Anderson Cooper
Over the last couple of weeks we’ve heard politicians tell us that now is not the time to point fingers and blame people for the financial crisis. I remember them saying that in the days after Hurricane Katrina as well.
The truth is that’s what politicians always say. They mean that now is the time to fix the problem, but once the world’s attention moves on, the time for hold people accountable never seems to arrive. Politicians point fingers at members of the opposite party, but no one ever seems to take real responsibility.
So who is to blame for this financial fiasco?
That’s the question we’ve begun investigating. We’ve put together a list of the Ten Most Wanted: Culprits of the Collapse. This week and next week, every night, we will be adding a name to the list and telling you what they have done, and how much it’s costing you.
It’s a rogues gallery of Wall Street executives, politicians, and government officials who did not do their jobs. It’s time you know their names, their faces, it’s time they be asked to account for their actions.
| TC |
October 9th, 2008 11:51 am ET It is simply amazing.... watching Lehman Brothers CEO, AIG CEO, Chairman.... pointing fingers at OTHERS for their companies failure.... When the time was good and the companies appeared to be doing well, the same guys are TAKING ALL THE CREDIT, and asking for LARGE SUM of BONUSes..... but when the time was tough and things did not do well, then it was always SOMEONE ELSES FAULT.... How did they get those jobs ? Just being GOOD OLD BOYS network... They seem imcompetent.... the only quality seem to be the ability to shamelessly TAKE CREDIT and AVOID BLAMES... |
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| KAB |
October 9th, 2008 11:56 am ET My memory may be failing me, but didn't H. Ross Perot (sp?) tell us this was going to happen? Didn't he say if we didn't address the problem vigorously, we would be facing a depression? I can't remember dates, but I do remember his very dry speech with graphs and charts. Maybe we should have listened to him WAY BACK WHEN. People don't want to hear it, but we are all to blame. Many of us live beyond our means. There seems to be a sense of entitlement in this country. "Keeping up with the Joneses" has really put us in a bind. The mortgage crisis, the credit crisis, the stock market melt down.... don't get me wrong, the higher ups let it happen, but many, many contributed to it. |
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| Cecelia Burroughs |
October 9th, 2008 11:56 am ET What can we do to change how much CEO's make? No One person is worth what they made off the sweat in tears of the American workers. If we try to watch the CEO pay from the financial reports it will not show all the bonus and perks they get ,or the Golden parachutes. Someone please tell us what the average American tax payer and investor can do to prevent this for happening again, short of not investing. Sincerely, |
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| Pamela Brodie |
October 9th, 2008 11:56 am ET Account for their actions? Seize their assets, and arrest them as the criminals they truly are. Why should they be comfortable in their mansions, while a single mother's children go to bed without dinner? |
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| T |
October 9th, 2008 11:58 am ET I can not believe the greed we have in our country. The CEO's of these companies should only be able to take home 1% of their golden parachutes, bonuses, and the rest should be reinvested in their struggling companies. It is time that the top executives support their workers, who work for them. For these people to take home all the money and make the rest of us struggle is unbelievable. We need to support each other, and not just think about the money. |
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| lou |
October 9th, 2008 11:58 am ET Where can i find their names? You say it is time I know their names, their faces......actions. Where do I find that information? thanks. |
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| vince nizzardi |
October 9th, 2008 12:00 pm ET Anderson, this is exactly what needs to be done, and as One American citizen, want to thank you , for doing something meaningfull, and relavent for the American People. Yes, we do want to know every detail, of all involved, their names, and faces, the total extent of damage they have caused every citizen of these United States, and most of all, when they will be giving back all, and I mean all of the money, they receved[ stole] , the entire time they were in charge, in any capicity, of these failed companies. When a congressman asked Mr. Fuld if he had considered giving back any of the money he took, Mr. Fuld answered, "NO". It's clear they will not voluntarily return the money they have cheated shareholders / investors of, so we need to sue them , for every penny they have, till they have nothing. |
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| Sarah in FL |
October 9th, 2008 12:01 pm ET Now this is why I watch 360! Kudos to you and the show's producers & correspondents for bringing these criminals out into the light. The American people deserve to know how this money was REALLY spent. |
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| Robert Haehnel |
October 9th, 2008 12:04 pm ET Bravo! Grab them by the leg and don't let go until justice takes over at the throat. |
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| Tyler |
October 9th, 2008 12:04 pm ET CNN (Anderson Cooper), You must be relentless in pursuing who is responsible. These thieves must be held accountable. Criminal charges must be brought and people need to go to jail. I want to know all congress members both in the House and Senate who have political ties to these Wall St. thieves. American's need to know so we can vote them out of office and criminal charges can be filed against them. DON'T BE AFRAID CNN!!!.....GO AFTER THE TRUTH!!! |
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| pamela moreno |
October 9th, 2008 12:05 pm ET Finally, someone is doing the right thing. We should all be held accountable for our actions. The American People need to know who is costing them their hard earned money. |
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| Dave in Illinois |
October 9th, 2008 12:05 pm ET I hope your planning to include Democrats like Barney Franks who defended Fannie Mae and Freddie Mac when, in 2003, the Bush Administration proposed tigher regulation of these two companies. Mr Franks, the ranking Democrat on the Financial Services Committee, stated that ""These two entities - Fannie Mae and Freddie Mac - are not facing any kind of financial crisis. The more people exaggerate these problems, the more pressure there is on these companies, the less we will see in terms of affordable housing." The phrase "affordable housing" translates into "subprime mortgages to low income borrowers who otherwise wouldn't qualify for a loan." |
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| Brooke Nicotra |
October 9th, 2008 12:05 pm ET I know how complicated the financial market is, but americans need to know about the huge problem of Credit Default Swaps, which is still going on and getting worse. As long as these occur unregulated the situation will just get worse. Try to make people aware that it is not as simple as just putting money in the banks for people to borrow. |
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| Dave |
October 9th, 2008 12:06 pm ET I am very glad to see that someone is bringing to light the people responsible for this crime, yes a crime, these people are both federal and international criminals, they have brought the world economy to its knees. These people need to be held accountable for there actions, there assets should be frozen, and they should be jailed without bail, and prosecuted to the highest extent of federal and international law. As you can tell I am not a happy person right now, since my life long investements have been devistated and I may never have a reitrement like I was planning for. |
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| Presley |
October 9th, 2008 12:07 pm ET Good. Money Money Money, it leaves trails. |
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| Vinny Lavecc |
October 9th, 2008 12:09 pm ET Read Stanley Kurtz "Seeds of Disaster" |
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| Richard T |
October 9th, 2008 12:10 pm ET Anderson Cooper - Jail them, exploit them, make them pay for their mistakes some how! It is not fair for the hard working average citizen in America who has to suffer, or is afraid of losing their job because of these culprits who abused their power. Wall Street executives, politicians, and government officials they should not get away with this! These government officials, politicians etc... should not have allowed these Wall Street Exec's do whatever they wanted. They should have been watched and their power should have been limited. The government should have never let this get as serious as it is now. They should have put limitations on these companies so such a catostrophe could have been prevented. Worst of all, they get away rich and scott free. Good luck and thank you for the TEN MOST WANTED LIST. |
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| Matt from Montana |
October 9th, 2008 12:14 pm ET From what I have read, there are many entities responsible for this mess that we are in now. It all stems from the Clinton era on and the basic root cause is the cheap housing issue. Responsibility goes in many directions from the people who willingly jumped into a house mortgage that was really way beyond their means to the shady loaning institutions and their corrupt brass who short term profited from these scams. It has all ballooned into other sectors and now it has a log jam effect on our banking and credit systems. I very much believe that tax payers should never bail out business that is corrupt and irresponsible. Let them fail as they should, hold them accountable for their discretions. Do not give them a hand out so they can go back to dirty business as usual and expect another hand out when they falter again!!! This action is just like handing a homeless drunk on the street a thousand dollars and telling him to not spend a dime on alchohol!! America needs to stand up in unison and get our government to represent the good of the people and not the good of big business!! |
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| Lilibeth |
October 9th, 2008 12:15 pm ET I look forward to this, Anderson. We always hear that Wall Street and politicians are to blame, but we don’t really know who they are or what that means. Hopefully there will be consequences to these people so that this financial crisis doesn’t ever happen again. Lilibeth |
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| Will |
October 9th, 2008 12:16 pm ET It's great that you guys are looking into this because these traitors (exactly what they are) need to be held accountable. Greed should not be rewarded and their greed has surpassed any. |
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| Gary Johnson |
October 9th, 2008 12:16 pm ET We should consider enacting a law dealing with Finacial Treason. If your illeagal actions affect the incomes or the lives of more than 10,000 people then you should be subject to Economic Treason Charges which could garner a life sentance and confiscation of all of your assests recieved during an illegal action of fraud, theft, identity theft, food or drug contamination, war profiteering, illegal drug sales. |
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| Mike P |
October 9th, 2008 12:17 pm ET Looking forward to seeing the stooges at the top!. Love the guys at AIG who went to the spa afte the govt. gave them Billions!! |
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| Harris Williams |
October 9th, 2008 12:17 pm ET I don't understand why the people who are responsible for this are not being made to pay back the money? We are a society that looks at people according to how much money they have, and how much clout they carry in there back pocket. The CEO's who robbed us, and the politiicans who failed to do their job because of money promised per campaign contribuitons, and other monetary gifts need to pay up! |
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| Sarah Atlanta, GA |
October 9th, 2008 12:17 pm ET Anderson, I am glad 360 is doing this 10 most wanted list. I think it is important to know who is responsible for this wall street crisis. |
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| Jay Sharpe |
October 9th, 2008 12:18 pm ET The American people are not happy. It saddens me what a corrupt country we've become. We're tired of seeing politicians make slim attempts to question CEOs, and in the end do nothing but scold them (Enron being the exception). Mr. Fuld, you and your ilk are an obscenity. Many people I've talked to around the watercooler feel you and your cronies are simply crimelords with zero morals masking as CEOs. You are arrogant elitists. You are the new Supervillan. As Mr. Fuld demonstrated in his hearing before the Senators, he has no remorse about how much he's made or who he has hurt in the process. If anything, he is smirking inside knowing full well his financial contributions to the presidential elections, purchasing his get out of jail free card, while sleeping on a bed of nearly HALF a BILLION dollars. He is fully aware that the chances of anything legal happening to him are slim thanks to the contributions he's funneled the way of both presidential candidates. Mr. Fuld, I salute your own employee who knocked you out cold in your own gym. Well done sir. Well done. You spoke for all of us. |
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| Mike D |
October 9th, 2008 12:19 pm ET The people are mad as all heck. Sometimes it is better to burn down the house and rebuild. Now just waiting for a spark to light the fire . . . Restore the Republic Now! |
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| Bob Thomason |
October 9th, 2008 12:19 pm ET Executive compensation as been 'out of control' for several years. Backing the 'real culprits' are their advisors – the Compensation Consultrants and Committees. However, most Boards refuse to admit that they due the will of the Chairman and CEO. The 'culprits' pass the blame; however, they are the driving the process. Most (not all) Boards contnue to be 'rubber stamps' for out of control Chairman and CEO's. It still comes back to the identified 'real culprits' are the culprits! |
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| Marcia, Warren MI |
October 9th, 2008 12:21 pm ET At least now we can put faces to these people, but really what good will it do. Like with AIG last night there is always some excuse for why they did something, to them the bottom line is who me? Obama said it best make them return the money and fire the guilty. Why should the average American suffer when people like this live the high life without a care in the world except what color will their next Jag be. |
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| Lori |
October 9th, 2008 12:22 pm ET Anderson – I think it's great that you are calling these people out by name and letting America know who they are!!!!!! They should be exposed for the low life crooks they really are. When you are done with them, you should do the same thing with the members of congress that have also reaped the benefits. Can anyone say Chris Dodd and Barney Frank!!!!!!!!!!!! |
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| Yvette |
October 9th, 2008 12:22 pm ET IT'S ABOUT TIME!!!!! We, the American people, need to know who these CRIMINALS are!! I wish all the networks would do the same thing. McCain says, he's going to start naming names. I applaude this idea. Please give these types of programs lots of attention. These people need to be held accountable. Oh! one more thing, LOU DOBBS should BE PRESIDENT. He's has great ideas and is not afraid to express them. Your the MAN – DOBBS!!! |
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| T.W. Larner |
October 9th, 2008 12:25 pm ET If I were King of the World there is one thing that I would mandate, and that is anyone to hold political office could not have a LAW DEGREE. They are always looking for loop holes and how to advance them selves and to hell with the rest of those non lawyers. |
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| Jim |
October 9th, 2008 12:29 pm ET Anderson- The culprits of the collapse are the American people & their greed. those who have chosen to live on credit & not live within their means & who are now suffering the consequences. |
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| kb |
October 9th, 2008 12:29 pm ET Anderson, I feel, as many of my family and friends, that all these CEO's and their counterparts should be arrested and put on trial. They should also have to give back their pay, bonuses and other monetary compensation to the the American people. It is imperative that the Government takes strong action against these people before the American people will believe our Government. ever again. You can help get this message out because you are our voice in the media. Please help us and yourself. Thank you |
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| David Chamberlain |
October 9th, 2008 12:29 pm ET So let me get this straight, not only only did I loose $16000 from my 100% protected Lehman Brothers IRA account, but I get to pay it back in my taxes to the people who robbed me in the first place; outrageous . Man, I've been working hard sense I was 16, I'm almost 60, I'm not broke but I don't have much. These people suck. I'd be in jail if I robbed them! How about posting there addresses. David |
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| barbara |
October 9th, 2008 12:29 pm ET I want to thank you for bringing up this question. I want to know for sure who is responsible for the mess we're in, but most of all I want to know if they will be held responsible for making it happen. You hear of mortgage bankers appraisers, title companies etc being investigated and arrested for there part in subprime lending, Will the new president do his part to prosecute those even in his own party who are now lying about what happened and still putting the blame on someone else?I have always been brought up that if you do something wrong in life or in work just say you did it and why and move on. Take responsibility for your actions. No one wants to do that today. No matter what happens it's always the other persons fault. |
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| Fran |
October 9th, 2008 12:30 pm ET Don't you think that Barney Frank and Chris Dodd should be asked to resign their positions on the banking committee. Obviously they don't see any accountability in themselves. |
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| Anita Roth |
October 9th, 2008 12:30 pm ET The Collapse, and all this bailing out is a CRIME! Why are we bailing out people that have committed crimes here? I understand that if we don't bail out these companies we may fall into a depression worse than any we have had in the past......But they are committing crimes,and we the people should not be bailing them out,,,they should be brought up on charges,and pay back any money and material things they have obtained. If I make the wrong decision with money, etc. then that is on me and me only...I am an adult, and should be treated as one, and take responsibility for my own actions, and so should they. And our current president should take responsibility for his constant F***-ups also. I don't go to Spa's, I don't get a free helicopter. We the people don't get anything free, and neither should they. I don't see how any new President, and Vice President we get into office will solve all the problems we have now. Thank-You. |
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| Ken |
October 9th, 2008 12:31 pm ET A much needed – Most Wanted ! I am all for it and thank Anderson for being brave, I mean it. |
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| Kitty Gregory |
October 9th, 2008 12:37 pm ET Not only should these guys be fired, they should die in jail. |
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| Paul Cyr |
October 9th, 2008 12:41 pm ET These guys, maybe even gals, are the true domestic terrorists. They have threatened the security of our country, spread fear throughout the populace, cost billions, changed the behavior of the citizens and done damage to our infrastructure that a suicide bomber could only dream of doing. Let's see the power of the wide ranging Patriot Act start to chew at these folks butts. They will soon be screaming how their right to earn millions have been infringed upon. A good long stay at Gitmo for these terrorists would assuage my anger just a little bit. |
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| Central FL Ant |
October 9th, 2008 12:41 pm ET So if these people can be identified as culprits are they going to be charge? or at least be fined? Why are "we" being punished for their greed and stupidity? I want to know what is going to be done and if consequences are going to given! |
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| Ash |
October 9th, 2008 12:42 pm ET Excellent reporting and you must expose these crooks and make them accountable for their actions. |
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| Jim |
October 9th, 2008 12:42 pm ET We are all to blame for placing these individuals on pedestals....the average "joe" could only assume they were as smart as we made them out to be. Market manipulation, greed and excess should longer be a qualifications for corp leadership. Put a fire chief at the top, or a teacher, maybe your clergy...someone with integrity, someone who truly has others interest in mind, along with their own. Fire the boards, fire the chiefs and reward to troops. |
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| Qublai Khan |
