Ben Bernanke: More execs should have gone to jail for causing Great Recession

www.usatoday.com...

With publication of his memoir, The Courage to Act, on Tuesday by W.W. Norton & Co., Bernanke has some thoughts about what went right and what went wrong. For one thing, he says that more corporate executives should have gone to jail for their misdeeds. The Justice Department and other law-enforcement agencies focused on indicting or threatening to indict financial firms, he notes, "but it would have been my preference to have more investigation of individual action, since obviously everything what went wrong or was illegal was done by some individual, not by an abstract firm."

Ugh Bernanke.. Don't ya hate it when you agree with someone you dislike?

On Friday, October 3, 2008 Bush's signature is worth 700 billion dollars and on December 1, 2008 Eric "Too Big Too Jail" Holder was nominated by Obama who said,

Obama went on to say that "[Holder] is deeply familiar with the law enforcement challenges we face: from terrorism to counter-intelligence; from white-collar crime to public corruption." Holder emphasized national security as a priority if confirmed, "We can and we must ensure that the American people remain secure and that the great Constitutional guarantees that define us as a nation are truly valued."[39]
en.wikipedia.org...

On January 20, 2009 Holder is nominated as Attorney General of the United States; brand new and according to Obama has experience working on white collar crimes so investigating the individuals involved and prosecuting them should have been a breeze for the new AG, right? As we all know that didn't happen but why didn't it happen? Well, because Holder is from Wall Street and was bought & paid for by Wall Street. In fact, he's back working on Wall Street at the same firm he left back in 2009. He took care of his handlers and now he's on easy street.

How will the next AG proceed? Will they also hail from Wall Street? Will anyone from Wall Street ever be prosecuted? Most prosecution cases I read about always involve some low level guy, like a trader, who gets a sentence of 2 - 5 years but rarely do I read about the CEO's and other big wigs get taken down.

Come 2016 and the serious presidential contenders surface pay close attention to who they want to nominate AG.

Fool me once, shame on ... shame on you. Fool me... You can't get fooled again ©

he says that more corporate executives should have gone to jail for their misdeeds.

Foundation, open door!

Why isn't Bernanke turning himself in to face jail also? His hands are just as dirty as those bank executives.

a reply to: Swills

Rejoice, there is still time, the international criminal court, for instance, is still trying and charging Nazis for crimes so as far as I'm concerned any bastard still alive that caused or profited from the events leading up to the GFC of 2008 should get the book thrown at them, stripped of their current wealth and sent to jail.

"More" should go to jail?
Did any?

a reply to: buster2010

Agreed.

To this day Wall Street types are still committing huge criminal acts and all that happens is the corporation gets a big fine. You know Uncle Sam always gots to gets his.

a reply to: Sublimecraft

The ICC? I have little faith there. Still trying to prosecute Nazi's? It's 2015...

No, unless a new Sheriff comes to town and literally cleans house I'm afraid in the US these big wigs will continue to do illegal business as usual until they're stopped.

originally posted by: earthling42

[/quo te]
I want to chuckle at this.
I really, really do.
But I loathe the Occupy folks to no end.

Of course, it's true, but him and the others responsible will never be held accountable. He's only saying it to save face. Doubt he even really cares.

a reply to: Swills

...but...but...corporations are humans! ANd if they are "humans", it must be ok to deal with only these ....

or are we changing the deal? Are humans more human than corporations? that would be revolutionary...

a reply to: Swills

Ben Bernanke: More execs should have gone to jail for causing Great Recession.

Notice how these people come out and say these things when its too late to do anything about it?

I reckon these people do this kind of thing just to try n portray themselves as the good guy and position themselves for softer treatment by a jury someday.

originally posted by: Azureblue
a reply to: Swills

Ben Bernanke: More execs should have gone to jail for causing Great Recession.

Notice how these people come out and say these things when its too late to do anything about it?

I reckon these people do this kind of thing just to try n portray themselves as the good guy and position themselves for softer treatment by a jury someday.

Exactly, since we have the big crash just looming in the shadows, it's about time to point fingers at thier exectives paid by none other than Ben and his golf mates to run thier business and rape the US to recession.

I smell Hypocracy!

So it seems that Bernake's giving us instruction on how we should deal with him if another great recession comes up.

He didn't save the USA in 2008, socialism for the rich payed by REAL working Americans saved the corrupted banks from failing.

Hello Pot, this is the Kettle calling.............

originally posted by: buster2010
Why isn't Bernanke turning himself in to face jail also? His hands are just as dirty as those bank executives.

I read the title and thought to myself that this is a complete joke, Bernanke saying this. What a piecea#