Credit Crunch Villains

[Iamnotausername]

In light of the Lehman Brothers collapse which is going to plunge the western economies into further trouble. We gotta think about who is responsible for this.

My father works for JPM Chase as an It system maintenance operator, which has been one of the more prudent merchant banks, my uncle works for a Swiss Bank ( I forget the name) in Warsaw, from what I can gather its city investors (city bankers, we have a lovely slang term for wankers in London eh?).

These ****ers have single handedly ****ed up western economies through sheer greed. By investing money that wasnt there, making people invest in something which doesnt exist, which has created a tangled web of interlinked investments which are hard to trace but depend on each other. And like a house of cards when one component falls (sub sprime mortgages) the whole shebang comes crashing down).

Who is gonna pick up the bill for this debacle? You and me the ordinary taxpayer. Whilst the people who are responsible for this are gonna walk away with million + golden handshakes, whilst the ordianry workers (clerks, secretaries etc) are at risk of losing their homes and savings. In short the ****ers are laughing off into the sunset in wake of the mess that they have made. In short they have gambled our money away and lost whilst not taking any responsibility for their actions. BUT WAIT theyre actually gonna be richer as a result of it

They have ****ing raped the ordinary working population for all they can get and the government protects these people!!!

Do you think that is fair? If i ever meet one of these city bankers It will take all my restraint to stop myself from caving their heads in. if i had a shotgun I would blow their heads off. If I see them with their thousand dollar + Rolex I will rob them, because they have robbed from us.

[Spare Moody]

**** em. and by that, i mean the ordinary citizens who are supposedly suffering. **** happens all the time that affects us in positive/negative ways. the rich always benefit. you can either work through your challenges as an adult or act like a child blaming everyone else while crying about unfairness.

[Iamnotausername]

**** em. and by that, i mean the ordinary citizens who are supposedly suffering. **** happens all the time that affects us in positive/negative ways. the rich always benefit. you can either work through your challenges as an adult or act like a child blaming everyone else while crying about unfairness.

Yeah **** happens in a positive negative way, but nothing on this scale has happened during ours or our even most of our parents lifetime. I'm not some naive lefty, I spent a week with my uncle who has 30 years experience working for international banks, he basically told me this isnt just some boom and bust cycle, but something a whole lot bigger, and the effects are gonna be felt for years to come. In as many words he told me its time to start taking Chinese or Russian lessons if you wanna get a head start when things start picking up, cos that is where all the money is gonna be, because they are gonna stay relatively stable.

Do you think its fair that the people who are responsible for this are walking away better off, and the people who are in no way responsible, but are just doing a job to raise a family are the ones who suffer? I dont

I could understand if these bankers were being held to account, but they are pretty much being rewarded. Which is ****ed up. Everyone has no choice but to work through it.We actually have a right 'to act like a child and cry about unfairness' because it is fundamentally unfair and it sickens me that the engineers of this situation get off pretty much scot free. Since deregulation the investors have had pretty much carte blanche to do whatever they want and we are to pick up the pieces for their **** ups.

[baddest]

Yeah **** happens in a positive negative way, but nothing on this scale has happened during ours or our even most of our parents lifetime. I'm not some naive lefty, I spent a week with my uncle who has 30 years experience working for international banks, he basically told me this isnt just some boom and bust cycle, but something a whole lot bigger, and the effects are gonna be felt for years to come. In as many words he told me its time to start taking Chinese or Russian lessons if you wanna get a head start when things start picking up, cos that is where all the money is gonna be, because they are gonna stay relatively stable.

Do you think its fair that the people who are responsible for this are walking away better off, and the people who are in no way responsible, but are just doing a job to raise a family are the ones who suffer? I dont

I could understand if these bankers were being held to account, but they are pretty much being rewarded. Which is ****ed up. Everyone has no choice but to work through it.We actually have a right 'to act like a child and cry about unfairness' because it is fundamentally unfair and it sickens me that the engineers of this situation get off pretty much scot free. Since deregulation the investors have had pretty much carte blanche to do whatever they want and we are to pick up the pieces for their **** ups.

