skews13
Diamond Member
- Mar 18, 2017
- 10,314
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Ever since our nation’s founding, capitalism in America has been played in ways that protect stone cold killers. Psychopaths in suits. But it’s gotten particularly bad since Big Tobacco was outed in the 1990s.
There was a time when we used to prosecute these criminals.
In the 1980s, Reagan deregulated the Savings & Loan industry; predictably, within a few years, a handful of executives had made themselves multimillionaires while hundreds of thousands of families across America were wiped out.
The Justice Department stepped in and prosecuted 1100 banksters, 839 were convicted, and over a hundred went to prison.
When the so-called “Dot-com Bubble” burst around the turn of the century, dozens of bigshot executives from Enron, WorldCom, Qwest and Tyco, among others, were prosecuted, convicted, and imprisoned. We were still occasionally sending executives to prison as late as 2005.
Not anymore.
After Glass-Steagal was repealed in 1999, banksters spent the next decade lying to investors around the world about the value of their “Collateralized Debt Obligations” and other recently legalized “exotic” financial instruments that were packed full of “liar loans” and bad mortgages.
That led straight to the Bush Crash of 2008, when guys like Steve Mnuchin (who threw over 30,000 California families out of their homes) got fabulously richer. America bailed out the Wall Street banksters to the tune of over a trillion dollars.
www.rawstory.com
There was a time when we used to prosecute these criminals.
In the 1980s, Reagan deregulated the Savings & Loan industry; predictably, within a few years, a handful of executives had made themselves multimillionaires while hundreds of thousands of families across America were wiped out.
The Justice Department stepped in and prosecuted 1100 banksters, 839 were convicted, and over a hundred went to prison.
When the so-called “Dot-com Bubble” burst around the turn of the century, dozens of bigshot executives from Enron, WorldCom, Qwest and Tyco, among others, were prosecuted, convicted, and imprisoned. We were still occasionally sending executives to prison as late as 2005.
Not anymore.
After Glass-Steagal was repealed in 1999, banksters spent the next decade lying to investors around the world about the value of their “Collateralized Debt Obligations” and other recently legalized “exotic” financial instruments that were packed full of “liar loans” and bad mortgages.
That led straight to the Bush Crash of 2008, when guys like Steve Mnuchin (who threw over 30,000 California families out of their homes) got fabulously richer. America bailed out the Wall Street banksters to the tune of over a trillion dollars.
Why does the GOP work so hard to let psychopaths in suits get away with murder?
Alfred Ruf poisoned his wife as part of a scheme to get rich off her life insurance. So did Dr. Gregory “Brent” Dennis, who was looking at a $2 million payout. Joshua Hunsucker poisoned his wife for a mere $250K in life insurance money, $80,000 of which he used to buy a boat. David L. Pettis...
www.rawstory.com
