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OC Register: Federal insider trading trial begins for Ex-Angel player Doug DeCinces


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And yet not a single exec of any rating service, bank or mortgage company went to prison for their roles in the Great Recession of 2008. Nor, for that matter, any govt official whose job was to oversee the loans and rating services. 

Ah, America. Laws are really only for the poor and middle classes. Being rich puts you above the law.

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26 minutes ago, WeatherWonk said:

And yet not a single exec of any rating service, bank or mortgage company went to prison for their roles in the Great Recession of 2008. Nor, for that matter, any govt official whose job was to oversee the loans and rating services. 

Ah, America. Laws are really only for the poor and middle classes. Being rich puts you above the law.

Do you remember the Washington Mutual fiasco? The last CEO they had before folding (actually bought by Chase) was on the job for just a few weeks and made something like $22 million as a consolation gift.

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4 hours ago, fan_since79 said:

Do you remember the Washington Mutual fiasco? The last CEO they had before folding (actually bought by Chase) was on the job for just a few weeks and made something like $22 million as a consolation gift.

Yeah, a consolation gift for not fighting the takeover by JPM Chase, which many shareholders were against. He was on the job for 17 days.

Few people realize that WaMu was NOT insolvent, at the time they were "sold" to JPM Chase. They could have met their obligations. JPM Chase acquired all of WaMu's assets, totaling somewhere around 500 billion, and very little of their liabilities, for, get this, 1.9 billion!!! 

So, banks like JPM Chase, B of A, Citi, GS, etc., banks that were deemed "to big to fail", have only gotten bigger. Now, the Trump Administration wants to "deregulate" banks even further. Amazing!!!! They now know that they can engineer another financial crisis...........and the govt and Fed will probably bail them out, AGAIN!

Another crisis is coming, during the Trump administration. I think the super-rich have found their perfect fall guy. If it happens, the GOP will revile him as much as the Dems do.

It's all just so cyclical. The GOP and their corporate stooges tank the economy, their president leaves in disgrace (Hoover, GW Bush, then Trump)............and so many party members develop amnesia and elect another one. It's like some bizarre Russian novel where characters never learn from their mistakes.

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