Jail For Bankers As A Christmas Present?
The Market Ticker ® - Commentary on The Capital Markets
Posted 2010-12-14 18:48
by Karl Denninger
in Foreclosuregate
Ignore this thread
Jail For Bankers As A Christmas Present?
 

Hope springs eternal...

The leader of a nationwide investigation of foreclosure fraud told homeowners Tuesday that the probe will have some serious consequences for bankers.

"We will put people in jail," Iowa Attorney General Tom Miller said, according to homeowner advocates present at the meeting in Des Moines.

I don't believe it.

But - if we actually see people get indicted - and not just foreclosure mills but also banks - big banks - I'll be officially impressed.

It will also be the first time since this mess blew open in 2007 that I've seen any indication of prosecution of people who did evil (and illegal) things.

Let me say this very clearly to the advocates: do not believe a damn thing until you see actual indictments and they are either corporate indictments of the large banks OR are aimed at their officers.

If all we get are low-level "robosigner" indictments then we get nothing.  Those people may indeed have broken the law but they didn't do it on their own - they were paid to break the law, and when you enter into a conspiracy to do an unlawful thing everyone involved is equally culpable.

There are hundreds if not thousands of people in prison for driving someone to the bank for the purpose of robbing it.

This is no different, except it was you, the citizen, that got robbed.

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User Info Jail For Bankers As A Christmas Present? in forum [Market-Ticker]
Randy123
Posts: 5789
Incept: 2008-09-24
Green
Earth
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Mozillo can save himself....see Mark Madoff.

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China is the Enemy. Wake Up.

New Normal. Same As The Old Awful.
Txin1880
Posts: 4737
Incept: 2009-02-25
Green A True American Patriot!
Texas
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Merry Christmas Banksters!

inline

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Realization - Rage - Resolve - Rifles - Rope - Recovery - Rinse - Repeat
Azusgm
Posts: 2430
Incept: 2010-12-02
Green
East Texas
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This is the guy who wants to strike a deal with the banks.

Prosecute. Forget the deals - prosecute. I called my state AG's office twice about this.

Proudly and vigorously prosecute and give no quarter. Smell the blood and go after the bankers.
Lordhumongous
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Incept: 2008-09-29
Green
USA
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@Txin: Unfortunately I predict a steady diet of smiley.
Truthseeker
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Incept: 2007-10-07
Silver A True American Patriot!
NorCal
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Hope DOES spring eternal. And NOTHING would make my Christmas merrier than to see some sign that the rule of law was going to be applied. We'll see...

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"...But people better realize that the worst-case scenario could actually happen.9/11 happened. This can happen. An economic 9/11, the likes of which we've never seen." Gerald Celente
End_the_bubbles
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The New 3rd World
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Quote:
There are hundreds if not thousands of people in prison for driving someone to the bank for the purpose of robbing it.

This is no different, except it was you, the citizen, that got robbed.

No, it's actually a LOT different. It was something that hurt hundreds of millions of people and it was done intentionally. This has ruined countless lives.

The "loot" stolen by these frauds was exponentially greater than all gun-point bank heists combined times a million. The Fraud was also supported by a corrupt Fed, Treasury and every branch of US Gov't. Locking people up now is meaningless.

It's time to start talking about Guillotines & Nooses, particularly as we will be subjected to hearing of another round of massive bonuses for these putrid vermin thieving crooks.

They shouldn't be getting PAID, they should be getting HUNG!

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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
Quietrally
Posts: 40
Incept: 2009-06-10
Green
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From my own experience, I can tell you the Colorado Attorney General has no interest in pursuing criminal indictments against any officer of any bank. He supposedly authored a book on white collar crime. I guess it acts as more of a historical reference for him than a call to action.

None of the kingpins are going to prison. Only a token number of minions.

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D+(R/Tea Party ) = Same Outcome
End_the_bubbles
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The New 3rd World
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Quote:
He supposedly authored a book on white collar crime. I guess it acts as more of a historical reference for him than a call to action.

Or a "How-To" manual.

Is this the title?

"Guidebook on how to commit White Collar Fraud"
Foreword by Michael Milken and Charles Keating

Or maybe
"White Collar Crime for Dummies"
By James J. Cramer

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In the long run even the most despotic governments with all their brutality and cruelty are no match for ideas. Eventually the ideology that has won the support of the majority will prevail and cut the ground from under the tyrant's feet and rise in rebellion to overthrow their masters.
Azusgm
Posts: 2430
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Green
East Texas
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As a proud Texan and taxpayer in Harris county, I'd like to offer the Harris county court complex in downtown Houston as a venue for prosecuting banksters. Our courts have standing on state and federal counts of crimes committed against Harris county residents. Enron top dogs got sentenced to prison by Houston courts, although for insuffient time. Andy Fastow is still in the slammer. Our courts are almost continuously the distant gold medal winners in the race for the most executions. As one person suggested, the Harris county courts don't need an electric chair. What Harris county needs is an electric couch.

We're very accomodating folks. So why don't you banksters come on down for a friendly meet up with a few Houston juries.
Quietrally
Posts: 40
Incept: 2009-06-10
Green
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@End_the_bubbles... That was quite funny! You too Azusgm.

I think Texas would be a fine venue for the banksters. Maybe hold the tribunals at the Alamo?

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D+(R/Tea Party ) = Same Outcome

Bhakta
Posts: 71
Incept: 2009-12-03
Silver
Bangkok, Thailand
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I believe almost everyone in the world would celebrate big time if the frandsters were jailed or put in an electric chair. Not only in the USA, but worldwide they have run their same games and destroyed the future of billions of simple people.


Unfortunately, since they print the money whenever and as much as they want, they are purchase the services of almost everyone, everywhere.

Is this going to change?
Popothebright
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Green
Bangkok
Banned
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For justice to be served there would need to be literally THOUSANDS of bank executives thrown in jail. They willfully and knowingly committed fraud which cost America and the American taxpayer trillions of dollars in damages.

He knows it, and he is lying when he says there will be justice.

...which means Miller too, is committing fraud.

When legal systems systemically protect fraud, are inflexible, exist in opposition to the public, exist to the detriment of the public, and prevent the preservation of justice -- history tells us there is ultimately only one answer and only one outcome. (And it's bloody).

The fate of America will ultimately fall on the lower courts. They had better get this right.

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In America the choice of political party is little more than a choice of which corrupt management team implements the corporate agenda.
Dtlgc
Posts: 936
Incept: 2007-11-26
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Texas
Online
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Could we get a tax evasion trial set for Rangel while we are at it...

http://nlpc.org/stories/2010/12/02/we-we....

smiley
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