2 Answers

• Right now it's tempting to just figure out a way to jail those guys and we're not lacking for reasons. But AIG did not invent credit default swaps and were not the only perpetrators. And when you say AIG - who exactly? The person who did the trade, the head of the department, the CEO? Shouldn't we be putting the regulators in jail? After all, free markets need to be regulated because it is a known fact (and benefit?) that they will explore every angle to make a buck. The regulators knew what was going on in general and didn't do anything. That was largely a result of the hands off Bush (generally Republican) doctrine of non-regulation. So jail Bush? We're all at fault. We saw housing pricing skyrocketing, cheap money, home equity loans, house flipping... It was clearly a bubble. Did we try and stop it? Should we jail the homeowner who got a no principal, 60-year, balloon payment, adjustable whatever mortgage? That was certainly fraud of a sort on the part of the lender and buyer. A.I.G. are P.I.G. to quote the NY Post. But that's about it I think. Charles Borwick answered in The Conversation about 1 year ago | Report 1 0 2 comments by Gregory G. Martz and Charles Borwick… It seems that the question of fraud may be answered by the justice department. I think the regulators would have done something if there where regulations. Calling them default swaps, instead of insurance? Is that how they got past some regulation? I personally don't feel the least bit at fault. If I offer lumber for sale, I have it on the ground, or at the very least own it. Unfortunately all of us are paying the price for this, and some more than others. Thanks for responding to my question, it seems to be a rare event. Thanks, Greg Martz Gregory G. Martz commented about 1 year ago | Report It's hard to disagree with you. I guess I'm just jaded by the fact that I've seen these and other endless transgressions being perpetrated in the full view of everyone with little comment until now. It was and is "just how the game is played" and to be surprised is almost naive. But I think my acceptance of it is fatigue based on the fact that corruption seems rampant wherever we look - perhaps government most of all. But in the end you are right, most people are honest and hard working and have been "played" by the sharks. Charles Borwick commented about 1 year ago | Report Enter your comment or ask a new question preview THIS IS A PREVIEW: Click "Post" to submit it or "Edit" to make changes. edit Please wait… This could take a minute if the tubes are clogged.

• I agree in theory. I just don't care to live in a country where the government can jail me for doing something that wasn't illegal. This is America, where for te sake of liberty we are willing to err on the side of letting people get away with stuff. Jonathan Tweet answered in The Conversation about 1 year ago | Report 0 0 Comment on this answer Enter your comment or ask a new question preview THIS IS A PREVIEW: Click "Post" to submit it or "Edit" to make changes. edit Please wait… This could take a minute if the tubes are clogged.