October 9th, 2008 12:43 pm ET I hope you don't forget the big fishes: Bush, Bernanke, Greenspan, Paulson and the likes, who kept telling blatant lies about the health of the economy until it busted in their faces. The independent media had been predicting this mess with amazing accuracy for more than a year. I am done with listening to the quack "analysts" sitting on the Wall street. |
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| Ronnie |
October 9th, 2008 12:43 pm ET I am amazed that we the american people are just sitting ideal and not really doing anything about this situation. I mean what can we really do about? It seems that "living high on the hog america" what I call that bit of american society who are not affected by this reality like the majority of us are, are so arrogant that they have the gaul to ask for this bailout with out any consequences what so ever. Whats even more dispicable is that our government is in the same catagory or cesspool like these individuals, because if I'm not mistaken the majority of them are "living high on the hog" also. No wonder why so many other countries can't stand America, they see the greed running this country in our politics and on main street that they don't want that kind of BS happening in their countries either. huggggggg! I'm so mad I can't evn go on... |
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| Kay |
October 9th, 2008 12:45 pm ET RE: Ten most wanted Good idea Anderson. I have one suggestion. At the end of each presentation there needs to be a "call to action". Peole need to be encouraged to contact their representative and senators via emails, etc. PLEASE list the website for them to contact their legislator to voice their opinion on the actions of AIG. PLEASE continue to investigate the rumor that AIG is planning a 2nd retreat. I am appalled at the arrogance of AIG's letter to secretary Paulson's DEFENDING |
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| Maureen O'Connor, Philadelphia |
October 9th, 2008 12:46 pm ET H'mmm... how about the creeps at AIG, who just sent 150 of their top-level execs to a holiday retreat for $400K? And they've even got ANOTHER trip in the works? And didn't we just give them $35 billion? So, they took about a billion of that for fancy dinners, a $10K bar bill, and massages... gee, and they REALLY needed a bailout... |
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| David Noll |
October 9th, 2008 12:47 pm ET It's about time somebody started doing this. Not only are Wall St. execs & traders at fault, but mortgage company execs and politicians from BOTH sides. I'm angry and it's time for some real change in this country. Neither Obama or McCain are worthy of being president of this once great country. |
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| Brian Dees |
October 9th, 2008 12:50 pm ET I hope some members of congrress are on this list, not just corporate big wigs. Their complicity in this disaster cannot be ignored. I hope Barney Frank is asked to defend his resistance to tightening controls on the GSA's a few years ago. |
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| John |
October 9th, 2008 12:53 pm ET It's high time someone exposed people like this. Maybe others will thing twice before lining their pockets at the expense of others. |
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| Carl Ray Cope |
October 9th, 2008 12:53 pm ET I do not understand we bail them out and they take a 400,000 dollar trip. Shouldn't someone give an acount for what these people have done to us. If you and I the average people were to do something like these so call ceo's have done we would be paying the rest of our lives.It doesn't matter who wins the president race if they don't get the crooks out of the finanical institutions they want help us. I wish you all would stop helping obama so much everything that macain comes up with you all seem to find fault but anything obama brings up it's like a gift from God. Macain's polices are much better than obama's, Obama talks about tax cutsfor peoplemaking 250.000 and less I have never heard him say how much he is going to give macain tells what he will do double the amount on dependents and give 5000,00 for purchase of insurance. Obama never said what he would give that I have heard maybe you can let me know what is plan is. He's never denied any of the aligation about raising the inheritis taxes are the capital gains tax. Obama keeps talking about macain giving corpporate people tax cuts thiswouldhelp alot more because it would help more small business, or even big business to create more jobs. I don't know about you but If I had my choice of getting a tax bring break of say 1000,00 per year compared to a job making say 20 to 30 thousand a year or lets say even less 15 thousand which sounds the best to you. Obama spoke the other night about mcain giving in one hand and taking away with the other I think it's the other way around,Obama will ggive us his little tax cut and than take it away with other things.For the insurance polices Obama has never told how he will pay for that either I have never heard him tell how he is going to pay for anything he is perposing if you have let me know. Most countries that have goverment insurance doesn't like and it's not working for them. I noticed that Obama changed his mind on some what he was proposing when he was running agaimst hillary. |
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| Chris |
October 9th, 2008 12:54 pm ET Mabe CNN can research how we can bring these criminals to justice as well. Telling us who they are is only half the battle. The laws of our nation should be adjusted so that the penalty deters this type of financial and unpatriotic activity. Maybe they can be prosecuted as terrorists since they are definately a national security threat. |
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| Michelle |
October 9th, 2008 12:55 pm ET Thanks, Anderson. I'm most interested in learning what your research uncovers. Every day, I, along with thousands of others, drive to work in Houston. We are part of the millions in this country that make up the middle class. As a unit, the middle class is a regular work horse, but that horse is reaching its limit on what it can carry for the politicians and wealthy of this country who only have their own interests at heart. Somewhere it says "Don't muzzle the ox that treadeth out the corn." This is what the politicians and executives of this country have done to the middle class – they've taken and taken until the middle class has nothing more on which to survive. I pray it's not too late for us to remedy the great loss from the greed of so few. |
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| T.A. |
October 9th, 2008 12:57 pm ET I was just wondering why is that these companies pay these people all of this money when they leave? And when someone else leaves the company there is no bonus or health care benefits provided for you or your family. I mean if I make a mistake or mistakes and is asked to leave, do I get some money to help me and my family until I find another job? NO. I have to fight tooth and nail to even get unemployment, I mean it seems as though we are rewarding these people for us failing. |
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| Terri Davis |
October 9th, 2008 12:59 pm ET For those greedy, selfish, low lifes that are guilty of inflicting financial pain on others, their assets should be seized, their homes and fancy automobiles sold, and the money applied to the debt they have caused. I would actually love to retire before I'm 80 but will probably die at my desk. |
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| Eddie Bolton |
October 9th, 2008 1:00 pm ET I sure hope Chris Dodd,Barney Frank , Chuck Schumer and Barack Obama are on the list.All of the aforementioned got plenty of cash from Fannie and Freddie.Barack O`bama with only three years tenure was given the second largest amount of money.That`s astounding when the other names mentioned here were there for the full nine years.We as a people have to start giving severe penalties to greedy,self-serving politicians and executives who believe that our tax money is their larder to do with as they please. |
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| John Smith |
October 9th, 2008 1:01 pm ET The #1 culprit is the US Government for allowing the banks and mortgage industry to repackage, and hide, worthless mortgages in junk investment vehicles. The same government that allowed corporations to cook their books instead of nail them (with the IRS) for hiding losses and passing them on. The #2 culprit are all of the politicians who are no better than the thieves in the corporations that did the illicit actions. The #3 culprit are the CEO's who sit on each others Board Of Directors and reward each other for stealing the public's money, driving their companies into the ground and putting a lot of hard working people out of a job and destroting their lives. The #4 culprit is the media who failed to perform their jobs of true investigative journalism and reporting to uncover all of this and report it many years ago when it was happening. |
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| faith |
October 9th, 2008 1:02 pm ET Now that 's good reporting. After you reveal the names, federal charges needs added. |
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| twojohnny |
October 9th, 2008 1:03 pm ET At 60 it takes some effort to thrill me after a lifetime of hard work and worry, you can imagine how I feel about the latest mis-deeds on Wall Street. But, last night I was absolutely THRILLED to learn that AC360 was "naming names" of the individuals in the private financial sector who led this nation to so much sorrow and ruin. Bring them out of the shadows and let us see their faces. These individuals need to identified to the public and let the chips fall where they may. I'm hoping some of these individuals will be prosecuted and eventually wind up paupers when they get out of prison. "naming names", hopefully is the first step towards that end. |
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| raghav patri |
October 9th, 2008 1:04 pm ET Anderson,I have no clue about your top 10 |
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| H. Hicks, Fl |
October 9th, 2008 1:05 pm ET We can't blame eveyone else–and not blame ourselves. We must be at least #2 on any list. We the people...need to be high on the list..for creating the opportunity in the first place by not managin our finances wisely. |
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| Milton Connor |
October 9th, 2008 1:06 pm ET Why do these CEO's have to get any kind of money? they're the ones that are responsible for the Wall Street collapse. They shouldn't get anything and in fact if recods show that they were taking money away while their company was going into bankrupt they should be prosecuted and send to jail for a long time. Corruption and stealing from innocent people is just as bad as murder and i think they should be sent to jail for life. |
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| LeeAnne |
October 9th, 2008 1:08 pm ET Finally someone is standing up and addressing what's been on ALL our minds! Thank you Anderson for all you do for America! |
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| Carlos |
October 9th, 2008 1:08 pm ET Is there any legal action that can be taken against this people so they 1) return millions from personal gains? |
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| Ellen Kelley |
October 9th, 2008 1:08 pm ET I have not seen the list as yet, but I applaud your investigation and effort. There are too many retirees who are counting on their investments for extra income and I am appalled at our government's lack of oversight and honesty. I called my representative's offices each day to oppose and state how I wasI against the "bailout" to no avail. Nobody was listening and all of those earmarks were added when it went to the Senate and that's when it passed! |
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| Javier Cruz |
October 9th, 2008 1:10 pm ET The government should confiscate Lehman CEO Dick Fuld assets for his irresponsible act. |
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| Jane |
October 9th, 2008 1:10 pm ET About time someone opens the windows...but it won't do any good. These culprits will still have their money, and we won't. But, thanks, Anderson. |
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| Eric |
October 9th, 2008 1:10 pm ET Payback time Anderson! Payback time! An serious public investigation must be taking place to find "How" and "Who". Eric |
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| Hannah Storm |
October 9th, 2008 1:12 pm ET Anderson and 360 team Thank for keeping to your promise to Keep People Honest!!! You are a great team and we appreciate all your hard work. |
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| Max, Dallas, TX |
October 9th, 2008 1:14 pm ET This is a neat idea, but I can't help but doubt that there are only ten baddest of the bad. But there are only so many weeks in a year, huh? |
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| Jenny Rome Ga |
October 9th, 2008 1:14 pm ET Personally I want those AIG guys who went to the Spa/Reosrt on my dime. I want to take everything except one house, two cars, and maybe 100,000.00. Let their precious little darlings go to a public school. Let them join the YMCA for racquette ball. Make their trpohy wives shop at Target and Wal mart and even have to get a job. While you are at it make the little darlings get a job too. Make them live the middle class life for their rest of their lives. It would be a fate worse than prison for them. Lets keep the prisons for the murders etc. |
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| Eric - Portland Oregon |
October 9th, 2008 1:15 pm ET How many people on this list are from the Congress? At least a couple of spots need to be reserved for those law makers who pushed for more "sub-prime" mortgages to help the "less fortunate" get into a house they eventually could not afford. |
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| Cindy |
October 9th, 2008 1:18 pm ET Anderson, Now only if you'd do the exact same thing to the politicians that had their hands in on this mess too. Cindy...Ga. |
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| garrick |
October 9th, 2008 1:18 pm ET why dont you also go after the lobbyist that help these companies get this money and the politicans that help them to rip of the tax payers |
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| nancy smith |
October 9th, 2008 1:18 pm ET Why do the american people have to now pay for the actions of these wall street culprits? This just does not seem fair-peolpe are losing their homes while these cupprits are haveing a good time for themselves-at our expense!! |
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| Mark W |
October 9th, 2008 1:19 pm ET Anderson, |
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| Peter Riehlman |
October 9th, 2008 1:20 pm ET will those involved in the vacation AIG had be penalized in anyway. that was ridiculous. How can such a collpase happen so quickly?? its mind boggling |
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| Lynette |
October 9th, 2008 1:21 pm ET Anderson, this is a half-truth. True, lots of execs walked away with millions, but they did not simply write themselves a check. The Board of Directors of these companies approve the employment agreements that include these benefits You gotta tell the whole story. |
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| Robert Bauer |
October 9th, 2008 1:24 pm ET Throughout the years of the Bush administration, I have always been astounded at the people who cannot understand why people around the world despise Americans. Now, that we've all been hit over the head with the anwer to this question, maybe we will all realize that we have been a nation of pigs – hoarding the resources of the world as if we owned them outright. We deserve every bit of economic disaster that comes our way. The only tragedy that would be greater than the one we're experiencing now, would be if we came away from this crisis with no greater understanding of ourselves than when we went in. |
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| Jason Barnhill |
October 9th, 2008 1:25 pm ET Please help us by doing this right. Expose every single theiving CEO and politician and start impeaching them. Let's have someone put a bill on the table that places strict penalties and harsh jail time for those elected officials who abuse the system. Congress would rather investigate steroid use in the MLB than protect the American people from greedy "executives" and fat-cat politicians. Let's put a term limit on the senate and congress. Let's put in a constitutional ammendment in place that protects the American People's right to transparancy in the spending of public funds. Earmark spending is taxation without representation!!!!!!!!!! |
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| donnese |
October 9th, 2008 1:29 pm ET Blame is NOT a game–quoting from 'Dispatches From the Edge' (Anderson Cooper): Demanding accountability is no game, and there's nothing wrong with trying to understand who mde mistakes, who failed. If no one is held accountable for their decisions, for their acitons, all of this will happen again. Greed and fear are the driving forces behind what is/has been happening in our economic sector. Individual greed, political greed, and corporate greed have made us all susceptible and at risk. Should these leaders pay? Absolutely–I like "T"s idea about a 1% walk-away with everything else going to help salvage the mess we have–and the fear on every level is now driving us deeper into an economic plunge. Who are these people whose actions are now controlling our futures? |
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| Pat in Florida |
October 9th, 2008 1:30 pm ET This is the way it is. They will get away with it this time just like in the past. They are sitting back laughing at the outrage, and they know they have all the money locked away. They know that people are going to forget in a few weeks. Last year the CEO of ExxonMobil retired with a $750 million package (and he complained because he wanted healthcare benefits for life). The root of the problem is the lack of oversight. These companies must provide annual audits and the outrageous pay levels should be identified as "beyond the norm" and dissallowed. However, nobody can actually dissallow it, so it goes on and will continue to go on. |
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| kathi |
October 9th, 2008 1:31 pm ET Thank you Anderson Cooper for researching all this information and getting the names public of all those responsible from the Congress, private sectors, banking firms, etc. |
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| Dave |
October 9th, 2008 1:34 pm ET They need to go to jail. People like me go to Iraq and Afghanistan to fight for this country while people like them are out to pilfer as much as they can from those around them in the States. If a person is totally bent on filching as much money as possible from their fellow Americans, then I say strip them of their US Citizenship. We don't need them here, we don't need parasites. |
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| RJE |
October 9th, 2008 1:34 pm ET Everyone talks about Wall St and blame, but what about the local bank clerk? No one has mentioned the clerk that convinced the customer to apply for a bigger mortgage than they could afford!! The clerk that would fill out the application on behalf of a customer!!! The clerk that would sell a 5 year fixed rate mortgage based on a potential wage the customer could be earning in that time!!! Why would he do this? Because several years ago, the banks changed their guaranteed bonus, to a commission structure. OK, the customer has to take a great percentage of the blame, but this greedy mess also started from the bottom of the banking chain up!!! |
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| Monika |
October 9th, 2008 1:35 pm ET You are absolutely right, Anderson! I get sick to my stomach every time I hear someone say, "Now is not the time to point fingers". If not now, when? When people have moved on and forgotten about it ? I agree with those people who say that these criminals should be criminally prosecuted and ALL of their assets seized and reverted back to taxpayer funds. This money should be paid into the Social Security fund, retirement benefits, universal healthcare and whatever other non-existant funds the government is promising the people. And in case there were any money left over, it should be used for infrastructure improvements, medical and environmental research etc. Frankly, I don't understand why this hasn't been done already. I guess it's because the politicians are equally responsible. I commend you for naming names and showing us their faces, Anderson. I just don't think this will get us our money back. Outrage is good when combined with action. Outrage without action is pointless. I wish people would just vote out every single incumbent. Perhaps this would send a strong enough message. |
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| stan |
October 9th, 2008 1:36 pm ET In my opinion one of the main reasons, why our economy is struggling so much is a greed, total dishonesty and arrogance of the people that are suppose to lead our country and manage our Corporations. And one of the examples of that is along with other problems we are facing now such as sub rime mortgage situation, is a crazy outsourcing. process that is despising our fiscal situation is not slowing down a bit. That tells me only one thing that even in the times when everything is going down the CEO’s of the big companes are still looking for ways to keep their personal financial interest as priority. |
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| Frank in Maryland |
