I read...alot. You should try it. Holder has utterly failed to prosecute any banker. He is the least active DoJ leader in recent memory....in an era of shockingly widespread banking scandals, fraud, criminal theft, price fixing, and misrepresentation during the sale of securities by banks. Why is that? Very simple. To use your own words, Obama continues to feel that sweeping these things under the rug is more important than enforcing the law, because he thinks the economy will be adversely impacted by putting these guys in jail. That's the fundamental fallacy of thinking going on here.
During the S&L crisis, which was very similar to what we just had, but much much smaller in scale, there were thousands of indictments and many S&L executives were put in jail. Many of the fraudulent S&Ls were wound down and the investors wiped out, without putting the tab on the taxpayer. This was responsible. What Obama has done is the opposite. The criminals who created the crisis and profited from it are still running their banks and they are engaging in more rampant fraud and financial destruction than before the crisis. LIBOR, aluminum price fixing, even MORE derivatives notiional value than before....WOW. This was all very predictable. |
