What is the price those responsible for our situation should pay?

[Darkside]

I am of the opinion that those responsible for our economic situation here in the United States should be considered Enemies of the State and imprisoned, for the sole reason that their actions have effected so many lives. It seems greed got the better of our economic patrons, much to our collective dismay. A question I impose as well...

Is it capitalism that leads to these disadvantages, big or small? Is it greed? Is it freedom?

Oh yeah and FYI: I have heard that the money given to those companies so far is now being loaned back to the government for interest collection. I am not an economist, but...WTF?!?

ADMINS: please move this thread to the Political Mudpit, as it deals directly with current events.

[RVFVS]

.....may I ask who you think is responsible?

[Logik]

They Should Be put up against a wall and shot period

[Darkside]

I believe those responsible would be those who approved the decisions for the highly fluctuating interest rates that allowed people to purchase homes then tax them incredibly when delinquent (sp?) even one day. Sure it's probably just the tip of the iceberg, as other events unfolded as well, but I believe it was their greed that led there.

As a similar comparison, what about large companies like adelphia or enron? There crimes were even worse of course. I would say that their actions, who affected people the world over, should make the enemies of the state if not enemies of the planet. Then again, there is not unified global court system so, at least an enemy of the state in the US. How can that morally be explained away? Why aren't they forced to feel the effects they so remorselessly placed upon others?

[RVFVS]

Thnak you for clarifying....I agree with you. They should be arrested and tried. That my friend is the system of the world. However nothing will ever happen to the leaders of the big companies. The reason? Why do you think America is so succesful? It's normal citizens!?

[Darkside]

Yes, a sad truth of our success in the contemporary age. I have to say though, this kind of personally satisfying agenda should be tossed away by anyone with morals. Hmmm...I consider myself a nationalist, but I wouldn't ever specifically support actions that lead to the detriment of another country. If only we had enough numbers to stop the undeniable cycle of mistrust and greed that perpetuates the world over.

[Viking Prince]

We do not punish imoral acts or acts that harm people. We punish those who violate the law. We also only punish those that violate the law after the law is placed into effect. If you find something to be wrong -- get people who agree with you to push for passage of the laws needed to make the activities illegal. This is one very real reason why America's Constitution takes the form that it does: The official site of Colonial Williamsburg - Colonial Williamsburg ...

[Musthavename]

These people didn't violate the law. Sure, they were greedy, reckless, and completely screwed everything up, but most of them (except Mr Pyramid Scheme Madoff ) didn't break the law. It was just the system tinkered to short term game, which is effectivly useing hedgefunds as a gambling tool. Instead of Banks getting safe assets, they simply bet on the market. Ofcourse, when they were winning, it was all well and good, but as soon as they lost, the whole pack of cards came tumbling down.

Blame these bankers all you like, but if you really want someone to blame, blame Goverments for not seeing it and legislating against it. Goverments saw growth figures and thats all they cared about.

But, as much as I like to, you can't lock these people up. What most of them did is well within the law. Stupid and reckless albeit, but lawful. Besides, what law can you possibly hope to prosecute them under that would stand up in court? There isn't any. Ofcourse, that doesn't mean to say there shouldn't be laws, but you can't just invent them and them backtrack them just to prosecute people.

[Kjertesvein]

Even carpenters in my own tiny country knew for 5 years ago that this would break down(in a 2,5years ferquency), jet the Prima elite of the world-Judge didnt calculated this. Until this day, we have not fired/suspended a single employee, out of 6500 total. I think 1 got suspended, but he got back in.
My theory: Government knew about a economic-crackdown would come, but they hoped it would crack down after their time. (...just to leave a stain on Obamas carpet).

BTW: has anything happen? is a international regulation written jet? or is it under the smelly carpet?

[Musthavename]

BTW: has anything happen? is a international regulation written jet? or is it under the smelly carpet?

Well, in the UK, bar a temporary ban on Short-Selling that ends this month, nothing. Just bank bailouts and throwing cash at the crisis.

[Darkside]

I believe here the US they are drafting legislation to stop this from ever happening. So we seem to be making sure nothing like this happens again. But all the people affected by their interest in 'short-term gain...' I have to say it genuinely sickens me to think we share the same genes as these creeps. Surely some of them had to have seen the potential for such a meltdown. And I am also aware that without risk, especially here within a capitalist market, there is no reward. But this risk, affecting not only people in my country but around the globe, for no better reason than to make money...I suppose I could summate it as just selfish and perhaps, unfortunately, oh so human.

[Chukada1]

China should be payed a eighty trillion dollars.

Thank you China for supporting the U.S economy for so long, and even though America will never pay you back the money, you continue to save America today.

[boofhead]

Maybe they should be tried by a UN court. After all, Americans are probably hurting the LEAST in all of this.

[Exarch]

the price they pay will be an incredible loss in trust in americna institutions;

what should they get?
their personal fortunes (i understand most of these ppl ike greenspan are filthy rich) should be proscribed; they broke it so they pay for it

[André Masséna]

How about the dummies who took loans they couldn't repay?

[Exarch]

How about the dummies who took loans they couldn't repay?

they pay back their loans
or file for bankruptcy
either way, usual standards apply

[Zephyrus]

I am of the opinion that those responsible for our economic situation here in the United States should be considered Enemies of the State and imprisoned, for the sole reason that their actions have effected so many lives. It seems greed got the better of our economic patrons, much to our collective dismay. A question I impose as well...

Is it capitalism that leads to these disadvantages, big or small? Is it greed? Is it freedom?

Oh yeah and FYI: I have heard that the money given to those companies so far is now being loaned back to the government for interest collection. I am not an economist, but...WTF?!?

ADMINS: please move this thread to the Political Mudpit, as it deals directly with current events.

Good luck trying.

[vizi]

$000,000,000,000,000,000,000,000,000,000,000,000.00

[Viking Prince]

$000,000,000,000,000,000,000,000,000,000,000,000.00

This thread is certainly less than interesting -- you are spot on though.

[Strattios]

I say no punishment. Not only is it just about impossible to pin down anyone to really blame as being the instigators in all this, but few if any actual laws were broken. Those who can be proven as having broken laws should be punished as per regulations currently existing. However, in most cases it was recklessness an nothing more that caused such problems. This form of action shouldn't be punished in any way. Sure it may seem dangerous, but this risk taking mentality is what drive modern advances.

Many people also lost money in stocks. This is an irreplaceable lose as they chose to essentially gamble with this money by giving it to someone else in the hopes that they could do more with it than you. They have no obligations to repay their investors.

As to trying US citizens in UN run trials. I have one thing to say: SCREW THAT!!! The US owes no particular obligation to anyone nor do our citizens. Everyone around the world took the same risks by investing in the companies. Many walked away very rich but many more did not. That is simply a matter of circumstances that are in no way the result of criminal actions.