October 9th, 2008 1:37 pm ET Point your finger at all of us. For the past generation, we've lived lifestyles consuming more than we produced and we've allowed ourselves to be led by those who make us the most generous promises, without regard for the cost of those promises or who'll pay for them. Blame liberal government policy that allowed citizens to spend more than they made or could afford, blame Congress, blame the Federal Reserve for stoking the housing bubble, blame Bush, blame Clinton, blame Democrats, Wall Street and Republicans, but before you blame anyone, look in the mirror. Now it's time to pay up for long years of excess. It's going to hurt. |
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| DIANE ROONEY |
October 9th, 2008 1:37 pm ET Yes, the 10 most wanted. Or are there more? The big question in the taxpayer's mind--Will they be prosecuted for fraud if found, and |
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| LLOYD ROGERS |
October 9th, 2008 1:37 pm ET Follow the money trail and you will see who is really responsible and who has benefitted from this debacle!!! You may be surprised who delayed requests to correct the real issue in the money laundering! Too bad there aren't real investigations to get to the source! Any takers out there? |
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| Laszlo |
October 9th, 2008 1:39 pm ET Who is to blame for this financial fiasco? Many benefitted inappropriately at the expense of us all. I suggest that all Wall Street or Main Street individuals who benefited from multi-million dollar bonuses must be considered a suspect, and needs to be investigated. Pretty soon a pattern of deceptive practices will emerge, and the real criminals will be identifiable. |
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| Amy |
October 9th, 2008 1:39 pm ET While these people are far from blame, it is too easy to try to place ALL the blame on the big-wigs. Let us not forget..the 'average joes' of the US who took out more loans than they could afford are equally responsible. You helped do this to yourself. I have been very careful with my money...no credit card debt, only a mortgage and student loans that I have never missed a payment on. And now my taxes are going to be bailing you out. Socialism at it's finest. |
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| Dennis |
October 9th, 2008 1:40 pm ET Why should they escape justice? |
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| P. M. Kelter |
October 9th, 2008 1:42 pm ET I appreciate your TEN MOST WANTED LIST and want all of them exposed to the public. However, it is evident these people do not have any ethics and never will. They only look after number one! It all comes down to GREED. These people cheated on the playground and grew up wanting it all and RIGHT NOW!!! I do hope it is true that "what goes around comes around." |
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| Fleur |
October 9th, 2008 1:43 pm ET AIG: Paulson gave AIG $85 billion. This amount is not included in the $700+ billion of the bailout bill. Less than a week after that "donation" the AIG executives went for a week-long retreat at a luxury spa in California to the tune of almost a half million dollars. $23,000 of which was for spa treatments. It must have been the stress of bilking the government. |
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| Tavi |
October 9th, 2008 1:43 pm ET Now THIS is REAL journalism – and journalism at its finest! Kudos to Anderson and team! |
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| Phil |
October 9th, 2008 1:44 pm ET Pointing the finger at CEO's of failing companies may bring some short term satisfaction to the American public but and as soon as its out of the spotlight it will soon be forgotten. It will simply not solve the problem and neither will the Congressional hearings. It's a side show. As long as the American system allows for special interests and lobbies to influence policies and laws, politicians cannot and should not be completely trusted. It comes down to the political elite serving the business elite. America needs a paradigm shift, in its thinking, in its actions and its beliefs. Americans need to exercise healthy skepticism of the capitalistic system. As long as greed cannot be kept in check there will always be risk. There is nothing wrong with a balanced socialistic system that gives more say and control to the people....after all the preamble of the constitution says: "We the people....for the people....by the people". Don't let anyone take that away from you!!! |
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| Mahesh from Ottawa, Canada |
October 9th, 2008 1:45 pm ET Nothing happens to those CEOs who caused the collapse. Public memory is short, now the presidential elections are coming and in the end everything will be forgotten. The sufferers are the ordinary folks who toil hard. |
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| Meredith |
October 9th, 2008 1:45 pm ET Good, apparently these people are just going to get away with their disgusting behavior. If public shaming is all we have, bring it on. Then we can at least spit on them in the street if we see them. |
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| Al |
October 9th, 2008 1:46 pm ET Are these CEOs not terrorists? They have caused so much grief, pain, fear, uncertainty and terror in this country? More than some others who are labeled as terrorists. They have taken what is not rightfully theirs. They are walking away with full pockets and laughing all the way. And chances are they will get away with it. Lets add them to the watch-list of suspected/known theorists. Will no one hold them accountable? Thank you for what you are doing to identify them. Al |
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| Drew |
October 9th, 2008 1:46 pm ET GREED, GREED, and GREED |
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| Stuart Davis |
October 9th, 2008 1:46 pm ET I hope that when you consider the culprits for this meltdown, you will include the failed ideology of "DEREGULATION". The Republicans fought for deregulation under Reagan and that led to the collapse of the Savings and Loan industry that cost the taxpayers $124 billion and led to a recession. We didn't learn from that so we listened to Phil Gramm (McCains first economic advisor) and others calling for deregulation again and now look what we have. Of course the Republicans are blaming the move to open mortgages to those who were redlined as the cause. Even though Pres. Bush liked to take credit for the highest homeownership rate in history, it wasn't until the meltdown that they turned on the mortgage problem The problem, was not the program but rather the fact that these greedy lenders and banks were completely without any sort of regulation. |
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| Judy |
October 9th, 2008 1:46 pm ET Mr. Anderson, Please have someone address "Credit Default Swap" (CDS)......this is a very serious situation and most American don't know what they are or how they work. We have about $55trillion in the USA and $681 trillion in the world. thanks jwh |
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| James Hatch |
October 9th, 2008 1:46 pm ET I think we are all a little bit to blame; these people convinced us that we could afford a $500,000 house with no down payment when all we could really afford was a $250,000 house. They convinced us that we could afford a European car when we should have bought an American car. They convinced us that our sense of worth was how much we could charge on our credit cards. The bad news is that we believed them and so we bought, we borrowed, bought more, borrowed more while they were making large profits through great debts. They convinced us to borrow more to pay off the more we owed. Once again, we believed them. Bottom line is their irresponsability was completely built on our own irresponsibility. Ironic now that we are the ones helping them who have convinced us that by helping them, we are helping ourselves. Guess what? We believe them again. Who is to blame? All of us! James |
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| Carol |
October 9th, 2008 1:48 pm ET CEO's compensations packages should be solely based on the profits of the company they are supposed to be running, period. |
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| Candy Sharp |
October 9th, 2008 1:51 pm ET How in the world can our government authorize the new agreement to give AIG an additional $38 B, AFTER the disclosure of their $400,000+ junket immediately following the first $85B bailout? Is there no sense of responsibility to the public who is ultimately paying for this obsene consumption and sense of entiltement. Anyone who voted for or agreed to this should be prosecuted along with the executives who thumbed their noses at every taxpayer by treating themselves to spa treatments, massages, etc. after taking our money to cover their bad judgement. This money is coming from people who cannot heat their homes or put food on their talbes, IF they are lucky enough to still HAVE their homes. The public who is footing the bill for this did not fail at their jobs, are in many cases working two jobs, and have no golden parachute if their companys fail. When are we going to ake up and hold people responsible for their actions? |
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| Joe Smith |
October 9th, 2008 1:52 pm ET Where is the justice in this country? If some one robs me on the street of ten dollars they go to jail. If you steal 100k from my 401k you get a 360 million golden parachute. The CEO's and thier pals should be made to give the money back and put in jail. The american people demand justice |
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| dj |
October 9th, 2008 1:53 pm ET Not only do we have to prosecute these CEOs and executives, but we also have to go after their compensation committees and the Board of Directors that approve these outrageous amounts as well as their outside accounting firms that are just as quilty. The County Wide CEO received a going away gift of $100 million dollars. Not only should the money be returned, but these people need to go to prison. |
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| Kris |
October 9th, 2008 1:53 pm ET It is always easy to blame others for what is happening. However, it is not practical at all. Politicians and CEOs will be always making big money no matters what and it is true they are to blame for not imposing regulations or for steeling our money at guns point. However, the really bad news is that we won’t change them. We can only control what we do and how we behave. Yes, you will have to keep that car for ten years and you should not change cars every two or three years just because that new SUV looks good on you. No, you can not buy a $500,000 house even if you can borrow the money. No, you should not be buying that $175,000 house if you can not put the 20% down at the time of the purchase. No, you should not be getting cable if you are having problems paying your water bill, Do not dare using your credit care to watch the football games. PBS is great just stick to it. No, you do not need (neither your child) that new iphone or ipod or whatever to make you happy what you need to do is to pay your credit card debt. I am not blaming us for this but we need to change our behavior to make it harder for these irresponsible politicians and CEOs to take our money and ruin our lives. |
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| Brian, PA |
October 9th, 2008 1:54 pm ET Top 10? I'm quite sure there are more. In fact, we know a log of people who are to blame. However, my question isn't "who is responsible" but rather how do we get out of this? We can play the blame game all day and scream for their heads, but that isn't going to fix the problem. Sure, we can blame politicians, greedy CEOs, predatory lenders, the people who should have known better than to take those loans, or even the people who lied in order to get one of those loans. However, it does no good right now. We need action, but it's action that's going to fix the economy. We can deal with all those terrible people after we fix their problems. |
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| Randhir |
October 9th, 2008 1:54 pm ET Make the list only if you are going to push to get the people convicted and not to fill up air time. Here's my list: 1. CEO's of Lehman, Bear Stearns, AIG, goldman Sachs, JPM Chase, Morgan Stanley. |
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| Charles |
October 9th, 2008 1:54 pm ET Thanks for finally bringing these facts out Anderson... |
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| Jason |
October 9th, 2008 1:54 pm ET Why has no one gone after real estate? Is it because every other person's brother or sister is an 'agent' or 'investor' in it? This all started there, not the banks. A home that was worth $140k in 2004 is not worth $360k in 2007. Because people trust real estate and think they can duplicate the effects in their own home, they go along with the prices. This starts the snowball rolling. Real estate as an industry got people believing that their properties, homes, etc. were worth far more than they realistically were. This boosted their commissions, made it harder for the average person to buy a home, and subsequently lead banks to try to come up with a way to both make it possible for those to afford those over-inflated homes, and also get a piece of the action, like real estate had. In the end, it would appear that real estate is left looking like they did nothing wrong, when they created this mess from the very beginning. The question is whether someone will ever hold their role accountable in this mess. |
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| Ben (NY) |
October 9th, 2008 1:55 pm ET Couldn't agree more, no-one ever takes responsibility. Michael Brown, former FEMA chief, never was asked to take responsibilty for Katrina. Neither was Alberto Gonzlez for the justice firing and Cheney/Rove for outing our agents. It's interesting that the only people that we make an example off are those that have some sort of sexual misstep. E.g Clinton, Spitzer, Larry Craig. I couldn't care less what these public officials do in their bedrooms, bathrooms (public or not), or elsewhere as long as they do their jobs of protecting us from the market, terrorists and other corrupt activities that hurt our pockets, jobs and lifestyle. Keep it up!! Maybe someone will listen. |
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| Thomas McCarthy |
October 9th, 2008 1:56 pm ET These cowards need to be taught a lesson in humility and take ownership for their wrong doings. They are laughing at us all the way to the bank....er...mattress. |
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| Robert Zich |
October 9th, 2008 1:56 pm ET What concerns me about the analysis of the causes of our economic problems is that core philosophical issues are ignored. We embraced the idea of central planners, central banks, corporate welfare, and the "good old boy" network during the Lincoln administration. We have been on the path of "mercantilism" ever since at great cost to personal freedoms, economic freedoms, and the deterents to beauracracy and corruption that our founding fathers put in place by way of our Constitution. We have ignored the fundamentals of freedom endorsed by Jefferson and instead pursued the the "strong central government" ideas of Hamilton. Until we acknowledge the fundamental flaws in the system, we will continue to erode the foundations of this country. By the way, Perot is not the only one who made predictions about our economic plight. Austrian Economics proponents, including Dr. Ron Paul, have been making the same predictions for years. Maybe it is time we re-thought more than just a changing of the guard and considered a whole different approach to how we are governed. In fact, we have a great place to start in our Constitution and the wisdom of our founders. |
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| Donna |
October 9th, 2008 1:56 pm ET Thank you for doing this. Everyone of them is a criminal. |
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| Cass |
October 9th, 2008 1:56 pm ET Too bad you cannot tar and feather all of them. |
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| Jennifer - Michigan |
October 9th, 2008 1:57 pm ET Hi there Anderson, |
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| Beth in VA |
October 9th, 2008 1:57 pm ET Mr. Anderson – it's good to see that the culprits are being exposed, but you must remember to keep your reporting honest and include everyone who had his/her hand in making this happen and not just the listed 10. I'm sure you've done a good amount of homework but I'm not comfortable that a. you have gathered all the data regarding this fiasco, and b. that the public is going to get the complete and unbiased truth. Suffice it to say that the sleeping public have awakened and are now beginning to shed their political and media apathy to become a more discerning group. With all the resources available (the internet being one) and the Freedom of Information Act (FOIA), the American public can find out the who, what, when, where, and why on their own. I certainly will be trusting my own instincts much more so than simply relying on the mass news media (both public and private) for concrete journalistic reporting. Just because John Doe from XYZ news affiliate said it was so does not make it so. Not anymore. Those days are gone. |
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| Joe Graziano |
October 9th, 2008 1:59 pm ET When the CEO of Lehman Brothers was before Congress and was asked if he took any assets/money out of the company. ie. sold some of his stock and he answered yes, about $250-$300 million, congress should have jumped all over him. What I mean is that these CEOs are cashing out when in fact they know they are going belly-up. This under definition is "Insider Trading" and there is no excuse to justify pulling assets out of the company your responsible for when you know your going to file bankruptcy. They all should be investigated by the SEC and jailed for what they did, but you know, it is "do as I say, not as I do" in this country. The rich get away with murder. |
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| CA Mike |
October 9th, 2008 1:59 pm ET Everyone complains about how much these CEOs make, but what about athletes getting paid just as much to hit a ball? Everyone is crying about the CEOs getting paid, but it's a double standard when public companies are paying athletes millions of dollars as well and no one is complaining. Where's the outcry about that? |
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| Teresa D |
October 9th, 2008 1:59 pm ET It is utterly outrageous these people are not in jail or being prosecuted. Isn’t this called fraud? If it was you and me the cops would be knocking on our doors already, but these bunch of thieves are just reprimanded in Congress like mischievous little boys... and what is the strongest word the White House uses to describe this behavior? DESPICABLE? I can think of another choice few. Then I have to hear about how we have to watch out for terrorists because they are going to do us in... We don’t need terrorists to do us in! We have career criminals and liars running our banks and corporations for that. And apparently without any accountability. |
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| Peter B |
October 9th, 2008 2:01 pm ET When regulatory oversight is non existant, when risk taking carries only the upside rewards and when protecting shareholder value is just a talking point for the annual meeting greed and vice have a free reign. It is criminal that tens if not hundred of thousands of lives have been destroyed by the cavalier actions of executives who took all the rewards and now suffer non of the damage. They think that not cashing in the last 10 million options (as the case of Lehman CEO) is a penalty. How about the billions siphoned off before that. What's was that? Ernest money? They should be jailed and made to return the ill gotten gains. The last 10 years have been a travesty of easy rules, fast money and an erosion of business ethics and plan old decency and respect. It started with Enron and who knows where and when it will end? Perhaps on a soup line for the investors that have been taken to the wall. |
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| BWeaver |
October 9th, 2008 2:01 pm ET Bravo to you Anderson Cooper. Right here, right now lets start a grassroots campaign to tell Congress we want these over-compensated underqualified CEO's and Board of Directors prosecuted and the money recovered to these companies. Only then, will the American people have the confidence to invest in corporate america. Would you attach a list to this site so we can send our names to Congress? Also, AIG needs to pay back the $440,000 retreat funds before it gets another dime! Ex Goldman Sachs Sec. of Treas. Henry Paulson and Ex Exec Vice Pres. Neel Kaskari need to be held accountable for every nickel of our tax money they spend. |
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| Barry_Long Beach |
October 9th, 2008 2:03 pm ET I think the people who took loans who KNEW they could not afford should be here also. I love Obama, but he along with MCcain are placing no responsibility on the homeowner. If I buy a BMW that I can't afford, why can't I renogotaite the principal on that? It's like they are scared for asking people to take personal responsibilty. |
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| CAL |
October 9th, 2008 2:03 pm ET Anderson is generally even handed, but lets see if this top 10 list is tainted by partisan politics. More specifically, lets see if Chris "I get preferred loan terms from Countrywide" Dodd and Barney "let Fannie and Freddie get as big as they want - it provides short term satisfaction to my constituents" Frank get named, despite being Democrats. (apologies for the overly descriptive nicknames). Others (in no particular order): |
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| April |
