http://www.nytimes.com/2008/11/02/business/02gret.html?_r=1&ref=business&oref=slogin Read that carefully. I knew this crap was going on AND ALL I HAD WAS THE STENCH WAFTING OVER when the wind was blowing right. You mean to tell me the regulators were clueless? Where were the arrests? And where are the public hangings? Maybe Obsama will go native on us and do an Idi Amin imitation.
well i find it very interestingly curious how the Commodity Futures Modernization Act of 2000 got enacted, was it just coincidence ? fate ? the re-alignment of the planets ? the banks were certainly fleet of feet to take advantage of the US housing boom and realize such a potential swaps market providing super bonuses in addition to commissions to brokers to get enough product to sell-on as packaged investments but the investigations of it all and the associated lawsuits both public and private will take years and years - currently not just the fbi but sec and justice are severly understaffed to cope: 'Bush administration denies funding for FBI' http://seattlepi.nwsource.com/national/385786_fbi31.html?source=mypi
Honestly if bankers wanted to take the risks to approve loans to just anyone, I don't see any problem there. If people got approved and now can't pay, too bad for them and too bad for the bankers . Now the bankers should not get bailed out, unless they surrender all their bonuses and get replaced andf the govt gets stakes in those banks. I don't think they should go to jail. Wall Streeters who packaged and sold these loans and lied , they should be on trial. Death penalty ? I hope you are kidding. That should be only for acts of violence.
The problem is that upper management makes egregious sums of money booking short-sighted gains, while consciously demolishing the company long-term. Then when the shit hits the fan, they've already made their money and they leave shareholders holding the bag. Now leaving shareholders holding the bag is bad enough... but I lack sympathy because as an investor you're supposed to buy when prospects look good and sell when they don't.... but when you get taxpayers on the hook you've crossed the line. To discourage this short-sighted behavior you need to penalize it to set an example for other executives and managers. Upper management at these companies should go to jail.
How can you not LOVE this market crash??? If you know how to trade you will have made MINIMUM 100% profit on your account capital sicne this started!! lol This volatitkly is the best ever!! especially when amrket was crahsing, all you had to do was short oil or with bg stoploss and you make 10000s