Goldman charged with fraud (hopefully others will follow)
Saturday, April 17th, 2010
Remember 2008 and the financial crisis? The one where we bailed out the companies that were “too big to fail”? The one that started this mess where today in California, the unemployment rate is 12.6% – the highest since the depression.
Finally someone is getting charged. Sadly, no one will go to jail. The company will be fined and that will be pasted along to the stockholders.
Someone should go to jail. The crisis was not caused by “companies” but by individuals. Individuals who failed in their due dillegance, or just didn’t care because they were too busy counting their money. Meanwhile, those of us who did it right wonder if we will ever get the money out of our homes that we put into them.
Lock ‘em all up. The borrowers who knew they could never make the payments, some of whom after getting their home, went out and borrowed again on the same house. They told a lie. The mortgage brokers who cut and pasted false information into the loan applications. They told a lie.The CEO’s and their henchmen that knew this was happening. They told a lie. The rating companies that said a package of this bad loans were not bad, in fact they were a great investment. They told a lie. And the folks that work for the investment banks and their like; Goldman Sachs, FannyMae, FreddyMac, AGIA and others. They told a lie.
No one has gone to jail. Bonuses in the millions are still being given. No laws have been passed and the one our government is bandying about would create a fund to bail these same people out again when the same thing happens again – which it will until someone goes to jail! They used my money, your money, your mom’s money, the neighbor’s down the street money to prop these guys up who still sit at the same desk, in the same corner office with a million dollar view (we paid for that too).
Too big to fail? Would employment be higher that 12.6% in California. Guess it would be with all the investment bankers (akacrooks) unemployed. “Too big to fail” is code in Washington for, “Hey I know those guys. I used to work there. Their kids play with my kids. They make lots of donations. We can’t let them fail. John and David are friends of Henry Paulson. They are both one of us!”
Yes, I am mad, bitter and very upset. And unless you are on the President’s cabinet or work on Wall Street, you should be mad, bitter and very upset also.




