US watchdog calls for bank executives to be sacked

Elizabeth Warren, chief watchdog of America's $700bn (£472bn) bank bailout plan, will this week call for the removal of top executives


Warren also believes there are "dangers inherent" in the approach taken by treasury secretary Tim Geithner, who she says has offered "open-ended subsidies" to some of the world's biggest financial institutions without adequately weighing potential pitfalls.

Is a shake up of those execs on the way.
In my mind these guys made heaps out of the fall and now intended to make even more out of a climb back. I surly don’t trust any bank system that continues to allow customers to be ripped off over and over again.

US watchdog calls for bank executives to be sacked

good hopefully some of these people will be brought to justice

reply to post by majestictwo

I surly don’t trust any bank system that continues to allow customers to be ripped off over and over again.

Isn't that kind of the nature of the business? Banking is built on ripping off the customer. They just let it get to such an obnoxious level that it destroyed the global economy.

Yep you’re right. If there is a banking reform that removes these vultures we also need to see justice and that can only be by saying give the money back.

i wouldn't think all bank executives are guilty of having a hand in
the financial sectors crisis...

only the officials that allowed liar-loans, & no-down pmt mortgages
they should be held accountable, & 'claw-backs' put in place on the; Yachts, McMansions, assets, offshore accounts they made during the hey-day


specifically target the creators [wasn't Paulson a creator of 'Swaps' while a CEO @ GS?)
& issuers [5-8 major banks/financial firms]
of the estimated $500Trillion in derivatives which are the real cause of the
cascading insolvency of a great number of banks...
& the lending/credit markets those banks have 'put on hold'
for the masses ---but not for the select few