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dennissinned
Progressive but not a Democrat.
07:41 AM on 05/08/2012
"I think we want to move on." -- Today's modern "leaders," such as this guy, just want to take responsibility for all the "successes," and none of the failures.
09:11 AM on 05/08/2012
aka privatize the rewards, socialize the risks
11:50 AM on 05/08/2012
The government took on the risk and everyone knew it they had implicitly backed the subprime mortgage market
11:11 AM on 05/08/2012
aka privatize the profits to the 1%, socialize the losses to the 99%.
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frank1946
Tell the Truth
07:36 AM on 05/08/2012
Needs to move to Las Vegas where they appreciate Hustlers ?

1000 % Leverage is OK with Sandy ?

Bucket of Cold Water on this Fool's Head ! Ditto Robert Rubin !
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MarcDel
thank G they'll blame you for everything
07:21 AM on 05/08/2012
John Reed from Citicorp who participated with Sandy has admitted his role and in doing so confirmed that Sandy was not the type to see the error of his ways. He didn't even want to discuss the matter.
Such human frailty suggests even more that regulation is the only answer. As one insider said, If you leave the smallest hole in regulations the investment banks will find a way through.
07:11 AM on 05/08/2012
Why shouldn't we blame you Mr. Weill? You were the primary advocate of killing Glass-Stegall (so that you and yours could make more money). You were the guy that fired Dimon from Citi, a public company, so that your daughter, a much less talented person, could prevail at Citi. Your greed and avarice, your pride and hubrus, are the seeds of this financial calamity. How does it feel playing tennis on your private courts with your millions or billions while so many ordinary people are having to go to the public courts to file Chaper 7?
06:15 AM on 05/08/2012
It's only because they have hubris like this that they can do what they do.
nothingchanges
too soon old, too late smart
05:11 AM on 05/08/2012
Personal opinion.

The Big Banks aren't Too Big Too Fail.

Our Congress is simply to corrupt to regulate them anymore.

The vast majority of our "representatives" in Congress can't get re-elected on their records, so they NEED those big bucks for their campaigns. Big Bucks Big Business is only too happy to provide, for a price.

The sad thing is..........................it works.

9 out of 10 incumbents will be re-elected............even with a record low 9% approval record.

Our system is broken, and the only ones with the legal authority to fix it, are the ones who got their jobs via a corrupt broken system.

America

We're screwed.
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bryan broome
Hope and Change - If you like it, you can keep it.
06:32 AM on 05/08/2012
Shouldn't Obama and Bush share this responsibility?
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Sagrimore
They can never take my panache
08:32 AM on 05/08/2012
You're saying that the bartender who served drinks to a known alcoholic until he was sh_tfaced and then helped the guy stagger to his car is as much to blame for the injuries of the pedestrian the alcoholic ran over as the emergency room doctor who treated the pedestrian's injuries?

Seriously?

And lets not forget the alcoholic's Republican buddies who kept locking up the ER doctor's instruments and supplies . . . .
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mogluver
If you can pitch, you can catch.
08:41 AM on 05/08/2012
Every President since Reagan has a part in this sad story. Reagan started with Greenspan and the deregulation of industry, airlines, natural gas, to start a few. Once that started to happen, add Newt and his politics of destruction of the two party system in Congress. Newt and Clinton were the targets that Weill used once Citi bought Travelers which was against banking law at the time. The question to ask Obama, "how many prosecutions has your administration had against Wall Street?"
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BDrummer
08:50 AM on 05/08/2012
I think essentially what you've said is that they ARE too big to fail - What this means is that we can't regulate them well enough to ensure that if they fail, they won't ruin our entire economy.
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WhatDaBleep
Right is Wrong and Left is Correct
04:39 AM on 05/08/2012
Typical - not taking blame for their idea yet I bet he would take credit for someone else' achievements.
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MrWampler
04:28 AM on 05/08/2012
"There comes a time when you stop punishing people..."

Who has been punished?
06:16 AM on 05/08/2012
Oh, I love it, Wampler. Really? What punishment? Having the audacity to say something, I guess!
06:19 AM on 05/08/2012
We The People have. Not him or his brethren.
Genders
Love, Tolerance, Enlightenment
04:22 AM on 05/08/2012
Till the banksters, like this guy do the perp walk, we are all just serfs.

The very banksters who crashed the economy with SWAPS gambling, are doing it more and using a 26T$ slush fund from OUR FED!!!!

Finance went from 5% of our economy in 1980 to over 144% when it crashed, made up for with OUR FED 26T$ for free .004%.

More and more intertwined leveraged SWAPS are being used than every before. 100's of trillions in total overhang, that becomes more and more sensitive to the slightest triggers.

The last trigger was the housing downturn. The loans were the horses at the track, the bankster's bonuses would have saved all the toxic loans if the banksters had used it for that as they supposed to.

http://en.wikipedia.org/wiki/Financialization#Financial_turnover_compared_to_gross_domestic_product

Watch "the Money Masters"
http://www.themoneymasters.com/
http://webskeptic.wikidot.com/money-masters-transcripts-part-24
Banksters now literally own us.
http://en.wikipedia.org/wiki/File:Estimated_ownership_of_treasury_securities_by_year.gif

Phase out fractional reserve while issuing greenbacks. That creates a debt free monetary system

“The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity.” Abraham Lincoln
10:05 AM on 05/08/2012
mortgage loans like horses at a race track - good analogy ...

Big bad banking isn't about banking. It's about unregulated gambling with "we, the people" as collateral.
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ResearchGirl
04:19 AM on 05/08/2012
As soon as banks call off house foreclosures, stop enforcing student debt repayments on the families of dead students, and start lending to small businesses, Sandy baby, we can talk. Otherwise, get off of my lawn.
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George McAulay
Pepsi is for when there's no Coke.
03:56 AM on 05/08/2012
In a complete role reversal, these days when you make a transaction with a bank you have to put your hands up while its happening
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blitznstitch
BAZINGA!!!
03:36 AM on 05/08/2012
I am not to blame. I did not buy a house. So how can I be blamed? Yet, I am dealing with the fallout. unemployed.
06:21 AM on 05/08/2012
You are simply right, blitz. Not at fault one bit, but paying the price. Meanwhile, Mr. Weill is living rich!
09:15 AM on 05/08/2012
Yep. we all are paying the price for these clown's greed and irresponsibility, in the form of un and underemploymnet, stagnant and declining wages, lost home and retirement account values, pitiful interest on savings, weakened safety nets and so forth
03:17 AM on 05/08/2012
This is like blaming the repeal of Prohibition for one's alcoholism.
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SamEllison
I feel so clean!
03:08 AM on 05/08/2012
In other words, we got ours, now buzz off!
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structurequity
structurequity not oppression
02:39 AM on 05/08/2012
jail time is in the offing we simply need a locksmith to create one that fits... oh yeah call Cheney he traded his key in for a new heart