If Iceland Sent Bankers To Jail Why Can't The United States?

by **Mad hatters in jeans** » Mon Jun 27, 2016 2:16 am

Either the police are bribed or the courts are bribed or they stack up on small armies of lawyers.

They're untouchable.

by **Freefall11111** » Mon Jun 27, 2016 2:16 am

Mad hatters in jeans wrote:Either the police are bribed or the courts are bribed or they stack up on small armies of lawyers.

They're untouchable.

Or you're just wrong. Wild idea, I know.

by **Mad hatters in jeans** » Mon Jun 27, 2016 2:20 am

Freefall11111 wrote:
Mad hatters in jeans wrote:Either the police are bribed or the courts are bribed or they stack up on small armies of lawyers.

They're untouchable.

Or you're just wrong. Wild idea, I know.

I hope so.

by **Freefall11111** » Mon Jun 27, 2016 2:21 am

Mad hatters in jeans wrote:
Freefall11111 wrote:Or you're just wrong. Wild idea, I know.

I hope so.

Occam's razor. It's far more likely that bankers simply didn't do anything illegal rather than having a giant cover-up involving the entire judicial system.

by **Mad hatters in jeans** » Mon Jun 27, 2016 2:28 am

Freefall11111 wrote:
Mad hatters in jeans wrote:I hope so.

Occam's razor. It's far more likely that bankers simply didn't do anything illegal rather than having a giant cover-up involving the entire judicial system.

So Iceland can find Bankers who committed crimes but America where the crisis started haven't done a single thing illegal?

by **Freefall11111** » Mon Jun 27, 2016 2:29 am

Mad hatters in jeans wrote:
Freefall11111 wrote:Occam's razor. It's far more likely that bankers simply didn't do anything illegal rather than having a giant cover-up involving the entire judicial system.

So Iceland can find Bankers who committed crimes but America where the crisis started haven't done a single thing illegal?

Laws are different in different countries, you know.

by **Wisconsin9** » Mon Jun 27, 2016 2:31 am

Because they bought the politicians who wrote the laws that let them get away with wrecking the economy.

by **Victoria and Vacuna** » Mon Jun 27, 2016 2:46 am

Risottia wrote:
(Image)
THAT GOVERNMENT
OF THE BANKS
BY THE BANKS
FOR THE BANKS
SHALL NOT PERISH FROM THIS EARTH

One little determiner is all you needed.
:lol2:

anyways.

by **Victoria and Vacuna** » Mon Jun 27, 2016 2:46 am

Wisconsin9 wrote:Because they bought the politicians who wrote the laws that let them get away with wrecking the economy.

metagaming: the ultimate in winning games

by **Chestaan** » Mon Jun 27, 2016 3:58 am

Arcipelago wrote:Maybe because they didn't commit a crime? Despite what many people think most bankers are probably good people, and in general when you make money from them, they get more business.

Most bankers? Maybe. But then you got the likes of Goldman Sachs...

by **Ethel mermania** » Mon Jun 27, 2016 4:05 am

The Alma Mater wrote:
Ethel mermania wrote:
not really, its up to the bond raters to rate the bonds and determine their status. they were rated AAA and not junk (as it should have been). the banker is allowed to advertise the rate as AAA, if that is what it gets

Even if the banker is well aware they are not AAA, are mass-dumping them themselves and use their influence with the bondraters to postpone a rating adjustment until their dumping is complete ?

If you can prove the bankers unduly influenced the raters, you might have a case.

by **Pope Joan** » Mon Jun 27, 2016 5:18 am

Great idea. Soaking them with fines and penalties will not hurt them in any way.

So make it personal and make it hurt.

by **Pope Joan** » Mon Jun 27, 2016 5:23 am

Chestaan wrote:
Arcipelago wrote:Maybe because they didn't commit a crime? Despite what many people think most bankers are probably good people, and in general when you make money from them, they get more business.

Most bankers? Maybe. But then you got the likes of Goldman Sachs...

Goldman Sachs has a revolving door with government, they change hats from regulator to finance industry cog and back with amazing eaae, in and out, and sometimes in and out a second time. Treasury, SEC, Federal Reserve.

http://www.huffingtonpost.com/news/gold ... ving-door/

https://www.thenation.com/article/why-d ... l-reserve/

by **PaNTuXIa** » Mon Jun 27, 2016 5:24 am

Because bankers finance most of the US's politicians. If they sent the banksters to jail, they would lose a lot of SuperPAC money, and probably not get re-elected. Let's not forget that most of the big banks have already infiltrated the government, and the revolvers will block any attempt at jailing their bosses. Or sometimes, they are the bosses! (i.e. Henry Paulson.)

by **The Alma Mater** » Mon Jun 27, 2016 8:41 am

Ethel mermania wrote:
The Alma Mater wrote:
Even if the banker is well aware they are not AAA, are mass-dumping them themselves and use their influence with the bondraters to postpone a rating adjustment until their dumping is complete ?

If you can prove the bankers unduly influenced the raters, you might have a case.

Just to make certain: you are saying that in the USA bankers do not have an obligation to inform their clients if they suspect or know the ratings are wrong - and are in fact actively acting on that by dumping ?
Because in Europe they have. *Personally* in fact. Have to take an oath and everything.

Which, I guess, answers the OPs question.

by **The Liberated Territories** » Mon Jun 27, 2016 8:45 am

Freefall11111 wrote:
The Liberated Territories wrote:
Eh no, the bankers committed fraud - and fraud is illegal. Of course the real problem is the government setting up the stage for this type of fraud and then ignoring it happen.

Which bankers committed fraud?

All of them

by **FutureAmerica** » Wed Jun 29, 2016 4:24 am

because US bankers have better lawyers than the Feds

If Iceland Sent Bankers To Jail Why Can't The United States?

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