Quote:Citigroup, the nation’s third-largest bank by assets, said it would pay $4.5 billion in fines and $2.5 billion in consumer relief.

http://touch.latimes.com/#section/1780/a...-80800611/

Payout seems lopsided to me, this scandal drove one of the worst recessions ever. So Obammy and his minions get $4.5B in fines (Just a drop in the bucket considering how he spends money) and the consumers get $2.5B. And why no criminal charges for the wingnut bankers?

(07-14-2014 07:49 AM)bevotex Wrote:  

Quote:Citigroup, the nation’s third-largest bank by assets, said it would pay $4.5 billion in fines and $2.5 billion in consumer relief.

http://touch.latimes.com/#section/1780/a...-80800611/

Payout seems lopsided to me, this scandal drove one of the worst recessions ever. So Obammy and his minions get $4.5B in fines (Just a drop in the bucket considering how he spends money) and the consumers get $2.5B. And why no criminal charges for the wingnut bankers?

The bankers are not "wingnuts", they play both sides of the system. Obama and the democrats get at least as much money, if not more, from Wall Street. In fact, it is the common ground for OWS and the Tea Party against the respective establishments. Wall Street is not a wingnut (either side) problem, it is a Washington establishment (both sides) problem. Once we recognize this, maybe we can work together to solve this problem that both sides and Main Street America recognize, but party politics in Washington prevent action on.

(07-14-2014 07:58 AM)EverRespect Wrote:  

(07-14-2014 07:49 AM)bevotex Wrote:  

Quote:Citigroup, the nation’s third-largest bank by assets, said it would pay $4.5 billion in fines and $2.5 billion in consumer relief.

http://touch.latimes.com/#section/1780/a...-80800611/

Payout seems lopsided to me, this scandal drove one of the worst recessions ever. So Obammy and his minions get $4.5B in fines (Just a drop in the bucket considering how he spends money) and the consumers get $2.5B. And why no criminal charges for the wingnut bankers?

The bankers are not "wingnuts", they play both sides of the system. Obama and the democrats get at least as much money, if not more, from Wall Street. In fact, it is the common ground for OWS and the Tea Party against the respective establishments. Wall Street is not a wingnut (either side) problem, it is a Washington establishment (both sides) problem. Once we recognize this, maybe we can work together to solve this problem that both sides and Main Street America recognize, but party politics in Washington prevent action on.

Finally....something we agree on!!

If a few suits did some time, that'd help.

As long as Fannie/Freddie are gov't entities, we are in for another round of failures. As in the past the people will make the bankers whole. The offenders will not suffer. Anything that is too big to fail, will fail. We see from experience who picks up the tab. The FEDS loaned foreign banks a trillion dollars in 2008, what happened to that money?

(07-14-2014 09:05 AM)Smaug Wrote:  If a few suits did some time, that'd help.

And not time in Club Fed. They need to be a a place like Angola, Ricker's or the SuperMax in Colorado.

Meh, Club Fed might not be Angola, but it's still not sleeping in your own bed.

(07-14-2014 09:41 AM)Smaug Wrote:  Meh, Club Fed might not be Angola, but it's still not sleeping in your own bed.

True, but Wall Street Execs aren't your average nothing-to-live-for criminals for whom life in a pound you in the a** prison is no big deal. The hedge fund manager might decide to think twice about that insider trading if they know getting caught is going to transport them is a world of hurt they can't even comprehend.

(07-14-2014 10:18 AM)vandiver49 Wrote:  

(07-14-2014 09:41 AM)Smaug Wrote:  Meh, Club Fed might not be Angola, but it's still not sleeping in your own bed.

True, but Wall Street Execs aren't your average nothing-to-live-for criminals for whom life in a pound you in the a** prison is no big deal. The hedge fund manager might decide to think twice about that insider trading if they know getting caught is going to transport them is a world of hurt they can't even comprehend.

True, but in that same vein, even Club Fed will be a lot less fun than they're used to. These guys think "roughin' it" is a hotel with crappy wifi.

(07-14-2014 08:42 AM)Old Dominion Wrote:  

(07-14-2014 07:58 AM)EverRespect Wrote:  

(07-14-2014 07:49 AM)bevotex Wrote:  

Quote:Citigroup, the nation’s third-largest bank by assets, said it would pay $4.5 billion in fines and $2.5 billion in consumer relief.

http://touch.latimes.com/#section/1780/a...-80800611/

Payout seems lopsided to me, this scandal drove one of the worst recessions ever. So Obammy and his minions get $4.5B in fines (Just a drop in the bucket considering how he spends money) and the consumers get $2.5B. And why no criminal charges for the wingnut bankers?

The bankers are not "wingnuts", they play both sides of the system. Obama and the democrats get at least as much money, if not more, from Wall Street. In fact, it is the common ground for OWS and the Tea Party against the respective establishments. Wall Street is not a wingnut (either side) problem, it is a Washington establishment (both sides) problem. Once we recognize this, maybe we can work together to solve this problem that both sides and Main Street America recognize, but party politics in Washington prevent action on.

Finally....something we agree on!!

I think we can find some common ground on college sports as well.

(07-14-2014 10:50 AM)EverRespect Wrote:  

(07-14-2014 08:42 AM)Old Dominion Wrote:  

(07-14-2014 07:58 AM)EverRespect Wrote:  

(07-14-2014 07:49 AM)bevotex Wrote:  

Quote:Citigroup, the nation’s third-largest bank by assets, said it would pay $4.5 billion in fines and $2.5 billion in consumer relief.

http://touch.latimes.com/#section/1780/a...-80800611/

Payout seems lopsided to me, this scandal drove one of the worst recessions ever. So Obammy and his minions get $4.5B in fines (Just a drop in the bucket considering how he spends money) and the consumers get $2.5B. And why no criminal charges for the wingnut bankers?

The bankers are not "wingnuts", they play both sides of the system. Obama and the democrats get at least as much money, if not more, from Wall Street. In fact, it is the common ground for OWS and the Tea Party against the respective establishments. Wall Street is not a wingnut (either side) problem, it is a Washington establishment (both sides) problem. Once we recognize this, maybe we can work together to solve this problem that both sides and Main Street America recognize, but party politics in Washington prevent action on.

Finally....something we agree on!!

I think we can find some common ground on college sports as well.

August 30 Baby!!! We become united.

(07-14-2014 07:49 AM)bevotex Wrote:  

Quote:Citigroup, the nation’s third-largest bank by assets, said it would pay $4.5 billion in fines and $2.5 billion in consumer relief.

http://touch.latimes.com/#section/1780/a...-80800611/

Payout seems lopsided to me, this scandal drove one of the worst recessions ever. So Obammy and his minions get $4.5B in fines (Just a drop in the bucket considering how he spends money) and the consumers get $2.5B. And why no criminal charges for the wingnut bankers?

Personally, I think this payout is lopsided as it is too much against Citigroup. The "consumers" that are complaining here are sophisticated consumers that did not do their due diligence and investigate the underlying loans of the their investment product. Due to gov't intervention, the securities they traded in had much more subprime lending then ordinary and they didn't do their research to figure this out. These "consumers" (a/k/a brokerage houses and pension fund managers) get paid to avoid these things. They should be the ones reimbursing their funds and clients for not doing their jobs. All that Citi did was what they always did, they offered a security product and pushed sales of it. It is up to the investor to check it out.