I agree to some extent. This administration was careless in its philosophy towards the economy. Deregulation creates lawlessness and an atmosphere where the greedy get greedier and the average joe gets shafted. Now you see all these companies coming t othe government looking for bailouts as if we're a socialist state! whats even worst is, the fannie mae's, the freddie macks, the lehmann brothers are so interconnected and so big in our economy that we're forced to bailout these ****ups; all the while the same guys who ****ed up roll out with millions. If only we could punish them or the IRS could freeze their assets for being so careless with people's money.

[Spare Moody]

Yeah **** happens in a positive negative way, but nothing on this scale has happened during ours or our even most of our parents lifetime. I'm not some naive lefty, I spent a week with my uncle who has 30 years experience working for international banks, he basically told me this isnt just some boom and bust cycle, but something a whole lot bigger, and the effects are gonna be felt for years to come. In as many words he told me its time to start taking Chinese or Russian lessons if you wanna get a head start when things start picking up, cos that is where all the money is gonna be, because they are gonna stay relatively stable.

they say that every time **** hits the fan. not to undermine this situation but i'm not gonna let it make me a stressball. if we hafta learn Russian and Chinese then we learn it. no biggie.

Do you think its fair that the people who are responsible for this are walking away better off, and the people who are in no way responsible, but are just doing a job to raise a family are the ones who suffer? I dont

of course it's not fair. lots of **** isn't fair. i just don't feel pity for these families. i was one of the first groups that tanked in this whole mess. i don't ask for anyone's sympathy. i knew what i was getting into and i'm doin the best to get out of it. whoopdie do. move on.

I could understand if these bankers were being held to account, but they are pretty much being rewarded. Which is ****ed up. Everyone has no choice but to work through it.We actually have a right 'to act like a child and cry about unfairness' because it is fundamentally unfair and it sickens me that the engineers of this situation get off pretty much scot free. Since deregulation the investors have had pretty much carte blanche to do whatever they want and we are to pick up the pieces for their **** ups.

welcome to the corporate world.
but very few of these bankers and financial institutions actually broke the law. they found ways to work within it and based a structure on intangible factors. happens all of the time. **** hits the fan sometimes. we're a strong nation and so is Europe. we'll work through this. and actually, some the hedge funders are going to prison.

[Spare Moody]

I agree to some extent. This administration was careless in its philosophy towards the economy. Deregulation creates lawlessness and an atmosphere where the greedy get greedier and the average joe gets shafted. Now you see all these companies coming t othe government looking for bailouts as if we're a socialist state! whats even worst is, the fannie mae's, the freddie macks, the lehmann brothers are so interconnected and so big in our economy that we're forced to bailout these ****ups; all the while the same guys who ****ed up roll out with millions. If only we could punish them or the IRS could freeze their assets for being so careless with people's money.

most of them didn't do anything illegal. and freezing up their assets is going to do absolutely nothing for a multi trillion dollar deficit. if our government needs to do something it needs to be focusing on realistic and practical solutions, rather than wasting its efforts in incorporating pointless punishment on rich people just to make the average joe feel better.

[baddest]

most of them didn't do anything illegal. and freezing up their assets is going to do absolutely nothing for a multi trillion dollar deficit. if our government needs to do something it needs to be focusing on realistic and practical solutions, rather than wasting its efforts in incorporating pointless punishment on rich people just to make the average joe feel better.

True, but a public example would show that everyone is accountable for their actions and at least make future shady economic oppurtunist think twice before gambling people's life savings for their own pleasure. I've read a little bit in TIME about the current FDIC(or fed bank or something) head and I think he's doing as much as possible to try and save the economy and is a commendable dude, but I still think no one should be vindicated and leave with their hands dirty.

[Spare Moody]

True, but a public example would show that everyone is accountable for their actions and at least make future shady economic oppurtunist think twice before gambling people's life savings for their own pleasure. I've read a little bit in TIME about the current FDIC(or fed bank or something) head and I think he's doing as much as possible to try and save the economy and is a commendable dude, but I still think no one should be vindicated and leave with their hands dirty.

nooooo. that's not how it's handled. people who commit illegal activities go to jail. people who work within the system, but inevitably cause a downfall, result in that particular system being regulated. these regulations assure we don't see another Black Monday, Savings & Loans scandal, or mortgage collapse. a fairytail witch hunt will accomplish nothing. we need to focus on results and not good feelings.

and even though we won't have these exact same things happen again, future business people will conjure up some ****, make lots of money, cost others more, and that's the way it works. the economy goes up, the economy goes down. you can't bust somebody for selling a designer drug if that drug is legal.

