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Whateva
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Leave it to the Republicans commenting here to say that these guys are "A OK" and that the real problem is the American people. WTF?? The head of a company lies to shareholders and laughs about it and you defend them? You are the definition of sheeple. This is exactly what the people in power want you to do...defend them. Disgusting.
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The reaper
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Hang them from light poles.
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Geogib-Easton_Ma ryland
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This is exactly why investors need to be regulated and scrutinized for all transactions exceeding $10,000, just like banking transactions are monitored.
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ConservativeinSe attle
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You idiots that blame this mess on"typical Republicanism" are still smoking liberal crack- the prime mortgage meltdown mess is a NON-PARTISAN issue!!Good old fashioned greed,the belief that one can make money the "easy" way by speculating in flipping houses,and the sheer idiocy of the ill-informed shareholders about where to invest,is a non party,non-political choice! I'll bet as many Democrats/Libs lost there ass as much as many Republican/Conservatives!!Anyt ime anyone tries to circumvent the rules and deceive the public,we ALL pay the consequences.
If you want to get down to brass tacks,was it not the DEMOCRATS that were screaming about how unfair it was to require 20% down to buy a house,that it was UNFAIR to exclude the "less fortunate" from becoming a part of the "American Dream" of being a homeowner,& that sub-prime loans were needed?
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David-Richmond_V A_USA
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Business managers/Directors should still be held accountable to the old "prudent man" theory. Which is "what would a prudent man do to protect the company & its customers?"
These days, too many of them do stuff to ensure they get their stock options and high pay, knowing anyone with an IQ higher than a 2-year-old would not do it. Then with the millions they essentially stole from the company, they hire a defense team of attorneys to fight prosecution - and plea deal to give back cents on the dollars for the damages they caused.
I think they should get life in a max security prison, with a cellmate called "Bubba", who's last 3 bitches died from sexually transmitted diseases.
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Ch5 News is number 1
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Where is Lynda Baquero? I like Sue and Chuck but come on they are getting old. Rosanna Scotto is fun to listen to with Ernie Anastos, while Sue and Chuck are boring. NO you won't get better ratings with them back too late maybe 10 years ago but not now. YOUNG is in so if you want me back, bring Lynda and Ushery or the guy who does the morning news with Darlene or even Darlene. Sorry to post this here but i hate watching the evening news with Chuck and Sue...at 11pm they are OK since they make me sleepy.;P
In the end i (and others) will move to whatever channel she get hired to UNLESS it's Faux News.
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Ch5 News is number 1
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the **** is supposed to be L.ynda B.aquero...wonder why they did that maybe she IS on her way out.
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tdrag South Carolina
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When are we going to investigate the House and Senate? They are the ones who demanded that lenders give mortgages to people who they knew couldn't or wouldn't pay back the loans. Charlie Schumer threatened them with all kinds of investigations so they gave in. It's the same thing they are trying to do to the oil companies. Communism is alive and well in the "Democrat" party.
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candor
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Now lets go after the mortgage brokers who aided and abetted the conspiracy to defraud and the lenders who lied on their mortgage appilications which by the way is perjury. The Government should take no prisoners on this debacle to make certain no one ever again perpetrates such a monumental fraud.
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S L MacDonald
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THE SUBPRIME MORTAGE MELTDOWN WAS SYSTEMIC...
The root of the problem started with irresponsible mortgage lending coupled with the even more irresponsible securitization of such mortgages, slicing them into tranches, creating CDOs (a-bcp, structure finance bonds, "protected" (Ha! Ha! Ha!) with monoline insurance 'wraps' and CDS creddit default swaps and phoney AAA ratings and then subjected to even more fun and games when these instruments became the underlying assets for derivative issuances.
Geez Louise. The entire system was run like an arrogant anarchy gone AWOL; let's just call it the Wild, Wild West of Wall Street. Greenspan was aging and asleep and the SEC was too castrated to be able to do any kind of meaningful oversight. The ISDA was missing in action as well. A total failure of all detect and prevent mechanisms...
