Pages: 1

 

2009-08-12 21:23:53
Harmor
Error_Name_Not_Found
+605|6840|San Diego, CA, USA
Source: http://www.nydailynews.com/money/toplis … risis.html

Here's a partial list of the notable people on this list:

1. Joe Cassano - former President of AIG; and Angelo Mozilio - co-founder and former CEO of mortgage lender Countrywide
2. Phil Gramm (R) - chairman of the Senate Banking Committee from 1995-2003
3. Alan Greenspan - former Federal Reserve Chairman
4. Christopher Cox - former chief of the SEC
5. The American Consumer
6. Hank Paulson - former Goldman Sachs exec
11. Richard Fuld - former CEO of Lehman Brothers
13. Bill Clinton - former President of the United States
14. George W. Bush - former President of the United States
15. Stan O'Neal - former CEO at Merrill Lynch
16. Wen Jiabao - Premier of the State Council of the People's Republic of China
19. Bernard Madoff - pull off $50 billion Ponzi scheme
20. Lewis Ranieri - repackaged bad loans as good
23. Sandy Weill - built Citigroup


Who I don't find on the list was Congressman Charles B. Rangel (D) and others who forced into law for low-income housing provisions.
2009-08-12 21:30:48
Macbeth
Banned
+2,444|5877

Bernard Madoff? Lets be serious now he may have screwed over a bunch of folk but he is in no way responsible for this recession.
2009-08-12 21:31:27
Poseidon
Fudgepack DeQueef
+3,253|6829|Long Island, New York
American Consumer should be #1.
2009-08-12 21:33:18
Turquoise
O Canada
+1,596|6697|North Carolina

Poseidon wrote:

American Consumer should be #1.
lol... pretty much.
2009-08-12 21:38:26
Poseidon
Fudgepack DeQueef
+3,253|6829|Long Island, New York

Turquoise wrote:

Poseidon wrote:

American Consumer should be #1.
lol... pretty much.
@ karma - we had one, remember? Seems people on certain sides of the government as well as consumers don't like to remember what caused it.
2009-08-12 21:48:53
ATG
Banned
+5,233|6821|Global Command

Macbeth wrote:

Bernard Madoff? Lets be serious now he may have screwed over a bunch of folk but he is in no way responsible for this recession.
He didn't help.

One of the big guns is revealed a fraud. Other investors become paranoid. Markets drops.




It's not just that these people on the list are epic fuck ups, they have an agenda.

lol at Clinton eating a $240.00 wagyu steak.

What a prick.
2009-08-12 22:10:01
Kmar
Truth is my Bitch
+5,695|6892|132 and Bush

Wow TIME. Way to play to the lowest common denominator.

Most of the problems were caused by people who weren't technically breaking any laws. 90% of the burden imo goes to Congress and their embarrassingly slow reaction times. Of course I highly doubt that their incompetence is entirely unintentional. We had numerous legal flaws in the system and Congress did virtually nothing about them until it was too late.
Xbone Stormsurgezz
2009-08-12 22:28:08
Turquoise
O Canada
+1,596|6697|North Carolina

Kmarion wrote:

Wow TIME. Way to play to the lowest common denominator.

Most of the problems were caused by people who weren't technically breaking any laws. 90% of the burden imo goes to Congress and their embarrassingly slow reaction times. Of course I highly doubt that their incompetence is entirely unintentional. We had numerous legal flaws in the system and Congress did virtually nothing about them until it was too late.
I thought the list was pretty accurate in many respects.

Then again, our system itself is based on limitless greed, so it's not surprising that this sort of thing happens from time to time.
2009-08-12 22:37:02
Diesel_dyk
Object in mirror will feel larger than it appears
+178|6286|Truthistan

Poseidon wrote:

American Consumer Investor should be #1.
Fixed, trying to get something without work makes you an unnecessary middleman and by definition a parasite on the economy.
And if Bernie Madoff made the list, so too should his investor, afterall their greed for high returns lead them to put their money in his black box... you know what they say "a sucker is born every minute" and a greed is a con man's friend.

