What is Digg?32 Comments
- inactive, on 10/31/2008, -0/+16Good. And about time.
- inactive, on 10/31/2008, -0/+8Rich millionaires lying about important financial information for their own gain?? GET OUTTA HERE, BURIED AS INNACURATE LOL, COULD NEVER HAPPEN.
- BoxAdorable, on 10/31/2008, -0/+7Oh god, how embarrassing to have misspelled the first comment. Sorry!
- moses141, on 10/31/2008, -1/+7Now if only to the American people could sue the Treasury for saying the economy was in fine shape a few months ago.
- edstate, on 11/01/2008, -0/+4You ARE kidding, right?
- AlienMushroom, on 10/31/2008, -0/+4Nail them down, one by one.
- vsujohn2, on 10/31/2008, -0/+4The fundamentals of our economy are strong.
- toetagger, on 10/31/2008, -0/+4He should be knee-capped.
- edstate, on 11/01/2008, -0/+3No. Look at what CAUSED this. Carefully.
CRA-HUD-F&F-GlassStegall-AlanGreenspan-WallStreet
No one would argue that these douchebag firms didn't go absolutely nuts. The problem is that most of what they, and others like them did... was LEGAL.
Well, except for lying to their customers. And of course the AAA ratings from the ratings agencies.
But the rest of it... ALL the rest of it... was legal because THE GOVERNMENT MADE IT LEGAL. The Government set it up, and Wall Street knocked it out of the park. - AlaskaLoneWolf, on 10/31/2008, -4/+7...wow, ERON part deux.
- u8myfoood, on 10/31/2008, -1/+3So what, they will just print out more money to pay for the settlements.
- mountainweb, on 11/01/2008, -0/+2Jail time would be the correct action for these scum.
- kaelyiesta, on 10/31/2008, -1/+3This is how the government should interact with business. Not regulation, not collusion, but oversight. While the first two just give government the power to ***** us in place of business, the third puts the two more directly at odds.
Like people, business shouldn't be slaves of our government. They should be held accountable for illegal behavior. That's the difference. - sizzzzlerz, on 10/31/2008, -1/+2I wonder what his year end bonus, paid for from the $700B bailout, will be? Hopefully, he'll get to keep his summer house in the Hamptons from it.
- xpope, on 10/31/2008, -0/+1Another one bites the dust... "appropriate song in the elevator up to the Courtroom Fellas"
- thereisnostate, on 11/01/2008, -0/+1Who's going to sue the Federal Reserve for being the root of this whole financial mess.
- thurows, on 11/01/2008, -1/+2There goes a couple billion to legal defense teams.
- anarcurt, on 11/01/2008, -0/+1Bear Stearns is not involved in the bailout. They were bought out by Chase in March.
- PopcornDave, on 11/01/2008, -0/+1Draw and quarter them with Bentleys.
- AnarchoGoth, on 10/31/2008, -2/+3Godless Killing Machines
- anarcurt, on 11/01/2008, -0/+1Title is misleading. They are sued about the health of a Hedge Fund not the whole company. They are being sued by Bank of America who are even bigger ***** suckers.
Also, Bear Stearns has NO BAILOUT MONEY!. They were bought out in March. If anything Bank of America is spending their bailout on lawyers. These people deserve jail but do not confuse this for some victory for the common man. This issue is just rich people ripping off rich people. - Tamriel, on 11/01/2008, -0/+1Yeah. You suck.
- Dumbledorito, on 11/01/2008, -2/+2Hi, there. Apparently you're still laboring under the false assumption that business doesn't buy the "regulation" they get, nor do they promise lawmakers and regulators contributions, positions with their companies after their term is up, and so forth.
Blaming just something called "government" takes the power behind the ***** out of the equation. - losinggamebook, on 11/02/2008, -0/+0The only winner in this suit will be the lawyers on both sides. The press will use this as an example of how the "Fat Cats" are getting theirs, when this is a drop in the ocean in addressing the greed on Wall Street.
- inactive, on 11/01/2008, -2/+2The banks have $700 Billion in free cash. It would be stupid not to sue them now, since they are cash rich.
- gkiltz, on 11/01/2008, -0/+0Just keep in mind: It's a huge leap from being right to winning a lawsuit, and a bigger one still from winning a lawsuit to collecting any money!
This type of thing turns into a jobs program for lawyers real fast!!
There are usually better ways to compensate customers, and still screw the pension funds that were the big bad investors! - pagalchu, on 11/01/2008, -1/+0Your statement should read....
"The fundamentals of our economy are strong my friends" - iloveobama, on 10/31/2008, -4/+3This is what is wrong with capitalism. If the government controlled these companies then nothing would go wrong.
- Dumbledorito, on 11/01/2008, -5/+1One of the big things I keep hearing from Libertarians about a "free market" is that somehow, the people will be well-informed about bad business practices and evil acts by CEOs and politicians, and will use their money and votes accordingly. However, this crisis shows there's no remedy when everyone involved lies or believes lies in an environment where there was little to no regulation whatsoever. Credit default swaps (allowing multiple people to, in essence, bet on whether or not a business will fail, resulting in astronomical sums being owed by companies like AIG), leveraged derivatives, hedge funds and so on have little restraint on taking huge risks that threaten the greater economy, and do so without any actual "free market" fear of failure, as they've got enough hooks in government to get taxpayer funds to bail themselves out.
And before anyone starts "b-b-but Freddie and Fannie," look at the percentage of this crisis they make up. It's barely a drop in the bucket compared to the non-bank "banks" that ***** each other over and just now realized they're all untrustworthy crooks. - inactive, on 11/01/2008, -6/+0………………….._,,-~’’’¯¯¯’’~-,,
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