Obama should make an example of ONE Wall St. exec

[yurbud]

Pick one investment bank, hedge fund manager, or whatever CEO and publicly have Justice Dept. make the guys life a living hell. Prosecute him to the fullest extent of the law, have forensic accountants find his hidden assets, hook him up to a polygraph to find what accountants couldn't, and after he is convicted, throw him in a regular prison and tell the inmates he is a child molester--or just tell the truth: this is the guy that threw your moms out of her house.

Ideally, it should be THE most powerful CEO of the biggest institution.

Personally, I think Hank Paulson would be a good choice since people recognize his name and face, but in his spirit of bipartisanship, Obama probably wouldn't pick him.
More than a bailout or reregulation, this would restore public confidence because it would tell the public that banks are the governments (and by extension our) bitch, and not vice versa, that they can not rob us at will, avoid punishment, then make US pay to clean up after their crimes.

The only thing better than Obama picking the person to prosecute would be to narrow it down to a pool of a half dozen, and give them a month to sway the public as to which of their colleagues in the pool should be the scapegoat, and see how quickly and thoroughly they do our work for us and expose each others crimes to save their own necks.

[Locrian]

1. I'm down with that.

[ipfilter]

2. I'll nominate Fuld. nt.

[acmavm]

6. I'm with you. A punch in the nose just doesn't seem like it suffices.

<snip

Lehman Brothers CEO "Sold" $14 Million House To His Wife For $100
By Meg Marco, 10:56 AM on Wed Jan 28 2009, 16,218 views

Dick Fuld is in the news again — this time for selling a $14 million Florida house to his wife for $100. No one is quite sure why he felt he needed to do this, but some are speculating that he may be trying to hide assets from Lehman Brothers shareholders in case they are getting ready to sue to him.

http://consumerist.com/5140996/lehman-brothers-ceo-sold-14-million-house-to-his-wife-for-100


edit: to reference my 'punch in the nose' remark:

Former Lehman CEO Punched in the Face
By SplendidMarbles ⋅ October 7, 2008 ⋅ Post a comment
Does a bloated, arrogant CEO of a failed investment bank deserve a punch in the nose? Apparently a growing number of people fed up with the Wall Street crisis think the answer to this question is YES!

I came across a story this morning in Alaska Pride (Hawaiian Honor’s sever was down) about former Lehman Brother CEO Richard (Dick) Fuld’s run-in with the fist of a former employee. It seems that punching these former titans is not only popular, but may be the only form of justice they will experience.

http://splendidmarbles.com/2008/10/07/commentary/former-lehman-ceo-punched-in-the-face/

[ipfilter]

7. He's so sleazy even * and Skeletor let LEH fail.

You know your pretty low when you are beneath that level of slime.

[uponit7771]

3. ALL of the banks LIED to the rating agencies about HOW they were bundling the MBS's !!!!!!!!!!!

[Soylent Brice]

4. i like it. the only downfall i see

is that while this one guy is being made an example of, the rest are going to scurry like cockroaches, and begin the CYA process for themselves.

an example would be nice, but the real example should be set by going after all of them. hiring the large amount of people to go after them would even create some jobs along the way, i would think.

K&R.

[yurbud]

8. then I made my point

By proposing one, it reminds people that none of the assholes are being punished yet.

[Soylent Brice]

14. an excellent reminder, then! n/t

[rucky]

5. How about the now-former FTC chair?

[KittyWampus]

9. No, he should make an example of TWO executives. Run one through the wringer as you say

but find one willing to cooperate and testify as to what was known and give that executive a chance to make up for misdeeds.

[yurbud]

10. giving up the money would be worse than prison to those guys.

[anonymous171]

11. Good idea. Make an example out of him. nt

[yurbud]

12. I forgot to add photo of my favorite candidate:

more tar & feathers:
http://fascart.blogspot.com/2008/09/photoshop-video-tar-feather-wall-st-for.html

golden shower instead of golden parachute:
http://fascart.blogspot.com/2008/09/video-golden-shower-for-wall-st-bailout.html

[ecstatic]

13. Sure. Make it a McCain voting repuglican though

Not that I give shady democratic execs a pass... I just prefer for McCain supporters to be tried first.

[PBS Poll-435]

15. I pick Sheila Bair

Oh wait. She still works for him.

:grr: