Someone is going to jail--cont' "The 10 most wanted" Corporate Renegades.
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Posted By: Marta Fernandez on October 28, 2008 I blogged this before when the financial meltdown of Wall street was the everyday buzz. It is just a matter of time. Who will be indicted and who will actually serve time,depends on who is in office, who their friends are and who has the the most to lose by a judicial punishment. It will be long forgotten, like everything else as we deal with the barrage of daily assaults on our lives. I am curious as to who it will be, and what his ties are to the government. It's no surprise that CNN then came out with their "outlaw" list. 1. Franklin Raines, Former-Fannie Mae head, current Obama advisor. (Not going.)(CBS/AP) Franklin Raines, who was forced out as Fannie Mae's chief executive after five years, is due to receive a pension of $1.3 million a year for life, according to an agreement with the mortgage lending giant. 2. Alan Greenspan, Former Federal Reserve Chairman (he is not going) 3. James Cayne, CEO Bear, Stearns .Lots of greed here. 4. Chris Cox, Chairman of the SEC! The Chairman? 5. Phil Gramm- FormerTexas Senator supported 1999 banks to merge with investors & insurance backers. Clinton signed bill overturning depression era legislation in place to protect,the economy. Former aide to McCain. Now works with a Swiss firm. (The Glass-Steagall Act prohibited commercial and investment banks from merging.) 6. Joe Cassano. AIG 84 bill..bailout partied and wasted 400k..then another 38 billion of our tax money, they bragged about the exotic creative loans for home mortgages. Gambling by underwriting mortgages when they didn't have the collateral. 7. Richard Fuld, Former CEO of Lehman Brothers. Got caught unawares. 8.Angelo Mozilo, CEO of Countrywide Savings who put homeowners in properties they could not afford. Held $120 billion worth of subprime mortgages.Rep. (D) Calif. Maxine Waters, called him a benefactor of pure greed. Clinton urged that he help people become homeowners, not break the law. (My Choice) 9.Beazer Homes-what an ex-employee says: As an ex Beazer Homes Sales person, I have to ask: “Why” is Beazer being singled out when all major new home builders with forced in-house mortgage lending were also doing the same? I personally saw buyers willing to sell their mothers to get in on the new home buying frenzy, (because they thought they were going to make a HUGE profit, and were willing to do whatever it took to get in on the buying frenzy..) and now they are all crying that the Builder screwed them??? Did the buyers who made $50,000 to $100,000 or more instant profits per home give any back to the builder?? (And where are the interviews with those buyers?) I am of course saddened to hear stories of a few buyers that didn’t have a clue of what they were doing- but I am here to tell you that it was the buyers who were profit crazed and willing to sell their own mother to get in on the “deal” (and later lost..) that have to take a lot more of the responsibility 10. Ben S. Bernanke, Chairman of the Federal Reserve Bank, currently. Weak and ineffective. http://ac360.blogs.cnn.com/category/culpri... If you enjoyed this article, Join HBCU CONNECT today for similar content and opportunities via email! |
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Marta Fernandez
From Queens, NY CUNY -Queens College class of 1985 Member Since July 2008 |
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