[Iamnotausername]

I agree to some extent. This administration was careless in its philosophy towards the economy. Deregulation creates lawlessness and an atmosphere where the greedy get greedier and the average joe gets shafted. Now you see all these companies coming t othe government looking for bailouts as if we're a socialist state! whats even worst is, the fannie mae's, the freddie macks, the lehmann brothers are so interconnected and so big in our economy that we're forced to bailout these ****ups; all the while the same guys who ****ed up roll out with millions. If only we could punish them or the IRS could freeze their assets for being so careless with people's money.

Agreed! Over here we had Gordon brown saying he guided an unprecedented period of growth as Chancellor. As soon as he comes in to power it all goes **** up. Thats karma for ya there.

they say that every time **** hits the fan. not to undermine this situation but i'm not gonna let it make me a stressball. if we hafta learn Russian and Chinese then we learn it. no biggie.

My point is if these investors werent so greedy, we wouldnt have to think about learning it. Its pretty much down to dick swinging. Guys saw other blokes making more money and they wanted a piece and it became a game of oneupmanship.

of course it's not fair. lots of **** isn't fair. i just don't feel pity for these families. i was one of the first groups that tanked in this whole mess. i don't ask for anyone's sympathy. i knew what i was getting into and i'm doin the best to get out of it. whoopdie do. move on.

You may have known what you were getting into, a lot of people didnt. They were duped by the media, banks and government into thinking it was fine that they could just borrow credit and there be no consequence. If the banks didnt offer all this 'free money' (which is what it was almost marketed as) then people wouldnt take it and they would have been more prudent and have a sound financial base.

welcome to the corporate world.
but very few of these bankers and financial institutions actually broke the law. they found ways to work within it and based a structure on intangible factors. happens all of the time. **** hits the fan sometimes. we're a strong nation and so is Europe. we'll work through this. and actually, some the hedge funders are going to prison.

I have no dount we'll work through it. I'm gonna make this clear. Me and my family are in no way gonna be affected by this apart from having a slightly less disposable income. We never borrowed money we didnt have. We bought our house when prices were last rock bottom and the house has gone over triple in value of the original price. Infact I am actually going to benefit from this as whilst everything was booming I was not gonna be able to afford a house(**** renting). Now within a couple of years I am gonna be able to get a decent size house which I may stand to do well on when house prices peak again.

What my problem is is that ,I had to spend 4 years at university with sons and daughters of these investor types and the attitude turns my stomach. its all about the money to them. They know they cant be touched and they dont give a **** if their actions impact on ordinary workers, cos hey, theyre still rich. They are just perpetuating an outlook passed down to them. nothing will change and in 20 years we may very well be in the same situation again. Whereas with a bit more prudence, whilst there will still be dips and peaks, it would be better for everyone.

most of them didn't do anything illegal. and freezing up their assets is going to do absolutely nothing for a multi trillion dollar deficit. if our government needs to do something it needs to be focusing on realistic and practical solutions, rather than wasting its efforts in incorporating pointless punishment on rich people just to make the average joe feel better.

The governments need to be seen to be doing something, otherwise its just sends the wrong message. Yeah its P.R. but it may actually scare city types into being a bit more careful with other peoples money in the future.

[PBDS]

.....Investors, speculators, brokerage houses, big banks, and the FED are responsible. This is the worst situation since the great depression IMO. small local banks are failing at an alarming rate and I'n not sure that BofA being allowed to aquire Merrill is such a good idea either. IMO BofA is on shaky ground themselves and the ****rywide takeover is a nightmare. When you see tons of empty retail space, long standing restaurants closing their doors, banks failing, and large builders going under, then you knowthe **** is hitting the fan. IMO we have also only seen the tip of the foreclosure iceberg as well.