PBS Frontline NOW- Banker fraud 2003- , 80% of meltdown...

[francoHFW]

for example- Bush sent 3/4 of FBI fraud investigators over to anti-terrorism, never replaced them...

Scary stuff...

 

[Mad Scientist]

I thought Obama's DOJ went after them in 2008-2012? Nope.

Wow, it's like Bush and Obama had the same goals in mind when they became President: Hands off the Banksters.

Hmmm.

 

[Mad Scientist]

Were Bankers Jailed In Past Financial Crises? | The Untouchables | FRONTLINE | PBS

In the four-plus years since the 2008 financial crisis, the Securities and Exchange Commission has brought charges against more than 150 people and institutions, and won $2.68 billion in penalties. For critics of the government’s response, though, a far more telling number is zero — the number of Wall Street executives who have been prosecuted for fraud related to the financial meltdown that left 8.8 million Americans jobless and led to a $700 billion government bailout.

 

[Mad Scientist]

Ted Kaufman: Wall Street Prosecutions Never Made a Priority | The Untouchables | FRONTLINE | PBS

They may say that, like [Goldman Sachs CEO] Lloyd Blankfein argued: “It was perfectly OK to essentially not tell our customers that we were selling our securities to get rid of them at the same time we were selling securities to you. We were betting on the fact these securities were going to go down. But that’s OK, because we’re a market maker, and we’re allowed to do that.” That is not a natural disaster. That is something where somebody is engaging [in] behavior that in any other business in America is criminal. …
Are you saying Lloyd Blankfein was engaged in criminal activity?
No, it is not criminal activity because [of] the law; they’re allowed to make this market maker thing.
But you said it’s criminal.
I’m saying it’s wrong. I’m saying it’s not a natural hurricane. I’m saying it’s something that happened directly because of behavior by these folks. People think because there’s laws that somehow they’re given by some kind of divine intervention. If you try to put a law forward in the Congress and there are people in important constituencies that don’t want that law, they shape that law.
The reason why we have insider trading cases time [and] again where nobody ever gets convicted of insider trading, they get convicted for obstruction of justice. That’s because the law on insider trading is ridiculous.
The reason why Lloyd Blankfein can say that is because there’s a provision of law that says market makers don’t have to abide by what everyone else did.

You could write a book about what a Bankster Scumbag that Lloyd Blankfein is.

 

[francoHFW]

I thought the main congressional prosecutor was illuminating near the end when he admitted worrying at night about the health of the banks if he went after them. Maybe the gov't is afraid of scaring Wall St in a delicate economy, much like why Obama hired Geithner, etc. Perhaps they'll do more later, or SOON. That would be my hope.

 

[francoHFW]

The Dems DID pass Dodd-Frank by THEMSELVES, and Pubs ARE blocking implementation and funding. They're hardly equal. But despite Pub propaganda, Dems are NOT socialists.

But Neocons ARE chumps of the greedy rich, if not THEM.

 

[Mad Scientist]

Now yer calling Obama a NeoCon? Because he IS a chump of the Banksters who own him.

 

[francoHFW]

Well, he's not trying to screw up the country, but he HAS tried to regulate them. He's not a deregutan' chump. Let's give him until the statute of limitations is up. At least he had strings attached to his bailouts too. Vive la difference...

 

[Mad Scientist]

Well, he's not trying to screw up the country, but he HAS tried to regulate them. He's not a deregutan' chump. Let's give him until the statute of limitations is up. At least he had strings attached to his bailouts too. Vive la difference...

There's no hope for you Franco.

Ever.

 

[CrusaderFrank]

"I engineered the Failed Stimulus, then stole $1.2 Billion from my clients but I'll never be charged because I'm a friend of Barry!" -- Jon "I stole $1.2 Billion from my clients but I'll never be charged because I'm a friend of Barry!" Corzine