We bailed you out ... and now you want what? Can you believe this??

2015-06-13T10:58:23-04:00

Americans were angry when Wall Street’s greedy and risky behavior triggered a global financial crisis in 2008. They were angrier still when the government had to borrow and spend hundreds of billions of dollars to rescue mortgage giants Fannie Mae and Freddie Mac, the largest banks and the insurance company AIG. They were outraged when they found out that executives at those enterprises were continuing to receive big salaries and bonuses.

So just imagine how it outrageous it would be if some Wall Street sharpies went to court to argue that they didn’t benefit enough from the bailouts and that taxpayers should pay them tens of billions of dollars more.

In fact, they did. And, according to legal observers, they just might prevail.

http://www.msn.com/en-us/money/markets/we-bailed-you-out-and-now-you-want-what/ar-BBkMp2m

We bailed you out, and now you want what?!

Americans were angry when Wall Street’s greedy and risky behavior triggered a global financial crisis in 2008. They were angrier still when the government...

Response by MSgt Private RallyPoint Member made Jun 13 at 2015 11:04 AM

2015-06-13T11:04:19-04:00

Well, I would love to tell each of these idiots how I truly feel. Kissing a certain part of my body comes to mind and even sucking two other parts.

Whatever.

Response by SSG Private RallyPoint Member made Jun 13 at 2015 11:10 AM

2015-06-13T11:10:29-04:00

GTFO outta here....this is unreal. Whiskey Tango Foxtrot.

Response by SPC Jeffrey Bly made Jun 13 at 2015 11:20 AM

2015-06-13T11:20:49-04:00

Scumbags.

Response by SPC Jan Allbright, M.Sc., R.S. made Jun 13 at 2015 12:08 PM

2015-06-13T12:08:33-04:00

Classic "trickle down" theory.
Put money in the top
Sub-prime mortgages come out the bottom.

Response by MAJ Robert (Bob) Petrarca made Jun 13 at 2015 12:12 PM

2015-06-13T12:12:15-04:00

I read this the other day and wanted to vomit. Are they serious? The government hasn't bailed out a single citizen and these AHs are claiming their profits were damaged. Then after they were bailed out they essentially tightened their lending so much that they screwed customers but WE owe THEM? MFs all of them.

Response by CAPT Kevin B. made Jun 13 at 2015 12:34 PM

2015-06-13T12:34:22-04:00

Mixing Freddie and Fannie with Wall Street isn't a good thing as what Freddie/Fannie did was far worse. Their boards are made up of liberals who under the guise of "Social Justice" forced banks to put risky loans out. So many that when the bubble burst, that had much more to do with the recession than anything Wall Street.

Now both Freddie/Fannie are starting back down the same road to disaster by lowering down payments and eligibility criteria. Until we replace the entire leadership of these two institutions with nonpolitical financial experts, it's just a matter of time when it will happen again.

Response by Sgt Aaron Kennedy, MS made Jun 13 at 2015 12:51 PM

2015-06-13T12:51:19-04:00

Stepping outside the specifics of this case, but looking at it from more of a conceptual level.

"Technically" speaking, the bailout was handled wrong. That in turn led to a situation where there is a valid argument.

I do not like it. I think it's sleazy as hell. Repeat, do not like it, and think it is sleazy as hell. But, Right & Wrong, and Legal & Illegal do not directly correlate. This puts us in the situation as outlined in the article.

The problem is that our legal system is designed to protect not only the innocent, but sleazeballs as well. When we (the government) make missteps trying to prevent a larger catastrophe, we open the door for issues exactly like this.

The bigger issue is the failure to prosecute adequately.

Response by PO1 Kerry French made Jun 13 at 2015 12:53 PM

2015-06-13T12:53:55-04:00

didn't help that there was legislation that REQUIRED banks to make risky loans to people who had no business buying a house with that stupid adjustible mortgage rate... you know, the one that was good for 5 years and then ballooned to a cost that the home owners couldn't afford? You can thank Clinton for that crazy "Community Reinvestment Act" that caused that.

Response by SrA Daniel Hunter made Jun 13 at 2015 1:24 PM

2015-06-13T13:24:35-04:00

Ridiculous! The problem is we no longer live in a Capitalist-Republic. We live in a Corporatist-Olygarchy. In capitalism poor business decisions that lead to the failure of a business are aloud to do just that. That also means some people lose their investment in those companies. This is the result of the laws passed after the stock market crash of 1929. We changed from a buyer beware (Caveat Emptor) to a full disclosure investment system. In doing so the investor forgot the buyer beware and relied on full disclosure to protect them. That was foolish. The bail out presumption now encourages irresponsible behavior. That is not capitalism. Let them fail. Let people lose their investment. Some personal responsibility is a good thing.

Response by SSG Roger Ayscue made Jun 13 at 2015 8:45 PM

2015-06-13T20:45:39-04:00

Yoda?

Response by SSG Roger Ayscue made Jun 13 at 2015 8:45 PM

2015-06-13T20:45:58-04:00

Yoda?

Response by Capt Jeff S. made Aug 19 at 2015 5:32 AM

2015-08-19T05:32:12-04:00

Greed is never satisfied.