Arresting the former CEOs of Countrywide, Indymac, Fannie Mae, Freddie Mac, Merrill Lynch, Lehman Brothers, WaMu, First Federal and so many more should be included in the Hank Paulson Goldman Sachs Bailout Bill of 2008.
Arrest them. Sue them. Fine them. Make them plea.
This will happen HP'ers, it's only a question of when. Just like Ken Lay and Bernie Ebbers before them, the likes of Angelo Mozilo and Michael Perry will eventually be brought to justice. And they will pay. And with a little luck, so will Chris Dodd too.
Sue Them, Jail Them, Make Them Pay for Meltdown
Sept. 19 (Bloomberg) -- As it stands, the rest of us will be paying much money over a long time for the greed and bad judgment of those who melted down the economy.
Hundreds of billions of taxpayer dollars are propping up firms that a relative few money lenders and Wall Street wizards ruined.
The real kick in the teeth is that the executives who inflicted all this financial pain, who forced unprecedented government takeovers, walk away with hundreds of millions of dollars. It's up to us -- innocent little us -- to dig into our pockets, into our futures and into our children's futures to fix their spectacular errors.
Stanley O'Neal took a $161 million package last year when he left Merrill Lynch & Co. (remember Merrill Lynch?), even without a severance package in the mix. Angelo Mozilo, founder and top executive at Countrywide Financial Corp., reaped almost $122 million during 2007 in stock options alone.
For a mere three months at the helm of American International Group Inc., Chief Executive Officer Robert Willumstad gets a $7 million package.
Toss the rascals in jail. Criminal prosecution allows the government to seize ill-gotten gains. Snip the straps off those golden parachutes and grab them. Take over bank accounts, investment accounts, mansions, private planes and yachts.
September 22, 2008
The taxpayers will be out trillions. The REIC CEO's pocketed hundreds of millions. Time to jail the bastards,and go after their ill-gotten gains
Posted by blogger at 9/22/2008