Did only one banker in the US go to prison for the Financial Crisis of 2007-08?
In the movies The Big Short (2015) and Capitalism, a love story (2009), it is claimed that only a single banker, Kareem Serageldin, went to prison for the Financial crisis of 2007–2008, for which many blame the practices of bankers.
Big Short quote:
Banks took the money the American people gave them, and used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers! And when all was said and done, only one single banker went to jail this poor schmuck!
Was this true at the time of the films?
economics law-enforcement banking
edited 2 hours ago
Oddthinking♦
101k31419525
asked 3 hours ago
Quora FeansQuora Feans
734519
add a comment |
In the movies The Big Short (2015) and Capitalism, a love story (2009), it is claimed that only a single banker, Kareem Serageldin, went to prison for the Financial crisis of 2007–2008, for which many blame the practices of bankers.
Big Short quote:
Banks took the money the American people gave them, and used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers! And when all was said and done, only one single banker went to jail this poor schmuck!
Was this true at the time of the films?
economics law-enforcement banking
edited 2 hours ago
Oddthinking♦
101k31419525
asked 3 hours ago
Quora FeansQuora Feans
734519
"And then they blamed immigrants and poor people." Virtually everyone I know and read blames the banks and their bad practices. Anyone besides bankers blaming anyone other than bankers is the bigger claim to me.
– fredsbend
2 hours ago
1
@fredsbend: I recall in the very early days of the financial crisis, an Australian tabloid's front page picture of am African American family who had lost their house, - the article blamed families like theirs for getting home loans they couldn't repay. Later opinion pieces turned on the bankers instead.
– Oddthinking♦
25 mins ago
@odd I suppose an insidious slant might blame a demographic, heavily enforcing a negative stereotype, but "lax lending approvals" is a legitimate complaint placed squarely on the bankers, which is the only "slant" I've seen portrayed.
– fredsbend
2 mins ago
@fredsbend: Oh, I think the headline was a shallow and racist take on the causes, but it is an example supporting the "they blamed [...] poor people" claim in the question.
– Oddthinking♦
42 secs ago
add a comment |
In the movies The Big Short (2015) and Capitalism, a love story (2009), it is claimed that only a single banker, Kareem Serageldin, went to prison for the Financial crisis of 2007–2008, for which many blame the practices of bankers.
Big Short quote:
Banks took the money the American people gave them, and used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers! And when all was said and done, only one single banker went to jail this poor schmuck!
Was this true at the time of the films?
economics law-enforcement banking
edited 2 hours ago
Oddthinking♦
101k31419525
asked 3 hours ago
Quora FeansQuora Feans
734519
In the movies The Big Short (2015) and Capitalism, a love story (2009), it is claimed that only a single banker, Kareem Serageldin, went to prison for the Financial crisis of 2007–2008, for which many blame the practices of bankers.
Big Short quote:
Banks took the money the American people gave them, and used it to pay themselves huge bonuses, and lobby the Congress to kill big reform. And then they blamed immigrants and poor people, and this time even teachers! And when all was said and done, only one single banker went to jail this poor schmuck!
Was this true at the time of the films?
economics law-enforcement banking
economics law-enforcement banking
edited 2 hours ago
Oddthinking♦
101k31419525
asked 3 hours ago
Quora FeansQuora Feans
734519
edited 2 hours ago
Oddthinking♦
101k31419525
asked 3 hours ago
Quora FeansQuora Feans
734519
edited 2 hours ago
Oddthinking♦
101k31419525
edited 2 hours ago
Oddthinking♦
101k31419525
edited 2 hours ago
Oddthinking♦
101k31419525
101k31419525
asked 3 hours ago
Quora FeansQuora Feans
734519
asked 3 hours ago
Quora FeansQuora Feans
734519
asked 3 hours ago
Quora FeansQuora Feans
734519
734519
"And then they blamed immigrants and poor people." Virtually everyone I know and read blames the banks and their bad practices. Anyone besides bankers blaming anyone other than bankers is the bigger claim to me.
– fredsbend
2 hours ago
1
@fredsbend: I recall in the very early days of the financial crisis, an Australian tabloid's front page picture of am African American family who had lost their house, - the article blamed families like theirs for getting home loans they couldn't repay. Later opinion pieces turned on the bankers instead.
