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Thread: Why Can't Obama Bring Wall Street to Justice?

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    Default Why Can't Obama Bring Wall Street to Justice?

    Why Can't Obama Bring Wall Street to Justice?


    Despite his populist posturing, the president has failed to pin a single top finance exec on criminal charges since the economic collapse. Are the banks too big to jail—or is Washington’s revolving door at to blame? Peter J. Boyer and Peter Schweizer investigate:


    Obama’s 2009 White House summit with finance titans, in which the president warned that only he was standing "between you and the pitchforks"

    Why, despite widespread outrage, financial-fraud prosecutions by the Department of Justice are at 20-year lows

    Attorney General Eric Holder’s lucrative ties to a top-tier law firm whose marquee clients include some of finance’s worst offenders

    How Obama’s trumpeted “task force” for investigating risky mortgage lenders—announced in this year’s State of the Union speech—is badly understaffed and has yet to produce any discernible progress

    With the Occupy protesters resuming battle stations, and Mitt Romney in place as the presumptive Republican nominee, President Obama has begun to fashion his campaign as a crusade for the 99 percent--a fight against, as one Obama ad puts it, "a guy who had a Swiss bank account." Casting Romney as a plutocrat will be easy enough. But the president's claim as avenging populist may prove trickier, given his own deeply complicated, even conflicted, relationship with Big Finance.

    Obama came into office vowing to end business as usual, and, in the gray post-crash dawn of 2009, nowhere did a reckoning with justice seem more due than in the financial sector. The public was shaken, and angry, and Wall Street seemed oblivious to its own culpability, defending extravagant pay bonuses even while accepting a taxpayer bailout. Obama channeled this anger, and employed its rhetoric, blaming the worldwide economic collapse on "the reckless speculation of bankers." Two months into his presidency, Obama summoned the titans of finance to the White House, where he told them, "My administration is the only thing between you and the pitchforks."

    The bankers may have found the president's tone unsettling. Candidate Obama had been their guy, accepting vast amounts of Wall Street campaign money for his victories over Hillary Clinton and John McCain (Goldman Sachs executives ponied up $1 million, more than any other private source of funding in 200. Obama far outraised his Republican rival, John McCain, on Wall Street--around $16 million to $9 million. As it turned out, Obama apparently actually meant what he said at that White House meeting--his administration effectively would stand between Big Finance and anything like a severe accounting. To the dismay of many of Obama's supporters, nearly four years after the disaster, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions.

    "It's perplexing at best," says Phil Angelides, the Democratic former California treasurer who chaired the bipartisan Financial Crisis Inquiry Commission. "It's deeply troubling at worst."


    http://www.thedailybeast.com/newswee...o-justice.html


    You ever wonder how Obama can complain about Wall Street, while taking their money and meeting with them behind closed doors? I think he's leading his idiot followers around by their noses. He's not going to do anything to Wall Street EVER. He'll try to tax the crap out of small business and Mom & Pop businesses though, if he gets reelected.


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    The two main entities that hold America & The World hostage are Wall Street & Big Oil … hard to say why conservatives don't tax them other than the Norquist Pledge …

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    Quote Originally Posted by exotix View Post
    The two main entities that hold America & The World hostage are Wall Street & Big Oil … hard to say why conservatives don't tax them other than the Norquist Pledge …
    Which us unconstitutional I might add. Where in the constitution does it say congress must pledge to a private citizen on taxes?

    See how the repubs respond to this one.

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    Who on Wall Street has commited a crime that you believe needs to be brought to justice?

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    Quote Originally Posted by exotix View Post
    The two main entities that hold America & The World hostage are Wall Street & Big Oil … hard to say why conservatives don't tax them other than the Norquist Pledge …
    Ah, Obama has been president for several years now. The Democrats controlled congress for the first two years of the Obama admin. Why didn't he go after corruption on Wall Street and in the banking system?



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    Quote Originally Posted by fmw View Post
    Who on Wall Street has commited a crime that you believe needs to be brought to justice?

    Corzine...... Ever hear of him?

    How about the Banks that were caught laundering Mexican Drug Cartel money?
    Last edited by RP12; May 07 2012 at 01:01 PM.

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    Quote Originally Posted by DonGlock26 View Post
    Ah, Obama has been president for several years now. The Democrats controlled congress for the first two years of the Obama admin. Why didn't he go after corruption on Wall Street and in the banking system?
    Obama and the Dems aren't quite sure what would happen to the Bush Great Depression Recovery … that is, they wouldn't know what instability might happen to an already unstable system (see Europe) … what you're see'ng now is what happened in the first conservative-borne great depression … but no would have thought the conservatives would enter into a cabal to undermine the bush great depression recovery on Obamas' inauguration and continue to obstruct and filibuster and hostage-take to this day …

    The conservatives had waited until recovery took hold before embarking on obstruction (high-treason) of recovery during the first Hoover great depression including Hoover himself as chief spokesman to obstruct the New Deal … which forced America into a second great depression as well as lengthened the time of recovery by almost another 30 years …
    Last edited by exotix; May 07 2012 at 01:13 PM.

  8. #8
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    Quote Originally Posted by exotix View Post
    Obama and the Dems aren't quite sure what would happen to the Bush Great Depression Recovery … that is, they wouldn't know what instability might happen to an already unstable system (see Europe) … what you're see'ng now is what happened in the first conservative-borne great depression … but no would have thought the conservatives would enter into a cabal to undermine the bush great depression recovery on Obamas' inauguration and continue to obstruct and filibuster and hostage-take to this day …

    The conservatives had waited until recovery took hold before embarking on obstruction (high-treason) of recovery during the first Hoover great depression including Hoover himself as chief spokesman to obstruct the New Deal … which forced America into a second great depression as well as lengthened the time of recovery by almost another 30 years …
    Conservatives are not the president right now- Obama is. Why are the Democrats unable to prosecute corruption on Wall st. and in the banking industry?


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    Last edited by DonGlock26; May 07 2012 at 01:32 PM.

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    Quote Originally Posted by DonGlock26 View Post
    Why Can't Obama Bring Wall Street to Justice? Despite his populist posturing, the president has failed to pin a single top finance exec on criminal charges since the economic collapse. Are the banks too big to jail—or is Washington’s revolving door at to blame?

    Or is it possible that the problem occurred without anyone doing anything illegal?
    Henry George's theories were based on land ownership and how far a business was from a public resource like a mill or waterway. The man lived and died a decade before the model T was produced much less modern transportation and communication. Not only did Henry George never hear of the Internet, he barely lived long enough to see the electric light. Applying the theories of Henry George to modern nations is about as risky as letting the most brilliant caveman design your next airport.

  10. #10
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    Quote Originally Posted by DonGlock26 View Post
    Conservatives are not the president right now- Obama is. Why are the Democrats unable to prosecute corruption on Wall st. and in the banking industry?
    What part of reading comprehension are you not comprehending ... prosecution of Wall Street just might lead to further instability in systems ... Wall Streets' massive fraud extended from pensions to housing to investments to Global Systems ...

    Just another troll thread if you ask me ...

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