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Did you miss the part about the revolving door? There are no legal issues because the ones that need to make sure everything is happening legally are bankers th

by ddkrone 16y ago

Did you miss the part about the revolving door? There are no legal issues because the ones that need to make sure everything is happening legally are bankers themselves or close friends of ones. So you standing there and saying "I see nothing legally wrong with this so therefore it's not criminal?" is one of the many reasons bankers continue to defraud common main street investors.

brc 16y ago
Look, I completely agree with you that the laws are written in favour of the bankers, and that is something that needs to change. But you cannot lock people up unless they have broken the law. When many people took action, they did so knowing they weren't breaking any laws. You can retrospecitvely lock them up. Change the law, if necessary, but to call people criminal is wrong.
- rapind 16y ago
  Yeah, you pretty much need to change the laws, rebuild the regulatory bodies, and vastly increase the penalties for white collar crimes. Then do it all over again in 30 years. I do think there should be a law that allows you to lock people up retrospectively though based on their degree of douchebaggery.
  - stretchwithme 16y ago
    The government could stop insuring bank deposits and mortgages. If savers and investors truly thought they could lose their capital, they examine risks a lot more carefully. Life is full of risks and we must consider them. Selecting a group of people who have no financial stake in the outcome to decide what risks should be taken seems unwise. Especially when they can be paid to look the other way. Sure we can hand our thinking to other people. But that might lead to disaster. Oops.
  - Retric 16y ago
    You don't need new laws for most of this stuff. Selling crap that you know is crap as AAA security's is simple fraud.
- brc 16y ago
  agh - can retrospectively lock them up should be cannot retrospectively lock them up. I wish I could blame iphone but just bad typing

by ddkrone 16y ago

brc 16y ago

Look, I completely agree with you that the laws are written in favour of the bankers, and that is something that needs to change. But you cannot lock people up unless they have broken the law. When many people took action, they did so knowing they weren't breaking any laws. You can retrospecitvely lock them up. Change the law, if necessary, but to call people criminal is wrong.

rapind 16y ago
Yeah, you pretty much need to change the laws, rebuild the regulatory bodies, and vastly increase the penalties for white collar crimes. Then do it all over again in 30 years. I do think there should be a law that allows you to lock people up retrospectively though based on their degree of douchebaggery.
- stretchwithme 16y ago
  The government could stop insuring bank deposits and mortgages. If savers and investors truly thought they could lose their capital, they examine risks a lot more carefully. Life is full of risks and we must consider them. Selecting a group of people who have no financial stake in the outcome to decide what risks should be taken seems unwise. Especially when they can be paid to look the other way. Sure we can hand our thinking to other people. But that might lead to disaster. Oops.
- Retric 16y ago
  You don't need new laws for most of this stuff. Selling crap that you know is crap as AAA security's is simple fraud.
brc 16y ago
agh - can retrospectively lock them up should be cannot retrospectively lock them up. I wish I could blame iphone but just bad typing