– Oddthinking♦
25 mins ago
@odd I suppose an insidious slant might blame a demographic, heavily enforcing a negative stereotype, but "lax lending approvals" is a legitimate complaint placed squarely on the bankers, which is the only "slant" I've seen portrayed.
– fredsbend
2 mins ago
@fredsbend: Oh, I think the headline was a shallow and racist take on the causes, but it is an example supporting the "they blamed [...] poor people" claim in the question.
– Oddthinking♦
42 secs ago
add a comment |
"And then they blamed immigrants and poor people." Virtually everyone I know and read blames the banks and their bad practices. Anyone besides bankers blaming anyone other than bankers is the bigger claim to me.
– fredsbend
2 hours ago
1
@fredsbend: I recall in the very early days of the financial crisis, an Australian tabloid's front page picture of am African American family who had lost their house, - the article blamed families like theirs for getting home loans they couldn't repay. Later opinion pieces turned on the bankers instead.
– Oddthinking♦
25 mins ago
@odd I suppose an insidious slant might blame a demographic, heavily enforcing a negative stereotype, but "lax lending approvals" is a legitimate complaint placed squarely on the bankers, which is the only "slant" I've seen portrayed.
– fredsbend
2 mins ago
@fredsbend: Oh, I think the headline was a shallow and racist take on the causes, but it is an example supporting the "they blamed [...] poor people" claim in the question.
– Oddthinking♦
42 secs ago
"And then they blamed immigrants and poor people." Virtually everyone I know and read blames the banks and their bad practices. Anyone besides bankers blaming anyone other than bankers is the bigger claim to me.
– fredsbend
2 hours ago
"And then they blamed immigrants and poor people." Virtually everyone I know and read blames the banks and their bad practices. Anyone besides bankers blaming anyone other than bankers is the bigger claim to me.
– fredsbend
2 hours ago
1
1
@fredsbend: I recall in the very early days of the financial crisis, an Australian tabloid's front page picture of am African American family who had lost their house, - the article blamed families like theirs for getting home loans they couldn't repay. Later opinion pieces turned on the bankers instead.
– Oddthinking♦
25 mins ago
@fredsbend: I recall in the very early days of the financial crisis, an Australian tabloid's front page picture of am African American family who had lost their house, - the article blamed families like theirs for getting home loans they couldn't repay. Later opinion pieces turned on the bankers instead.
– Oddthinking♦
25 mins ago
@odd I suppose an insidious slant might blame a demographic, heavily enforcing a negative stereotype, but "lax lending approvals" is a legitimate complaint placed squarely on the bankers, which is the only "slant" I've seen portrayed.
– fredsbend
2 mins ago
@odd I suppose an insidious slant might blame a demographic, heavily enforcing a negative stereotype, but "lax lending approvals" is a legitimate complaint placed squarely on the bankers, which is the only "slant" I've seen portrayed.
– fredsbend
2 mins ago
@fredsbend: Oh, I think the headline was a shallow and racist take on the causes, but it is an example supporting the "they blamed [...] poor people" claim in the question.
– Oddthinking♦
42 secs ago
@fredsbend: Oh, I think the headline was a shallow and racist take on the causes, but it is an example supporting the "they blamed [...] poor people" claim in the question.
– Oddthinking♦
42 secs ago
add a comment |
2 Answers
2
active
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Only one Wall Street banker (a trader) went to jail. Other people, who could be considered bankers, were also jailed. No Wall Street CEOs were jailed.
Financial Times, August 9, 2017:
In the US prosecutors have won convictions of 324 mortgage lenders, loan officers, real estate brokers, developers and others who were at the front end of a chain of events that contributed to the crisis, according to Sigtarp, the federal agency overseeing government bailout funds.
The most senior executive convicted was Lee Farkas, the chairman of Taylor Bean & Whitaker, a Florida mortgage lender that was at the front end of the chain. Taylor Bean’s collapse caused the failure of Colonial Bank, at the time one of the biggest in US history.
On Wall Street, and not included in Sigtarp’s count of credit crisis-related cases, one trader, Kareem Serageldin of Credit Suisse, went to prison after pleading guilty to inflating his portfolio of asset-backed securities.
