Originally Posted by Row6
Oh I didn't know that since madoff went to jail he purged all the sins of whoever was left on WS.
Am I talking to a brick wall? The issue i have described is not simply selling an investment that lost money but fraudulently representing it to be something it wasn't to clients who placed their trust in the supposed expertise and honesty of the seller. I'm not going to keep painting the same picture for you over and over. This is not a difficult concept.
And you've shown no systematic evidence of fraud. I'm not denying that there are some bad apples in the financial industry. But there are bad doctors too, does that mean we shut that down?
And I'm not opposed to criminal charges wen fraud is actually committed. I think that is an important part of the system.
I just don't see where the fraud is. Because some analysts and managers bet against certain securitized products? That's their job.
Because banks packaged loans together and resold them? Again that is their job and serves a major purpose.