Wall Street Fraud
Hopefully, this is only the fucking beginning.
I want to see a geyser, worthy of Old Faithful, of charges brought against these crooks. They manipulated the market, cheated honest Americans out of their homes, caused a meltdown of an industry that cost millions of jobs...
And for what? More money?
What kind of a human being would ever swindle another, just for more fucking money?
I believe the term is "con man" or "criminal."
From the NY Times:
"Accusations that Goldman defrauded customers who bought investments tied to risky subprime mortgages have only just begun to reverberate through the financial world.
The civil lawsuit that the Securities and Exchange Commission filed against Goldman on Friday seemed to confirm many Americans’ worst suspicions about Wall Street: that the game is rigged, the odds stacked in the banks’ favor. It is the first big case — but probably not the last, legal experts said — to delve into a Wall Street firm’s role in the mortgage fiasco.
'The S.E.C. suit against Goldman, if proven true, will confirm to people their suspicions about the total selfishness of these financial institutions,' said Steve Fraser, a Wall Street historian and author of 'Wall Street: America’s Dream Palace.' 'There’s nothing more damaging than that. This is way beyond recklessness. This is way beyond incompetence. This is cynical, selfish exploiting.'"
We all knew this was going on, let's just hope Obama keeps up the charge and goes after these fucking creatures.
If we do not set up a system of regulation soon, this will happen again.