American Banks Should be Fumigated
FBI Deputy Director John Pistole told the senate panel earlier this week, that there are 530 active corporate fraud investigations with 38 of them being directly related to the current economic crisis with regards to financial institutions.
Corporate bank CEO's met before the senate panel to explain the fraud that had taken place within their companies while under their watch, in which they all received an overdue public thrashing from the federal authorities.
Should these CEO's receive more than just a public thrashing?
Presidents are placed in charge for a reason and allowing companies to run themselves isn't one of them. And these same men spent most of their days on expensive taxpayer funded retreats, using partying tactics as a way of leading enormous corporations; kind of like students partying every night and never doing their homework, but still expecting extraordinary results -- it ain't gonna happen.
Moreover, when these leaders figure out that their partying ways did nothing but allowed their companies to tank, then they come crying to the federal government to bail them out of the mess they caused.
And what does government do?
Give them billions of dollars to help repair their debt although it doesn't really repair it, as these same CEO's simply use our taxpayer dollars for personal profit.
And after all this they think they can just sit before the senate panel like children being scolded by their parents, and promise to do better next time?! Oh hell naw! I don't think so.
Corporate bank CEO's met before the senate panel to explain the fraud that had taken place within their companies while under their watch, in which they all received an overdue public thrashing from the federal authorities.
Should these CEO's receive more than just a public thrashing?
Presidents are placed in charge for a reason and allowing companies to run themselves isn't one of them. And these same men spent most of their days on expensive taxpayer funded retreats, using partying tactics as a way of leading enormous corporations; kind of like students partying every night and never doing their homework, but still expecting extraordinary results -- it ain't gonna happen.
Moreover, when these leaders figure out that their partying ways did nothing but allowed their companies to tank, then they come crying to the federal government to bail them out of the mess they caused.
And what does government do?
Give them billions of dollars to help repair their debt although it doesn't really repair it, as these same CEO's simply use our taxpayer dollars for personal profit.
And after all this they think they can just sit before the senate panel like children being scolded by their parents, and promise to do better next time?! Oh hell naw! I don't think so.
2009 LA
Below is a list of the bank CEO's, who helped to get us into this economic crisis.
1) John Stumpf (Wells Fargo Bank)
2) Kenneth D. Lewis (Bank Of America)
3) Lloyd C. Blankfein (Goldman Sachs Group, Inc.)
4) Jaime Dimon (JP Morgan Chase & Co.'s)
5) Robert P. Kelly (Bank Of New York Mellon)
6) Neil Barofsky (watch dog of government wall street rescue package)
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