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Originally Posted by AtLast
Yes, investigations need to proceed! But, under the actual laws/regulations governing Wall Street and the banks during the mega-rip off most of what was done was not illegal. That is why it is so important to get the agencies created and the new regulations they are to enforce going. And the GOP in Congress has done everything including blocking confirmation of directors of consummer agencies that will make those kinds of actions illegal and subject to prosecution in order to protect Wall Street and banking further.
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Yes, many of the unethical and damaging acts of Wall Street were not illegal thanks to the orgy of de-regulation we have seen over the years. But much of what was done by Wall Street was outright fraud. Misrepresenting debt instruments to the public as sound and top-grade while scorning them privately as toxic junk is still very much illegal, criminal acts under existing statutes.