I'm surprised that the consumer who is the backbone of the economy gets the broad paint brush,
I would say why not paint "wall street" with the same broad brush

OR how about the CNBC pom pom rah rah parade with their "the market is going higher!!!! the market is going higher!!!! its great!!! its great!!!! better get on it or you're gonna miss it!!!!..... POP!!!!!! oh poop.....

Wall street has become nothing but a game of chance that's a cross between a pyramid scheme, musical chairs and hot potato.

Oh there is so much blame to go around but the list is a good start.
2009-08-12 22:44:36
Kmar
Truth is my Bitch
+5,695|6892|132 and Bush

Turquoise wrote:

Kmarion wrote:

Wow TIME. Way to play to the lowest common denominator.

Most of the problems were caused by people who weren't technically breaking any laws. 90% of the burden imo goes to Congress and their embarrassingly slow reaction times. Of course I highly doubt that their incompetence is entirely unintentional. We had numerous legal flaws in the system and Congress did virtually nothing about them until it was too late.
I thought the list was pretty accurate in many respects.

Then again, our system itself is based on limitless greed, so it's not surprising that this sort of thing happens from time to time.
Short term. .. I could name half a dozen more high profile cases over the last 10 years if you like..

We had shady lending practices going on in the trillions (annually). .. shady= technically legal. Our legislature has had their head in the sand for way too long, only pretending to care when it's time to pay the price.

Again, most of this was not caused by corporate scandals.. although if you just look at the numbers on a topical level you might get that impression. 50 billion sure does seem like a lot. But that is the total of numerous years. There should have been serious investigations a long time ago. From what I've seen the signs were clear. This means the people who are responsible for catching these issues before they get like this failed. That is the root of the problem. Business will always jockey to take advantage of the laws, getting out every ounce of opportunity. You can not change that. It is why I said they (TIME) are playing to the simple minded. The people who eagerly consume the sacrificial lambs and walk away satisfied.

Look deeper and you'll see the real villains didn't make the list. TIME is a joke. They could have offered up something of value but they didn't.
Xbone Stormsurgezz
2009-08-12 23:03:32
SealXo
Member
+309|6827
this list is stupid

the FED should be number one
with timmmy g and benny b but they wont say that cuz they're obamas boss

and bernie madoff? wtf?

Last edited by SealXo (2009-08-12 23:04:00)

2009-08-12 23:07:39
Kmar
Truth is my Bitch
+5,695|6892|132 and Bush

SealXo wrote:

this list is stupid

the FED should be number one
with timmmy g and benny b but they wont say that cuz they're obamas boss

and bernie madoff? wtf?
Greenspan did make it... but they should have continued in that direction imo.
Xbone Stormsurgezz
2009-08-12 23:08:22
Diesel_dyk
Object in mirror will feel larger than it appears
+178|6286|Truthistan

SealXo wrote:

this list is stupid

the FED should be number one
with timmmy g and benny b but they wont say that cuz they're obamas boss

and bernie madoff? wtf?
WTF^^^^^^^^QFT big time

Where is the Fed on this list? They are the ones presiding over the huge M3 bubble and the low interest rates at a time when the asset bubbles were being created and the monetization of the debt AND the devaluation of the dollar. How are they NOT on the list?

I guess the Fed would have Time shut down or something.
2009-08-13 00:50:01
BN
smells like wee wee
+159|7060
Clinton is more guilty than Bush.??

Dear lord.
2009-08-13 00:51:15
Cybargs
Moderated
+2,285|7008

BN wrote:

Clinton is more guilty than Bush.??

Dear lord.
NAFTA. And that housing loan bill.
https://cache.www.gametracker.com/server_info/203.46.105.23:21300/b_350_20_692108_381007_FFFFFF_000000.png
2009-08-13 01:02:38
..teddy..jimmy
Member
+1,393|6941
1. Lack of city regulation. Times were good, people didn't want to regulate in fear of upsetting the trend. Look at why Maddof didn't get caught.
2. The consumer
2. Greedy investment bankers/ share analysts who didn't mind taking short-cuts to secure themselves bigger bonuses.
2009-08-13 01:51:56
PureFodder
Member
+225|6577
Any economist who failed to notice a multi-trillion dollar bubble in a market hold a share of the blame.
2009-08-13 03:31:56
Poseidon
Fudgepack DeQueef
+3,253|6829|Long Island, New York

SealXo wrote:

this list is stupid

the FED should be number one
with timmmy g and benny b but they wont say that cuz they're obamas boss

and bernie madoff? wtf?
Yes, let's place the blame on the start of something (which started in 2007) on someone who got into office in January 2009.

Prolonging it is arguable, but starting it? Take off the blinders for a sec.

Cybargs wrote:

BN wrote:

Clinton is more guilty than Bush.??

Dear lord.
NAFTA. And that housing loan bill.
This. People seem to think that this is all GWB's fault (or in the right's case, all Obama's fault, which like the above is not really possible..) in terms of presidents.

The blame can probably go farther back than Clinton too.
2009-08-13 03:54:55
Flaming_Maniac
prince of insufficient light
+2,490|6999|67.222.138.85
Hi, I'm a human with a brain the size of a walnut, and I need to blame someone for my misfortune. Please direct me to the nearest torch and pitchfork store and provide me with the names and addresses of people I should turn into scapegoats in order to make myself feel better with as little work and guilt as possible.
2009-08-13 04:46:45
BN
smells like wee wee
+159|7060

Poseidon wrote:

SealXo wrote:

this list is stupid

the FED should be number one
with timmmy g and benny b but they wont say that cuz they're obamas boss

and bernie madoff? wtf?
Yes, let's place the blame on the start of something (which started in 2007) on someone who got into office in January 2009.

Prolonging it is arguable, but starting it? Take off the blinders for a sec.

Cybargs wrote:

BN wrote:

Clinton is more guilty than Bush.??

Dear lord.
NAFTA. And that housing loan bill.
This. People seem to think that this is all GWB's fault (or in the right's case, all Obama's fault, which like the above is not really possible..) in terms of presidents.

The blame can probably go farther back than Clinton too.
NAFTA: George H.W. Bush negotiated a lot of it and Clinton inherited it. Out of 234 votes 132 of them were republican.




edited for spelling

Last edited by BN (2009-08-13 04:47:11)

2009-08-13 05:02:31
specialistx2324
hahahahahhaa
+244|6980|arica harbour

Poseidon wrote:

American Consumer should be #1.
i agree just like someone else. too many american douchebags doing the following

1) borrowing 25K from an equity of the house just to get a nice corvette or a new pool, but after 30 days they get a letter that says to pay the bank back in monthly installments, and they go " WTFIMNOTPAYINGTHIZMOFOBILLFU"

2) buying things they dont need, like 2 damn cell phones for the same person when people around me barely have a decent cell phone. especially those expensive ass iphones. some old bastard in best buy dropped $700.00 buying an iphone without a contract and didnt blink an eye WTF....

3) cant pay them stupid credit cards which in my opinion is basically putting c4 and blowing up your credit report. i keep mines under $300.00 every month especially when i have a huge ass credit limit.

4) spending too much for something when you can buy it online.


5) 12/18/24/36 months with no interest is absolutely crap.. either way the store that is selling you the goods gets their money. there is no difference between monthly payments every month and spending X amount of dollars ON THE SPOT. either way they get their paper.



ive learn several things from my folks and friends over the years: never borrow money that you cant pay back, if you really want something find 3 alternatives onwhich you need to spend your money , use your Credit card to cover at least 25% of a particular item then the rest cash....

 

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