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
add a comment |
90 bankers were convicted, of which 62 went to prison:
Edward Woodard
23 Years in Prison
CEO, President: Bank of the Commonwealth
Stephen Fields
17 Years in Prison
Executive Vice President, Commercial Loan Officer: Bank of the Commonwealth
Mark A. Conner
12 Years in Prison
Acting CEO, Chairman, Vice Chairman, President, COO: First City Bank
Gilbert Lundstrom
11 Years in Prison
CEO, Chairman: TierOne Bank
Shawn Leo Portmann
10 Years in Prison
Senior Vice President, Loan Officer: Pierce Commercial Bank
Sean Cutting
8 Years and 4 Months in Prison
President, Director, Chief Lending Officer, Chief Administrative Officer, Chief Executive Officer: Sonoma Valley Bancorp
Brian Melland
8 Years and 4 Months in Prison
Chief Lending Officer, Vice President: Sonoma Valley Bank
Ebrahim Shabudin
8 Years and 1 Month in Prison
Chief Credit Officer, Executive Vice President, Chief Operating Officer:
United Commercial Bank (UCBH)
Troy Brandon Woodard
8 Years in Prison
Vice President: Bank of the Commonwealth (Subsidiary)
Catherine Kissick
8 Years in Prison
Senior Vice President: Colonial Bank
Clayton A. Coe
7 Years and 3 Months in Prison
Vice President, Senior Commercial Loan Officer: FirstCity Bank
Gary Patton Hall
7 Years in Prison
CEO, President: Tifton Bank
Kirk Marsh
6 Years and 6 Months in Prison
Vice President for Government Contract Lending; Vice President:
Virginia Commerce Bank; Fulton Bank
Jerry J. Williams
6 Years in Prison
CEO, President, Chairman: Orion Bank
Adam Teague
5 Years and 10 Months in Prison
Senior Vice President: Appalachian Community Bank
Shaun Hayes
5 Years 8 Months in Prison
Director, Vice Chairman: Excel Bank
Anthony Atkins
5 Years and 3 Months in Prison
President, CEO: Gulf South Private Bank
Jeffrey Levine
5 Years in Prison
Executive Vice President: Omni Bank
Zulfakir Esmail
5 Years in Prison
CEO, Chairman; President: Premier Bank; Premier Bancorp
William R. Beamon, Jr.
3 Years and 6 Months in Prison
Vice President: Appalachian Community Bank
Robert E. Maloney, Jr.
3 Years and 3 Months in Prison
In-house Attorney: FirstCity Bank
Christopher Tumbaga
3 Years in Prison
Commercial Loan Officer: Colorado East Bank & Trust
James A. Laphen
2 Years and 10 Months in Prison
Acting CEO, COO, President: TierOne Bank
Melvin Rohs
2 years and 9 months in Prison
Senior Vice President, Senior Loan Officer:Citizens Bank of Northern California
Jeff H. Bell
2 Years and 6 Months in Prison
President; Head Factoring Division: Transportation Alliance Bank; Stearns Bank
Thomas Hebble
2 Years and 6 Months in Prison
Executive Vice President: Orion Bank
Charles Antonucci
2 Years and 6 Months in Prison
CEO, President: Park Avenue Bank
Joseph Tobin
2 Years in Prison
Vice President, Loan Officer: PBI Bank
Reginald Harper
2 Years in Prison
CEO, President: First Community Bank
James Ladio
2 Years in Prison
CEO, President; Chief Lending Officer: MidCoast Community Bank; Artisan’s Bank
etc.
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
add a comment |
2 Answers
2
active
oldest
votes
2 Answers
2
active
oldest
votes
active
oldest
votes
active
oldest
votes
Only one Wall Street banker (a trader) went to jail. Other people, who could be considered bankers, were also jailed. No Wall Street CEOs were jailed.
Financial Times, August 9, 2017:
In the US prosecutors have won convictions of 324 mortgage lenders, loan officers, real estate brokers, developers and others who were at the front end of a chain of events that contributed to the crisis, according to Sigtarp, the federal agency overseeing government bailout funds.
The most senior executive convicted was Lee Farkas, the chairman of Taylor Bean & Whitaker, a Florida mortgage lender that was at the front end of the chain. Taylor Bean’s collapse caused the failure of Colonial Bank, at the time one of the biggest in US history.
On Wall Street, and not included in Sigtarp’s count of credit crisis-related cases, one trader, Kareem Serageldin of Credit Suisse, went to prison after pleading guilty to inflating his portfolio of asset-backed securities.
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
add a comment |
Only one Wall Street banker (a trader) went to jail. Other people, who could be considered bankers, were also jailed. No Wall Street CEOs were jailed.
