The best way to rob a bank-own one! Why aren't these CEO's in jail?!!!!! We would have a better financial system if criminal CEO's suffer the consequences of their actions.
So, why haven't Vikram Pandit and Gary Crittenden been charged with committing a felony for violating of Sarbanes Oxley regulations which Croft clearly establishes?
Perhaps they know **** on others higher up who have leverage over regulators....
We will have a honest banking system right after those bank CEO's who were/are involved in Fraud go to Prison. Civil suits mean absolutely NOTHING to crooked CEO's.
It's either 85 degrees in that room and he's on cocaine or the head of the department of justice is lying. He's sweating profusely towards the end of the video, he's blinking like a mad man and twitching so much he looks like he has tourettes.
Great article. I have to ask what would happen to an ordinary American had they done the same things in their dealings with a big bank? Next I have to ask why the same rules and penalties don't apply to the powerful and politically connected. We have to return the teeth to Glass-Seagall and rollback banking regulations to pre-1980 standards; and we must aggressively enforce both. In the meanwhile, I am sure there are plenty of ways to hold them accountable today, just look to the Attorney's General of the States which are bringing meaningful actions TODAY.
I can't believe we haven't seen any of the 1% doing the perp walk for their crimes. I refuse to believe it takes years to prosecute or bring a case forward. There has to be willful neglect when 60 MINUTES can dig out what they did in 9 short months. These creeps nearly destroyed our country yet they are all out of jail spending the money they stole from investors, homeowners and others. And still they are getting big fat bonus payments for raping the system and the public. I am outraged!
They neglected to mention there is a current multi-state settlement negotiation which in addition to a derisory amount will include immunizations for most of the individuals discussed. Only a few state attorney generals stand in the way of the fraudsters getting away clean.
Do you have a link to this? I would be very interested to hear about it. My first reaction to reading this article was that congress would convene a snap hearing before the opening of any trial on the subject and those involved would get the Oliver North blanket immunity treatment in return for spilling the beans about their malfeasance. In addition a big shout out to the AG of New York who was standing up to the Obama Administration and the gang of AGs who are trying to let this thing die a quiet death.
Taibbi wrote an outline of the negotiation called The Next Big Bank Bailout. CA, NV and NY AGs are balking at the numbers, but insiders seem convinced when the banks consider individual lawsuits from all 50 states, they will smarten up and accede to a deal that seems much sweeter but will be but a fraction of what they extracted in the giant control fraud. http://newsandinsight.thomsonreuters.com/Securities/News/2011/12_-_December/Breakingviews__Big_U_S__foreclosure_settlement_isn_t_dead_yet/
What of Dodd, Frank, and Raines, and the sweetheart deals they got via the "Friends of Angelo" program?
Dodd claimed he had never heard of Angelo Mozilo. Really. He did admit, however, that he and his wife both knew they were part of a special "VIP" program. (Rick Green, CT Courant)
He said he was told that he and his wife were merely beneficiaries of "enhanced customer service." That's quite a euphemism. (Rick Green)
It was a smart move on Mozilo's part to entice Dodd, Frank, Raines, and others. He thus inoculated Countrywide from any serious legal consequences.
Bravo 60 mins!!! about timeyou go after The Obama Administration or Bush one..We do not care ,you need to make the responsible ones accountable to the nightmare they have brought upon millions of Us...This can not be happening , those CEO are laughfing all the way to the bank and bank rolling our dear politicians...what a shame.
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Perhaps they know **** on others higher up who have leverage over regulators....
Civil suits mean absolutely NOTHING to crooked CEO's.
We have to return the teeth to Glass-Seagall and rollback banking regulations to pre-1980 standards; and we must aggressively enforce both.
In the meanwhile, I am sure there are plenty of ways to hold them accountable today, just look to the Attorney's General of the States which are bringing meaningful actions TODAY.
http://newsandinsight.thomsonreuters.com/Securities/News/2011/12_-_December/Breakingviews__Big_U_S__foreclosure_settlement_isn_t_dead_yet/
Dodd claimed he had never heard of Angelo Mozilo. Really. He did admit, however, that he and his wife both knew they were part of a special "VIP" program. (Rick Green, CT Courant)
He said he was told that he and his wife were merely beneficiaries of "enhanced customer service." That's quite a euphemism. (Rick Green)
It was a smart move on Mozilo's part to entice Dodd, Frank, Raines, and others. He thus inoculated Countrywide from any serious legal consequences.
Jack Blair
Info-Quarter
Hoboken, NJ