Post: #1

Looks like the Iranians have a slightly different way of settling large-scale financial crimes than the Anglo-Saxon "golden parachute" approach.

Quote:Iran sentences 4 to death in $2.6B fraud case
By NASSER KARIMI

TEHRAN, Iran (AP) — An Iranian court has sentenced four people to death and given two more life sentences on charges linked to a $2.6 billion bank fraud described as the biggest financial scam in the country's history, an official said Monday.

The trial, which began in February, involved some of the country's largest financial institutions and raised uncomfortable questions about corruption at senior levels in Iran's tightly controlled economy.

But few specific details have been released, possibly to avoid exposing too much internal scandal while Iran's leaders seek to assure the country it can ride out tightening sanctions over Tehran's nuclear program.

...

Post: #2

death penalty = wrong

Post: #3

How is the death penalty any different to Madoff's 150+ years?

Post: #4

(07-31-2012 05:48 AM)k37 Wrote:  How is the death penalty any different to Madoff's 150+ years?

lolwut

Post: #5

(07-31-2012 05:48 AM)k37 Wrote:  How is the death penalty any different to Madoff's 150+ years?

Maddoff is staying in a swanky jail which is better then most peoples apartments.

Also Maddoff was used as a scape goat since he hustled many of his ... rich.. friends. If he would of of done this to strictly normal folk he would of got a slap on the wrist. But he was scamming his fellow 1%'ers and thus got the book thrown at him.


Major Bank fraud is the same as killing somebody. Fucking over peoples financial lives leaves them in a state of destitution. China does the same thing and even though I am on the fence about the death penalty I am cool with it when it comes to major money fraud of anything dealing with children such as rape.* If you rape a child you deserve to be thrown to lions as meat.

With major money fraud...I am all for it...since it would make these old rich guys think twice before trying to fleece regular joe's.

*With murder strangely I am on the fence. Because I feel unless somebody is nutcase the person on the other end more times than not lights the fuse that sets somebody off.

Post: #6

(07-31-2012 11:34 AM)kosko Wrote:  

(07-31-2012 05:48 AM)k37 Wrote:  How is the death penalty any different to Madoff's 150+ years?

Maddoff is staying in a swanky jail which is better then most peoples apartments.

Also Maddoff was used as a scape goat since he hustled many of his ... rich.. friends. If he would of of done this to strictly normal folk he would of got a slap on the wrist. But he was scamming his fellow 1%'ers and thus got the book thrown at him.


Major Bank fraud is the same as killing somebody. Fucking over peoples financial lives leaves them in a state of destitution. China does the same thing and even though I am on the fence about the death penalty I am cool with it when it comes to major money fraud of anything dealing with children such as rape.* If you rape a child you deserve to be thrown to lions as meat.

With major money fraud...I am all for it...since it would make these old rich guys think twice before trying to fleece regular joe's.

*With murder strangely I am on the fence. Because I feel unless somebody is nutcase the person on the other end more times than not lights the fuse that sets somebody off.

Completely agreed except for the murder disclaimer. Murderers deserve to fry.


To add to the discussion, in Iran it's death by hanging. A worse fate by far than what Madoff got.

Post: #7

The fact that virtually no-one got punished in this recent financial crisis is a travesty. To put in in perspective, back in the late 80's and early 90's (when the first George Bush was president) we had another serious financial meltdown. This was the Savings and Loan Crisis. Regulations dealing with Savings and Loan companies had been loosened, and as a result, the bankers involved started committing massive fraud.

747 Savings & Loans went bankrupt. The government had to step in and auction off HUGE amounts of real estate that was foreclosed on by these S&Ls as a result of bad mortgage lending practices (sound familiar). This was a HUGE deal back then, but compared to the financial crisis of 2008, it was nothing.

However, a big difference was in how the government handled it. The US government wound up sending over 1,100 people TO PRISON because of this, including the heads of some of these financial institutions. This time, when the whole world was brought to its knees, how many of the people responsible in the US went to prison?

Post: #8

I don't think anyone went to prison. In fact, I think they got bonuses, and police protection when people went to their homes. I think it would have been awesome if there was a good old fashioned lynch mob for these banksters.

Post: #9

(07-31-2012 04:39 PM)joehoya Wrote:  The fact that virtually no-one got punished in this recent financial crisis is a travesty. To put in in perspective, back in the late 80's and early 90's (when the first George Bush was president) we had another serious financial meltdown. This was the Savings and Loan Crisis. Regulations dealing with Savings and Loan companies had been loosened, and as a result, the bankers involved started committing massive fraud.

747 Savings & Loans went bankrupt. The government had to step in and auction off HUGE amounts of real estate that was foreclosed on by these S&Ls as a result of bad mortgage lending practices (sound familiar). This was a HUGE deal back then, but compared to the financial crisis of 2008, it was nothing.

However, a big difference was in how the government handled it. The US government wound up sending over 1,100 people TO PRISON because of this, including the heads of some of these financial institutions. This time, when the whole world was brought to its knees, how many of the people responsible in the US went to prison?

the difference is bankers are now more deeply connected to politicians than ever before, and things won't be getting better now that super PAC's exist.