[alokin]

Why does no one ask for personal liability of the CEO's of the money "industry"? Not our "leaders", nor the media, nor angry citizens?

If you are a health practitioner, a plumber or an engineer you must pay your insurance and you know if you make a major mistake you insurance will cover only a part of the liability (and the insurance payments will go up). So you try to do all things as correct as you can and you will still have some risks.

Other if you are a CEO of a bank. Your salary is outrageous and if take so many bad decisions that the whole bank fails you will still receive a lot of money and you are not liable with the money yet earned.

Are there not any lawyers out there looking at these contract to make these betrayers at least a bit liable for their mismanagement? While the taxpayers must pay they keep their wealth - what a weird world!

[Cid_Yama]

Not weird, real. The banks, or rather the owners of the banks, or more clearly, the people who control most everything, who have created this system to maintain themselves in power and keep the masses powerless, will continue to do so.

Money is not real. It is a means of allocating the available resources towards the maintenance of the power structure.

You could redistribute all the supposed money that exists, but there is still only a limited supply of resources.

It's all about who gets it and who doesn't.

[americandream]

Why does no one ask for personal liability of the CEO's of the money "industry"? Not our "leaders", nor the media, nor angry citizens?

If you are a health practitioner, a plumber or an engineer you must pay your insurance and you know if you make a major mistake you insurance will cover only a part of the liability (and the insurance payments will go up). So you try to do all things as correct as you can and you will still have some risks.

Other if you are a CEO of a bank. Your salary is outrageous and if take so many bad decisions that the whole bank fails you will still receive a lot of money and you are not liable with the money yet earned.

Are there not any lawyers out there looking at these contract to make these betrayers at least a bit liable for their mismanagement? While the taxpayers must pay they keep their wealth - what a weird world!

Given the scope of the stupendously foolish securitisation of what were vast swathes of poor real estate loans, and the extent to which these vehicles were intermingled and used to raise both equity and debt finance, I'ld say there's plenty of work for astute corporate lawyers. All it needs now is for a group of astute tax-payers to frame the appropriate class action and I suspect that many an ill gotten gain could be clawed back to mitigate the taxpayers inter-generational burden.

[smallpoxgirl]

Yeah. It's an interesting bit of law. In most states (maybe all) you can't incorporate a medical practice or other professional practices as a standard corporation. You have to form a professional service corporation or some such. The difference is that a professional service corporation doesn't exempt you from liability in your profession the same way a standard corporation would. Sort of ironic that they don't want me skirting liability with my $20k income, but they're happy to give it to the $20M a year Lehman CEO.

[americandream]

Yeah. It's an interesting bit of law. In most states (maybe all) you can't incorporate a medical practice or other professional practices as a standard corporation. You have to form a professional service corporation or some such. The difference is that a professional service corporation doesn't exempt you from liability in your profession the same way a standard corporation would. Sort of ironic that they don't want me skirting liability with my $20k income, but they're happy to give it to the $20M a year Lehman CEO.

Corporate limited liability does not generally limit the personal liability of board executives as a consequence of negligently perfoming their managerial and directorial functions, in certain instances of a fiduciary nature. In addition, recent amendments to OECD corporate law lowers the bar on directorial negligence extending it to creditors and others who suffer a like loss in particular circumstances. As I said, all it needs now is the will and the appropriately framed action. It's tricky but it can be done.

[alokin]

If a banker does not even want to see recent paychecks - what else is this as negligently? If borrowers were proposedly told to lie about their assets and income, they only need a witness. The evil is in the details, but it is strange that there are not such lawsuits yet.

[Blueberry]

A very respected and high level official -- The Comptroller General of the US was trying to wake people up -- and no one listened.

http://www.youtube.com/watch?v=0NM5Q5VDpnA

How are we, as average townspeople, to hold people liable if people don't understand the scope and real problem in the first place?

Think of all of us who tried in VAIN to convince our friends and families that peak oil is a real thing -- that it even happened right here in the US. Many of us were, and continue to be, flat-out laughed at.

The FACT of the matter is that the government, the mass media, TV and other factors to many to name contribute to a culture that believes it is informed, when in FACT it is NOT.

The BELIEF is the important thing. That is hard to get through --- especially when CNN isn't saying a damn thing about it.

We're no better informed than the Chinese!!

MAYBE we have better internet searches -- but who's to say Google hasn't adjusted ours, too?

So with the current COUP that happened in our govt -- what we get to is blame being placed all around without a clear picture being formed by anyone in the MSM or the powers that be.

Will anyone stand up and be a whistle blower? No. They'll be laughed at an marginalized very quickly by the powers that be.

But, for those of us who have researched, we see a very definite picture of advanced levels of corruption, opportunism (at best), manipulation, etc, etc, etc. But try explaining that to your partisan mother-in-law. Ain't happenin'.

Those who are liable have covered their tracks as best they could -- but history will show this for what it is. There may be a symbolic head rolled, but those who are truly getting away with murder? I think not. At least that's how it's looking so far.

[jasonraymondson]

Because deer are lazy creatures who are to obsessed with frolicking in the woods.