As usual, Obama's administration gets criticized for the wrong things while his real mistakes go ignored.
Instead of being held in contempt of Congress for the scandal that never was, aka "Operation Fast and Furious," Attorney General Eric Holder should be skewered by lawmakers for not putting any resources into investigating Wall Street's fraud and misrepresentation leading up to, and during, the financial crisis that caused the Great Recession. Despite his promise to do so.
After the S&L frauds, Republicans in Congress unleashed hundreds of investigators to produce hundreds of indictments, and bankers were not only fined but went to jail. Yet to-date, Obama's Justic Dept. hasn't prosecuted a single banker, much less put one behind bars. Not one. Instead, Obama honors Dubya's "gentelmen's agreement" with Wall Street to let them investigate themselves, and bring only civil charges and levy fines -- effectively punishing shareholders and taxpayers as they pay for corrupt bankers' dishonesty.
It just goes to show, once again, that in our political system you get what you pay for. Wall Street learned its lesson after the S&L crisis: buy and own both parties to ensure lax regulation and criminal immunity.
By Richard Eskow
July 10, 2012 | Huffington Post
No comments:
Post a Comment