Quote:
Originally Posted by Jim Richards
If he has not acted wisely (needs taxpayer bailout to prevent bank collapse), perhaps the non-breaching party needs some jail time. Corporate malfeasance? I realize that wouldn't happen in a world where mega-bonuses are paid for ruining corporate performance, and corporate officers are generally sheltered from liability, but i can always dream.  |
Sure, corporate officers can go to jail for malfeasance, it happens.
But in this case, I guess they can use the "Greenspan" defense.
After all, the Genius Alan Greenspan himself said in 2006 - "There is no housing bubble."
If that were really true, none of this problem would have happened. So if the Smartest Economist in the World said it was true, how could a poor banker be faulted for simply agreeing?