Death Penalty For Economic Crimes?

[truehawk]

Quote from esjockey:

The economic crime of the 20th century was the creation of Fannie and Freddie. The economic crime of the 21st is spending trillions of our future earnings trying to evade the consequences.

Maybe our "representatives" will pass an economic crime death penalty bill and forget to exempt themselves.

This kind of analysis made the economic collapse inevitable.

F&F had nothing to do with CDSs and
F&F never got a whiff of the liar loans because 1, they would not take them and 2. Wall Street was too busy buying them to cut into tryches.
If Wall Street had followed the underwriting standards of F&F we would have 1/100th of the mess. But we would still have a mess.

F &F suffered along with the rest of us from customers compromised because of :

A
Depressed real income.
Jobs outsourced,
H1Bs brought over under company control to depress the wages of the jobs left here.

B.
Artificially low interest rates on capitol causing the pension funds to look at any management that could improve returns.

C.
Wall Street taking a huge cut from the pension money that they were supposed to be managing, and using it to and lobbying to expedite the movement of jobs offshore.

 

[MandelbrotSet]

Considering all of the lives that Madoff destroyed.

YES

 

[stock777]

where you been?

I've been calling for public hangings for a goodly amount of time now.

1st: clawback all the money these bankers stole while running their ponzi schemes. Few are any better than Madoff, they just did it within the law as it was written

2nd: Then hire hangmen. I havn't had to take a salaried job for many many years, but I'm willing to work cheap at that gig.

 

[esjockey]

Quote from truehawk:

This kind of analysis made the economic collapse inevitable.

F&F had nothing to do with CDSs and
F&F never got a whiff of the liar loans because 1, they would not take them and 2. Wall Street was too busy buying them to cut into tryches.
If Wall Street had followed the underwriting standards of F&F we would have 1/100th of the mess. But we would still have a mess.

Actually, I was trying to be funny - not my thing, I guess.

My take is that gvmt guarantee of all those loans totally distorted the risk sides of related markets and had very expensive unintended consequences.

From your response, I'd guess you'd prefer more legislation and regulation, rather than less?

What do you think should be, or should have been done?

 

[flytiger]

Quote from stock777:

where you been?

I've been calling for public hangings for a goodly amount of time now.

1st: clawback all the money these bankers stole while running their ponzi schemes. Few are any better than Madoff, they just did it within the law as it was written

2nd: Then hire hangmen. I havn't had to take a salaried job for many many years, but I'm willing to work cheap at that gig.

Than Barry can say, ".........and 400 people turned out for one executioners job."

If it's lethal injection, though, please don't dab the spot with alcohol. That's is sooooooooooooo stupid.

 

[nutmeg]

Suppose when Madoff confessed to his sons, wrote a note admitting guilt and promptly killed himself. Im not sure that would have pacified the victims but they got their wish, He is dead.

Death is hollow victory.

Ultimately we would have been spared the details and the expense of a trial. Would the mob have been appeased? I think not.

 

[infolode]

Quote from flytiger:

Than Barry can say, ".........and 400 people turned out for one executioners job."

If it's lethal injection, though, please don't dab the spot with alcohol. That's is sooooooooooooo stupid.

Apparently, we maintain certain steps of civility, while engaging in barbaric acts of punishment.

I believe capitol punishment is befitting in many instances. The danger lies in mob mentality which is manifesting itself, even here, on this thread.

 

[Lucrum]

Quote from ipatent:

<h3 class="entry-header"><a href="http://searchingforthetruth.typepad.com/searching_for_the_truth/2009/02/death-penalty-for-economic-crimes.html">Death Penalty For Economic Crimes</a></h3>
<p>It works for me.</p>

Me too, but then I think the death penalty is woefully underutilized.

 

[ipatent]

Quote from infolode:

The danger lies in mob mentality which is manifesting itself, even here, on this thread.

When people start screaming for Madoff and his whole extended family to be fed through Saddam's shredding machine you will know that the mob mentality has arrived.

 

[flytiger]

Quote from ipatent:

When people start screaming for Madoff and his whole extended family to be fed through Saddam's shredding machine you will know that the mob mentality has arrived.

See the story about the guy, shot his kids, his wife, himself? Then today, the Bentley? The guy offed himself after an OJ chase? Lost his business.

How long before some poor soul, trying to provide for his family, gets out the family Glock, looks at his wife, kids, and says, "they didn't do nothin'!" And then, he goes looking for who did?

Answer? Not long. Not long at all. And don't say we're drumming up business. Watch CNBC. They could have helped. They were too busy stroking Chanos and Einhorn and Ackman, and all these assholes, instead of asking if these returns were really possible. NOW, they're indignant. They are more at fault than anyone here. They had the tools. We didn't.

Most of the time, when scamsters get caught, they immediately think of suicide. It's the same when the man of the house loses all. Usually, he checks his life insurance policy. Ever here of "suicide by cop"?

This is a horrible time, and tomorrow, on the Hill, the CEOS who brought us this mess are going to talk about the total disconnect between Wall St. and Main St.

EDIT:

http://www.news8.net/news/stories/0209/593768.html

Boy, that took a long time.