Wall Street Bankers Should Be Prosecuted, Survey Shows

In an over-whelming show of support Americans want those responsible for sending the U.S. economy Wall Street into a massive downturn prosecuted by federal authorities, according to a new opinion poll.

The finding was determined through the latest Housing Predictor poll, which surveyed visitors over Wall Street bankers actions related to the near freeze of the U.S. economy. Bankers on Wall Street halted trading derivatives and mortgage backed securities in mass after investors became nervous over the excess number of units traded in the years leading up to the financial crisis.

A massive 93% of respondents polled said Wall Street bankers and traders responsible for defrauding millions of Americans should be prosecuted.

Wilkinson- Cartoon

The halt on Wall Street, produced by fears over the extent of the financial damage that had been done to the U.S. economy, drove investors in stocks, bonds, mortgage backed securities and other investments to withdraw their investments. The real estate financing system nearly sustained a death blow, but then the Bush administration, prompted by the U.S. Treasury came to the nation’s rescue with the Troubled Assets and Relief Program (TARP) $780-billion.

Nearly three years after the financial crisis came to a head on Wall Street, only a handful of financial executives have been arrested for wrongdoing in actions leading up to the crisis from Wall Street firms.

Despite SEC investigations, no traders or bankers on Wall Street have been successfully prosecuted for related illegal activities. More than 1,200 mortgage brokers, real estate agents and brokers, bankers doing business outside of Wall Street and private citizens have been prosecuted by legal authorities related to cases of mortgage fraud.

Answer the New Predictor Poll

Would you like to see those Wall Street bankers responsible for defrauding millions of home buyers prosecuted?

Yes: 93%
No: 7%

To see the previous poll results click here.