Financial Times, August 9, 2017:
In the US prosecutors have won convictions of 324 mortgage lenders, loan officers, real estate brokers, developers and others who were at the front end of a chain of events that contributed to the crisis, according to Sigtarp, the federal agency overseeing government bailout funds.
The most senior executive convicted was Lee Farkas, the chairman of Taylor Bean & Whitaker, a Florida mortgage lender that was at the front end of the chain. Taylor Bean’s collapse caused the failure of Colonial Bank, at the time one of the biggest in US history.
On Wall Street, and not included in Sigtarp’s count of credit crisis-related cases, one trader, Kareem Serageldin of Credit Suisse, went to prison after pleading guilty to inflating his portfolio of asset-backed securities.
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
add a comment |
Only one Wall Street banker (a trader) went to jail. Other people, who could be considered bankers, were also jailed. No Wall Street CEOs were jailed.
Financial Times, August 9, 2017:
In the US prosecutors have won convictions of 324 mortgage lenders, loan officers, real estate brokers, developers and others who were at the front end of a chain of events that contributed to the crisis, according to Sigtarp, the federal agency overseeing government bailout funds.
The most senior executive convicted was Lee Farkas, the chairman of Taylor Bean & Whitaker, a Florida mortgage lender that was at the front end of the chain. Taylor Bean’s collapse caused the failure of Colonial Bank, at the time one of the biggest in US history.
On Wall Street, and not included in Sigtarp’s count of credit crisis-related cases, one trader, Kareem Serageldin of Credit Suisse, went to prison after pleading guilty to inflating his portfolio of asset-backed securities.
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
Only one Wall Street banker (a trader) went to jail. Other people, who could be considered bankers, were also jailed. No Wall Street CEOs were jailed.
Financial Times, August 9, 2017:
In the US prosecutors have won convictions of 324 mortgage lenders, loan officers, real estate brokers, developers and others who were at the front end of a chain of events that contributed to the crisis, according to Sigtarp, the federal agency overseeing government bailout funds.
The most senior executive convicted was Lee Farkas, the chairman of Taylor Bean & Whitaker, a Florida mortgage lender that was at the front end of the chain. Taylor Bean’s collapse caused the failure of Colonial Bank, at the time one of the biggest in US history.
On Wall Street, and not included in Sigtarp’s count of credit crisis-related cases, one trader, Kareem Serageldin of Credit Suisse, went to prison after pleading guilty to inflating his portfolio of asset-backed securities.
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
answered 2 hours ago
Oddthinking♦Oddthinking
101k31419525
101k31419525
add a comment |
add a comment |
90 bankers were convicted, of which 62 went to prison:
Edward Woodard
23 Years in Prison
CEO, President: Bank of the Commonwealth
Stephen Fields
17 Years in Prison
Executive Vice President, Commercial Loan Officer: Bank of the Commonwealth
Mark A. Conner
12 Years in Prison
Acting CEO, Chairman, Vice Chairman, President, COO: First City Bank
Gilbert Lundstrom
11 Years in Prison
CEO, Chairman: TierOne Bank
Shawn Leo Portmann
10 Years in Prison
Senior Vice President, Loan Officer: Pierce Commercial Bank
Sean Cutting
8 Years and 4 Months in Prison
President, Director, Chief Lending Officer, Chief Administrative Officer, Chief Executive Officer: Sonoma Valley Bancorp
Brian Melland
8 Years and 4 Months in Prison
Chief Lending Officer, Vice President: Sonoma Valley Bank
Ebrahim Shabudin
8 Years and 1 Month in Prison
Chief Credit Officer, Executive Vice President, Chief Operating Officer:
United Commercial Bank (UCBH)
Troy Brandon Woodard
8 Years in Prison
Vice President: Bank of the Commonwealth (Subsidiary)
Catherine Kissick
8 Years in Prison
Senior Vice President: Colonial Bank
Clayton A. Coe
7 Years and 3 Months in Prison
Vice President, Senior Commercial Loan Officer: FirstCity Bank
Gary Patton Hall
7 Years in Prison
CEO, President: Tifton Bank
Kirk Marsh
6 Years and 6 Months in Prison
Vice President for Government Contract Lending; Vice President:
Virginia Commerce Bank; Fulton Bank
Jerry J. Williams
6 Years in Prison
CEO, President, Chairman: Orion Bank
Adam Teague
5 Years and 10 Months in Prison
Senior Vice President: Appalachian Community Bank
Shaun Hayes
5 Years 8 Months in Prison
Director, Vice Chairman: Excel Bank
Anthony Atkins
5 Years and 3 Months in Prison
President, CEO: Gulf South Private Bank
Jeffrey Levine
5 Years in Prison
Executive Vice President: Omni Bank
Zulfakir Esmail
5 Years in Prison
CEO, Chairman; President: Premier Bank; Premier Bancorp
William R. Beamon, Jr.
