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Such a great land we live in where a CEO is investigated within weeks by criminal justice agencies for making a few tweets, but during the 2008 crisis other kin
by Timmah 8y ago
Such a great land we live in where a CEO is investigated within weeks by criminal justice agencies for making a few tweets, but during the 2008 crisis other kinds of fraud (approving loans without verifying income, robo signing of "contracts") that cost people jobs, homes, and even lives, got CEOs unprecedented bonuses and billions in interest free loans to keep their ships afloat. God bless the USA.
- gamblor956 8y agoThe CEO in question may have violated multiple state and federal laws. The problem during the crisis was that many of the things you listed weren't illegal because the laws and regulations that would have made them illegal had been rescinded in the years or decades prior. Thus, the CEOs got to keep their jobs and their bonuses and their freedom because even though what they were doing was highly immoral, it wasn't illegal.
- Timmah 8y agoLaws that exclusively protect shareholders. That's the problem. And most of the population doesn't have the resources to lobby Congress to roll back those laws the way financial laws were rolled back. The fault for that inequality lays squarely on our nation.