In Financial Crisis, No Prosecutions of Top Figures

Discussion in 'Business & Economics' started by Eflex tha Vybe Scientist, Apr 15, 2011.

  1. Eflex tha Vybe Scientist Registered Senior Member

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    http://finance.yahoo.com/news/In-Financial-Crisis-No-nytimes-220824617.html?x=0&.v=1

    It is a question asked repeatedly across America: why, in the aftermath of a financial mess that generated hundreds of billions in losses, have no high-profile participants in the disaster been prosecuted?

    Answering such a question — the equivalent of determining why a dog did not bark — is anything but simple. But a private meeting in mid-October 2008 between Timothy F. Geithner, then-president of the Federal Reserve Bank of New York, and Andrew M. Cuomo, New York’s attorney general at the time, illustrates the complexities of pursuing legal cases in a time of panic.

    At the Fed, which oversees the nation’s largest banks, Mr. Geithner worked with the Treasury Department on a large bailout fund for the banks and led efforts to shore up the American International Group, the giant insurer. His focus: stabilizing world financial markets.
     
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  3. spidergoat Liddle' Dick Tater Valued Senior Member

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    The scandal is probably that most of what they were doing was legal.
     
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  5. Me-Ki-Gal Banned Banned

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    Madoff
    Timothy Geithner is one of em . I was shocked when Obama picked him . I thought Change my ass . Same old Same old is more like it . Cronyism is real and the power structures that be let us slaves know that all the time. Instead of stabilizing world financial that should read " Keeping up with the shell game of the money grubbers responsible for serfdom of the populace. See the same people are trying like hell to convince us it is a O.K. and you can get back into the stock market and make big gains again . WE are gun shy though and volume trading is low. Now that is scaring the shit out of the bastards now that so many of us have caught on to the legalized gambling of our futures
     
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