Bernanke: More execs should have gone to jail

nomoney said:
I would like to believe someone must have created a chart that tracks the performance of S&P 500, Unemployment Ratio, and Inflation levels all layed out against each of the Fed Chairman' timelines over the past 2 decades.

IMO, SP500 uptrend would not be anything to get excited about, but key indicators of ecomony like Inflation and Unemployment would clearly show history of when Fed was at its best.
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well, they've been tinkering with the formula for unemployment and inflation for many years (partly to offset the COLA for Social Security)...I think the concept of replacing asset inflation with wage growth started, in earnest, around 95...Basically about the same time that offshoring really took hold...we also had a very strong dollar, true disinflation, low commodity prices and some degree of economic growth until the dot.com crash...Since then it has put asset reflation into high gear and creating a round robin of sector bubbles that have destabilized the economy.
 
He's right, but there's a reason that nobody went to jail. Take one down and they all come down, politicians and other government hacks included. That was/is never going to happen. The S&L scandal was about 1/7 of this catastrophe and there were over a thousand indictments. These bastards bring down the whole f'n world and not one of any real substance. The Mob wishes they had this kind of juice.
 
CaptainObvious said:
He's right, but there's a reason that nobody went to jail. Take one down and they all come down, politicians and other government hacks included. That was/is never going to happen. The S&L scandal was about 1/7 of this catastrophe and there were over a thousand indictments. These bastards bring down the whole f'n world and not one of any real substance. The Mob wishes they had this kind of juice.
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That's a good point...the debacle was too big and too pervasive to be prosecuted...it filled every nook and cranny of the status quo.
 
Start with Cassano at AIG. He should be serving life. The rest pale by comparison. Corzine in the aftermath, but nothing to do with subprime. Fuld, Mozillo, dozens more.
 
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I wonder if Americans are just getting the type of execs they deserve.
I am now starting to understand why in some countries execs are a bit less "cavalier".
Here 1:08 one exec jumping a barrier, left with just his tie and trouser, running away from his angry employees. Made if France! lol :D :D :D
 
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