October 9th, 2008 2:03 pm ET Thank you Anderson for presenting the show. Let's follow the money trail, I personally think Congress didn't throw that money at these Exec's really fast because they were afraid the economy was going to fail any minute. No it was going that way anyway...........they were hoping it would go away quickly (not as quickly as they ran out of the Capitol Building). They don't want the American people who they believe to be stupid to link lobbist's money to them. Let's not get the working grunts up in arms! So sad it didn't work in their favor because these arrogant CEO's just keep on spending, giving themselves, trips, bonus money, millions of taxpayers dollars. The secret is you guys owe us and we are going to keep on taking, and take they did. |
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| PJ |
October 9th, 2008 2:04 pm ET Thank God for you, Anderson... It's about time someone stood up for something right in this country of ours. All of our lives have forever changed due to the greed and incompetence of failed politicians who would rather line their political pockets than do for the American people what they're paid to do...represent the best interests of the American people. I am absolutely sickened by these CEO's and politicians who have not one ounce of remorse for anything they did to bring this crisis on the American people. Right now AIG is probably planning another "exclusive" one-finger solute to the American people. May they rot in hell forever for their outright deceiptfulness of this great nation and the American people. |
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| John W, Kalamazoo |
October 9th, 2008 2:05 pm ET Be sure you mention the role of Fannie Mae, whose goal and mission is to 'make loans happen'. Don't forget to mention the people and companies who bought 'mortgage derivatives' and thought investing an a concept that neither they nor economists could fathom was better than speculating on a 'silver mine'. |
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| Aimee |
October 9th, 2008 2:05 pm ET This financial mess we're in is really like a giant hydra, with great many tentacles of responsibility contributing to the whole of the monster. The subprime mortgage mess started out innocently enough – to put some energy into the housing market and allow some folks to achieve the American Dream. I'm sure it's roots were somewhere in urban renewal projects – buy up otherwise unsellable properties and turn them into real homes. What it morphed into is yuppies with entitlement issues (I DESERVE THIS!!) buying $250K condos on their $60K salaries, refinancing so they could buy their bigscreen tv and put in the hottub out back, and thinking they would be paying these cheap mortgages until they're old and grey. All of this could have really been one large market correction were it not for the greedy carpetbaggers (mortgage bankers) rolling up their tents and fleeing in their wagons, golden parachutes tucked safely under arm. |
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| KC |
October 9th, 2008 2:06 pm ET It's about time these out of control companies pay for their crimes & what they have done to our wonderful country, our economy & it's people. |
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| Lax |
October 9th, 2008 2:07 pm ET Anderson Cooper- I think it is totally unfair to target CEO's because of their high compensation because this is not the root cause of the problem of our fanancial crisis. Do you think if thier compemsation is returned then the crisis will go. There is blame on many, from the banks who loaned money without even checking if they will be repayed and people who didn't pay their mortages to the banks and most importantly the regulators didn't regulate this whole process properly or correctly. These CEO are made scape goat so that they can be blamed. Earlier this week Lehman CEO was questioned by law makers on his actions before bankrupcy, don't you think this should have done long before. If somebody actually questioned this whole process long back then we wouldn't have been in this crisis. Bottom line is...hope we all have learned our lessons. |
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| Linda |
October 9th, 2008 2:08 pm ET I'm very glad you are covering this topic. However, after watching the CNN debate coverage, I see that CNN has a difficult time being impartial. I hope you will prove me wrong by providing factual and balanced information about the causes of the economic problem. I'm utterly fed up with hearing analysts on your network preface every excuse with, "The failed policies of the last eight years...". Please show the real roots of the problem and explain the contributing factors. Like others who have posted, I'd like to see someone go to jail for this. But, that won't undo what has happened. I'm less concerned about vengence than knowing what we, both as individuals and collectively, can learn from this experience. I want to understand the results of political policies we enacted. That information will enable me to determine how and who I want my representatives to respond to these issues in the future. Again... balanced and unbiased reporting, please. |
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| Steve Cox |
October 9th, 2008 2:08 pm ET Please look into the underlying cause of the Freddie/Fannie failures – The pressure to lend by mortgage brokers, the packaging of trashy mortgages by Freddie/Fannie and the control of Freddie/Fannie over congress. Congress also plays a larger role simply because of its use of lending incentives to low grade borrowers to seek rewarding votes at election time – just like physics, it's hard to legislate against market forces. sc |
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| Jon, California |
October 9th, 2008 2:09 pm ET It looks like fiduciary duties to all of us were violated. Hopefully the FBI can use RICO in a new way to seize all of the ill-gotten gains of these crooks, in addition to throwing them all in jail. It looks like some vacanies in GITMO may be opening up. |
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| Shannon in Virginia |
October 9th, 2008 2:09 pm ET Thank you. "Hold People in Power Accountable" says the tshirt–true then, after Katrina, and true now... we need to know who these criminals are who held themselves above any kind of ethics, compassion or ability to think beyond their own inflated salaries. Just goes to show that a fancy graduate degree doesn't translate into good business practice. |
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| Asa |
October 9th, 2008 2:09 pm ET Where is the national outrage? Does everyone realize that the bail out package contained 150 billion dollars of earmarks. We have been molested! We need to know all the facts that resulted in this economic outrage, so we can be guided for the future. Those responsible should be made to pay, and then go to jail! And don't listed to our political candidates go on about tax cuts – that won't work. What about unemployment, the problems with the dollar, etc. The economic ignorance of our candidates is sad!! |
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| Betty Braswell |
October 9th, 2008 2:09 pm ET I have been hoping that someone or some organization would identify the people who have caused the situation with the US economy. I am sure many have already retired and will never have to face the embarrassment of their greed. Thank you CNN for truly informing the public. |
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| Al |
October 9th, 2008 2:10 pm ET A common theme that seems to be so well adopted in corporate America today is 'Rewarding Failure'. Top level executives walk out the door with millions in bonus packages and are not held accountable for the turmoil they allowed. I am glad to hear that the FBI is launching investigations into these matters and the SEC is also under an audit investigation. Also humorous is the mistakes the current administration has made by thinking they are financial experts in trying to save the economy. If only all executives maintained the sound fundamentals as Warren Buffet and legends of the industrial revolution. We better shape up soon if we want to remain a super-power. |
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| Dennis from Kansas |
October 9th, 2008 2:11 pm ET It is amazing how certain people in our country can obtain vast sums of money through illegal and corrupt means and as long as it doesn't affect us directly, we ignore it. Soon these perpetrators, through their newly acclaimed social status by corrupt methods, become icons in a democractic system. Many of them go into politics and become our leaders making policy and turning their heads to associates who can identify with their social status and how they got there. The next thing you know, there are foundations, scholarship grants and even statutes made in the name of these American icons(?) They manage to contribute a small amount (millions) of their corruptly obtained vast empire to a just cause and we celebrate them! Don't get me wrong, I am as much a patriot as anyone as I have fought in combat in Viet Nam proudly wearing my uniform. But sometimes I think some of the democratic methods of the Chinese government should be considered for the good ole USA. The Chinese government would not take kindly to individual social icons or politicians who make vast millions of dollars at the cost of raping their country or its people. I feel the penalty for these rich icons would definately be a deterrant to the crime(s). Does anyone disagree? |
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| John, IL |
October 9th, 2008 2:11 pm ET This is so important. Besides the many clueless CEOs, I hope you also hold the key decision makers in government (Greenspan, treasury officials and the key legislature members) accountable as well. Be nonpartisan and fact based. These lessons need to be taught to our kids and grandkids. "There is no such thing as a free lunch!" |
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| Wayne A Mitchell |
October 9th, 2008 2:11 pm ET AC great job with your 360, we enjoy it every night.. Has any one addressed NASA's budget and goals. A thought on taking NASA's goal and saying hey, let's get the best minds and focusing on Bio fuels,, Bio tech research, whatever and stop putting all kinds of money into the the moon, mars and and beyond.. How many billions of dollars are we spending there?? We don't have to cut the budget but let's get these top minds focusing on something that will help us here in our country. Let's get these guys on the same page.. Just a thought!!! |
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| Charlie |
October 9th, 2008 2:11 pm ET The reason no one takes responsibility, and always point the finger to the other party, is because they want to get reelected. And this is an election year. Even if someone were to man up, they'd likely get booted from office. We teach our kids to take responsibility for their actions and be held accountable but we don't teach our bratty politicians! |
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| Luke Hoefnagel |
October 9th, 2008 2:11 pm ET I read a lot of comments that focus on revenge .. I would like to see how these CEOs get into this state of mind. They see nothing wrong with their actions and results of their behavior to the common folk under their supervision and control. Is this history repeating itself? Are they buying a seat in the here-after? How can anyone get that far removed from the humanity and the daily struggle for survival. Are these the same people that would walk on the indigent and suffering for the almighty buck? It all comes back to the basics...pure greed at any price ... |
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| Sue |
October 9th, 2008 2:12 pm ET The number one spot should be reserved for George Bush. |
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| Craig |
October 9th, 2008 2:12 pm ET They committed economic treason, greed to the extent that it affects all Americans adversely. They knew what they were doing, a sentence of jail plus hefty fines that re-coup their ill-gotten gains is appropriate |
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| Nisha P. |
October 9th, 2008 2:12 pm ET Thank you for seeking the truth AC! I heard you talking about who would be held accountable last week, and I knew you'd follow up on it. When you said on air that it reminded you of right after Hurricane Katrina, I was thinking of the same thing. Politicians thanking each other when they haven't even done their jobs...trying to fool the public into believing that they have. Thank you 360! |
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| Wolfgang Kaml |
October 9th, 2008 2:12 pm ET Even though they took millions – those CEOs are just little figures in the big game of the real criminal – George Bush. If you got the guts, go after him and make sure he can't walk freely out of the office when the time comes for the new president to take over... take him out of the office now and prosecute him through the justice system. He changed the laws for trading (short selling, etc.) and he knew exactly what he was doing. |
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| Alex |
October 9th, 2008 2:12 pm ET One solution is to make it Federal Law on capping all the CEO pay and compensation on all publically traded companies in the states. I will even endorse an amount of perhaps 10 million dollars per year. No human being should make $480 million dollars.....what the heck are you going to spend it on? Don't forget the other leadership that led us into this mess, his intials are GWB. |
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| mark johnson |
October 9th, 2008 2:13 pm ET I hope that Dodd, Frank, Raines, Pres Clinton are on the list. As well as all the Democrats (mostly) and Republicans who voted against the reforms that John McCain attempted to pass 2 yrs ago. |
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| Glenn Kratzer |
October 9th, 2008 2:13 pm ET Let's be clear here as to exactly how do these CEO's and top company officials get these sweet deals in pay and bonuses, the Board of Directors for each of these companies vote for them and it's time to bring to light their names as well. The Board of Directors for AIG, Lehman Bros, Bear Sterns, Fannie Mae, Freddie Mac etc. all have a responsibility to oversee the operation of a company and raise the red flag when problems come up. Either every board member on all of these boards are 1) lied to by the company they oversee, 2) ignorant as to exactly what is going on within their company or 3) just don't care about anything but their own financial well being or the health of either the company or the country. I find it hard to believe that EVERY director of EVERY company that is tied to this financial bailout is without fault. If they are truely ill informed or ignorant as to what is going on, then it suggest we have a consolidated conspiriacy within the financial sector that threatens the very existance of our country and should be exposed for what it really is. |
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| Michael Mesri |
October 9th, 2008 2:14 pm ET Anderson. What is the use. This happens every few years. The super rich steal a lot of money from the middle class, and not so rich. A couple of them go to jail, and the rest keep doing the same and getting richer. Until the rich corporations keep lobbying the way they are and put their people in the congress and the white house nothing will change, while the ordinary people are too busy watching American Idol, and their votes are stolen based on abortion, and gay marriage. |
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| Jim |
October 9th, 2008 2:14 pm ET There is a link between the preference that AIG recieved and Paulson, and Goldman Sachs, it is disgusting. Paulson has and continues to do a lousy job, actually I am appalled at the lack of disclosure provided by the news media. Where are Woodward and Bernstien when you need them. These guys should all be financially cut off, and their previous earnings be returned to the taxpayers (clawbacks) in wall street parlance. As in Enron, the bad stuff will surface, oh yeah and my final comment is, let AIG tank. |
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| Nazar |
October 9th, 2008 2:14 pm ET We are a great nation and we will pull out of it if we work together. We have the technology and know how to bring these decision makers (CEO) back on stage and put them on the chopping block. We should make an example out of them. |
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| Patricia |
October 9th, 2008 2:15 pm ET Answer to KAB.....I did vote for Ross Perot who said just as you wrote...it was in 1992......No one believed what he said ...we wouldn't be in this mess if he was in charge. I totally agree with Dave in Illilnois....Franks and Dodd and others in both parites should be right on top of your list. O'Reilly blasted Franks and rightfully so (only he should have done it with more control). |
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| Cathy in Kansas |
October 9th, 2008 2:15 pm ET Thank you for reporting on this–it is outrageous what these people have done to their own companies and our country. Throw them in jail. |
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| tom |
October 9th, 2008 2:15 pm ET the solution: the CEO's AND their Boards of Directors have to give all their accumulated wealth to the US govt in exchange for 1 home, 3 vehicles at most, no airplanes, and a salary of $200,000 or less for the rest of their lives. The government then uses that wealth reclaimed to put towards the payoff of the bailout. Any positve investment return by those companies after this goes into a fund to reduce every US citizen's federal income tax bill. |
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| Joe Degennaro |
October 9th, 2008 2:15 pm ET Always in a crisis, we Americans are always looking for the "blame guy". Well, there are a few higher ups who contributed to this and got rich from it. But the real blame goes to 40 million Americans who |
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| Basil E. Robbins |
October 9th, 2008 2:16 pm ET H. Ross Perot was right in 1991 , that we would hear a Big Sucking Sound, when we enacted NAFTA and openned our borders to all imports and made agreements that we would stablized the economies of other counties in the world. He was right then and he is still right. The Big Sucking Sound has come home. By government policy we have exported jobs and industrial capability to other countries without regard to the people of the United States. Our politicians and government bureauocrates continue to give away our richs and degotiate free trade agreements, totally to the benefit of other counties. We people have bought into the notion that the US is a Consumer Nation; that lasts only so long and then it is time to pay the piper. We all bought foriegn goods and now they own us. |
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| John Williams |
October 9th, 2008 2:16 pm ET Anderson |
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| Jeff |
October 9th, 2008 2:17 pm ET Before people go nuts: I want to make it clear that I also believe that those responsible for the financial crisis should be held accountable. I just don't believe that inciting a mob mentality, whipping up hatred and then providing the targets to the mob in a "Most Wanted" list is a public service. The Justice Department should investigate and brings charges if evidence of wrong doing exists. If the courts find individuals guilty, then the courts can decide upon restitution. Unfortunately, the courts may find that what was being done, although likely highly unethical and extremely self-serving, may not have been illegal. If this turns out to be the case, society as a whole needs to decide that the vast discrepancy in pay between CEO's and other sectors of the general public is immoral and has to be changed. |
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| Nycki |
October 9th, 2008 2:18 pm ET I would be interested to know if realtors in general are going to be exposed. I purchased my home in 1989 and the realtors I spoke with did their best to get me to spend more money than I knew I could actually afford. I had the beginnings of a financial background going for me, so I was able to question some of the things they were saying and counter their responses with truth. Many, many people were lead down the wrong path by greedy realtors, who in turn placed them in the hands of greedy banks. When you make such a large purchase, and it's your first time, and you are young, or inexperienced at such things, you want to believe that you can trust the "experts" that you have turned to for making your first major purchase in real estate. I know that if I hadn't questionned my realtor, I would have taken the bad advice given and would have lost my home within the first 18 months of ownership. My heart goes out to anyone who was snowballed by a lender into believing such lies. And I sincerely hope that all the guilty parties involved get what they have coming to them. Heaven only knows that they have "earned" it. |
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| Devon in California |
October 9th, 2008 2:18 pm ET Anderson, I bought a house in 1999 after saving for years to afford a down payment and set monthly payments. I have made every payment on-time because I structured my loan to ensure that my payments would remain constant. Common sense says that I am more likely to continue to afford my payments if I can afford them at the onset. Obviously, a number of Americans do not agree with me. There is enough guilt to go around between the deregulation of the banks and investment houses and the frenzied mortgage lenders who capitalized on less stringent lending standards to make questionable loans to overanxious consumers who jumped on the home-ownership bandwagon in the last decade. By the way, where was the media in these last thirty or so years of undoing? As Harry Brown (1996 and 2000 Libertarian presidential candidate) said often: "The free market punishes irresponsibility, the government rewards it." A free market is a painful existence, but so to is a socialist state. So Anderson, line up your rogue's gallery of scapegoats to make Americans feel better. Ultimately, we all are culpable for letting too many people make STUPID choices. |
