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You are incorrect. The federal government sued 20,000 people because they sat on the Boards of S&L's that went bankrupt. These people were overwhelmingly completely innocent of any wrong-doing. The federal government hired private contractors on an hourly basis to sue these people, so these lawyers, per George Bush' administration, had every incentive to sue people unjustly and made a lot of money off of it at $150/hour. Yet you seem to think that a Republican admin that sued them can do no wrong, blame everything on the dems, that's a great way for us to have progress as a society. Justice matters. The Republicans can't have it both ways.

You are incorrect. The federal government sued 20,000 people because they sat on the Boards of S&L's that went bankrupt. These people were overwhelmingly completely innocent of any wrong-doing.

First you haven't provided proof that 20,000 people were sued. When you provide that then I will listen.

Yet you seem to think that a Republican admin that sued them can do no wrong, blame everything on the dems, that's a great way for us to have progress as a society. Justice matters. The Republicans can't have it both ways.

You should know that most people here will hold both administrations to the same standards. But just because something happened ten years ago does not mean it is precedent. If they have proof then sue, if they don't they can't sue.

You are incorrect. The federal government sued 20,000 people because they sat on the Boards of S&L's that went bankrupt. The were overwhelmingly completely innocent of any wrong-doing.

You are wrong. The S&L directors had duty to ensure that the officers of the organizations followed all applicable laws relating to their industry. And you are right, many did nothing, because they were too stupid to know better. They had no idea that they should not be sitting on a board when they did not understand the business.

And if they were not guilty of fraud, they were guilty of 'going along for the ride.' The real reason they were sued was because there was a TON of fraud in that industry. I have never seen such disregard for law. Let's see, where do I begin? Huge loans to 'pals'. Floating overdrawn checks (for directors) and not recording the liabilities. Insider deals. The list goes on. I know because I saw if first hand...I audited S&Ls - and not for the federal government.

It was sad, because some of the directors were good people, but got caught because they thought that sitting on a board meant nothing. But if they had it rough, that was nothing compared to what the employees and the depositors suffered.

It sounds like you sat on one of those boards.

The federal government sued 20,000 people because they saton the Boards of S&L's that went bankrupt

The responsibility of the directors includes making loans. Loans that are guaranteed by federal money are also to be made in accordance with federal guidellines. Whenever their is gross negligence involved in making the loans the responsible party is the director. The lawyers for the creditors have every right to bring suit against the directors.

Before this is over, I am certain every director including Gramms wife will be a party to a lawsuit for negligence. I don't think Mrs. Gramm will be sued for an error in auditor selection but I do think that all the directors will be sued for gross negligence.

Those with deep pockets or their insurance companies (which they all will have) are likely to settle.