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Tag(s): Bankruptcy; Dollar; Taxpayers; Wall Street
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October 9, 2008 at 01:41:13

Promoted to column top on 10/9/08:
Why Wall Street CEO's Must Go To Jail And Payback Billions In Bonuses

by waronyou Page 1 of 1 page(s)

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“The truth is, through criminal neglect and competence, the people at the
top of these firms chose to look away, to take more risk, to enrich themselves
and to put shareholders and indeed, the country itself and the country’s
economy at risk. It is truly not only a shame, it is a crime” - 60 Minutes

Forget the blame game, forget the justified rants of anger. US taxpayers were asked to risk $700 Billion for a Wall Street bailout that may not even work - but do they really know why?

The rest of the world has been swept up in this crisis, with citizens all over the world afraid their banks are going to shut down - but do they really know why?

I’ll get to the why in a second.

In the meantime, as the world sweats, CEO’s at Lehman, Bear Stearns, AIG, Fannie, Freddie, etc., etc. each walked away with tens and even hundreds of millions of dollars in cash and stock. Lehman CEO, Richard Fuld, himself walked away with $480,000,000 (yes, 480 million) since 2000. That equates to $60,000,000 per year for a guy that drove Lehman into bankruptcy and significantly contributed to the current crisis.

Yes, Fuld “feels horrible about what happened” but I suspect $480,000,000 goes a long way towards treatment of his horror.

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7 comments

Stanimal is ???

I hear cries for freedom elsewhere, while the US becomes less so. I hear support for free markets, then demanding a bailout due to incompetence.
I roll my eyes at those that accuse others being oppressed while the US has and still continues to the same and much worse. Laughing at pinheads who purchase and profit from those they curse.

Every time I return to visit I see a country I no longer recognize. A shredded Constitution, a spineless Congress ...

to see more of bio, click on member name
StanimalStanimal is ???

I hear cries for freedom elsewhere, while the US becomes less so. I hear support for free markets, then demanding a bailout due to incompetence.
I roll my eyes at those that accuse others being oppressed while the US has and still continues to the same and much worse. Laughing at pinheads who purchase and profit from those they curse.

Every time I return to visit I see a country I no longer recognize. A shredded Constitution, a spineless Congress ...

to see more of bio, click on member name

Less than a week after AIG was bailed out,

its executives went on a nearly half million golfing retreat.

These people just will rob anybody blind, they have not one ounce of moral fiber amongst them. This includes the entire former and current Bu$h cabal, its accomplices in Congress and all those who are profiting from this transfer of wealth.

How can they live with themselves knowing the travesty and destruction to innocent hard working people they have/are causing.

They truly only worship the alter of greed.

by Stanimal (0 articles, 4 quicklinks, 23 diaries, 668 comments) on Thursday, October 9, 2008 at 5:16:59 AM

I am a disabled man living in northern California who cares more about the future of our country than about party affiliation. I am distressed over the downward spiral in our social and political culture.
JOHN LORENZI am a disabled man living in northern California who cares more about the future of our country than about party affiliation. I am distressed over the downward spiral in our social and political culture.

You are right...and what's more:

John McCain was right in the thick of this mess with his palling around with Phil Gramm and his trumpeting of deregulation, which he now tries to evade and minimize while he tries to blame-shift it onto Obama.

This crooked weasel needs to me forced to own up to his ;part in all this instead of being allowed to reinvent himself as some kind of 'white knight' that shows (phony) outrage at Wall Street. He's the one that let the Wall Street horses out of the corral and helped them run wild.

by JOHN LORENZ (17 articles, 89 quicklinks, 63 diaries, 211 comments) on Thursday, October 9, 2008 at 8:21:42 AM

I am a conservative independant. I believe in the Constitution of the United States.
Jay TimminsI am a conservative independant. I believe in the Constitution of the United States.

You are right

McCain was in the thick of all of this, but so was Obama. Neither of these candidates has done anything but enrich their buddies and themselves. Both sides are at fault and both candidates are in it with the rest of the crooks. Time for "We the People" to tell these low life scum sucking clowns that the game is over. We want our country and our money back. IMPEACH, RECALL AND JAIL as many of these crooks as we can. If all americans would for once not vote for either party, this would send a message like never before. But alas, the sheep will jump off the mountain together.

by Jay Timmins (0 articles, 0 quicklinks, 0 diaries, 103 comments) on Thursday, October 9, 2008 at 4:48:03 PM

I am a Crowned Anarchist, socialist, feminist, poet, writer and vegetarian. I left America seven years ago because I wasn't going to become a victim of the hidden holocaust (http://hiddenmurder.blogspot.com) Industry was downsizing so society was, too.

