Halleluah Jesus! It's about time for some prosecutions.

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    Jan 25, 2011 1:15 PM GMT
    "The bipartisan panel appointed by Congress to investigate the financial crisis has concluded that several financial industry figures appear to have broken the law and has referred multiple cases to state or federal authorities for potential prosecution, according to two sources directly involved in the deliberations.

    The sources, who spoke on condition they not be named, declined to identify the people implicated or the names of their institutions. But they characterized the panel's decision to make referrals to prosecutors as a significant escalation in the government's response to the financial crisis. The panel plans to release its final report in Washington on Thursday morning.

    In the three years since major lenders teetered on the brink of collapse, prompting huge taxpayer rescues and amplifying an already painful recession into the most punishing downturn since the Depression, public indignation has swelled while few people who played prominent roles in the crisis have faced legal consequences.

    That may be about to change. According to the law that created the Financial Crisis Inquiry Commission, the panel has a responsibility to refer for prosecution any evidence of lawbreaking. The offices that have received the referrals -- the Justice Department, state attorneys general, and perhaps both -- must now determine whether to prosecute cases and, if so, whether to pursue criminal or civil charges.

    Though civil charges appear a more likely outcome should prosecution result, one source familiar with the panel's deliberations said criminal charges should not be ruled out.

    The commission's decision to refer conduct for prosecution underscores the severity of the activities it has uncovered and plans to detail in its widely anticipated final report, the sources said. ..."

    - The Huffington Post
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    Jan 25, 2011 2:37 PM GMT
    Are they finally going to lock up the DHUD and Barney and Chris?

    People in financial institutions try to break the law all the time, and they should be prosecuted, but to make it appear as though this has anything to do with the big picture of the housing crisis is nothing more than scapegoating for government malpractice.
  • Webster666

    Posts: 9217

    Jan 25, 2011 7:34 PM GMT
    The corporate executives will get the best justice that they can buy.
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    Jan 26, 2011 3:16 AM GMT
    mocktwinkie saidAre they finally going to lock up the DHUD and Barney and Chris?

    People in financial institutions try to break the law all the time, and they should be prosecuted, but to make it appear as though this has anything to do with the big picture of the housing crisis is nothing more than scapegoating for government malpractice.





    Did DHUD, Barney and Chris, go beyond pushing to ease restrictions against low income families many of whom you are correct should not have had those loans?

    They did push for quota's of loans to these people that left a door open for abuse and bad loans. But was there anything about these three's actions that forced the even bigger banks to take these loans and gamble with them and their values? NOPE !!!! The bigger banks sold these loans, divided and redivided and then had their buddies give AAA ratings to the investments when there was no proof whether or not they even were worth a dollar on the hundred of stated value. Did the DHUD, BARNEY AND CHRIS have anything to do with that ??? DID THEY ORDER THESE WORTHLESS INSTRUMENTS OF GAMBLING WITH LOAN INVESTMENTS ???? NOPE !!!!!!!!! The biggest troubles went way out beyond DHUD, Barney and Chris, so get over them, they were some of the trouble but not nearly the mojority of it.

    I hope the bastards that pawned off these worthless peices of paper time and time again until there wasn't even a paper trail to figure out who actually owned the loans go to jail !!!