The new aristocrats,
like the lords of old, are not bound by the laws that apply to the lower
orders. Voluminous reports have been issued by Congress and government panels
documenting systematic fraud and law breaking carried out by the biggest banks
both before and after the Wall Street crash of 2008.
Goldman
Sachs, JPMorgan Chase, Bank of America and every other major US bank have been
implicated in a web of scandals, including the sale of toxic mortgage
securities on false pretenses, the rigging of international interest rates and
global foreign exchange markets, the laundering of Mexican drug money,
accounting fraud and lying to bank regulators, illegally foreclosing on the
homes of delinquent borrowers, credit card fraud, illegal debt-collection
practices, rigging of energy markets, and complicity in the Bernie Madoff Ponzi
scheme.
MUCH, MUCH MORE ON
OBAMA’S ECONOMIC CRIMES PERPETRATED ON BEHALF OF HIS CRONIES ON THE AMERICAN
MIDDLE-CLASS
One
government-organized settlement has followed another, utilizing “deferred
prosecution” deals and other gimmicks to allow Wall Street CEOs to get off
scot-free. All the banks have had to do is pay largely fictitious fines, much
of the nominal amount written off as tax credits.
No comments:
Post a Comment