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| me |
October 9th, 2008 2:18 pm ET For all of those demanding CEO pay reductions, " No One person is worth what they made off the sweat in tears of the American workers ", let's please not then forget the beautiful people too. That's right, Hollywood actors/actresses, musicians, etc. OPRA. Some of these "individuals" are making millions more then CEOs and they haven't created job one or societal benefit one. Oh yeah, and then there are our amazing althetes. You better take all their paychecks. Nobody's worth whose standard? Those who have failed to attain the greatest heights? I really can't seem to solve the equation where your failings equal my rewards!!!!! |
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| Doug Gilliam |
October 9th, 2008 2:19 pm ET I don't think American confidence in banks or the stock market will be restored until there is some evidence of accountability. Many people seem to think that this is no time for finger pointing but I feel finger pointing is critical. The American public needs to be reassured that this type of thing will never happen again. The means to accomplish this is by way of a thorough investigation. I also feel that there should be an additional focus on investment managers over-seeing some of the larger Hedge funds. The leverage and influence Hedge funds have over our markets is substantial. My current understanding concerning some of these hedge funds, which may or may not be correct, is that several of the larger ones are in as much if not more trouble than most of the banks that have already gone down. Thanks Doug Gilliam, Cloudcroft, NM |
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| Randall Oldham |
October 9th, 2008 2:21 pm ET In order to securitize a loan, it requires collusion of the investment bank, banks, insurance company, and rating agency. All of the executives in these companies knew exactly what they were doing. There was no naivete. Mortgage Bankers and Mortgage Brokers contributed to the fraud, along with the occasional Appraiser who inflated values. Our government officials learned nothing from the Savings & Loan crisis of the 1980's. We should have stringent oversight of all the aforementioned companies and individuals. Of even greater risk to our financial system are credit default swaps, the insurance policies that guaranty the payment of the bad loans that were made. This is why AIG had to be bailed out. Write, phone, or e-mail your congressmen (women) and require Oversight of the above companies. Find out which congresspeople supported the poor lending practices of Fannie and Freddie and vote them out. Make it loud and clear. |
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| Richard |
October 9th, 2008 2:21 pm ET I don't understand how Anderson Cooper is going to come up with a top 10 list for such a complex problem. Is he an economist? Most economist have their opinions on the causes. And most of us sort of know the causes. But economics is very complex and I'm not going to trust Anderson Cooper to play the blame game. This is reckless journalism. |
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| Rossemary Sandpoint, Idaho |
October 9th, 2008 2:21 pm ET Anderson Cooper, |
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| Ladont |
October 9th, 2008 2:21 pm ET Problem: We're going to need one really large prison. Solution: Afghanistan has lots of land that's not useful for much of anything and they need reconstruction funding. Build the prison there. Air Force can provide transportation. And, as far as I am concerned, Taliban can be hired ti guard these thieves. |
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| Karen |
October 9th, 2008 2:21 pm ET While I certainly appreciate the top 10 list, this seems to me like a slight of hand game – we'll all feel better that the 'bad guys' are publicly displayed, meanwhile nothing happens to them. What I want to see is a petition for us to sign that seizes their assets and puts them in jail. I want action, not words. |
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| RG North Carolina |
October 9th, 2008 2:22 pm ET These execs have committed financial treason against EVERY tax paying citizen of this country. They should be held accountable for their actions. Laws should protect the investor and action taken to regulate the perputrators of these financial CRIMESSSSSSSSS. And, I am appauled at the Treasury Dept. rescuing these idiots no brillant business men. Take their homes, bmw's, boats, seize their bank account here and abroad. SQUEEZE them NOW!!!!!!!! |
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| Kathy in Virginia |
October 9th, 2008 2:22 pm ET Don't forget to add that pompous Chris Dodd to your list! Many thanks, Anderson, for your efforts to identify these rotten apples. If the answer is "yes, that they will be held accountable, they will be removed from their positions and they will have to pay back their hoarded fortunes, stolen from me and my fellow citizens", then I think that will restore faith in the decent folks, which will, by nature, begin to restore America. Please keep doing what you are doing, Anderson. |
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| Omer |
October 9th, 2008 2:22 pm ET These are the kind of ppl the Feds should be going after. |
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| Nestor Lanas |
October 9th, 2008 2:22 pm ET I'm sure America would want to know who to look towards when they see thier life earnings fall and these guys are living high on the hog! I think they should be celebrities, with pictures so we can ask for autograhs. |
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| steve |
October 9th, 2008 2:22 pm ET Looking forward to seeing names. I hope you begin with the politicians who enabled and encouraged the fiasco. |
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| Mike Kelly |
October 9th, 2008 2:24 pm ET Help me reconcile these two news items: AIG hits up Fed for more money |
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| Jenny Rome Ga |
October 9th, 2008 2:25 pm ET Just ten? What tough choices there must have been. Maybe we can get part two later. |
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| Sander - NY |
October 9th, 2008 2:26 pm ET Obviously most are looking at this from the surface... The government with Fannie and Freddie created this problem. Wall Street is guilty of greed. Fannie and Freddie packaged these mortgages to create crap securities which they sprayed a little perfume on attracting investors to buy them. Dems with Fannie and Freddie have been bullying banks for a long time to give subprime mortgages so all Americans can owns homes. Problem is if you can't afford it then you can't afford it. Americans need to step up and admitt that most of us love to leave beyond our means using credit. Many people sit at home and say my plan didn't work out. If RE kept cleaning I'd be sitting pretty. Fannie & Dems pushes banks by telling them, give him the mortgage and we'll buy the mortgage from you. No money!!! |
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| scott |
October 9th, 2008 2:27 pm ET AC, I hope you name Fannie Mae and Freddy Mac exec's; after all they are to blame. They pressured banks to take risky loans. Harold Raines should be reigned in for this, he testifed before congress that these risky loans were "riskless."....alas, you won't mention his name because he is Obama's financial advisor and will have a seat in his cabinet. Also, Bill Clinton moved and pushed for these risky loans for "affordable housing" projects, regardless of history and ability to pay them off. Barney Frank andother Democratic Senators preached 4 years ago that there was not a crisis in waiting with these loans. They instead attacked the oversight committee for bringing Harold Raines fraudulant practices into question. Senator Baker (R) sounded the alarm regarding the cirsis that would hit. House and senate Republicans moved to avert the crisis. However, Anderson, you will not mention these things. I can show you on C-Span all of which I mentioned and legislation and executive order sisued by Clinton regarding what I have said. When did true journalism die?!!! |
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| Juliet |
October 9th, 2008 2:27 pm ET Thank you Anderson, I hope this will not only stay with some news, but more actions will be taken against these 10 and the other hundreds out there! |
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| Jaime |
October 9th, 2008 2:28 pm ET This should be titled...”WILD WILD WALL STREET. WANTED BY THE PEOPLE” BRAVO for your efforts and expose them all. America needs answers! All citizens are accountable for their actions. This “untouchable” boys club should be too. |
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| John |
October 9th, 2008 2:29 pm ET I hope you go after Paulson. He's the man responsible for running the economy and as a CEO he bilked his company to the tune of over 700 million dollars. I think and I don't know how its not front page news that he was AGAINST limiting CEO pay in the bailout. He also scared this country into rushing the bailout along; it directly helps his buddies WAY before it helps real Americans. |
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| X |
October 9th, 2008 2:30 pm ET All this populist crap about it being the fault of everyone who earned a good living before the collapse is nonsense. Who is to blame? Everyone who bought more house that they could afford. And everyone who defaulted on their loan. |
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| Lavella |
October 9th, 2008 2:30 pm ET In testimony before Congress regarding AIG sending some of its employees to the exclusive spa, I couldn't believe a man who was defending the action said, and I'm paraphrasing, 'in these difficult times it's important to give these particular employees some R & R so they won't become depressed and resign (quit).' I can't believe anyone has the nerve to offer that defense of the waste of some $440,000 or so. What about those who are REALLY facing the loss of their home or their job, or those who have already lost either or both!!!! Now that's cause for depression! I hope this reasoning is not allowed to slide by unnoticed and unchallenged! And now AIG wants billions more!!! |
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| FrankRizzo |
October 9th, 2008 2:31 pm ET CNN, Please try to include the very fact that Barney Frank and a sizable portion of democrats fought tooth & nail to prevent President Bush & Congress from oversight of Fanny Mae / Freddy Mac. Not once...but 4+ times since 2000. Thanks |
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| SR |
October 9th, 2008 2:31 pm ET We should not only penalize and bring CEO's of these instutution to justice. We should bring the whole top leadership and management team to justice. They don't get away taking millions of dollars of salary bonuses and perks! |
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| Niki |
October 9th, 2008 2:33 pm ET Thanks for letting us know this info. I am appalled!!! |
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| Jane |
October 9th, 2008 2:34 pm ET These Wall Street Wizards and professional politicians are nothing but high-class con men. Creating money out of thin air with fractional reserve banking, printing more money when it is convenient and selling insurance that doesn't pay out. They need to be prosecuted. And I'm tired of all the ear-marks, pork, etc. that gets tacked on to legislation. A bill should stand on it's own, without "sweeteners." Maybe a lot less taxpayer money would be spent if Congress had to agree that proposed spending would benefit the whole country. Congress needs to represent all their constituents, not just then ones that line their campaign coffers with cash. |
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| Joan |
October 9th, 2008 2:34 pm ET Thank you, Anderson, for pointing out perspectives and finding the truth about so many situations that we face every day. We would be in much worse shape if it were not for the media "keeping them honest." I'm not sure the American people realize this. Thanks again! I depend on you! |
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| Julie |
October 9th, 2008 2:35 pm ET Ten years ago, all these banks and mortgage companies paid millions in lawsuits and settlements, because they were routinely sued for discriminating against low-income people and families, particularly women and minorities. So they ease up on lending standards, and start giving loans to people who couldn't qualify for them or the amount. And what do you know, people defaulted. I agree that greedy lenders, CEOs and politicians share much of the blame for our current financial crisis, especially those that engaged in true predatory lending against the elderly or other easy targets. But for most people, it's their own fault they couldn't do the math to figure out Monthly Income – Monthly Bills and buy a home the could afford? It doesn't matter how greedy someone else is, I still don't put more on my credit card than I can afford to pay when that statement comes due. Don't come crying to me now because you lived beyond your means. |
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| HB |
October 9th, 2008 2:35 pm ET Will you be including the American People in the list. Nobody put a gun to greedy, speculative house buyers who could never in their right minds justify the types of mortgages that they took. Yes, the CEOs are a problem, but they were just serving up what the American People wanted – The American Dream, minus the hard work, sacrifice and saving. That's the bigger problem here, not the CEOs, They are just a reflection of what has gone wrong with the whole of American society. |
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| dagunn |
October 9th, 2008 2:35 pm ET How is it that our elected congress can bail these businesses out, but not hold them accountable for their actions? Everyone seems to busy taking presidential polls rather than asking their state congress officials to address why they are allowing the ougot going CEO's and their staff to leave with golden parachutes. And good to see that AIG used the first half million of the loan to take a luxury vacation for their sales staff. The presidential election should be the least of our concerns, getting a congress that isn't a batch of invertebrates should be. But keep on electing the same old politicians and wondering why nothing ever changes. |
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| Hale Simon |
October 9th, 2008 2:35 pm ET Anderson, |
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| Eric P. Chicago IL |
October 9th, 2008 2:35 pm ET The reason we are in this mess is because we are living in a culture that refuses to hold anyone accountable for their actions. If you are the CEO of a bank that is losing money, then you don't get a bonus. End of story. |
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| Simon Levy |
October 9th, 2008 2:35 pm ET Thank you, Anderson! We, the taxpayers and investors, have every right to know all the people who are responsible for this. After all, it's OUR money! Why is it corporate executives and boards of directors and members of Legislatures and Congress are allowed to give themselves outrageous paychecks, raises, bonuses, free health insurance, all manner of perks, WITHOUT us having anything to say about it? The corporations have taken over. If you, Anderson, and CNN and other good media people don't speak out for us, reveal the truth, hold people accountable, or give in under pressure, then there's not much hope left for any of us. |
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| Joe D Long Island N.Y> |
October 9th, 2008 2:36 pm ET Anderson ,You are right the CEO of the Companies that fail us should have their names & faces in the papers so we can show our children the people that has caused this great nation to crumble because of their greed. And maybe if people knew who they were they would be a little less greedy in the future. |
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| D - Atlanta |
October 9th, 2008 2:36 pm ET Kudos to you on a job well done putting these thieves on full blast. The American public has a right to know (and be able to recognize on sight), the low-life scum of the earth that felt it was okay to run their companies into the ground and then turn to Jane and John Q Public to bail them out. It has become crystal clear that no lessons have been learned. The AIG elite should not only have to return the money from their $400,000 + junket; but, they should also be fired and prosecuted to the fullest extent of the law. If we have to bail these idiots out, could we not have required that the entire management team of each company requesting financial assistance be fired before any bailout checks are handed over. Clearly the people currently in charge do not not have a clue. |
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| James, Mexico |
October 9th, 2008 2:36 pm ET Stop looking for ways to blame others and take some personal responsibility. If you are not living beyond your means then you should be able to survive the volatility in the financial markets. If you have been living off credit, then maybe you should tighten your belt and live within your means. Americans expect largers houses and cars than anyone else in the world, they consumer too much energy and have been negligent about recycling waste materials. Spend a moment thinking about those trying to survive in neighbouring countries like Haiti and be thankful for what you have. Stop complaining. |
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| Ike Raoul |
October 9th, 2008 2:36 pm ET One upon a time, Ayn Rand wrote a book about an idealized capitalism. Along came a young, impressionable Alan Greenspan who feel madly in love with her and picked up her book and held it to his chest and promised to see the dream fulfilled. The rest is history. |
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| Dennis, Tobyhanna PA |
October 9th, 2008 2:37 pm ET KAB is absolutely correct. There are many to blame including ourselves. Of course criminal acts should be prosecuted but we all must realize how we may have contributed to the current problem. Capitalist systems and societies at their very core are driven by 'greed'. I am not saying that this is either bad or good. But if you have a basic understanding of the system, you will be better prepared to participate in, react too, and protect yourself within that system. Obviously we have done a very poor job in educating ourselves in this regard. |
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| Mike |
October 9th, 2008 2:38 pm ET are you guys kidding me? so what, if YOU were ceo, if YOU had dedicated 100 hour work weeks your ENTIRE LIFE to a company and THEY decided to pay you a really high compensation, you would just decide to give it all back? because you feel bad for other people? give me a break. If you actually had the ability to get to those kind of high ranking positions, there is no way you'd be complaining about it right now. EVERY CEO in the nation gets paid orders of magnitude higher than the average american because of the free market.... a company values managment more than any other position because good management determines the value of your company. These guys messed up but we have no place telling them to give back their compensation. stop whining. |
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| Karen in Missouri |
October 9th, 2008 2:38 pm ET I could spend hours complaining about the top execs who have fleeced us of our money, but instead like to know how the little guy is going to survive. Who is bailing him out? What happens when dad and/or mom loose their jobs and there are none to be had? Who feeds the children, who provides a roof over their heads, who makes sure they have health insurance? Sure, some of us have made very "not smart" decisions regarding home mortgages, but as we all can see, the little guy is not walking away with millions in his pocket. Execs who have made "not smart" decisions are better off today than a week ago. Go figure!!! |
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| Rickey Rudy |
October 9th, 2008 2:39 pm ET Thank you Anderson for protecting and enlightening the American public. Criminal charges should be leveled at every person and company that has created the current state of our economy. Our "bail out plan" which I actually refer to as the GET OUT OF JAIL FREE card, is license to allow this to continue. Just look at AIG shoring up their own businesses rather than divesting themselves of their troubled assests. I want a REAL accounting of the number of troubled mortgages, the number of troubled securities. The amount of the bail out is way beyond the numbers of troubled assests. Credit default swaps or pure Las Vegas gambling at it's best (which is still continuing) should be deemed illegal and these too should be tracked so that these individuals (that I personally believe created this mess), can be prosecuted. We can track animals in the wild, we can't track what has occurred on Wall Street. If you want a true accounting of the money, you'll find the money was never really there. |
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| Michael M |