3 Years and 6 Months in Prison
Vice President: Appalachian Community Bank
Robert E. Maloney, Jr.
3 Years and 3 Months in Prison
In-house Attorney: FirstCity Bank
Christopher Tumbaga
3 Years in Prison
Commercial Loan Officer: Colorado East Bank & Trust
James A. Laphen
2 Years and 10 Months in Prison
Acting CEO, COO, President: TierOne Bank
Melvin Rohs
2 years and 9 months in Prison
Senior Vice President, Senior Loan Officer:Citizens Bank of Northern California
Jeff H. Bell
2 Years and 6 Months in Prison
President; Head Factoring Division: Transportation Alliance Bank; Stearns Bank
Thomas Hebble
2 Years and 6 Months in Prison
Executive Vice President: Orion Bank
Charles Antonucci
2 Years and 6 Months in Prison
CEO, President: Park Avenue Bank
Joseph Tobin
2 Years in Prison
Vice President, Loan Officer: PBI Bank
Reginald Harper
2 Years in Prison
CEO, President: First Community Bank
James Ladio
2 Years in Prison
CEO, President; Chief Lending Officer: MidCoast Community Bank; Artisan’s Bank
etc.
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
add a comment |
90 bankers were convicted, of which 62 went to prison:
Edward Woodard
23 Years in Prison
CEO, President: Bank of the Commonwealth
Stephen Fields
17 Years in Prison
Executive Vice President, Commercial Loan Officer: Bank of the Commonwealth
Mark A. Conner
12 Years in Prison
Acting CEO, Chairman, Vice Chairman, President, COO: First City Bank
Gilbert Lundstrom
11 Years in Prison
CEO, Chairman: TierOne Bank
Shawn Leo Portmann
10 Years in Prison
Senior Vice President, Loan Officer: Pierce Commercial Bank
Sean Cutting
8 Years and 4 Months in Prison
President, Director, Chief Lending Officer, Chief Administrative Officer, Chief Executive Officer: Sonoma Valley Bancorp
Brian Melland
8 Years and 4 Months in Prison
Chief Lending Officer, Vice President: Sonoma Valley Bank
Ebrahim Shabudin
8 Years and 1 Month in Prison
Chief Credit Officer, Executive Vice President, Chief Operating Officer:
United Commercial Bank (UCBH)
Troy Brandon Woodard
8 Years in Prison
Vice President: Bank of the Commonwealth (Subsidiary)
Catherine Kissick
8 Years in Prison
Senior Vice President: Colonial Bank
Clayton A. Coe
7 Years and 3 Months in Prison
Vice President, Senior Commercial Loan Officer: FirstCity Bank
Gary Patton Hall
7 Years in Prison
CEO, President: Tifton Bank
Kirk Marsh
6 Years and 6 Months in Prison
Vice President for Government Contract Lending; Vice President:
Virginia Commerce Bank; Fulton Bank
Jerry J. Williams
6 Years in Prison
CEO, President, Chairman: Orion Bank
Adam Teague
5 Years and 10 Months in Prison
Senior Vice President: Appalachian Community Bank
Shaun Hayes
5 Years 8 Months in Prison
Director, Vice Chairman: Excel Bank
Anthony Atkins
5 Years and 3 Months in Prison
President, CEO: Gulf South Private Bank
Jeffrey Levine
5 Years in Prison
Executive Vice President: Omni Bank
Zulfakir Esmail
5 Years in Prison
CEO, Chairman; President: Premier Bank; Premier Bancorp
William R. Beamon, Jr.
3 Years and 6 Months in Prison
Vice President: Appalachian Community Bank
Robert E. Maloney, Jr.
