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

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  •  If they'd cared to look up the odds, they'd (1+ / 0-)
    Recommended by:
    Dallasdoc

    have known that fraud is and always has been the backbone of Wall Street.

    "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 06:39:40 AM PST

    [ Parent ]

    •  That's just a cop-out (1+ / 0-)
      Recommended by:
      antirove

      There was egregious fraud going on that few people could have been aware of at the time, especially people who trusted their financial advisors who may or may not have known what was going on and may or may not have been in on the fraud. Someone had to pawn off all those bad CMOs on unsuspecting dupes, as well as sell securities in banks who bought and sold them along with swaps. It's one thing to invest in a poorly run company, another thing entirely to invest in a fraudulently run one. These were not normal risks.

      "Liberty without virtue would be no blessing to us" - Benjamin Rush, 1777

      by kovie on Thu Feb 07, 2013 at 07:23:14 AM PST

      [ Parent ]

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