Quote:
Originally Posted by valo403
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.
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And no one - NO ONE - that was high up enough saw collapse in the near future, or if they did, raised the red flags. Banks were all too happy to let it continue as long as they were making the bucks.
There might not have been criminal activity per se (although that's highly debatable), but at what point does doing a disservice to society constitute a social crime.
I just keep coming back to the philosophy that EVERYONE should have lived by before 2008 -
Just because you can do something doesn't mean you should.