It appears that Spain is on the verge of doing something Obama refuses to do

[girl gone mad]

56. Economist Joseph Stiglitz: Put Corporate Criminals in Jail

Might I suggest you take a break from posting, run down to your local library and ask the helpful librarians to assist you in researching financial fraud related to the global economic collapse.

Here's a good blog post which might help get you started: http://www.washingtonsblog.com/2012/07/the-many-ways-banks-commit-criminal-fraud.html

Many of these crimes were committed globally. Spain had to contend with a housing crisis even more extreme than ours due to bank fraud. The banks created such an enormous bubble that millions of young people were protesting in the streets against the outrageous inflation in housing. After the crash, bankers looted the public treasure (just like in the USA) and left the citizens holding the bag. Unfortunately, Spain can't print its way out of the crisis like we did since they don't control the currency their debts are written in.

And here's the single most cited economist in the world weighing in with his informed opinion:

Economist Joseph Stiglitz: Put Corporate Criminals in Jail

An institutionalized system of skewed incentives allowed Wall Street bankers and other corporate executives to gamble with America's wealth and then get away largely scot-free after the house of cards came tumbling down, plunging the U.S. into the worst economic crisis in decades and destroying trillions of dollars of wealth worldwide.

That's the analysis of Joseph Stiglitz, an internationally renowned economist and winner of the 2001 Nobel Prize in economics. (His latest book, Freefall: America, Free Markets, and the Sinking of the World Economy, is just out in paperback.)

During a wide-ranging interview with DailyFinance at AOL headquarters in New York City this week, Stiglitz, who served as chief economist of the World Bank from 1997-2000 and is currently University Professor at Columbia University, explained how the availability of cheap money (thanks in large measure to former Fed Chairman Alan Greenspan), combined with outright mortgage fraud and deceptive and predatory lending practices put millions of people into homes they couldn't afford and caused real estate prices to skyrocket. That created a bubble that would inevitably pop. (See video below, or read the full interview transcript.)

"Festering For Years"

"We have to understand that the problems have been festering for years, not just the last three years," said Stiglitz. "In the years prior to the breaking of the bubble, the financial industry was engaged in predatory lending practices, deceptive practices. They were optimizing not on producing mortgages that were good for the American families but in maximizing fees."

http://www.dailyfinance.com/2010/10/22/joseph-stiglitz-corporate-crooks-to-jail/