October 9th, 2008 2:41 pm ET It's about time someone had the guts to expose these crooks for precisely what they are – thank you, Anderson. Why are the millions of us who play by the rules, pay our taxes, care for our children, and bust our butts to try to earn and honest wage being put on the line for this bailout? Why do WE have to pay for any of this? Seems to me that the government should seize all of the assets and personal property of the crooked CEOs who put our country into this tailspin. They should be milked for every penny before touching one dime of U.S. taxpayer money. We the people demand justice and accountability – but we're not going to get it, because those qualities have been AWOL during these last eight years of failed leadership, and will continue to be AWOL throughout this entire fiasco. This country used to stand for goodness and decency. It clearly doesn't anymore. |
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| Jeff, Kansas City |
October 9th, 2008 2:41 pm ET The 10 most wanted culprits of the collapse????? Take a look in the mirror as "the enemy is us". It's amazing to me that in the world's greatest society we quickly look for others to blame and for a handout (bailout) when we get ourselves into trouble. What ever happened to personal responsibilty in this country? We (citizen's, politicians, CEO's, etc.) are all guilty of the crime. Our desire to "appear" wealthy by living in Mcansions and driving fancy cars has resulted in the mother of all financial hangovers. Greed and corruption throughout a society usually mean it is nearing an end. Clearly, America has lost its way. |
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| Fauzi |
October 9th, 2008 2:41 pm ET Bravo you Anderson!. |
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| Mark W. Rommel |
October 9th, 2008 2:41 pm ET Anderson, I want to say "thank you" to you and your staff for doing this. The American people deserve to know the names of those CEO's, Board Members and numerous Corporate Executives MOST responsible for the damage done to this country and it's people. We have all been taught we are responsible for our actions; we are accountable for what we do; responsible choices and hard work earn reward. Yet we seem to find ourselves in a time when the AIG Exec's and other corporate fat-cats in our culture live in a way that clearly shows they feel no responsibilty to anyone but themselves; greed is the only guiding principle and "I've got to have the most and to hell with you!" the only religion. This is wrong and they know it. These corporate criminals should be prosecuted, not rewarded with obscene amounts of money; amounts of money most of us could never accumulate in multiple lifetimes, let alone a year or perhaps even weeks. Hunt these criminals down like the parasites they are, confiscate everything they've acquired with what they have stolen from us and prosecute, prosecute, prosecute. Make them pay for their crimes. |
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| Chris, WI |
October 9th, 2008 2:42 pm ET Ah, the average joes are ready to hang people in the public square for thier financial pain. What a joke. You want a real list hear you go: My point is that my above list has the goverment, companies and the consumer at fault. This is a situation that most americans created collectively. |
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| Mulhollan |
October 9th, 2008 2:42 pm ET So as a hard working teacher in Texas, I just wanted to know when I too can go on a 400,000 dollar spa vaction and my government pay for it? |
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| DJN of Columbus NJ |
October 9th, 2008 2:42 pm ET It is the fault of the whole America, whether they're politicians, CEO's or a typical guy on the street, though the degree of fault will vary.. We tried to embrace something that our both hands can even meet both ends. Maybe this is a lesson to all of us that we need to change our perception on everything that we try to do, |
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| denise |
October 9th, 2008 2:42 pm ET I agree that part of the blame goes to mortgage companies that gave loans to people that didn't qualify, but the investment houses on Wall Street were telling the mortgage companies to make more loans. The "bundled" mortgages were a very hot product, and as demand for those went up, so did the number of loans made to make up those securities. To meet the demands of the investment houses, mortgage companies had to "relax" their qualifications so that more people could buy houses. So, all in all, it was the investors that bought into the bundled mortgages "securites" that started this mess. It's not fair to entirely blame the mortgage companies, as they were trying to keep up with demand from Wall Street. |
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| Andy from WI |
October 9th, 2008 2:43 pm ET Who isn't responsible? It is very gratifying to blame wealthy CEO's for this mess. They get paraded in front of congressional committees and the news networks for tough questioning, which is great for politics and great for ratings, but they did not act alone. When are individuals going to be held accountable? All the name calling and negative descriptions of CEO's could just as easily be aplied to the individuals who took out loans they could not afford. They too are greedy cowards. We have become a nation of individuals that expect something for nothing. Everyone is entitled to go to college. Everyone is entitled to own a home. Everyone is entitled to supersize thier value meal with a withdrawl from their HELOC. When this mess started, John McCain stated that individuals should be held accountable for their poor decisions. The media juxtaposed this opinion with the Democrats "blame it on big business" rally cry, which is much more attractive to the average voter. As a result, McCains position has became polically incorrect. PLEASE include "The Individual" as one of the top 10 to blame for this mess. While you are at it, why don't you interview some of these loosers and question them with the same vigor you would use to question the CEO of AIG? They are just as much to blame as any Wall Street CEO. |
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| Joey |
October 9th, 2008 2:43 pm ET This is good it is about time to hold some of these people accountable. I hope to see some elected officials on this list, the only bad thing is the people that got us into this mess are going to try to get us out, the government. They need to realize they are not going to be able to solve this crisis by throughing a bunch of money at it. Good old Henry Paulson is looking at the government buying shares in big banks now, does anyone see another Fannie Mae and Freddie Mac coming with the government mixing politics with business? |
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| KSC Denver |
October 9th, 2008 2:44 pm ET This is great CNN! Thank you! Thank you! Thank you! We need to know who these crooks are! Too bad you can't give us their home addresses and phone numbers, or even just their email addresses, then the American people can let them know personally just what we think of them. Show their photos, let us know their names, shame them so they can't even walk down the street. Take away their bank accounts, their homes and pensions like they have done to the American worker. It use to be crooks who took people's money were tar and feathered and run out of town. Can't we do that again? They need to go to jail or better yet, send them to Iraq and see if they their golden parachutes will help them there. |
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| Jane |
October 9th, 2008 2:46 pm ET Let's see if our lawmakers and "Justice Dept" really go after the free market Pantheon of Wall Street Gods. I'll be very surprised, after all these people are the role models of the up and coming MBAs in our country, and in many cases, exactly what they aspire to!! Be careful what you wish for! One thing we can start doing is buying American products and get our people back to work to prop up our Treasury which is being plundered and given away. As more of our car plants and factories close, think of all the federal tax and SS money that just disappears folks. Millions - which we so sorely need now. |
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| Jose, Connecticut |
October 9th, 2008 2:47 pm ET It looks more like the 100 Most Wanted, not just 10. I want them ALL! |
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| Michael F. |
October 9th, 2008 2:48 pm ET One word GREED! |
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| Kant |
October 9th, 2008 2:49 pm ET Anderson, Millions and perhaps billions of people around the world are hurting financially, most of them due to no fault of their own! Forget the folks who got houses and mortgages they could not afford. What about the regular folks, who played by the book and now see their 401Ks shrink horribly? Shouldn't someone pay for this? Shouldn't we arrest all those Wall Street gamblers, CDS players, Hedge fund CEOs etc. and confiscate their ill-gotten fortunes and distribute them to the needy? Mark my words. Nothing will happen to these people! They will retire in luxury to their mega mansions, while many children will go hungry and shiver in the cold because their parents will have no money to heat their homes. Many retirees will suffer. Where is justice and fairness in our society? Where do we go to get it? |
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| peter |
October 9th, 2008 2:49 pm ET why aren't they seizing their money and assets and use to the BAILOUT , I don't care what those idiots in the congress and senate call it–its a bailout–on the people who put them in there |
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| Mike Houlihan |
October 9th, 2008 2:50 pm ET Great Job Anderson.:)) |
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| Mary Ann Watt |
October 9th, 2008 2:51 pm ET Thank you. I have been asking to hear who did it, why they did it and who continues to allow it. All I gathered from the "Bailout" was enabling the disaster to continue 'just a little longer'. It is time for accountability and honesty. I am not one that lived beyond my means, never tried to keep up with anybody and tried to do the right thing and now I see what little I saved for the future slipping away. |
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| Martina Ilstad Germany |
October 9th, 2008 2:52 pm ET Hey Anderson |
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| JMR |
October 9th, 2008 2:52 pm ET Bravo! Let’s start at the top; what about the fiduciary responsibilities of the board of directors all the way down to the finance/ audit group who were aware of the disparities in the business model . What about the accounting firms who were responsible for the audits? What about the internal risk management group? Analysts? Let's get all of them to be accountable. |
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| DM |
October 9th, 2008 2:57 pm ET i think that since the government wont do anything to stop these crooks then we the people should stand up and not take it anymore. I believe in justice and these people getting away with this kind of money and causeing this much turmoil to us should NOT get away with it at all. |
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| Robert |
October 9th, 2008 2:57 pm ET I hope #1 will be the American People. Always ready to blame someone else for problems they bring upon themselves. Living outside their means. 50 years ago, we were much more a cash based society, now everyone must have it now, they must have their cell phones, new cars kids and their Ipods, college education at an out of state school. Let's put it simply if people lived within their means, we wouldn't be in this situation. Yes CEO's should be held accountable, but this isn't new and only in the US, for hundreds of years there are those that will be in that .01% who "make too much" for us to comprehend. I don't see the movie and music stars offering anything, but commentary well happily living off our spending. Yes more regulation could help, could have helped, but when did we become so reliant on others, including the government to save us. |
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| RRR |
October 9th, 2008 2:59 pm ET The culprits of the collapse might total more, but I have so far 542. We out number them we can take our Country back. |
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| L. W. Pearson |
October 9th, 2008 2:59 pm ET At this stage, it is like shooting fish in a barrel to point at Wall Street. Certainly executives there have not exercised due diligence in understanding the risks in the financial instruments that we own. It is easy to say "hang them all" or "let them all fail." However, we need the *functions* that these companies fulfill, and we cannot simply dismiss them now. |
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| suki |
October 9th, 2008 3:00 pm ET I think this important to make the American public aware of who has cheated them – however wouldn't it be nice if these people could be put in jail |
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| Jana |
October 9th, 2008 3:05 pm ET Keep this up Anderson. We as Americans need to make sure these guys are brought to task for what they have done. |
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| Sowmya |
October 9th, 2008 3:08 pm ET I think its wonderful that you are investigating and exposing the people who are responsible for the crisis. Yesterday I heard on AC360 that AIG after all the crisis sent millions of $$ in spa treatments. I mean comeon... thats outrageous to even think about such luxurious treatments. Can they not think about millions of people retiring now have no money they actually saved over the years? And AIG is asking for money why ? Not only should these people be exposed they should be sent to prison for not be accountable!! Thanks Anderson I love your show and watch it everyday! |
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| lpfoong, Malaysia |
October 9th, 2008 3:10 pm ET Good for you! Pin them down. Point those fingers and hold them accountable. Enough is enough. |
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| Andrew |
October 9th, 2008 3:11 pm ET #1 by a long distance is the idiot homebuyers that signed their names stating that they will pay their mortgage. Without them we have no issues. To many of "us" don't have the ability to hold up our end of the deal and now the country has to pay. Those people are also the first to point the finger saying it wasn't their fault. Grow up Americans the world doesn't have to bow down to you. Your not intitled to everything. PAY YOUR BILLS! |
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| Julie D |
October 9th, 2008 3:12 pm ET I want these people held accountable. They have tampered with the future of every American in this country including their own families and friends. They are unconscienable individuals and short of facing a firing squad, should be prosecuted to the fullest extent of the law either in criminal or civil court. I demand to know who is going to take action against the recent scandal with the AIG Exec's going on a Junkett that will cost the American Tax Payers 400k? Seriously folks, if the government doesn't start doing their jobs we, as American people, need to do something to take a stand and demand change. Otherwise, we may as well just stand in the middle of the street and wait for the bus..... |
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| Jennifer |
October 9th, 2008 3:12 pm ET It will be interesting to see who's name is added to the list. And I agree with all of you who are bitter about this entire mess, I'm right there with you! I think it would be great if the #10 spot was the "American people". We are no longer a nation who lives within our means, but rather a nation who lives within our credit limit and then pushed a little farther. I applaud AC360 for actually getting to the truth, but they can only do a part of it. It is the responsibility of all of us to then grab hold of the courage that they are showing and demand change and accountability! And we need to make sure that CNN will not have to suffer the consequences, for this positive action, alone. Whenever anyone decides to go against the status quo they are the ones who actually pay for it and not the wrongdoers. |
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| Sam |
October 9th, 2008 3:12 pm ET We have a truly broken system. In the last few years, the productivity of the American Worker has gone up, while their pay has gone down. On the other hand, the rate of pay raises that the executives have gotten has become harder to even keep track of. This is pure extortion and while all this happened, our government has just kept quiet since they are getting their share of the cut in the form of Political Contribution. What has this led to? We Americans are one of the least travelled people compared to our first world counterparts. This has made us struggling to even make ends meet; forget about being able to send out kids to college. This means that the coming of age Americans will only be able to qualify for low skilled jobs and the high skilled jobs go abroad. The ripple affect of this is that there is going to be more competition for low skilled jobs driving down the pay scale even more. We think it is tough that people have to compete with Illegal Aliens for low skilled jobs. Wait until we have to fight amongst ourselves for these jobs. These greedy people who are making billions from PUBLICLY traded companies are treating these companies as their daddy's companies at the expense of hard working Americans and at the expense of our country. There has to be a ratio based pay structure where the highest paid executive cannot make so many more times than the lowest paid employee. This is the only way we all get our fair share of our hard work. The company that I worked for last, the CEO makes 18 million a year. More than I will make in a lifetime. But hey, I would not complain if I was making 1/10th of it. But what aggravates me is that he made that much while he increased my healthcare premiums and deductibles and cut my bonus. We do not need a highly paid CEO to do this. A high school dropout can run a company of this type. The top one in my list of the Ten Most wanted? The Politician who give these greedy rascals a free ride while the people who voted for them go broke. Hope they know that soon people will be so tired of them that they will start their own lobbying "company" on the internet and when they start setting up the rules and voting them out of the office if they do not perform, they might find themselves working a lot harder and the executives might not finding themselves doing the same for a lot less money. |
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| Terry in Florida |
October 9th, 2008 3:14 pm ET Outstanding work Anderson. These names, pictures and information should be retained on your website. They should never be forgotten. |
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| Mike DelGenio |
October 9th, 2008 3:17 pm ET Anderson, Mike D. Akron, OH |
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| Donna, Ft. Lauderdale, FL |
October 9th, 2008 3:18 pm ET Anderson, I didn't think there was anyone left who cares about what is happening to the average citizen. It's nice to know I was wrong and there is one person left. Thank you for taking this on. |
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| Suchi, Minneapolis, MN |
October 9th, 2008 3:19 pm ET Anderson & crew – Kudos to you guys for doing this!!!!!!!!! IT'S ABOUT TIME! But I don't think it's enough to just know WHO these folks are! We need to know WHAT will be done to make sure it doesn't happen again and that they are held accountable for their actions. It's not their money to begin with. Not only should they be sentenced to life imprisonment, but they should be fined large sums of money. That money should be distributed among the employees who lost their jobs and small investors who actually deserve it! |
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| mass |
October 9th, 2008 3:23 pm ET America wants answers! America wants NAMES! AMERICA WANTS JUSTICE! |
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| melissa deal |
October 9th, 2008 3:24 pm ET I can't believe that these crooks are having spa getaways, when i haven't been able to get my hair done in 5 years! My children come first and i come second, why didn't they give the money to the tax payers we would have surely spent the money more wisely, WAKE-UP AMERICA |
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| ANNE,Newfoundland Canada |
October 9th, 2008 3:24 pm ET Anderson: I am glad your program is naming names,and getting to the bottom of it all..... they need to be held accountable,and for those of them,who like the AIG folks who went to the spa on American taxpayers' money,well,in my opinion they should have to pay it ALL back,be dismissed,AND investigated. I guess in politicians minds,there is NO RIGHT TIME to point fingers and assign blame,not when it comes to each other. You only have to look back at Hurricane Katrina,as you mentioned,to see that clearly. The average Joe in America is the one who needs help,NOT the fat cats of Wall Street..... what do ANY of these bigshots know about making ends meet,living paycheck to paycheck,losing their homes,or being unable to pay your bills each month? They are out of touch.......and do not care..... they are looking for their big payoffs and big bonuses..... I cannot wait to see who is on your most wanted list.Let's hope something can be done with them legally. Take care,Anderson. |
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| Laure |
October 9th, 2008 3:25 pm ET Dear Anderson- Thank you, thank you. You are the one who has the power of the media and can speak our minds. We-the people-seem to have been forgotten and certainly no one in this Administration or on Wall Street can truly appreciate our pain. If I were you, I wouldn't stop at 10 names-I would keep on going until every last one of them has been outted and has been forced to through some of their precious money at this huge problem. It's good to know that someone out there is listening to the average American! |
