FDIC ready to sue 50 bank executives

[Waiting For Everyman]

Looks like the party's over. Disgorgement anyone? Go Sheila! May the list grow longer.


...

After sending heads-up letters to potential targets of litigation, the FDIC has bared its claws. "We could walk into court tomorrow and file the lawsuits," FDIC general counsel Richard Osterman told Bloomberg. During the savings-and-loan crisis of the 1980s, the FDIC sued executives from more than 24 percent of the banks that failed.

...

Court victories for the agency would force bank executives to pay some portion of the compensation they received from their banks. Government regulators, endowed with new powers by the July financial reform legislation, are currently drafting rules for curbing executive pay, which regulators say in the past has inspired excessive risk-taking.


http://www.huffingtonpost.com/2010/10/08/post_545_n_756059.html

[Rosa Luxemburg]

1. At last!

[Angry Dragon]

2. I hear San Quentin has room.......

I want to see every last one of the money grubbing bankers rot in jail

[calimary]

3. So do I.

Justice! NOW!!!!

[Waiting For Everyman]

4. LOL

I thought this was a story a ton of people would be happy about. (Justice? Just a little bit of justice beginning? at long last?)

I know it perked up my day! :)

[NuttyFluffers]

5. innnnnnnnnteresting!

k&r

[xchrom]

6. Good - get it done! Throw the book at them.

And there should be jail time involved.

[Catshrink]

7. It's about time!

Go for it, FDIC.

[Ruby the Liberal]

8. Excellent news! K&R