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HUFFPOST SUPER USER
jwilson1
12:59 PM on 06/27/2012
Fraud is Fraud! Call it what it is!
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HUFFPOST SUPER USER
ging100
I luv NY !!!
12:56 PM on 06/27/2012
ehhh- whats another $450million- peanuts !!! we'll just move on to the next deal and recoup those + more...Regulations? forget about it- just impeding progress and from making more money at the expense of others....
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ylobrkrd
outoutdamnspot
12:55 PM on 06/27/2012
I read elsewhere they came to some sort of deal. The old mortgage loans that adjust monthly will keep the same method of determining the rate and then the new ones will go by a new method.

Well now what the heck might that method be? Quick somebody call them up and pretend to be a trader and keep the rate low. Oh, thanks cause I have an old Libor mortgage and I refuse to take the beatdown Throw this on the pile of stupid emails. Please
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HUFFPOST SUPER USER
Katina Cooper
my friends made me dress up and pose
12:52 PM on 06/27/2012
Why would anybody worry about regulations when they own the governing agency who is suppose to oversee what they do?
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HUFFPOST SUPER USER
OnandUpwards2011
01:26 PM on 06/27/2012
Good point
12:51 PM on 06/27/2012
Good job! How many of these people are we going to prosecute criminally? Half a billion dollar fine? Very incriminating emails? Why can we not throw bankers in prison!?
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01:20 PM on 06/27/2012
that is the problem, it wont change until the penalties are severe enough to discourage this type of criminal behavior, but when they are to big too fail they get a slap on the wrist, punish them to much and they threaten the economy with failure, they need to be taken apart one by one until the threat is eliminated
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HUFFPOST SUPER USER
Devin DeWeil
Live, laugh, and LOVE LIFE!!!
01:53 PM on 06/27/2012
We can. We just won't. And the reason??

Citizens United at any corporation's (especially banks) service, allowing them to buy WHATEVER politician that will tilt laws in their favor.
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HUFFPOST COMMUNITY MODERATOR
iEye
Captain
12:50 PM on 06/27/2012
It is the regulations that protect the bankers, not constrain them. Regulations that limit their liability and guarantee bailouts. Regulations written by the regulated.

If we had just let the market work, most of the bad actors would have gone bankrupt due to their bad decisions. Instead, the government bailed them out, preventing a market correction and propping up cancerous institutions.
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01:25 PM on 06/27/2012
It was deregualting them that allowed those behaviors, allowing them to merge into super beasts capable of destroying the world economy, once deregulated and troubled they then called for bailouts, leaving few options, had they failed many more people would have suffered. The regulations didnt limit thier liability, it was deregulating them that eliminated liability allowing them to hold the economy as a hostage. Get banks and corporation out of government
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HUFFPOST COMMUNITY MODERATOR
iEye
Captain
03:14 PM on 06/27/2012
If you want to get business out of government then you have to get government out of business. Regulators always wind up serving the regulated, ever since our first regulatory agency, the ICC, was bought off by railroad tycoons in the late 19th century.

It wasn't deregulation that allowed the banks to grow so huge. It was government bailouts, cheap money, and regulations that favor the largest players. Fines that bankrupt small firms but are just a drop in the bucket for the mega-banks. Rules easily skirted by the politically connected, but imposed on their competitors. Just look at Jon Corzine lobbying for regulations that impacted his competitors, but was himself able to dodge thanks to the friends he made in office.
12:48 PM on 06/27/2012
It's a mystery.
12:47 PM on 06/27/2012
We have lost our way.

Bankers need to harness their Lib(id)or.
GlenRastell
Niether the left nor right tells me wha to think
12:44 PM on 06/27/2012
Mitt says we need to remove all regulation of the financial industry because we can trust these people?
01:05 PM on 06/27/2012
Unbelievable
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HUFFPOST SUPER USER
OnandUpwards2011
01:29 PM on 06/27/2012
Faved point. Said people don't see that regulation is key in stamping out this kind of behaviour.
12:40 PM on 06/27/2012
"When will bankers learn to stop sending each other dumb emails?"

On their defense, to be able to commit fraud they need to leave behind a paper trail to pull a complex scheme.
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Chubbster
Partisanship is a mental illness
12:30 PM on 06/27/2012
It's not "dumb." It is more fraud as usual. Remind me: Where does the buck stop?
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03:14 PM on 06/27/2012
Where does the buck stop? Hmmm....let me guess...with the taxpayer footing the bill ONCE AGAIN.