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| Pamela Wilkerson |
October 9th, 2008 3:25 pm ET Anderson – I applaud you for exposing the greed & corruption at the CEO level. It seems that greed has no boundaries. These people need to be forced to pay back the millions & then be jailed. Trouble is – they will surely know how to avoid the punishment they deserve & walk away unscathed. I sincerely hope not! No matter – keep trying to uncover the truth. Your work is greatly appreciated. |
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| David Gerstenfeld |
October 9th, 2008 3:26 pm ET A great first step would be to fire everyone from AIG who was at the Ca. resort after the bailout plan for AIG was announced & bill them for all monies paid for by AIG. By the way, a good percentage of my meeger retirement money is with AIG. |
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| EJ (USA) |
October 9th, 2008 3:31 pm ET Anderson – that was an interesting segment last night. I also did like the tie. Not as much as the silver and blue and silver/blue ones – but it was a nice tie. I think if the little boxes were solid silver, it would've looked better – but that's just my opinion. |
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| Francisco Los Angeles CA |
October 9th, 2008 3:33 pm ET Everytime we allow greed to go uncurved ("regulated"); everytime YET ANOTHER (this is not the first) Wall Street greed scandal AWAKENS Americans to the fragility of their "dream"; those around the world that have modeled themselves to us must fight even bigger opposition. I don't see China suffering through an economic crisis – maybe they provide a better model for the developing world? |
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| Alexander, Portland OR |
October 9th, 2008 3:35 pm ET I think that "You and I" should head the 10 most wanted list. The American Public is guilty on at least 3 counts: 1) Electing politicians in the executive and legislative branches for reasons of popularity, not substantive issues, and for telling us what we want to hear, rather than what we need to hear. 2) Pursuing consumption for consumption's sake. No other nation is as full of over-eaters, gas-guzzlers, and brand-addicts. Like any other junkie, there are plenty of pushers out there who are willing to feed our habit. 3) Spending, spending, never saving for a rainy day. If We the People don't practice our own financial common sense, how can we expect our government to do the same. |
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| Papasan in Arizona |
October 9th, 2008 3:37 pm ET It should be 100 most wanted... With John McCain at the Top! |
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| sally, san diego ca |
October 9th, 2008 3:38 pm ET Whoever is responsible needs to be put on trial for crimes against humanity. I know that sounds silly but think about the implications in regards to poverty and the accompanying wars. Things are going to get very mean, the next twenty years are not going to be very nice at all. |
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| Roy B |
October 9th, 2008 3:38 pm ET Well, if these CEO's are above the law of the United States and the House members and the Senate are too weak to make them pay for their stealing from the American tax payer; here is a simple plan. Vote all the incumbents out of office regardless of party affiliation and vote in people who will stand up to this Wall Street mafia. It is an election year the last time I looked with another one around the corner. |
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| Deb Mahon |
October 9th, 2008 3:39 pm ET Why were additional dollars added to the AIG bailout after knowing the esxecutives spent nearly a half a million to entertain themselves following the first bailout dollars were received? It is a discrace and some needs to be held accountable |
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| NYbywayofTexas |
October 9th, 2008 3:40 pm ET It is very easy to point fingers, however, this is the problem of this present administration. DERGULATION and we allowed it to happen. Government was created by the PEOPLE for the PEOPLE. If we were, as a unit, holding our elected officials accountable, we would not be in this mess in the first place. Yes, I agree there were some key players who raped the American public and they should be brought to justice. However, we must own up to our lack of responsibility of holding Washington accountable. We have idolized the politicians and made them celebrities and forgot they works for us. We so easily trusted in our Government to take care of us and we should. But, we have to hold them accountable. Percentage wise, how many of us have contacted our congress-person or Representative? How many of us know who our elected officials are?! Yes, we were mislead, but we were also irresponsible. Yes. Bring those who abused the system to justice and also determine in yourself to never let this happen again by becoming involved and encouraging your neighbor to do the same. |
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| celeste Smeland |
October 9th, 2008 3:41 pm ET Hello Anderson: How about investigating the $15 million golden parachute to AIG Chief Martin Sullivan approved by the AIG Board in March – is he still going to get this? And looks like Congress is approving more bailout bucks to AIG. This is insane. Respectfully, |
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| Greg |
October 9th, 2008 3:42 pm ET Reality check.... while calling out the top 10 CEOs most responsible for this mess makes for good TV ratings, there is very little that can be done to hold them accountable. A few days of discomfort won't drain their enormous bank accounts and redistribute their money to those who need it more. As the Republicans like to say, we live in a free market society....which propagates the notion that a few individuals can make obscene fortunes so long as they stay marginally within the law, are well connected, and if someone is willing (or foolish enough) to pay them. There is no recourse. |
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| Bob, Fleming Island, FL |
October 9th, 2008 3:42 pm ET Let's put their names and faces on a deck of playing cards named "America's Most Wanted Wall Street Tycoons". The question is who will be the "Ace of Spades"?? We need to make sure the cards are distributed to casinos and resorts around the world! |
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| LDH |
October 9th, 2008 3:42 pm ET CNN you are just as responsible as the the culprits! You are bought out by the elite and your information is controlled. Start seeking the truth!! And ,give us the truth! Start with yourselves! Stop passifying the public with partial information and controlled news!! You do not get a pat on your back from me. Honest reporting is long overdue!! It is expected. That is what you are supposed to do. It is a financial tsunami! Paulson and his buddies are greedy crooks and should go to jail for selling out the US. Also, Bush and Cheney should go to jail! They lied about Weapons of Mass Destruction in Iraq.......and they continue to lie and cheat the Americans. Next, the wimpy Congress need to go to jail for buckling under the pressure of Paulson. The Congress who voted for the bailout all need to go to jail for not representing their constituents which is why they were elected by the people. Also, blaming the American people for buying homes is just bull. If BIll Clinton, with his promises for supporting NAFTA, would not have given away the farm and outsourced the American jobs then the people would have a job and could pay their mortgages. We simply do not have a 2 party system. Both parties are corrupt and neither get my vote this year! We need to start a 3rd party and end all this corruption at the top. LDH |
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| Joe |
October 9th, 2008 3:43 pm ET This is great as long as one of the "culprits" is us, the American people. Did we really need to take out 110% of the (inflated) values of our homes in home equity lines to pay for that vacation in Florida? Did we really need a 5 bedroom/4 bathroom house for our families of 4? Should we really have bought that house with 5% down and a huge mortgage payment instead of continuing to rent? The complexity of financial instruments designed in the last decade and the immense leverage applied to these instruments is a huge part of the problem, but the bad behavior of the American people is what made it all possible. But I would be shocked if either politicians or CNN say this because it is better for ratings/election results not to blame us for our own bad behavior. |
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| Greg |
October 9th, 2008 3:44 pm ET These CEOs have robbed millions of Americans for their greed. These people should be in jail and forced to give back all that money they stole from the American public. This is devestating and the Bush administation should be held accountable. Disgusting!!! |
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| Paris Clark Louisville, Mississippi |
October 9th, 2008 3:45 pm ET Why do we have the government officials that we do? They probably blew some of the money that was passed to help them out...and now they are asking for more?! My U.S. History teacher said to us that AIG wasted some of their bailout money on a big vacation. What is wrong with these people today? They should be convicted. |
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| dh |
October 9th, 2008 3:46 pm ET I admire you for revealing who they are. Lets not kid ourselves. NOTHING will happen to any of them short of possible embaressment. Tomorrow will be onward and upward for them. When is the last time you or anyone else saw someone in power held responsible for their actions? I wish I could think of just ONE time. Good try. |
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| John Disario,Boston,Ma |
October 9th, 2008 3:46 pm ET How long has this country been talking about health care for its people |
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| Joseph Morris |
October 9th, 2008 3:46 pm ET We have met the enemy and they are us. Who is to blame? Everyone involved. The financial wizards who looked to eliminate risk and still get high returns; the government who turned a blind eye to all of this as it was developing; the homeowner who looked to turn a quick buck by buying and flipping houses; the wall street sages who refused to look at history and not learn from it; and the American people as a whole for buying into a philosophy based on greed and living beyond their means. |
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| ROY CONTILIANO |
October 9th, 2008 3:48 pm ET It's really irrelevant right now just to blame whoever it is without having some restitution for their greed. |
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| Dave |
October 9th, 2008 3:50 pm ET In no particular order... 1) Greenspan Investment banks were partially to blame but they were not the root of the problem, they simply tried to capitalize on the situation. |
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| A note from New Jersey |
October 9th, 2008 3:50 pm ET The worst part of all of this is that it was foreseeable, avoidable, and fixable at the time but was allowed to fester like an open wound. This didn't happen overnight and nor will it be fixed overnight, pumping billions into a system to avoid utter systemic collapse is like putting a band aid on a much larger issue. The debt is not just in the housing market, its everywhere. There is something seriously wrong when CEOs and other executives of major coorporations and financial institutions skip away with millions in "bonuses" while countless of us middle class workers and financially responsible Americans wonder if we'll even see a bonus or merit increase, that helps feed our families, keep a roof over our head, and survive yearly cost of living increases. It is nice to know who the ones are that sat at the sidelines and did nothing save to spew false words of assurance. Thank you Cooper Anderson and CNN. |
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| David, Chicago, IL |
October 9th, 2008 3:50 pm ET If this was a real investigation, 360 would list their names and faces, now. Not string it out for the next week and a half to keep readership up for that period. This is just the news business folks, not a real investigation. And, no, no one will find anyone currently in power culpable. That's not the way it works, otherwise Cheney and a bunch of others would be in jail, now. |
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| Adrienne |
October 9th, 2008 3:50 pm ET Thanks so much for exposing the 10 most wanted! This a a tragedy for all of us. How about asking these men and women to give back some the other outrageous amounts of money they received as compensation. What a novel idea!! I'd love to see you interview one or two of these CEO's. |
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| Ray |
October 9th, 2008 3:51 pm ET You have to begin with: |
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| Edith Ann |
October 9th, 2008 3:51 pm ET Gary Johnson has a good idea! I second that motion and would like to add Congressman into that! |
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| Rajesh |
October 9th, 2008 3:51 pm ET Great Job Anderson! I am really glad that CNN is playing the role of a responsible media here. |
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| Steve Holland |
October 9th, 2008 3:52 pm ET I wonder if CNN will point out the press hasn't reported anything about this in the past. Lots of people are saying this has been a problem a long time in the making. How does the press miss these stories? |
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| joe |
October 9th, 2008 3:53 pm ET All this bickering about responsibilty isnt going to get anyone anywhere. Time should be better spent on a solution at this point. If a solution is found, then go back and prosecute the greedy people that caused the financial crisis. |
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| Abdul |
October 9th, 2008 3:53 pm ET Blaming CEOs is not the solution either. Has anyone looked at the regulatory body esatblished before I was born to look in to Derivatives and derivative backed securities; which are something new? " the fault dear brutus is not in our stars, but in ourselves" So we the Americans will get this over with and come out clean. We too should share the blame, when we spend more than we can afford to spend. I dont think Fuldman offered ppl to take 2nd mortgages so they can drive BMWs. At the end the decision to sign on the dotted line is individuals... this is not college nor is someone passing a joint and putting peer pressure. |
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| jcalland |
October 9th, 2008 3:54 pm ET only 10??? |
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| Donna |
October 9th, 2008 3:56 pm ET Anderson, Thank You! I thank you for having the courage to cast light on those that should be criminally prosecuted if not, booted out of the business. |
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| henry massie |
October 9th, 2008 3:56 pm ET go get 'em. don't let anybody off the hook. |
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| Terra Hoskins |
October 9th, 2008 3:56 pm ET Thanks, Anderson, for asking tough questions and pressing the point about accountability. But I hope the coverage doesn't end with just 10 people who played a part in this. What about the rise in personal bankruptcies? People are angry, so they are looking for someone to blame. But...isn't it short sighted to think you can overcharge a credit card or buy a house you can't afford without consequence? Of course credit card companies and mortgage companies (or whoever lends money for houses) want me to overextend, but does that mean I have to? No one held a gun to my head and made me charge $2,000 on shoes I wouldn't be able to pay off. This situation makes the people who have lived with their noses clean, so to speak, even more angry. Because why should the guys who lived by the rules have to take responsibility for the jerk who can't balance his checkbook? The leaders of these companies should be held accountable, but someone should have the guts to tell the American people they aren't innocent either. Everyone should take responsibility for their actions. |
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| Tammy, Berwick, LA |
October 9th, 2008 3:57 pm ET Hey Anderson, Great start. While you're at it, you might want to hold a certain Democratic presidential candidate who received perks from Fannie and Freddie accountable. Am I the only one who sees the hypocrisy here? Furthermore, when a CEO makes millions while putting the proverbial screws to the little guy and a public school teacher can qualify for food stamps while impacting kids positively on a daily basis, something is seriously wrong with the national priorities. Someone (or lots of someones in this case) need to 'fess up, regardless of who they are, who they know, or what they do. If you're going to tell the truth on these guys, please make sure it's the whole truth. America deserves that much considering the money we will be putting up in order to clean their messes. Thanks for getting back to real journalism, BTW. The presidential mudsling and whine fest was really getting old. |
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| willie |
October 9th, 2008 3:58 pm ET What ever happened to investigative reporting? The signs for this were everywhere–people getting rich for doing nothing, or acting as though they were, without establishing what used to be real credit. |
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| Kathy D. |
October 9th, 2008 3:58 pm ET As the rate of inflation continued to grow, prices on everything from diapers, formula, groceries, utilities, houses, cars – continued to go up – yet the average american's take home pay did not come any where near meeting the needs of the people. However, when the CEO's salaries, bonuses, trips, and all the other business perks and benefits accumulated rapidly – did not anyone see America downspiraling? Lehman Brothers, AIG . . . government bailed them out and they personally walk away with millions in their own pockets while the average american loses their job and their home. Can't afford to pay for the mortgage? Why? Because they lost their job or their salary did not meet their needs. Greed is really getting out of hand. It is about time their faces were put on the most wanted list! How will THEY personally pay back to the Americans what is due them? |
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| LibIndiana |
October 9th, 2008 3:58 pm ET Phil Gramm, the cosponsor of the Commodity Futures Modernization Act of 2000, better be numero uno on this list. |
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| Michael |
October 9th, 2008 3:58 pm ET My grandfather once told me, "If you can't pay cash for it you don't need it so don't buy it." How did something so simple get so complicated. That generation had the true grit that has been lost in the more recent me/must have now generation and I do not see it getting better regardless of any bailout or Presidential candidate. We as Americans are living in a modern day Roman empire on the verge of collapse. |
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| Zach B |
October 9th, 2008 3:59 pm ET I think this is a witchhunt. There are many responsible, not just the CEOs of these companies. The lending institutions were simply operating in a market which was created by artificially deflating interest rates. Our goverment is equally responsible for not regulating the market enough which created this situation. |
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| Diane, LA CA |
October 9th, 2008 4:00 pm ET Anderson: Good job..we should know who these people are and follow up on what (if anything) will happen to them. i.e. give back some of their bonus money, etc. I work in the real estate industry and we are waiting for yet another shoe to drop over the next couple of years. Large numbers of folks with good jobs, credit etc. jumped on the band wagon and took out ARM's on their homes. We still have a couple of years to go with these ARM's resetting with much higher interest rates...and many of these folks have seen their home loose consderable value...there is a concern that many folks may choose or have to walk away from their home mortgage....deepening our housing crisis. Unfortunately, lots of folks used the equity in their home like an "ATM" machine over the past few years...believing they could always refinance in a few years and believing their property would continue to go up in value...."No problem", wrong now!! Many of these went Alt A paper, stated income and guess what, some might have inflated their income and with no regulation over underwriting folks received their loans...now it's a big MESS! |
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| Marvin Mesquite, TX |
October 9th, 2008 4:02 pm ET I would hope that Barney Frank, Chris Dodd, and other democratic members of the finance committee from both houses are on the list. |
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| Tara |
October 9th, 2008 4:02 pm ET Thank you...I've been waiting for someone to explain a little better how we got in this mess (as far as I can see it was knowingly issuing dodgy mortgages knowing that one could take the profit and pass the empty paper on to others). Now what can be done to get at least some of the guilty parties (persons and companies) to bear the costs? |
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| Wayne |
October 9th, 2008 4:03 pm ET Yes indeed our Country is going through quite a crisis, however the Media has much to take responsibilty for the emotional aspect of all this. Panic and Fear has been driven by Cable News and the perpetual reporting and reporters and so called analysts. There is one word that can define all of it, GREED! Oh, Stupidity too! |
