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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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From my view, the Wall Street firms were not the only criminals. The people in government who enabled/legislated the banks to plunder the nations wealth are also guilty for legitimizing the whole charade, and should be charged for treason. The bank lobby was even threatening Congress members behind the scenes into accepting the bail outs, saying that total chaos and martial law would result if the banks were not bailed out. Americans were fooled plain and simple.