In every popping of speculative bubbles there is always someone ending up in jail. As the suffering public call for blood and the populist pollies look to be doing something. We have had shorts and speculators blamed for the meltdown. I think whatever your opinion on shorting is you would still hopefully recognise that they are a long way away from the cause of this problem.
Bernard Ebbers got 25 years for fraud, conspiracy and filing false documents at World.con. Others from the same company got into various trouble with the law. Here in Oz we had the Poseidon bubble which, from Wikipedia “The Rae Committee handed down its report on the Poseidon bubble, in which it documented numerous cases of improper trade practices. It recommended a number of changes”. As well as the Bond corp. and Allan Bond gaoling and Scase fiasco.
So who is going to get it here? Who and what do they deserve for bringing down the world’s financial system??
I vote for this goober,
I reckon he and his cronies were criminally negligent in creating the biggest debt orgy and asset bubble the world has seen in a long long time. It has now crippled the system and will hurt a lot of people not to mention the destruction of capital that has been acquired through honest hard work that is now being pi$$ed up against the wall.