Quote:
Originally Posted by mikey_the_redneck
If dumping private banking losses on the public balance sheet isn't a crime, then I don't know what is. The clowns down at Goldman Sachs/J.P. Morgan knew exactly what they were doing, and over the years have infiltrated/lobbied the government to create favorable conditions for themselves and eliminate competition.
People are finally becoming aware that Wall St. and the Whitehouse are basically business partners. They are one and the same. Get out the guillotines!
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So what crime was it exactly? What charges do you propose be brought? Under what laws?
I don't think everything was done according to the law, nor has that changed today, but the vast majority of the transactions and conditions that lead to the mortgage crisis were completely above board. They were the product of a system that allowed banks and related entities to do almost as they pleased, conditions that lead to some pretty high living years before the eventual crash. The system certainly needs to be overhauled, and regulatory bodies need to actually regulate, but it's hard to call past actions in a virtually lawless land a crime.