3 Years and 3 Months in Prison
In-house Attorney: FirstCity Bank
Christopher Tumbaga
3 Years in Prison
Commercial Loan Officer: Colorado East Bank & Trust
James A. Laphen
2 Years and 10 Months in Prison
Acting CEO, COO, President: TierOne Bank
Melvin Rohs
2 years and 9 months in Prison
Senior Vice President, Senior Loan Officer:Citizens Bank of Northern California
Jeff H. Bell
2 Years and 6 Months in Prison
President; Head Factoring Division: Transportation Alliance Bank; Stearns Bank
Thomas Hebble
2 Years and 6 Months in Prison
Executive Vice President: Orion Bank
Charles Antonucci
2 Years and 6 Months in Prison
CEO, President: Park Avenue Bank
Joseph Tobin
2 Years in Prison
Vice President, Loan Officer: PBI Bank
Reginald Harper
2 Years in Prison
CEO, President: First Community Bank
James Ladio
2 Years in Prison
CEO, President; Chief Lending Officer: MidCoast Community Bank; Artisan’s Bank
etc.
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
add a comment |
90 bankers were convicted, of which 62 went to prison:
Edward Woodard
23 Years in Prison
CEO, President: Bank of the Commonwealth
Stephen Fields
17 Years in Prison
Executive Vice President, Commercial Loan Officer: Bank of the Commonwealth
Mark A. Conner
12 Years in Prison
Acting CEO, Chairman, Vice Chairman, President, COO: First City Bank
Gilbert Lundstrom
11 Years in Prison
CEO, Chairman: TierOne Bank
Shawn Leo Portmann
10 Years in Prison
Senior Vice President, Loan Officer: Pierce Commercial Bank
Sean Cutting
8 Years and 4 Months in Prison
President, Director, Chief Lending Officer, Chief Administrative Officer, Chief Executive Officer: Sonoma Valley Bancorp
Brian Melland
8 Years and 4 Months in Prison
Chief Lending Officer, Vice President: Sonoma Valley Bank
Ebrahim Shabudin
8 Years and 1 Month in Prison
Chief Credit Officer, Executive Vice President, Chief Operating Officer:
United Commercial Bank (UCBH)
Troy Brandon Woodard
8 Years in Prison
Vice President: Bank of the Commonwealth (Subsidiary)
Catherine Kissick
8 Years in Prison
Senior Vice President: Colonial Bank
Clayton A. Coe
7 Years and 3 Months in Prison
Vice President, Senior Commercial Loan Officer: FirstCity Bank
Gary Patton Hall
7 Years in Prison
CEO, President: Tifton Bank
Kirk Marsh
6 Years and 6 Months in Prison
Vice President for Government Contract Lending; Vice President:
Virginia Commerce Bank; Fulton Bank
Jerry J. Williams
6 Years in Prison
CEO, President, Chairman: Orion Bank
Adam Teague
5 Years and 10 Months in Prison
Senior Vice President: Appalachian Community Bank
Shaun Hayes
5 Years 8 Months in Prison
Director, Vice Chairman: Excel Bank
Anthony Atkins
5 Years and 3 Months in Prison
President, CEO: Gulf South Private Bank
Jeffrey Levine
5 Years in Prison
Executive Vice President: Omni Bank
Zulfakir Esmail
5 Years in Prison
CEO, Chairman; President: Premier Bank; Premier Bancorp
William R. Beamon, Jr.
3 Years and 6 Months in Prison
Vice President: Appalachian Community Bank
Robert E. Maloney, Jr.
3 Years and 3 Months in Prison
In-house Attorney: FirstCity Bank
Christopher Tumbaga
3 Years in Prison
Commercial Loan Officer: Colorado East Bank & Trust
James A. Laphen
2 Years and 10 Months in Prison
Acting CEO, COO, President: TierOne Bank
Melvin Rohs
2 years and 9 months in Prison
Senior Vice President, Senior Loan Officer:Citizens Bank of Northern California
Jeff H. Bell
2 Years and 6 Months in Prison
President; Head Factoring Division: Transportation Alliance Bank; Stearns Bank
Thomas Hebble
2 Years and 6 Months in Prison
Executive Vice President: Orion Bank
Charles Antonucci
2 Years and 6 Months in Prison
CEO, President: Park Avenue Bank
Joseph Tobin
2 Years in Prison
Vice President, Loan Officer: PBI Bank
Reginald Harper
2 Years in Prison
CEO, President: First Community Bank
James Ladio
2 Years in Prison
CEO, President; Chief Lending Officer: MidCoast Community Bank; Artisan’s Bank
etc.
