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View Diary: Tough Choice: If DOJ Prosecutes Wall Street, Banks Could Collapse (196 comments)

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  •  Though the heavens fall, let justice be done. (4+ / 0-)

    I wouldn't for a moment suggest that those who have pensions and 401Ks that would be adversely effected by a banking collapse catalized by a revelation of the - obvious, btw - fraud that was comitted by top level bankers is anything but a calamity.  

    But the idea that banking interests should be given a pass because the business impacts are too great is decidedly un-American.  Or at least it is in the America that I was raised to believe in.  The alternative is nothing less than the theft of whatever is left of our nation.  Not from me (I've more or less come to terms with the fact that my retirment years are a pipe dream).  But my daughter deserves a shot.  Or at least the cold comfort of the knowledge that the fuckers went to jail for a very long time.  

    It's not collapse now or collapse later.  It's collapse but maybe we can avoid the torches and pitchforks when the next collapse happens and yet Jamie Dimon is still somehow richer than Croesus.  

    "If you can find money to kill people, you can find money to help people." -Tony Benn (-6.38,-6.36)

    by The Rational Hatter on Wed Feb 06, 2013 at 05:42:40 PM PST

    •  do you have a job (2+ / 0-)
      Recommended by:
      shrike, cotterperson

      or know someone who does?  then you know someone who would be adversely affected by a banking collapse.  The Great Recession was brought on by a bank collapse and we were only saved from a depression because the banks were shored-up by the Federal Gov't.

      If you know for a fact the banks are going to collapse, then you yourself can be richer than Croesus.  There's plenty of money to be made shorting bank stocks and you can do that on e-Trade.

      •  Hell, don't short them - buy puts where (1+ / 0-)
        Recommended by:
        sweatyb

        you can leverage 50-1.

        $10,000 in puts gets you $500,000 if the bank of your choice is wiped out.

        Of course they have sold assets and bolstered their capital many times over.  But why let financial stuff stand between a fool and his money?

        "The way to see by faith is to shut the eye of reason." - Thomas Paine

        by shrike on Wed Feb 06, 2013 at 06:03:24 PM PST

        [ Parent ]

      •  You seem to think that a collapse is somehow (4+ / 0-)
        Recommended by:
        Simplify, Ray Pensador, JesseCW, ratzo

        avoidable.  It isn't.  The banks are loaded up with a bunch of really horrible investments and they never actually faced up to the true extent of the financial rot that is their books.  

        I lost my job in the Great Recession.  It wiped out my savings.  I now work a job that pays 25% less with a benefits package that is a pale shadow of what I had in 2008.  So spare me the sanctimonious bullshit about me not caring about people who would adversely affected by a banking collapse. I am well aware of what happens to people when bankers trip on their own dicks.

        I'm just still pissed off that a government that ostensibly represents my interests refused to prosecute HSBC even though they laundered money for drug cartels and Iran.  If I can't have my old life back (along with millions of other Americans that you like to pretend that you care about) I'd at least like to see the financial sector pay for the damnage they have cause me and so many other good men and women that I know.

        And the fact that it is even possible to make money on a banking collapse ought to inform us about how truely depraved Wall St is.  That you would suggest it as a course of action says alot about you as well.

        "If you can find money to kill people, you can find money to help people." -Tony Benn (-6.38,-6.36)

        by The Rational Hatter on Wed Feb 06, 2013 at 10:03:58 PM PST

        [ Parent ]

      •  Are you unemployed, or do you know someone (1+ / 0-)
        Recommended by:
        cynndara

        who is?

        Then you know someone who has been adversely affected by the re-animation of zombie banks.

        The Great Recession was prolonged by bailing out fraudsters and criminals who are siphoning away the productivity of the working class, denying us the fruits of our labor and denying us the ability to directly re-invest those funds in our own communities.

        "I have often seen people uncivil by too much civility, and tiresome in their courtesy." Michel de Montaigne

        by JesseCW on Thu Feb 07, 2013 at 06:36:09 AM PST

        [ Parent ]

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