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Crewleader

(17,005 posts)
Tue Jul 22, 2014, 02:46 PM Jul 2014

Some criminal bank executives should go to jail

July 22, 2014

Irvine Renter 9 Astute Observations


Punishing shareholders with corporate fines does little to deter bad behavior among corporate executives.
Some of them need to go to jail.


If I had to narrow my list down to the people most responsible for the housing bubble, Anthony Mozilo would be near the top of the list.mozilojail

The Option ARM loan was the primary loan product that inflated the housing bubble. Using negative amortization and teaser interest rates, people were able to borrow more than twice the amount than they could afford with a conventional 30-year fixed-rate amortizing mortgage. Once the Option ARM imploded and lending retreated to conventional mortgages, prices needed to fall significantly to rebalance affordability. The Option ARM was the Ponzi virus that caused the debilitating financial disease that inflated the housing bubble and created the current economic morass still plaguing the country.



http://ochousingnews.com/blog/criminal-bank-executives-go-jail/



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Some criminal bank executives should go to jail (Original Post) Crewleader Jul 2014 OP
I was hoping for the guillotine! mbperrin Jul 2014 #1
ALL Criminal Bank Executives Should Go to Jail! Demeter Jul 2014 #2

mbperrin

(7,672 posts)
1. I was hoping for the guillotine!
Tue Jul 22, 2014, 04:18 PM
Jul 2014

But jail, sure, yeah, okay.

Mozilo is a good start, too, but we need a BUNCH of these guys (as they just about all are) to go!

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