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(Reuters)   EU regulator has a radical idea: to prosecute bankers that commit felonies   (in.reuters.com) divider line 26
    More: Hero, libor, Michel Barnier, derivative contract, European Parliament, governors, punishments  
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1992 clicks; posted to Business » on 09 Jul 2012 at 1:50 PM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



26 Comments   (+0 »)
   
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2012-07-09 11:31:36 AM
images3.wikia.nocookie.net

RIP Tibor
 
2012-07-09 11:36:37 AM
Good luck with that.
 
vpb [TotalFark]
2012-07-09 11:39:56 AM
That might work over there. I can't see bankers letting that happen here though.
 
2012-07-09 11:49:55 AM
Like bankers would ever allow that.
 
2012-07-09 11:59:06 AM
prosecute bankers when they break the law!?

MADNESS!
 
2012-07-09 01:24:59 PM

Weaver95: prosecute bankers when they break the law!?

MADNESS!


Alas, the things that they did werent illegal. They will continue to find legal ways to game the system and make money. Always have and always will. Which is why every 20-50 years you should kill all the bankers/investors and tax 100% of their assets.

Kind of like burning out rat or termite infestations which have gotten out of control.
 
2012-07-09 01:29:13 PM
That's a European thing. I'm told we don't like to do things like them. Even when they make sense.
 
2012-07-09 02:24:39 PM

namatad: the things that they did werent illegal.


There's a few laws that could stick. Also there's civil issues.
 
2012-07-09 02:27:17 PM
Laws against fraud and theft would already cover the liebor fiasco, if somebody actually had the balls to prosecute the people that own their boss's boss's boss.
 
2012-07-09 02:30:50 PM

namatad: Alas, the things that they did werent illegal. They will continue to find legal ways to game the system and make money. Always have and always will. Which is why every 20-50 years you should kill all the bankers/investors and tax 100% of their assets.


Just because they say they weren't illegal, doesn't make them illegal. That's the point of court.

The US government being so gun-shy of bringing charges against bankers is a result of insufficient funding to regulation bodies, as well as insufficient oversight and taxation of bodies to be governed.

In short, raise taxes on banks, and use those taxes to fund prosecutions.
 
2012-07-09 02:30:55 PM

WhyteRaven74: namatad: the things that they did werent illegal.

There's a few laws that could stick. Also there's civil issues.


hey, I am a big fan of killing them and letting god sort it out.
This is the problem of having a legal system and not a justice system.
Did they break the "law?" probably not.
Were they unjust? HELL YES BURN THEMMMMMMMMMMMMMMMM
 
2012-07-09 02:32:13 PM

imashark: In short, raise taxes on banks, and use those taxes to fund prosecutions.


Same thing for the IRS to investigate the 1% for tax evasion.
When the 1% use more expensive lawyers than the IRS to hide income and avoid taxes ...

/sigh
 
2012-07-09 02:45:34 PM

namatad: Alas, the things that they did werent illegal.


I don't know the details of laws in EU, but I'm pretty sure whatever laws against fraud they have should cover it.
 
2012-07-09 03:39:23 PM
But then who will create the jobs?

And who will we give tax cuts to?
 
2012-07-09 03:43:52 PM
Everyone loves and admires people who do nothing and yet make x1000 what people who actually work for a living make.
 
2012-07-09 03:47:59 PM

Corporate Self: Everyone loves and admires people who do nothing commit crimes with impunity and yet make x1000 what people who actually work for a living make.


ftfy
 
2012-07-09 04:10:23 PM
HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA HA

Next week's headline: Top EU regulatory official commits suicide. Foul play not suspected.
 
2012-07-09 04:38:03 PM
farking commies.
 
2012-07-09 04:42:27 PM

Thrag: namatad: Alas, the things that they did werent illegal.

I don't know the details of laws in EU, but I'm pretty sure whatever laws against fraud they have should cover it.


hmmmmmmmmmmmmmmmmmmmmmm
probably - but - it seems that it is rare for people like this to ever be charged with fraud. Esp when they would just point to the law and say "see it isnt ILLEGAL to game the system"

plus it seemed to be implied in the article that they were trying to make the behavior illegal ...
 
2012-07-09 05:22:17 PM
i believe i have just dropped my monocle into my dom perignon
 
2012-07-09 07:22:42 PM
What about bankers who (not "that") commit felonies at the request of, and under pressure from, the government?
 
2012-07-09 07:24:03 PM

namatad: Weaver95: prosecute bankers when they break the law!?

MADNESS!

Alas, the things that they did werent illegal. They will continue to find legal ways to game the system and make money. Always have and always will. Which is why every 20-50 years you should kill all the bankers/investors and tax 100% of their assets.


Your 401(k) has just been confiscated.
 
2012-07-09 07:25:35 PM

imashark: namatad: Alas, the things that they did werent illegal. They will continue to find legal ways to game the system and make money. Always have and always will. Which is why every 20-50 years you should kill all the bankers/investors and tax 100% of their assets.

Just because they say they weren't illegal, doesn't make them illegal. That's the point of court.

The US government being so gun-shy of bringing charges against bankers is a result of insufficient funding to regulation bodies, as well as insufficient oversight and taxation of bodies to be governed.

In short, raise taxes on banks, and use those taxes to fund prosecutions.


No, the bankers aren't being investigated because the investigation would lead right back to the politicians and bureaucrats who run the economy. Can't throw the bankers in prison without also throwing the politicians in prison.
 
2012-07-09 07:31:29 PM

DrPainMD: imashark: namatad: Alas, the things that they did werent illegal. They will continue to find legal ways to game the system and make money. Always have and always will. Which is why every 20-50 years you should kill all the bankers/investors and tax 100% of their assets.

Just because they say they weren't illegal, doesn't make them illegal. That's the point of court.

The US government being so gun-shy of bringing charges against bankers is a result of insufficient funding to regulation bodies, as well as insufficient oversight and taxation of bodies to be governed.

In short, raise taxes on banks, and use those taxes to fund prosecutions.

No, the bankers aren't being investigated because the investigation would lead right back to the politicians and bureaucrats who run the economy. Can't throw the bankers in prison without also throwing the politicians in prison.


if you throw them in prison they might get out, and the money will not be recovered. throw them in the river, and redistribute the wealth, forgive the debts.
 
2012-07-10 11:17:40 AM
The bankers own Obama and congress. Never happen here.
 
2012-07-10 08:01:15 PM

Nemo's Brother: The bankers own Obama the President and congress. Never happen here.


FTFY.
 
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