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(US News)   Bank of America forgot to bribe a judge   (usnews.com ) divider line
    More: Spiffy, Bank of America, Wall Street, guilty verdicts, U.S. Bancorp, hustle, Jamie Dimon  
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1535 clicks;  Favorite

34 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest
 
2013-10-29 12:48:49 AM  
They also forgot to stop being crooks.
 
2013-10-29 12:53:02 AM  
Corporations are people, my friend.
 
2013-10-29 06:14:11 AM  

The RIchest Man in Babylon: Corporations are people, my friend.


I can't wait until Texas executes one.
 
2013-10-29 07:21:57 AM  

Bucky Katt: They also forgot to stop being crooks.


The banks did nothing wrong.  It clearly was the fault of lazy, stupid customers for not being intimately familiar with every single insidious practice not publicized by the financial sector.
 
2013-10-29 07:45:24 AM  

UNC_Samurai: Bucky Katt: They also forgot to stop being crooks.

The banks did nothing wrong.  It clearly was the fault of lazy, stupid customers for not being intimately familiar with every single insidious practice not publicized by the financial sector.


If they can't be bothered to do their research, to hell with them.
 
2013-10-29 07:51:35 AM  
img84.imageshack.us
 
2013-10-29 07:59:57 AM  

UNC_Samurai: The banks did nothing wrong. It clearly was the fault of lazy, stupid customersFannie Mae and Freddie Mac for not being intimately familiar with every single insidious practice not publicized assuming huge numbers of loans passed off by the financial sector weren't approved solely on the basis of fraudulent verification practices.


FTFY

No, seriously, this is what the 101st Fighting Keyboardists actually argue in this case. That Fannie Mae and Freddie Mac are the bad guys because they didn't just assume that massive numbers of loans from enormous financial institutions like BofA weren't fraudulently approved by those institutions. They basically said that it's the GSE's own fault this happened for not doing the bank's work for them.
 
ZAZ [TotalFark]
2013-10-29 08:00:48 AM  
I never thought of the big financial companies as judge-bribers. Easier and safer to buy off the prosecutors. Sometimes they can bribe legally, with donations to the right campaigns, PACs, super PACs, and ultra PA *** CARRIER LOST ***
 
2013-10-29 08:04:12 AM  
I'm waiting for the usual suspects to come in here and accuse the government of forcing Countrywide down BofA's throat, getting history exactly wrong.
 
2013-10-29 08:38:00 AM  
Yeah, yeah. Get back to me when you start putting cuffs on these MFs.

http://www.rollingstone.com/politics/blogs/taibblog/angelo-mozilo-fo rm er-countrywide-ceo-claims-he-doesnt-know-what-verified-income-is-20121 228 

It'll be another fine and a slap on the wrist. Then, back to business as usual.
 
2013-10-29 09:04:34 AM  
♪ ♫ Countrywide will rob ya blind! ♪ ♫
 
2013-10-29 09:17:09 AM  

TV's Vinnie: ♪ ♫ Countrywide will rob ya blind! ♪ ♫


Back when they were running their ads my wife and I were looking into selling our current house and buying a new one after some job changes. I could never quite figure out what the scam was that they were running at the time, but I also never understood why anybody would look at their claims and not immediately think "hmmmm.... that's definitely some manner of shiat. I don't know of it's bullshiat, pigshiat or dogshiat, but it's definitely some type of shiat and I don't think I want anything to do with it".

/ I'd love to see some evidence that the Great Recession calibrated a lot of people's BS detectors, but I'm not going to get my hopes up
 
kab
2013-10-29 09:18:04 AM  
Any 'fines' at this point will simply be passed along to customers.   Next time you consider a bailout, hand the money to the correct group of people.
 
2013-10-29 09:19:33 AM  

cc_rider: Yeah, yeah. Get back to me when you start putting cuffs on these MFs.


Remember, the difference between criminal fraud and civil fraud is rather broad, in that proving criminal intent is an even bigger hurdle than proving civil liability.  Basically, to win on criminal fraud you basically need an internal email saying "OMG, we are so going to scam these guys, everything we are selling is false!"

Basically, its really really hard to make out a criminal case without a knowing ponzi style scheme ala Madoff.
 
