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Why Isn't Wall Street in Jail? This is probably one of the best articles I have read about Wall Street and why the clowns in charge are not in jail in probably, ever. I and many others have wondered why the guys that came up with bogus “derivatives and CDOs” have not been prosecuted for the huge scam they ran on not just America, but the world. This article, may have the answer. The better question is if we as a society, are willing to put up with it. Sadly, I think the answer is yes because the political class has no interest in seeing the Wall Street types punished for their misdeeds.
It isn't Wall St's fault, it's the government's. You force banks to give home loans to welfare recipients, the banks know full well that they will default, so in order to save their butts they do questionable practices with Wall St. financiers in order to not lose everything. This is 100% the government and their stupid fell-good, give houses to poor people regulations fault.
It isn't Wall St's fault, it's the government's. You force banks to give home loans to welfare recipients, the banks know full well that they will default, so in order to save their butts they do questionable practices with Wall St. financiers in order to not lose everything. This is 100% the government and their stupid fell-good, give houses to poor people regulations fault.
That is kind of the point the article makes. I particularly like where he points how the SEC is where investigations go to die because there is a revolving door between the SEC and Wall Street firms. You are right in that it is the government letting these clowns get away with the stuff they have pulled. Then again, the weasel bankers have a responsibility to not be thieves and fraudsters too, I think. Thinking about it, that probably an insult to weasels, to call the bankers weasels.