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
90 bankers were convicted, of which 62 went to prison:
Edward Woodard
23 Years in Prison
CEO, President: Bank of the Commonwealth
Stephen Fields
17 Years in Prison
Executive Vice President, Commercial Loan Officer: Bank of the Commonwealth
Mark A. Conner
12 Years in Prison
Acting CEO, Chairman, Vice Chairman, President, COO: First City Bank
Gilbert Lundstrom
11 Years in Prison
CEO, Chairman: TierOne Bank
Shawn Leo Portmann
10 Years in Prison
Senior Vice President, Loan Officer: Pierce Commercial Bank
Sean Cutting
8 Years and 4 Months in Prison
President, Director, Chief Lending Officer, Chief Administrative Officer, Chief Executive Officer: Sonoma Valley Bancorp
Brian Melland
8 Years and 4 Months in Prison
Chief Lending Officer, Vice President: Sonoma Valley Bank
Ebrahim Shabudin
8 Years and 1 Month in Prison
Chief Credit Officer, Executive Vice President, Chief Operating Officer:
United Commercial Bank (UCBH)
Troy Brandon Woodard
8 Years in Prison
Vice President: Bank of the Commonwealth (Subsidiary)
Catherine Kissick
8 Years in Prison
Senior Vice President: Colonial Bank
Clayton A. Coe
7 Years and 3 Months in Prison
Vice President, Senior Commercial Loan Officer: FirstCity Bank
Gary Patton Hall
7 Years in Prison
CEO, President: Tifton Bank
Kirk Marsh
6 Years and 6 Months in Prison
Vice President for Government Contract Lending; Vice President:
Virginia Commerce Bank; Fulton Bank
Jerry J. Williams
6 Years in Prison
CEO, President, Chairman: Orion Bank
Adam Teague
5 Years and 10 Months in Prison
Senior Vice President: Appalachian Community Bank
Shaun Hayes
5 Years 8 Months in Prison
Director, Vice Chairman: Excel Bank
Anthony Atkins
5 Years and 3 Months in Prison
President, CEO: Gulf South Private Bank
Jeffrey Levine
5 Years in Prison
Executive Vice President: Omni Bank
Zulfakir Esmail
5 Years in Prison
CEO, Chairman; President: Premier Bank; Premier Bancorp
William R. Beamon, Jr.
3 Years and 6 Months in Prison
Vice President: Appalachian Community Bank
Robert E. Maloney, Jr.
3 Years and 3 Months in Prison
In-house Attorney: FirstCity Bank
Christopher Tumbaga
3 Years in Prison
Commercial Loan Officer: Colorado East Bank & Trust
James A. Laphen
2 Years and 10 Months in Prison
Acting CEO, COO, President: TierOne Bank
Melvin Rohs
2 years and 9 months in Prison
Senior Vice President, Senior Loan Officer:Citizens Bank of Northern California
Jeff H. Bell
2 Years and 6 Months in Prison
President; Head Factoring Division: Transportation Alliance Bank; Stearns Bank
Thomas Hebble
2 Years and 6 Months in Prison
Executive Vice President: Orion Bank
Charles Antonucci
2 Years and 6 Months in Prison
CEO, President: Park Avenue Bank
Joseph Tobin
2 Years in Prison
Vice President, Loan Officer: PBI Bank
Reginald Harper
2 Years in Prison
CEO, President: First Community Bank
James Ladio
2 Years in Prison
CEO, President; Chief Lending Officer: MidCoast Community Bank; Artisan’s Bank
etc.
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
edited 58 mins ago
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
answered 1 hour ago
DavePhDDavePhD
75.8k19324349
75.8k19324349
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"And then they blamed immigrants and poor people." Virtually everyone I know and read blames the banks and their bad practices. Anyone besides bankers blaming anyone other than bankers is the bigger claim to me.
– fredsbend
2 hours ago
1
@fredsbend: I recall in the very early days of the financial crisis, an Australian tabloid's front page picture of am African American family who had lost their house, - the article blamed families like theirs for getting home loans they couldn't repay. Later opinion pieces turned on the bankers instead.
– Oddthinking♦
25 mins ago
@odd I suppose an insidious slant might blame a demographic, heavily enforcing a negative stereotype, but "lax lending approvals" is a legitimate complaint placed squarely on the bankers, which is the only "slant" I've seen portrayed.
– fredsbend
2 mins ago
@fredsbend: Oh, I think the headline was a shallow and racist take on the causes, but it is an example supporting the "they blamed [...] poor people" claim in the question.
– Oddthinking♦
42 secs ago