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Who exactly should've gone to jail over the 2008 financial crisis? Something bad having happened does not automatically mean that someone did something wrong.
by edanm 10y ago
Who exactly should've gone to jail over the 2008 financial crisis? Something bad having happened does not automatically mean that someone did something wrong.
- johncolanduoni 10y agoAnd "something wrong" and "something illegal" are not always the same.
- jjeaff 10y agoPeople don't like to hear it, but some of the biggest perpetrators were lower level employees at mortgage mills that were lying on mortgage applications and putting false information on them to get them approved. While in some cases it may be that the executives were specifically instructing employees to lie on this way, most likely they were just being far too overzealous and putting too much pressure on the employees. Additionally, people who lied on their mortgage applications were also to blame. Then of course at the top on the securities side, there were those that knew about these shady practices but went ahead anyway. So ya, some execs should be on jail probably, but even more low level sales guys and sub prime borrowers should as well.