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Politics : View from the Center and Left -- Ignore unavailable to you. Want to Upgrade?

To: koan who wrote (174748)	10/27/2011 10:14:51 PM
From: Mary Cluney	Read Replies (2) \| Respond to of 541400

<<<These bankers almost destroyed the world's financial systems and cost middle American's trillions of dollars and great pain while engaging in massive FRAUD!. Millions of people have lost everything and the aged have suffered greatly; all the while Obama refused to prosecute them and has been protecting them (as he said he would do). To date not one banker has been prosecuted.>>> I disagree with you and I agree with Obama. I don't see any reason to send bankers to jail. I don't think it is a crime to be greedy. What we have to do now is to reverse Bush policies, put the proper controls in place, and fix structural deficiencies. I must seem like a broken record but it was George W Bush and his vision of rw ideology that nearly wrecked the global financial system. They did all they could to deregulate all the safeguards that were put together from what we learned after the Great Depression and turned a blind eye (example Christopher Cox and the SEC) to any semblance of protecting the financial interests of 99% of the American public. That is the crime. Go witch hunting bankers will do nothing but create an atmosphere of mob rule. You can very easily get the public riled up and go on a witch hunt "let's get those greedy SOBs and string them up". Most Bankers did not have to do anything illegal to amass a vast fortune. It was handed to them on a silver platter. When massive FRAUD did occur (that's not a surprise that people will resort to fraud) - take Bernie Madoff as an example: All the SEC had to do was send in 1 or 2 competent auditors to examine the books and they would have discovered what the Madoff scheme was all about. I sincerely think that I could have done the audit and found the scheme (and I have no financial background whatsoever). I still don't see where you think Obama did anything wrong. He is the man in charge. Geithner, Summers, etc all work for Obama. If they did anything wrong then Obama is to blame. Are you trying to tell us that there is some reason Obama is turning a blind eye to fraud?