2013-10-29 09:25:51 AM  

ZAZ: I never thought of the big financial companies as judge-bribers. Easier and safer to buy off the prosecutors. Sometimes they can bribe legally, with donations to the right campaigns, PACs, super PACs, and ultra PA *** CARRIER LOST ***


Why bribe when you can just hire them after they retire from government. That way you get both protection from prosecution, waving of normal rules meant to protect consumers, and insider knowledge once they work for you.
 
2013-10-29 09:36:52 AM  
CRIME! Just another cost of doing business for the Unprosecutables!©
 
2013-10-29 09:37:53 AM  
i1.ytimg.com

IMO, anyone who actually picked up the phone whenever a Ditech commercial aired DESERVED to get hosed, and hosed hard. What sort of drooling goober in a double-wide would put a second mortgage on their home after seeing one of those commercials?
 
2013-10-29 09:50:28 AM  

The RIchest Man in Babylon: Corporations are people, my friend.


So since the corporation has been found guilty are they all going to jail?  That would be justice.
 
2013-10-29 10:12:59 AM  
Quick, somebody summon

growlersoftware.com
 
2013-10-29 10:15:27 AM  

AngryDragon: The RIchest Man in Babylon: Corporations are people, my friend.

So since the corporation has been found guilty are they all going to jail?  That would be justice.


You must be one of those facist socialists I've been hearing about on the radio.


Step 1. Incorporate
Step 2. Engage in illegal activities, but ensure that these activities are just an accidental (wink wink) result of bad organization, so no particular person can be said to be at fault
Step 3. Collect a crap ton of salary/stock options
Step 4. When (if) you are caught pay fine, well you don't pay the fine, your shareholders and customers do

Repeat, always repeat.
 
ZAZ [TotalFark]
2013-10-29 10:16:19 AM  
AngryDragon

In some cases felony convictions can bar a corporation from federal contracts or highly regulated businesses. That is kind of like a jail sentence. You can keep making jet fighters, but you can't sell them to the government. Of course, anybody who is actually making jet fighters is too big to fail. But in principle the law allows them to be barred from defense contracts, Medicare, etc. for misconduct.
 
2013-10-29 10:21:43 AM  
So they're going to have to pay $50 and pickup the garbage in the snow...
 
2013-10-29 10:25:24 AM  

EvilEgg: UNC_Samurai: Bucky Katt: They also forgot to stop being crooks.

The banks did nothing wrong.  It clearly was the fault of lazy, stupid customers for not being intimately familiar with every single insidious practice not publicized by the financial sector.

If they can't be bothered to do their research, to hell with them.


How dare eager potential home owners not bother to check the mortgage eligibility their bank is telling them they have with a neutral third party!
 
2013-10-29 11:03:56 AM  
Wake me when one of these fat farks gets shanked in his sleep or PMITAed in the shower.
Then I'll know our justice system is working as planned.

STUF in advance you huggy-feelies that want to equated putting a pig banker in prison with justified rape.
 
2013-10-29 11:10:49 AM  
Nothing to see here citizen, just another way to show us plebes that the ruling class that they care by sacrificing a lamb or two to appease us. What's a few superficial fines...that will be passed on to us in the long run anyways...
 
2013-10-29 11:20:07 AM  

ZAZ: AngryDragon

In some cases felony convictions can bar a corporation from federal contracts or highly regulated businesses. That is kind of like a jail sentence. You can keep making jet fighters, but you can't sell them to the government. Of course, anybody who is actually making jet fighters is too big to fail. But in principle the law allows them to be barred from defense contracts, Medicare, etc. for misconduct.


It always seems like the people in the news doing this crap are outside that realm with banking being the primary example. From an ignorant standpoint (which I think is about everyone) it feels like banks are creating no value and reaping a lot of benefit for their "services." I'd like to think I understand what banks are meant to do; pool the money of a large population and use that money to loan money to allow people who otherwise don't have the liquid means to get something done do something. Effectively, be a financial facilitator, and their profit margins occur in the difference between interest charged and interest paid out.

What I personally see is an industry that doesn't have to answer to its shareholders, customers, or ANY government agency for what they're doing, giving them tacit approval to act in any fashion they see fit. Combine that with the fact that "too big to fail" became a mantra on Capitol Hill in 2009 (ish) makes it seem like they're the ones running things, not The People or even the Representatives of The People.

I'm an economical idiot and don't have the time (nor want) to get a degree in economics to understand what was going on, I have to rely on those smarter than me in subjects I'm not actively working in to give me good information to make a judgment call and it would appear I'm being fed nothing but bullshiat. Bullshiat in, bullshiat out.
 
