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Old 01-08-2009, 11:21 AM
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GCJim GCJim is offline
 
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Default Obama: 'Wall St Wrongdoers cannot be allowed.'

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.
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Old 01-08-2009, 11:35 AM
TJSum TJSum is offline
 
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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.
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Old 01-08-2009, 11:56 AM
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Terrel L. Shields Terrel L. Shields is offline
 
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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.
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Old 01-08-2009, 12:02 PM
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Pamela Crowley (Florida) Pamela Crowley (Florida) is offline
 
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Actually, I do believe RICO fits in this mess.
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Old 01-08-2009, 12:09 PM
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Quote:
Originally Posted by Terrel L. Shields View Post
......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.
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! )
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Old 01-08-2009, 12:09 PM
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The focus on the wrongdoers within our borders should be as strong, if not stronger, than the focus on the evildoers in foreign lands.
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Old 01-08-2009, 12:12 PM
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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  
Old 01-08-2009, 12:26 PM
Ken B Ken B is offline
 
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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?
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Old 01-08-2009, 01:53 PM
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Quote:
Originally Posted by Ken B View Post
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?
You can't be serious. Taking a life and white collar criminals being bailed out are two different things.
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Old 01-08-2009, 02:04 PM
Ken B Ken B is offline
 
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Well, that is obvious. However, it is irrelevant to the question. And the bail out is a treatment, not the disease.
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