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| Michael D. Houst |
October 9th, 2008 4:03 pm ET Ross Perot didn't make it through the primaries. Ron Paul didn't make it through the primaries. Both would have made better presidents than the ones we had, currently have, and will have at the end of this election. Americans are dirt stupid. They elect people based on a popularity contest, and not on whether they can or will do what really needs to be done. |
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| Dennis Grabowy |
October 9th, 2008 4:04 pm ET I agree with Gary Johnson's suggestion. Until these greedy individuals are made accountable, and I mean really hit home accountable, this will not be the last time we will see this happen. Unfortunately, no matter what party is in office, Congress and the Senate will not have enough guts to pass such legislation. |
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| Holly |
October 9th, 2008 4:04 pm ET Anderson Cooper YOU ROCK! I'm so worried for my children (ages 10 & 12) What we do not has such an impact on them. We have to make those greedy bastards accountable! |
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| J. Clarke |
October 9th, 2008 4:04 pm ET The $700B bank bailout, $112B AIG bailout and the oil company profits represent the greatest transfer of wealth this country has ever experienced. The people of this once great nation are wholly to blame. The few who vote continually elect and re-elect the same people with out taking the time to look at their records. We hold actors, actresses, rock stars and athletes in hirer regard than the people that protect us and educate our children. Our priorities are completely out of whack as is our moral and ethical compass. There is nothing wrong with this economy that lower gas prices and more disposable income want fix. The economy is broke, the people are. Thank you Congress, Big Oil, The Banking System. |
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| Jill |
October 9th, 2008 4:04 pm ET Be sure to go after big law firms in collusion with their financial clients, and big law firms billing those clients for legal tasks never performed. Such law firms need to be investigated, as they also benefited prior to the collapse. |
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| Enough is Enough |
October 9th, 2008 4:04 pm ET I am glad someone is naming these crooks BUT why are you spreading this list of names over two weeks? This is not a time for ratings! This is serious. Just name these crooks on your show as the "ten most wanted" immediately... but then what happens? Will they ever be charged? Will they be prosecuted? Will they serve time in a real prison? I doubt it. They have all had their shredding parties and have made sure all their money is safely hidden for their golden years. They are laughing all the way to their banks. |
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| Fred Schmidt |
October 9th, 2008 4:05 pm ET Oh yes, and one more thing: I am having a really really hard time TRUSTING the $700-biilion-plus bailout/rescue plan (whatever you want to call it) put forth by Treasury Secretary Henry Paulson - the former $40-miilion-A-YEAR-earning CEO of Goldman Sachs, Wall Street's "most prestigious" investment banking firm. How about you??? |
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| Vin Gins |
October 9th, 2008 4:05 pm ET So where exactly has all this money (stock values) gone? Does it just magically disappear? Certainly someone must be benefiting from this "redistribution of wealth". |
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| Jim63135 |
October 9th, 2008 4:05 pm ET It's not only important to know who they are but where they came from. In my review of some prospects, including Paulson, is Harvard University. From what I understand the math formula for swaps was designed by Harvard graduates, circumvented insurance oversight(from the net capital rule to credit default swaps) by Harvard grads, and the main financial and government employees involved in this mess were from Harvard. Maybe Harvard should have a warning sign on their admission form, and order a four year requirement of Ethics. |
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| GW |
October 9th, 2008 4:06 pm ET 1999 ACORN and the Democratic Congress and President Clinton agreed that Home ownership is a birthright, not something you need to prove yourself by, with the ultimate reward of owning a piece of America. Because of this, irresponsible Lenders and buyers received a mortgage, made less than rent payments and got a tax deduction, and defaulted on America! Thank you ACORN Housing, Clinton and the Democratic Congress, ie. Dodd & Frank, for their irresponsible managing of the American Dream come Nightmare!!!! Dodd, Frank, Obama, Clinton....all beneficiaries of FNMA and FDMC contributions.....it is the biggest crime of the CENTURY!!! Home ownership is a privilage, not a birthright...work for it, prove yourself worthy!! Now we're all paying the price for this debacle. |
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| Ray - new Mexico |
October 9th, 2008 4:06 pm ET Anderson it is the U.S. Congress who has let us down. I am an Independent and don't like to fix blame, but it started with the Clinton Administration pressuring Fred and Fannie Mac to make loans to people who could not qualify otherwise. When you make a mortgage loan to people without a down payment they can too easily walk away from the loan for they have little if any money invested in the property. We need to get back to income verification, credit checks, and a minimum of 10% down. We also need to hold the top 4 members of Congress who have received money from Fred and Fannie Mac in the past, Chris Dodd, Barrack Obama, Charles Schumer, and Barney Frank who received money in that order. Anderson you should also mention on your show, probably not popular with CNN, that Franklin Raines, who earned 100 million in bonuses when working for Fannie, is now an advisor to the Obama campaign. He was appointed to run Fannie Mae by Bill Clinton. You should also mention that the Democratic Congress blocked The Federal Housing Enterprise Regulatory Reform Act in 2005 which would have reformed Fred and Fannie avoiding this crisis. We were victims of greedy and corrupt CEO's and politicians. The top 4 above should be voted OUT of office. I was going to vote for Barrack Obama until I read this information. He was a bigger part of the problem in obstructing reform and avoiding this disaster than President Bush who I never voted for!! Ray New Mexico |
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| new citizen |
October 9th, 2008 4:06 pm ET Why stop at 10? the US Congress has 535 members, each benefitted in one way or another. Each had a vote that brought us here through deregulations. |
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| Lisa Liou |
October 9th, 2008 4:06 pm ET Yes!! finally we can see those crooks' faces. But question is, after this priceless report, what kind of crime (I mean real sentences) they will serve? Is there any law that DA/FBI/or even the Home Land Security can use to effectively prosecute them? People are frustrated and we do not want another Katrina show!! |
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| Crystal Mahoney |
October 9th, 2008 4:06 pm ET this is why i love anderson cooper |
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| MJ |
October 9th, 2008 4:13 pm ET Excellent. Exposing these greedy, corrupt, cowards is the first step. The next step is the FBI doing something about it. Prison, fines, etc... I think the American people want blood at this point. Oh, and what happened to this be-all end-all bailouit? That really helped. It helped congress and wall street line there pockets. I'm sure if the bailout didn't pass, then politicians would be crying up a storm now that the market tanked. But since the bailout passed, and the stock marked is still tanking, you don't hear a peep from congress about it. But if the market was rebounding, then congress would be in front of every TV camera taking the credit. Pure slime. An honest, hard working individual cannot get ahead in this country anymore. All these social programs and bailouts define socialism at its best. Say good-bye to capitolism and the American dream. Ever notice how all this mess started when the democrats took over congress two years ago? Now we are headed towards a democrat in the White House. God help America. |
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| Mark |
October 9th, 2008 4:13 pm ET Anderson, Don't play into the hysteria and class warfare. The culprits are all of us who bought houses we could not afford, did cash-out refi's to buy cars and flatscreens, etc. Had there been no demand from irresponsible consumers, there would have been no subprime lending. As long as there is a demand, someone will fill it, and our demand to live beyond our means, doomed our economy. |
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| allison |
October 9th, 2008 4:17 pm ET Interesting concept. However, it sounds like a witch hunt. I want to know who they are as much as anyone else, but it is a slipery slope. Be careful. The media has MUCH to do with initiating the panic that has driven the economy to its knees. |
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| MEJ |
October 9th, 2008 4:20 pm ET We should all look in the mirror! The only difference between these guys and those of us who have too much credit card debt or a mortgage that we can't afford is the scale of the mismanagement. If these guys have committed a crime they should be prosecuted, but don't blame them for the poor decisions that individual Americans have made that have put their own families in financial jeopardy. When we lose the values of personal responsibilty and accountability in this nation, we all lose...period! |
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| JD |
October 9th, 2008 4:20 pm ET It is great to see a news program attempt to hold someone acountable, especially in light of the wonderful example of how the causes of the Katrina failed response were pushed aside by politicians trying to protect their own reputations. However, I think we as Americans must stake some responsibility for this recent crises, in a few ways. We voted for these bums on both sides of the fence. Please excuse my generalizations, but we tend to prefer shallow sensalized news over substantive reporting that may be more dry, but ultimately is much more relavent to our lives than Paris Hilton's latest fashion choice. And we all tend to be stock holders now with 401K and other retirement accounts. I say this last item of universal ownership in stocks, because no one seems to be reqarding companies that actually act with a conscious by buying thier stock, or joining forces with other shareholders to demand CEO pay be more on par with their labor forces. And I must point out that to reverse these trends either by federal act or other means will have two effects. First every special interest who can influence their respective politician will decry such controls as socialist and try to spin this as un-American. The other real effect will be for at least the near term to stunt capitalism in a very real sense. For example, if we were to say ...all publicly traded companies based in the U.S. had to pay their CEO/Executives no more than 10X wha the lowest paid employee makes, or the company will be fined with those monies going towards the bailout or unemployment insurance then you will see a flood of talent leave those companies. Further, unless we are creative and have other nations of the world join us in this committment will see detractors raise the issue that companies will leave for foreign shores where regulation is lax, like Bermuda, the Caymans or somewhere else. Overall, I think we really need to come to terms with the idea of what a corporation means. An entity with all the rights of a human being that can live in perpetuity,yet without a conscious or concern for society and the overall marketplace it inhabits. If we don't examine this fundamental concept we will continue to repeat history as greed with or without malice concentrates around power and breeds corruption anew. |
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| Diane Michelle |
October 9th, 2008 4:20 pm ET My husband and I have spent a lifetime working hard and contributing slowly to our 401(k)s. We finally had created a nest egg that we were looking forward to in the next five years for our retirement. In the past weeks, we have lost over 30% of our 401(k)s and it will probably go much higher. It seems as though we might lose it all. Where is our President when we truly need him in this crisis? I suggest he suspends stock trading indefinitely until this financial crisis can be managed. Who will be there for all of us that have lost nearly everything we have worked for over the years. The concept of the 401(k) savings plan has unraveled to the point of no return. Where are our leaders of the world when we need them? |
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| Jay |
October 9th, 2008 4:21 pm ET WOW – when did it become a crime in this country to succeed? When did it become a crime in this country to post a profit to the company's balance sheets? Do you all think that every CEO and CFO in this global economy world is nothing but a bunch of thiefs and crooks? There are plenty of them who run large businesses and employ hundreds of thousands of our fellow Americans ethically. Perhaps it's a case of the "one bad apple spoils the barrel mentality." Oh and one other thought...where's the outrage with the multimillion dollar salaries our sports heros and celebs pull in every year? Lastly, aren't we all entitled to a fair trial by law in this country? I'd like to see the results of the FBI probe completed before we pass judgement. This sounds like an electronic lynching. |
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| Dee from CT |
October 9th, 2008 4:22 pm ET Mr. Cooper, you stated it perfectly: "... once the world’s attention moves on, the time for hold people accountable never seems to arrive..." Sadly, we've become more and more adapted to this lack of memory, it's good to see that a change is afoot; this is not something that should be swept under the proverbial rug, the top 10 should be made to answer for their decisions, where is their remorse, admission of guilt or any attempt to make any of this slightly better to swallow. I know if I make a drastic error in my job, I'm held responsible, including potentially being let go. What’s more, since I am no where close to the top of the totem pole, I do not get a nifty severance package when it happens either... |
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| Thomas Pain |
October 9th, 2008 4:22 pm ET I nominate George Bush as culprit number one. When he was inaugurated, the government was running record surpluses, paying down debt, and following text-book perfect fiscal policies. The Bush administration pushed reckless tax cuts and a voluntary war in Iraq that swung the fiscal balance towards record deficits, and added nearly $5 trillion to the gross Federal debt. Giving tax cuts to rich people has a predictable consequence–it creates asset bubbles. The Bush tax cuts were a main cause of the housing bubble, and the housing bubble was the main cause of the mess we're in right now. Thanks, George. |
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| Ed (New Orleans) |
October 9th, 2008 4:23 pm ET The most horrible part of this entire story of these individuals is that they will simply go on to the next multi-million dollar job and deal and chances are pretty strong that some of them will be the money managers hired by the government to dole out the 700 billion dollar bailout fund. |
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| Gil |
October 9th, 2008 4:23 pm ET With the Dow below 9000, it doesn't seem like the bailout is working. 700 Billion down the toilet. That's enough to give every person in the US about 2300 dollars! I think that would have been a better option. With a family of 5, I would get a little over 10K, spend about a thousand or so, which would help the economy, and the rest would go in the bank. If everyone else did something similar, the banks would have money to loan out again, hopefully in a more responsible manner. |
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| Dave B. |
October 9th, 2008 4:23 pm ET If the American people are not at the top of your list, your efforts will have been in vain. Blaming a few CEO's (AIG, Lehman, etc.) and politicians (Clinton, Bush, etc.), wil be ludicrous. Americans living beyond their means is the problem. Period. |
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| Jean |
October 9th, 2008 4:28 pm ET Does extreme capitalism have a name? Greed is greed, even if it does wear lipstick and live in the Hamptons. |
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| M S |
October 9th, 2008 4:30 pm ET Terrific!! Hold nothing back – be completely objective and impartial. There is plenty of blame to go around – gov't policies, industries, individuals and the public. Lay it all out there for all of us to see. As you can see by the responses to date, we finally have a public willing to display its rage about an issue. We're all made as hell and we're not going to take it any more!! Let common sense prevail!! |
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| Patti |
October 9th, 2008 4:34 pm ET Great job Anderson! I applaud you and CNN for giving the public this information. |
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| Crystal |
October 9th, 2008 4:42 pm ET Anderson, Now this is why I watch your show! I am so glad you are doing this list. We have been hearing so many talking points on both sides of the aisle - republican and democrat. So many things are being discussed that just don't matter in our lives. I am so glad someone will give us the information we really want. Everyone should go on the senate and house websites to get their representatives information. We need to be calling our representatives to make sure these people are held accountable. If enough Americans are calling for accountability, we will get it. We just can't stay silent anymore. |
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| Rock |
October 9th, 2008 4:42 pm ET Cash cows........the American public.........are cash cows and the politicians and big company's know it. Keep us informed as best you can Anderson..........:)_ |
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| Doug McVicker |
October 9th, 2008 4:42 pm ET The U.S. Government is the blame for this fiasco. Yes, greed by CEO's is the part of the problem but the government allowed this to happen while padding their own pockets. Senator Chris Dodd and Rep Barney Frank have alot to answer for. The prosperity of the 90's is now coming to the forefront as a complete facade. Bill Clinton may see his legacy go out the door. |
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| gg |
October 9th, 2008 4:46 pm ET Why we are giving money again to AIG? It seems they are fine enjoying with the initial bailout money. Why all the senior executives of AIG cannot be fired? |
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| Kyle Copeland |
October 9th, 2008 4:46 pm ET AIG=American Institute of Greed- they are giving out scholarships. |
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| DC |
October 9th, 2008 4:57 pm ET That's ridiculous to compare athletes to CEO's managing finanial companies that the general population invest in. I’m not in agreement with the salaries athletes make, however, it doesn’t matter to me because I don’t ask an athlete for advise nor do I invest in their teams. The CEO represent and manage financial companies, and are required to be provide accurate information and investment opportunities to the everyday citizen… any they haven’t been honest with either. |
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| Bharat Mulchandani |
October 9th, 2008 5:00 pm ET Mirror, Mirror on the wall – Who is to blame for it all? We, the people, stupid! The same three words that start our Constitution. NOTHING will be accomplished until to go back to the basics that made this country great. Work hard, be good and not be afraid to take on new challenges. Instead we have become a society that lives beyond our means. It is easy to blame the banks, realtors, mortgage brokers, etc. The REAL culprit is the consumer. That is consuming what has not been earned. The imbalance started at the top and it has trickled its way down. Why hasn't anyone in authority addressed the REAL issue head on. We have lived on borrowed money for decades. We need to accept our mistakes, make real changes, and not be afraid of the future. |
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| Jim Walker |
October 9th, 2008 5:03 pm ET Kudos to Anderson Cooper for going after the criminals responsible for this historic economic debacle. Their greed and arrogance have brought misery and poverty to millions of people, and not just in the United States. Every last one of them need to be brought to trial: the worst of them should be tried for treason against the people of the U.S.A. |
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| Penny |
October 9th, 2008 5:07 pm ET They should all be jailed for life. |
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| S. M. Periyasamy |
October 9th, 2008 5:08 pm ET CNN. In general, you are doing a superb job. Anderson Cooper, not only me but most Americans are anxious to know the 10 most wanted culprits who looted the life savings of the working men and women of this great nation. They should be prosecuted and their illegal wealth should be confiscated. Most importantly, a legislation should be introduced to cap their salary and bonus in order to prevent reoccurence of this kind of episode. |
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| Annie M |
October 9th, 2008 5:09 pm ET Why must these CEOs make so much personal income? |
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