I earned four university degrees to become one of the legions of workers that industry finds redundant and American society finds as "useless eaters." Born from a lower tier of society, all I ever did was live in the gutter in Amer...

to see more of bio, click on member name
Martha Rose CrowI am a Crowned Anarchist, socialist, feminist, poet, writer and vegetarian. I left America seven years ago because I wasn't going to become a victim of the hidden holocaust (http://hiddenmurder.blogspot.com) Industry was downsizing so society was, too.

I earned four university degrees to become one of the legions of workers that industry finds redundant and American society finds as "useless eaters." Born from a lower tier of society, all I ever did was live in the gutter in Amer...

to see more of bio, click on member name

Don't Forget Henry Paulson Walked Away from Lehman Brothers

With a bundle (almost half a billion). Ironic he should be the head fox guarding the chicken coop including protecting Lehman Brothers at the same time.

by Martha Rose Crow (2 articles, 0 quicklinks, 0 diaries, 34 comments) on Thursday, October 9, 2008 at 9:07:21 AM

I have achieved nothing of consequence apart from raising children in a way that they would excel where I failed. And they are on good tracks.
ramsheyiI have achieved nothing of consequence apart from raising children in a way that they would excel where I failed. And they are on good tracks.

Going To Jail Won't Change Anything

They will come out months later with their bank accounts intact and will go on with business as usual. These criminals must be tar and feathered, lynched and torn and shorn into pieces in public view and their body parts thrown into cesspools where they come from and where they deserve to end up. They have no pity for the populace. Why should the public be lenient with them ?

by ramsheyi (0 articles, 0 quicklinks, 0 diaries, 522 comments) on Thursday, October 9, 2008 at 10:40:09 AM

Rolland (Ron) Miller is a free enterprise socialist leaning financier in his mid 60's currently working as a Realtor at Re/Max in Powell River, Sunshine Coast, British Columbia, Canada. I moved here for quality of life in 2004 from Vancouver where I was born and carried on my financing and consulting business of large Residential and Commercial Real Estate projects across Canada, USA, and China since 1974 after excelling in the corporate world as a lender. I believe balance is the key word.
Rolland MillerRolland (Ron) Miller is a free enterprise socialist leaning financier in his mid 60's currently working as a Realtor at Re/Max in Powell River, Sunshine Coast, British Columbia, Canada. I moved here for quality of life in 2004 from Vancouver where I was born and carried on my financing and consulting business of large Residential and Commercial Real Estate projects across Canada, USA, and China since 1974 after excelling in the corporate world as a lender. I believe balance is the key word.

Why Wall Street CEO's Must Go To Jail And Payback Billions

Throw them in jail for FRAUD, and fine them all they earned. plus huge penalties.

I spent my career as a financier and I can tell you that everyone knew this was fraud, as the securities were rated as Triple A rather than Poor Quality, and then sold to the world.

They rewarded themselves with obcene bonuses, and salaries.

by Rolland Miller (1 articles, 0 quicklinks, 0 diaries, 87 comments) on Thursday, October 9, 2008 at 12:10:26 PM

Retired. Male. Western Minnesota. Social Science/Spanish undergrad majors. Master's in Counseling. Socialist.
Bryan EmmelRetired. Male. Western Minnesota. Social Science/Spanish undergrad majors. Master's in Counseling. Socialist.

Wall Street CEO's

I think that the Wall Street thieves should be jailed and all their ill gotten property confiscated and they should be required to reveal and hand over all off-shore funds they have stashed in the Caymans or Switzerland or whereever. Those who refuse to cooperate can meet a firing squad. They have been engaged in class warfare for many years and we have been too stupid to realize what has been done to us. Now we need to get into the fight and get our tax money back.

In the meantime, we should conduct war crimes tribunals and snag the fools who steered us into their "war of adventure" in Iraq just to line their pockets as well.

by Bryan Emmel (0 articles, 0 quicklinks, 0 diaries, 218 comments) on Friday, October 10, 2008 at 3:52:08 AM