1. Welcome to AppraisersForum.com, the premiere online  community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Obama: 'Wall St Wrongdoers cannot be allowed.'

Discussion in 'Fannie Mae, Freddie Mac, USPAP' started by GCJim, Jan 8, 2009.

Thread Status:
Not open for further replies.
  1. GCJim

    GCJim Senior Member

    5
    Dec 11, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    According to Obama's major speech on his emergency economic stimulus package this morning, 'Wall St wrongdoers cannot be allowed to slip through the cracks.' Also, he's calling for a complete overhaul of The US financial systems' regulation. This would be a very good start. May it begin with the mortgage bankers.
    Very aggressive plan.....I will be watching carefully.
     
  2. TJSum

    TJSum Elite Member

    4
    Nov 12, 2007
    Professional Status:
    Certified Residential Appraiser
    State:
    Maryland
    Simple. Don't bail them out. Let those who mis-managed crash and burn, this is the only way to make real change. The bailouts enable them NOT to change.
     
  3. Terrel L. Shields

    Terrel L. Shields Elite Member
    Gold Supporting Member

    Top Poster Of the Month

    466
    May 2, 2002
    Professional Status:
    Certified General Appraiser
    State:
    Arkansas
    Cramer said to pursue them under RICO statutes. I hope they don't. RICO was not meant to pursue anything but organized crime. It is not well suited to White Collar crime. After Enron, congress should have passed a White Collar version of RICO. It didn't.

    However, I would be satisfied with pursuing Fraud and conspiracy to commit Fraud. Madoff committed both by defrauding people and by hiding the fraud. Likewise all those "analysts" who were saying buy buy buy while dumping their personal stocks and telling friends to run for the exits also need charged with fraud and conspiracy....and not 6 mon. from now. Obama ought to order the Justice Dept to expand and create a SEC/FBI/DOJ task force with the mandate to file their first indictment within 60 days and to file an indictment every week somewhere on Wall Street until they have them all.
     
  4. Pamela Crowley (Florida)

    Pamela Crowley (Florida) Elite Member

    3
    Jan 13, 2002
    Professional Status:
    Retired Appraiser
    State:
    Florida
    Actually, I do believe RICO fits in this mess.
     
  5. GCJim

    GCJim Senior Member

    5
    Dec 11, 2007
    Professional Status:
    Certified General Appraiser
    State:
    New Jersey
    This is outstanding!! (It is already probably widely known within the right 'circles' who some of the main culprits of the mortgage meltdown are....they could probably indict much sooner than 60 days! :icon_mrgreen:)
     
  6. Ken B

    Ken B Elite Member

    110
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    The focus on the wrongdoers within our borders should be as strong, if not stronger, than the focus on the evildoers in foreign lands.
     
  7. Greg Bell

    Greg Bell Senior Member

    0
    Jul 7, 2006
    Professional Status:
    Gvmt Agency, FNMA, HUD, VA etc.
    State:
    Louisiana
    Whew, thank god the messiah will fix our economy.I though we might be in trouble but now the chosen one will perform some Socialist magic , oh never mind , he's a Marxist....wrong..ist...
     
  8. Ken B

    Ken B Elite Member

    110
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Certain elements destroyed a couple of notable buildings in NYC and killed nearly 3000 people in doing so.

    Other elements have created worldwide financial distress and ruin from which it will take decades to recover and which very well may, if not in this generation, then the next, bankrupt the country.

    Keeping politics out of the equation, which action resulted in the greatest harm to our culture as a whole?
     
  9. Caligirl

    Caligirl Senior Member

    0
    Jan 27, 2006
    Professional Status:
    Certified General Appraiser
    State:
    California
    You can't be serious. Taking a life and white collar criminals being bailed out are two different things.
     
  10. Ken B

    Ken B Elite Member

    110
    Feb 18, 2004
    Professional Status:
    Certified General Appraiser
    State:
    Florida
    Well, that is obvious. However, it is irrelevant to the question. And the bail out is a treatment, not the disease.
     
Thread Status:
Not open for further replies.

Share This Page