So... why take two hedge fund managers and try to make scapegoats out of them? The FBI is running the wrong game here. Reminds me of the famous last (semi-last?) words of Lee Harvey Oswald -- "I'm just a patsy." And so he was. These newly arrested guys may not be pure as the driven snow, but they should not be made out to be the poster boys for the subprime systemic financial failure either! Get real. The Brits haven't sent jackbooted thugs out to arrest the elite managers of the failed Peloton Fund, have they? And why aren't the Fibbies out there perp walking the managers of the spectacularly crashed Carlyle (FOB = Friends of Bush) Capital Group just like Mssrs C and T of Bear-Sterns? And how about all those SIVs which have gone belly up? Are their directors subject to arrest now as well?
Fair is fair. Smear one, smear all. Arrest two minor scapegoats; then round up all the other bellwether goats too! In fact, why not just throw legal charges at random at all the investment bankers and originators of this huge mess of toxic, near-toxic and soon-to-be-toxic commercial paper? Throw 'em all in the clink together. Ruin everyone's life willy nilly.
Or... just let them all go free and revamp the system and the oversight from the bottom up, ensuring that no similar systemic failure will ever be allowed to occur again!
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S L MacDonald
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THE SUBPRIME MORTAGE MELTDOWN WAS SYSTEMIC...
The root of the problem started with irresponsible mortgage lending coupled with the even more irresponsible securitization of such mortgages, slicing them into tranches, creating CDOs (a-bcp, structure finance bonds, "protected" (Ha! Ha! Ha!) with monoline insurance 'wraps' and CDS creddit default swaps and phoney AAA ratings and then subjected to even more fun and games when these instruments became the underlying assets for derivative issuances.
Geez Louise. The entire system was run like an arrogant anarchy gone AWOL; let's just call it the Wild, Wild West of Wall Street. Greenspan was aging and asleep and the SEC was too castrated to be able to do any kind of meaningful oversight. The ISDA was missing in action as well. A total failure of all detect and prevent mechanisms...
So... why take two hedge fund managers and try to make scapegoats out of them? The FBI is running the wrong game here. Reminds me of the famous last (semi-last?) words of Lee Harvey Oswald -- "I'm just a patsy." And so he was. These newly arrested guys may not be pure as the driven snow, but they should not be made out to be the poster boys for the subprime systemic financial failure either! Get real. The Brits haven't sent jackbooted thugs out to arrest the elite managers of the failed Peloton Fund, have they? And why aren't the Fibbies out there perp walking the managers of the spectacularly crashed Carlyle (FOB = Friends of Bush) Capital Group just like Mssrs C and T of Bear-Sterns? And how about all those SIVs which have gone belly up? Are their directors subject to arrest now as well?
Fair is fair. Smear one, smear all. Arrest two minor scapegoats; then round up all the other bellwether goats too! In fact, why not just throw legal charges at random at all the investment bankers and originators of this huge mess of toxic, near-toxic and soon-to-be-toxic commercial paper? Throw 'em all in the clink together. Ruin everyone's life willy nilly.
Or... just let them all go free and revamp the system and the oversight from the bottom up, ensuring that no similar systemic failure will ever be allowed to occur again!
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Mako
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Bad things can happen to you when you play with other people's money and joke about it via e-mail.
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kww
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To Rob, Irving Tx,
Hmmmm, you live in TX, IMO, no one from this state should legally be able to call anyone stupid. It should be viewed as hate speech directed at the intelligent. You voted for Bush no doubt and have the unmitigated gall to call anyone stupid???!!! Dude you are a tool and a fool.
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VaResident
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About time that White Collar crime gets a little more tough. A man steal $300 in most states, its a felony that will get him a year or two in jail. Steal 300,000,000 and get probation. Ruin a day go to jail, ruin thousands of lives, go home? That just don't seem right.
If these people are guilty, they need to do some very serious time... Since they ruined lives, life might not be out of the question.
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NYCbanker
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Its hilarious that these morons from the midwest are defending bankers and republicans, like some dirt farmer in irving texas doesn't want investment banks regulated, or oil companies taxed, they must enjoy watching people like me get rich. HA. Keep on voting against your own best interests midwest, im making alot of money off it.
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Simon Sez
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Let's take a long look at Goldman Sachs regarding oil speculation!!!
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Sam Hill
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How dumb can they be??? email to each other...
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Judge it!
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