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This line at the end is the most frustrating: > But they still don’t seem to grasp what’s been lost, or why. It’s easy to dismiss the disappearance of factory

This line at the end is the most frustrating: > But they still don’t seem to grasp what’s been lost, or why. It’s easy to dismiss the disappearance of factory jobs as a past misstep—with a “we’re not getting those jobs back” and a sigh. Then again, you can’t know that for sure if you never try. If there is one thing that Obama did that was vital to the US it was saving of the automotive industry in 2008. He did this in spite of the "learned" economic experts saying otherwise. Too bad, he didn't ignore them with the banks and jail the bankers.

azemetre 8y ago
The issue with jailing bankers is that nothing they did was illegal. It was highly immoral but we don't jail people for being immoral (they do in some countries). If you want to jail bankers in the future, supporting institutions like Consumer Financial Protection Bureau and electing politicians that want to pass more strict laws is the only way to accomplish what you want. In this diametric political climate we have one party that is gutting the CFPB by installing leaders that are pro-finance/banking industry and rolling back protections under the guise of "not being fair."
- pm24601 8y ago
  > The issue with jailing bankers is that nothing they did was illegal. They were never investigated. Looking back to earlier banking meltdowns, plenty of crimes were discovered. See for just such an example: https://en.wikipedia.org/wiki/Savings_and_loan_crisis https://en.wikipedia.org/wiki/Savings_and_loan_crisis It is a perfectly reasonable to suspect that similar crimes were also committed. You could also look at the court cases at : http://4closurefraud.org/ http://4closurefraud.org/ Many of the foreclosure cases involve banks not being able to demonstrate that they actually had standing to foreclose on houses. For example: http://4closurefraud.org/2018/02/09/fl-3rd-dca-reverses-ruling-that-found-hsbc-forged-mortgage-documents/ http://4closurefraud.org/2018/02/09/fl-3rd-dca-reverses-ruli...

azemetre 8y ago

The issue with jailing bankers is that nothing they did was illegal. It was highly immoral but we don't jail people for being immoral (they do in some countries). If you want to jail bankers in the future, supporting institutions like Consumer Financial Protection Bureau and electing politicians that want to pass more strict laws is the only way to accomplish what you want. In this diametric political climate we have one party that is gutting the CFPB by installing leaders that are pro-finance/banking industry and rolling back protections under the guise of "not being fair."

pm24601 8y ago
> The issue with jailing bankers is that nothing they did was illegal. They were never investigated. Looking back to earlier banking meltdowns, plenty of crimes were discovered. See for just such an example: https://en.wikipedia.org/wiki/Savings_and_loan_crisis https://en.wikipedia.org/wiki/Savings_and_loan_crisis It is a perfectly reasonable to suspect that similar crimes were also committed. You could also look at the court cases at : http://4closurefraud.org/ http://4closurefraud.org/ Many of the foreclosure cases involve banks not being able to demonstrate that they actually had standing to foreclose on houses. For example: http://4closurefraud.org/2018/02/09/fl-3rd-dca-reverses-ruling-that-found-hsbc-forged-mortgage-documents/ http://4closurefraud.org/2018/02/09/fl-3rd-dca-reverses-ruli...