Why didn’t any Wall Street CEOs go to jail after the financial crisis? (2019)

Re:Why didn’t any Wall Street CEOs go to jail after the fina... by nickff on Tuesday August 24, 2021 @03:56PM (#28294094)

>"If none of the actions that caused all that misery are actually crimes, that's the problem. "

Why? Why should the stock market be further de-risked? Why should the government's poor impulse control be encouraged? Why should mistakes be criminalized?

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Re:Why didn’t any Wall Street CEOs go to jail after the fina... by ryandrake on Tuesday August 24, 2021 @04:03PM (#28294195)

I didn't say anything about the stock market. Reckless decisions made by rich banks and financiers should not effect anyone but themselves, let alone cause economy-wide crises that hurt regular people.

Could you imagine if I went off to Macau to play a high stakes game of poker, lost, and as a result, you lost your job and the government staked me in my next poker game? That's pretty much what happened.

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Re:Why didn’t any Wall Street CEOs go to jail after the fina... by nickff on Tuesday August 24, 2021 @04:30PM (#28294596)

You said "401(k)s", so I assumed you meant investments in publicly traded equities; my apologies if I was mistaken.

>"Could you imagine if I went off to Macau to play a high stakes game of poker, lost, and as a result, you lost your job and the government staked me in my next poker game? That's pretty much what happened."

I understand what happened, I just don't see it the same way you do. It's not your fault if I lose my job because it relied on your gambling, and it's also not your fault that my government makes stupid bets.

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