What exactly happened? (Day 1)

Fatma: we are here today to make legal judgment against the defenses (the names) Angelo Mozilo the

Judge: Now I would like the juries to examine

 we believe that the defendants must be sent t jail Angelo Mozilo committed an insider trading he realized that his company is in trouble. He changed his situation and he was asked and he refused to answer/ where's the money now?

Razan: the CEO mentioned that all allow their banks . buyers were not aware or all information. The buyers trusted agencies  they made this whole process easier it is their. They were being creative in a free market system . Angelo did not commit an insider trading

Tala: id like to call Angelo Mozilo. Do you think giving people loans, which they aren’t able to pay, and yet not making them leave any deposits, is right? Why didn’t you stop the situation that was happening

Leen: I didn’t know it was this serious

Tala: then why did you sell all your shares immediately just before the crisis booms? Could you please give me a convincing explanation for the $140 million you gained on stock, and then sold between November 2006 and 2007? Leen: I have the full right to.

Tala:  why did you sell all your shares immediately just before the crisis booms? Could you please give me a convincing explanation for the $140 million you gained on stock, and then sold between November 2006 and 2007? 

Leen: I have the full right to

Tala: I need to know the reason

Leen: its my personal reason I just have the right to do it

Tala: the past year…. Don’t you think informal people who have financial?

Leen: you're talking about fraud and I have paid for it.

Tala: correction: you didn’t pay

Leen: Country wide paid

Tala: asked a c

Leen: it's not illegal

Tala: you're not trustworthy

Leen: I am not breaking the law

Tala:  How can you explain the emails you sent to Mr. Sambol?

Leen: it was a joke. I wouldn’t send something important through the internet. The world is full of hackers. I wouldn’t send something this serious through the internet

Tala: I would like to call Ben. Mr Ben, In March 2009, you said the only reason you care about Wall Street is because of the effect it has on

Main Street

. You wanted to become federal chairman to make things better “for the average person.” You have been chairman since 2006; do you believe you have accomplished your goal? And if so, how?

Awaif: that’s the reason I

Tala: you support (inflation) governments benefit when properties . Access to cheap money. Do you support inflation

Awatif: no

Tala: you’re contradicting your appear.

Tala: you cannot follow your own authorization. You were simply ignoring them.

Awatif: I wasn’t ignoring. In contradicting I was trying to save the situation but that’s when people like you started assuming me with committing crimes

Tala:

Awatif: to correct you I didn’t steal any saving. What they took from people, was agreed on in the first place, in the contract signed by those people

Tala” how would they agree

Yaqeen:  Ben was accused for theft and he didn’t really steal anything. First of all there's this federal bank. CEO are working over rules. And I object.

Razan: the issue here is not about the deregulation its about the clients who has signed blindly. Ben did not legalize any the buyers approved the

Hawra: she's right its not about the re

Razan: your honor please can they ask clearly

Judge: she's doing her best

Tala:

Awatif:

Tala: to stabilize the system you have to start with the small bits then bigger

Hawra: asked Razan to cross examine

Razan:  how would you respond if I say that the financial institutions

Dareen: this court emphasize that it’s about theft so why are is the defense team going over subject

Dareen: her question was over ruling. And she is not gives us the chance to clarify

Razan: how would you respond to the statement that says financial institution are the bases of a free market economy

Razan: WE HAVE ANOTHER QUESTION.

Judge: not time for questions

Shaima: Ben. What is your role as a chairmen at federal

Awatif: I work as chairmen in the federal bank. I’m the chairmen.

Shaima: what does the chairman do?

Dareen: I object

Shaima: can you tell her to be quite while I'm talking

Hawra: please ask the question again clearly so we could move on to the next question

Shaima: I take my question back.

Razan: I believe that there are too many interruption from the prosecution members that doesn’t make any sense

Rayan: I’d like to call hank Paulsen .

Amna: do you swear to tell the truth, the whole truth, and nothing but the truth.

Noor: I swear.

Rayan: Why do you believe that you out of all people who are engaged in this system, in the states, and around the world, who lost their money and belongings while you and other bank executives gained?

Noor:  This is how the system works, we bank executives gain for our work and duty, we did not plan this so it isn’t our fault.

Rayan: Don’t you think you broke any rules against the law when you chose a company over another on a preferential basis while giving bailout money aid?

Noor: Which companies are you talking about exactly? And no I don’t think I broke any rules.

Rayan: both .Do you think you broke any rule when you chose a company over a

Noor: I haven’t favored a company over so no.

Razan: it does not relate to theft. The crime is theft but they're talking about company iver another

Rayan: Weren’t you aware that A.I.G were planning to pass about 2.9 billion US $ to Goldman Sachs as bailout money?

Noor: no

Nex q. Did you authorize the transfer of the money by A.I.G from the government bailout money?

Noor:  no

Razan : I object

Hawra: please remain on topic

Rayan : Why did you refuse giving the names of banks you helped or gave aid to? There must be a beneficial reason.

Noor: personal reason if you wanted to know there would have been in a confidetion report. Its not my choice

Razan: objection.. it's related to bribery more than theft. Because it was a number of bank names which were

Dareen: can I approach the bench

Hawra: No

Do you think that government aid should be rather than finantion institutions, if not why so

Rayan: Don’t you think that gover have been chance; from

Noor: no comment

Hawra: pleas rephrase

Tala: ill help rephrase. What we mean is don’t you think that the government aid the money go to rather than the financial in

Noor: the money we received with the help of the managers they should provide from the home borrowers. It’s how the system works

Noor: this is how it works we give it to the financial institution

Tala: that’s not helping them by giving them the money. Weren’t you aware when 9 billion Goldman Saches. What we meant was as your position its your responsibility to monitor it happens under you its your job why wouldn’t you recognized that this about of money is being used

Noor: it is my job to monitor where the money goes to. There are other managers who help. And it might be a fault.

Hawra: dismissed

Rayan: what was the bailout that gave billions to the bank. What was your job

Noor: we were having meeting to discuss about how we can fix the financial system. As a secretary of treasury. Im supposed to monitor where the cash goes to and how the financial system works does

Rayan: I would like to call Eileen foster

Amna:  *swear*

Kawther: I swear

Rayyan: Do you believe that this situation is a way of business

Kawther: No

Ryyan : What do you think was the intention of executives of country wide.

Kawther: they were looking through the

Rayyan: did they commit any crimes

Kawther: yes