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Mike
Lv 7
Mike asked in Politics & GovernmentLaw & Ethics · 1 decade ago

Should the brokers and CEO's that caused this huge bailout by the taxpayer's be put in jail?

7 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    If they are found to have broken the law, yes, of course.

    However, they were acting within the law, put through by Phil Gramm, and behaving to extend loans to unqualified buyers, as encouraged by Bush.

    If you want to put the culprits in jail I'm with you, let's start with........?

  • Anonymous
    1 decade ago

    First, I want people who did not honor their financial obligations and caused this mess to go to jail first. Their failure to pay there mortgages collapsed the system which had bet that they would honor their financial obligations to a greater extent than they actually did. Financial companies should have no faith in the American people to pay their bills following this unprecedented debacle.

    A select group of the American people failed all of us, first and foremost. Congress assisted in fanning the flames of this firestorm by asking for relaxed lending standards so ALL Americans could share in the dream of home ownership. How political can you get? (BTW, it was the Dems like Barney Frank leading the charge to lower the standards). They are all culpable.

  • IceT
    Lv 7
    1 decade ago

    Yes they should. So should Chris Dodd (D) who is the chariman of the committee that is to regulate Fannine and Freddie but who also is the number one receipient of campaign contributions from Fannie and Freddie.

    So should Jim Johnson, disgraced former CEO of Fannie, was Obama's vice presidential search chairman, at least until he resigned under fire due to his role in providing subsidized sweetheart loans to Democratic Senators (including Obama) during his stint at CountryWide but is still an economic advisor to Obama.

    So should Franklin Raines, who participated in the accounting scandals to fix Fannie's books and deliver unwarranted bonuses to its top executives, is a top Obama adviser.

    There should also be a investigation of the corrupt "Community Organizer" organization ACORN, an institutional ally of Barack Obama, lobbied Freddie and Fannie to extend even more risky loans to credit-poor borrowers in the interest of ending "racial redlining." But they didn't end "racial redlining." What they ended was any credit-checking at all, as subprime mortgage providers simply stopped verifying self-reported claims of income and in fact ended even the most basic prudential element of a mortgage -- the down payment.

  • 1 decade ago

    No. They should have to pay back the salaries they received for the past 5 years and have their houses foreclosed.

  • 1 decade ago

    If not that, their private bank accounts should be seized in part of a 'repayment' to the American ppl.

  • 1 decade ago

    yes if it can be shown they committed a crime but the least they can do is give bask the money.

  • Anonymous
    1 decade ago

    No. They are rich and better than you and me.

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