2013-10-29 11:28:21 AM  

Sir Cumference the Flatulent: The RIchest Man in Babylon: Corporations are people, my friend.

I can't wait until Texas executes one.


Will that be when i can start a bunch of corporations that dont do anything and put them on welfare or other benefits because they don't make any money? Will they each get a vote? I keep hearing from liberals around here that corporations are people - shouldn't the corporations get the se benefits and rights as people?
 
2013-10-29 11:29:32 AM  

vudukungfu: Wake me when one of these fat farks gets shanked in his sleep or PMITAed in the shower.
Then I'll know our justice system is working as planned.

STUF in advance you huggy-feelies that want to equated putting a pig banker in prison with justified rape.


This is what farklibs actually believe.
 
2013-10-29 11:34:25 AM  
FTA:

In the Washington Post, Ryan Cooper even posits that we're seeing the emergence of a new Democratic populism aimed at reining in the financial sector, personified by Sen. Elizabeth Warren, D-Mass., and New York City mayoral candidate Bill de Blasio. "There is still real anger over the special treatment Wall Street received, and the Dems could find a real vein of electoral gold

This is the key. Dems are grandstanding over the crisis because they believe it will help them win the votes of people who are too dumb to know better.

Do you think Elizabeth Warren is actually stupid enough to believe everything she says? No, of course not. She knows finding a rich scapegoat will curry favor from idiots who are completely clueless about the economy, finance, and the causes of the financial crisis. Idiots like Pat Garafalo, and many farkers.
 
2013-10-29 11:38:11 AM  

dmaestaz: Nothing to see here citizen, just another way to show us plebes that the ruling class that they care by sacrificing a lamb or two to appease us. What's a few superficial fines...that will be passed on to us in the long run anyways...


The people in charge of Countrywide paid small fines a few years ago and have retired to their yachts and mega-mansions.

Don't forget Countrywide had a 'friend of Mozzilo' program where people such as VP Biden and Sen Chris Dodd recieved special deals on mortgages.
 
2013-10-29 11:39:39 AM  

ajgeek: ZAZ: AngryDragon

In some cases felony convictions can bar a corporation from federal contracts or highly regulated businesses. That is kind of like a jail sentence. You can keep making jet fighters, but you can't sell them to the government. Of course, anybody who is actually making jet fighters is too big to fail. But in principle the law allows them to be barred from defense contracts, Medicare, etc. for misconduct.

It always seems like the people in the news doing this crap are outside that realm with banking being the primary example. From an ignorant standpoint (which I think is about everyone) it feels like banks are creating no value and reaping a lot of benefit for their "services." I'd like to think I understand what banks are meant to do; pool the money of a large population and use that money to loan money to allow people who otherwise don't have the liquid means to get something done do something. Effectively, be a financial facilitator, and their profit margins occur in the difference between interest charged and interest paid out.

What I personally see is an industry that doesn't have to answer to its shareholders, customers, or ANY government agency for what they're doing, giving them tacit approval to act in any fashion they see fit. Combine that with the fact that "too big to fail" became a mantra on Capitol Hill in 2009 (ish) makes it seem like they're the ones running things, not The People or even the Representatives of The People.

I'm an economical idiot and don't have the time (nor want) to get a degree in economics to understand what was going on, I have to rely on those smarter than me in subjects I'm not actively working in to give me good information to make a judgment call and it would appear I'm being fed nothing but bullshiat. Bullshiat in, bullshiat out.


You are, as you say, an economical idiot. And you are being fed bullshiat, like TFA. The bullshiat you are being fed is likely why everything else in your post is laughably wrong.
 
2013-10-29 11:40:55 AM  

impaler: Quick, somebody summon


Here I come to save the day!!!

/obscure?
 
2013-10-29 11:41:52 AM  

Debeo Summa Credo: No, of course not. She knows finding a rich scapegoat will curry favor from idiots who are completely clueless


Really? The large banks that went to shat and caused the financial crises are being "scapegoated?" Do you even know what "scapegoat" means? Because it doesn't mean "rightfully blamed."
 
2013-10-29 11:49:32 AM  

Debeo Summa Credo: impaler: Quick, somebody summon

Here I come to save the day!!!

/obscure?


www.agavegroup.com
No.

 
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