[momoschili]

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.

[bandrami]

There are dozens of people still in jail, including C suite officers. Like I said the media just absolutely dropped the ball on this.

[momoschili]

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

[bandrami]

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.

[elliotec]

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?

[bandrami]

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.

[lurk2]

These look to all be incidences of people who were convicting of defrauding TARP, which I doubt most people would even remember. Steve Carell and Ryan Gosling told me the credit rating agencies rubber-stamped bad derivatives and that banks were giving out loans without income verification. Did any executive or director ever go to jail for that?

[bandrami]

Lots of loan officers and auditors were jailed, yes (more of the former than the latter, IIRC)

[saghm]

As others have stated, people are upset at the lack of prosecution for causing the crisis, not literally the lack of any CEO committing any financial crime related to the crisis at all. From your own link:

> Goldsmith Romero said it’s wrong to say that bankers now in prison only came from small banks. She said that that some banks had assets of as much as $10 billion and were very big players in the states where they were based. But she said it is true that top executives at the so-called “too big to fail” banks have avoided any criminal charges, even as their banks paid tens of billions of dollars in fines to settle charges of wrong doing leading up to the financial crisis.

> “I certainly understand the frustration of the people who want to see accountability for those who brought on the financial crisis,” she told CNNMoney. But she said even when the big banks admitted to wrong doing, investigators were not able to prove criminal action by the banks’ executives.

Five minutes ago I was unhappy there were no apples, and you're showing me a stack of oranges and then acting like it's irrational for me to not consider all fruit equivalent. I imagine you'd claim this is goalpost moving, but when you're apparently getting into conversations about this often enough to have formed your own narrative about so many people being irrational, it's worth considering that maybe it's more likely that you as an individual have been misunderstanding what everyone else has been saying rather than large swaths of people all suffering from a massive delusion that you alone have managed to see the real truth about.

[momoschili]

you put it better than I could have

[elliotec]

Are you serious? You said “dozens of CEOs” have been jailed for their role in the 2008 crisis. That is categorically false.

The article you posted is about a banker convicted in 2013 for fraud committed in 2011 that has nothing to do with contributing to the 2008 crisis. No CEOs were jailed for that.

Take your anger somewhere else because the truth is that it’s still zero, just like it was 5 minutes ago and 18 years ago. What would you possibly have to gain from lying about stuff like this?

[bandrami]

Nope, it's absolutely true. Sorry. It's (again) how I know nobody actually cares about this, because people would have noticed when the news reported on it in the 2010s.

[bandrami]

https://www.housingwire.com/articles/38536-failed-bank-ceo-g... https://www.justice.gov/usao-md/pr/former-president-and-ceo-...

https://oig.federalreserve.gov/releases/news-bekkedam-senten...

https://www.washingtonpost.com/news/business/wp/2015/09/02/b...

JFC you guys need to work on your web literacy

[lurk2]

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

[bandrami]

Sorry: https://www.washingtonpost.com/news/business/wp/2015/09/02/b...

https://www.justice.gov/usao-md/pr/former-president-and-ceo-...

https://oig.federalreserve.gov/releases/news-bekkedam-senten...

That's literally just from the first page of Google results, which you are also free to use if you want to learn more about this.

And btw "it's just TARP fraud" is an idiotic thing to say: the fraud was in misrepresenting the banks' positions prior to the crash during the TARP audit.

[deaux]

> And btw "it's just TARP fraud" is an idiotic thing to say: the fraud was in misrepresenting the banks' positions prior to the crash during the TARP audit.

People want CEOs to go to jail for knowingly playing a role in causing the crash. Misrepresenting banks' positions afterwards isn't it.

[lurk2]

> "it's just TARP fraud" is an idiotic thing to say

Some people might consider it idiotic to post 3 broken links to articles they clearly haven’t read; others would simply consider it obnoxious.

> the fraud was in misrepresenting the banks' positions prior to the crash during the TARP audit.

TARP fraud wasn’t what caused the crisis. The popular narrative is that the credit rating agencies failed to do due diligence because they were making a lot of money handing out high ratings on junk CDOs. So far as I know, no one involved in this went to jail. People were angry about the events that led up to the crisis not being punished; most probably didn’t even know about the fraud that went on with the program set up to bail out the banks after the fact.