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Bank of America: still no criminal charges


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#1 vherub

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Posted 18 June 2013 - 01:53 PM

Certainly not the only institution rotten with criminals, but one of the worst:

 

http://www.salon.com...re_told_to_lie/

 

The lack of prosecutions has been one of the most shameful aspects of the financial meltdown. The federal government has given immunity to offensive, duplicitous behaviors.



#2 kill3r7

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Posted 18 June 2013 - 02:14 PM

The government doesn't prosecute such folks because doing so opens up a can of worms one cannot even fathom. Every member of our society is intertwined with one these banks in some way, shape or form. Remember that Congressmen, Senators and Judges need home loans too. They might have gotten favorable rates or maybe have a credit line that they shouldn't.  You poke the banks and then you open up a can of worms you wanted no part of. Also proving a case such as this in a court of law is more difficult then you think.  The burden for criminal trial is beyond reasonable doubt.


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#3 irideabike

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Posted 18 June 2013 - 04:32 PM

God forbid corruption comes to light.


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#4 davo1224

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Posted 18 June 2013 - 08:19 PM

The problem is that you're not just exposing one or two bad apples. It's like not one guy or his team did some shady shit. It's a major financial institution that a lot of people of all different levels of society have an investment in.

 

Sadly, this country would have ended up much much worse if we had held everyone responsible when shit hit the fan.



#5 IRHari

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Posted 18 June 2013 - 09:34 PM

The problem is that you're not just exposing one or two bad apples. It's like not one guy or his team did some shady shit. It's a major financial institution that a lot of people of all different levels of society have an investment in.

 

Sadly, this country would have ended up much much worse if we had held everyone responsible when shit hit the fan.

 

What? How?


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#6 kill3r7

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Posted 18 June 2013 - 09:53 PM

 

The problem is that you're not just exposing one or two bad apples. It's like not one guy or his team did some shady shit. It's a major financial institution that a lot of people of all different levels of society have an investment in.

 

Sadly, this country would have ended up much much worse if we had held everyone responsible when shit hit the fan.

 

What? How?

 

Every single major business in the US relies on a credit line provided by a bank, sometimes multiple banks. If you prosecute each and everyone who is responsible for the collapse you would find out that the problem is systemic and in turn would have to shut down almost all the major banks.  Thus eliminating the world credit line. You would literally stop the world economy in one fell swoop.  

 

The right approach would have been to implement stricter reforms and regulatory oversight.  Neither happened so we are still vulnerable.


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#7 IRHari

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Posted 19 June 2013 - 12:40 AM

The problem is that you're not just exposing one or two bad apples. It's like not one guy or his team did some shady shit. It's a major financial institution that a lot of people of all different levels of society have an investment in.
 
Sadly, this country would have ended up much much worse if we had held everyone responsible when shit hit the fan.

 
What? How?
Every single major business in the US relies on a credit line provided by a bank, sometimes multiple banks. If you prosecute each and everyone who is responsible for the collapse you would find out that the problem is systemic and in turn would have to shut down almost all the major banks.  Thus eliminating the world credit line. You would literally stop the world economy in one fell swoop.  
 
The right approach would have been to implement stricter reforms and regulatory oversight.  Neither happened so we are still vulnerable.

Too big to jail, eh?
"People the world over have always been more impressed by the power of our example than by the example of our power." -Bill Clinton

#8 kill3r7

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Posted 19 June 2013 - 02:30 PM

 

 

 

The problem is that you're not just exposing one or two bad apples. It's like not one guy or his team did some shady shit. It's a major financial institution that a lot of people of all different levels of society have an investment in.
 
Sadly, this country would have ended up much much worse if we had held everyone responsible when shit hit the fan.

 
What? How?
Every single major business in the US relies on a credit line provided by a bank, sometimes multiple banks. If you prosecute each and everyone who is responsible for the collapse you would find out that the problem is systemic and in turn would have to shut down almost all the major banks.  Thus eliminating the world credit line. You would literally stop the world economy in one fell swoop.  
 
The right approach would have been to implement stricter reforms and regulatory oversight.  Neither happened so we are still vulnerable.

Too big to jail, eh?

 

You got it. Too big and too difficult to prove.


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#9 Access_Denied

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Posted 19 June 2013 - 03:08 PM

Somebody needs to tell the gun wielding maniacs in this country that they're targeting the wrong groups of people...