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by tired-turtle 135 days ago
If I had to guess, Americans say they dislike the 2008 bailouts to mean they dislike how Wall Street banks caused a recession.
1 comments

I think most people think that TARP cost the government money (rather than the opposite) and that "only one banker went to jail" is still true (it hasn't been true since 2013). Which is honestly a pretty shocking indictment of the news media.
Nobody that mattered went to jail. A few lackeys might have been thrown to the wolves, though it seems only 1 spent significant time in jail. Meanwhile the board members, C-suite of Lehmann, Bear Stearns, WaMu, etc didn't spend a second in jail. What's really shocking is you burying the lede.
There are dozens of people still in jail, including C suite officers. Like I said the media just absolutely dropped the ball on this.
Can you name any of them? As far as I know none of the CEOs of the major banks spent any time in jail. They tried to get the CEO of Wamu but he successfully countersued (LOL) to get the Feds to drop the charges?

edit: it's unfortunate that you can't bring up any actual evidence to support your assertion

The TARP inspector general used to have a database of everybody they jailed but unfortunately it got DOGEd. It wasn't anybody famous but kind of the whole point of doing illegal things is that you try not to be high-profile when you do them.
It's also incredibly bizarre they'd go on such defense like this beyond zero evidence. Why on earth would someone make this shit up 18 years later?
Because people are just straight-up misinformed about this and get angry when I point this out rather than being happy to find out they were wrong. Here's an article from 2016 which was before the big wave of convictions happened in 2017-2019; it was 35 already at that point:

https://hartfordbusiness.com/article/fed-myth-busters-35-ban...

And, again, I'll remind you that until five minutes ago you thought the number was zero, and yet you're not happy to learn you're wrong. Puzzling.

First article is about TARP fraud. The other three are all 404.