ for a banking meltdown?
If you believe that, I’ve got a bridge I can sell you.
They absolutely knew. They made obscene profits and passed the costs, risks and losses downstream to a greater fool. Nobody was holding a gun to their head. When the house of cards blew up in their face, they feigned ignorance.
Historically, banking has been a conservative field, and a greater burden of trust is put upon corporations operating as banks because they hold our money. It was never okay to operate with the recklessness of a casino.
* * *
More important question:
Are owners, managers and employees of corporations so completely shielded from liability as to be ‘Not Responsible’ for the conduct of their firms? Bankers somehow not responsible for a banking meltdown?
How fucked are we if corporations aren’t responsible for their actions? Every cost, pollutant, risk or hazard of consequence will be passed off downstream to some other balance sheet, or onto the public’s balance sheet.
ParticipantBankers somehow ‘not responsible’ for a banking meltdown?
If you believe that, I’ve got a bridge I can sell you.
They absolutely knew. They made obscene profits and passed the costs, risks and losses downstream to a greater fool. Nobody was holding a gun to their head. When the house of cards blew up in their face, they feigned ignorance.
Historically, banking has been a conservative field, and a greater burden of trust is put upon corporations operating as banks because they hold our money. It was never okay to operate with the recklessness of a casino.
* * *
More important question:
Are owners, managers and employees of corporations so completely shielded from liability as to be ‘Not Responsible’ for the conduct of their firms? Bankers somehow not responsible for a banking meltdown?
How fucked are we if corporations aren’t responsible for their actions? Every cost, pollutant, risk or hazard of consequence will be passed off downstream to some other balance sheet, or onto the public’s balance sheet.
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