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| Economy |
| Where are the subprime perp walks? |
| 2009-09-21 |
| NEW YORK (Fortune) -- Where are the perp walks for the subprime mortgage executives that dragged us into this mess? Three years after the housing bubble popped, federal prosecutors have yet to bring a case against the executives whose firms took part in some of the worst excesses of the subprime mortgage market. It's not like there's a shortage of abuses to investigate. The landscape is littered with the wreckage of financial institutions that crashed under the weight of bad loans, costing shareholders and taxpayers billions of dollars. "Many" lenders that went bust were cooking their books before they collapsed, according to a 2007 FBI report. Meanwhile, top officers at many mortgage shops were pocketing hefty paychecks and stock sale proceeds. |
| Posted by:Penguin |
| #4 The perps you want are still in office. |
| Posted by: Iblis 2009-09-21 14:49 |
| #3 Governments control the amount of credit in the economy via reserve requirements for banks. Governments LOVED the extra revenue they got from taxing all the credit they created, by removing reserve requirements. The "small" price to pay is a ruined economy, a zombie banking system, massive corruption and political cronyism. |
| Posted by: Bright Pebbles 2009-09-21 07:29 |
| #2 Not like Bush would have been any better. He allowed these fuckheads to loot our economy. Actually, he was only a tool, the big money players transcend petty politics. Why have there been no arrests? Because the inmates are in charge of the asylum. |
| Posted by: gromky 2009-09-21 04:45 |
| #1 The present administration is too busy investigating the CIA to bother with trivial matters like the loss of a few trillion dollars to the economy. |
| Posted by: Anguper Hupomosing9418 2009-09-21 02:09 |