The Untouchables: How the Obama administration protected Wall Street from prosecution

[zinfamous]

If only more people watched PBS Frontline documentaries instead of the latest iteration of "So you want to be famous?"

There might be hope then.

:thumbsup:

 

[zinfamous]

I have been saying this all along and yet all I got were pathetic responses defending obama and blaming others

obama is a crony and a corporatist

no, you've been saying that obama wants to allow secret muslim terrorists into the federal government and that he hates the constitution.

this is mostly about how the top levels of all admins fucked the pooch on this, and Obama certainly isn't innocent.

 

[DucatiMonster696]

Now lets take into account the president of Iceland and his view on bailing out banks.

"We decided to let the banks fail and we are much better off."

http://video.foxbusiness.com/v/2114523733001/iceland-president-we-decided-to-let-the-banks-fail/

http://edition.cnn.com/2012/12/13/business/iceland-recovery/index.html

"Allowing the banks to fail is one of the fundamental reasons Iceland is now in a strong recovery with respect to other European countries," he said.

 

[Incorruptible]

no, you've been saying that obama wants to allow secret muslim terrorists into the federal government and that he hates the constitution.

this is mostly about how the top levels of all admins fucked the pooch on this, and Obama certainly isn't innocent.

They did though, He has attacked the Constitution with his violations such as the NDAA, Assassination of Awlaki and more

 

[Zebo]

dp

 

[Jeff7]

Kind of at a loss for words on how to express my thoughts on this. I can't say I'm terribly surprised that no one has been held accountable or has been punished for this. Too much corruption, too many personal ties between the criminals and the regulators.

Just disgusting.

Here is the PBS episode you can watch online called The Untouchables.

Watching now...

 

[Zebo]

I just watched this and come away a little less cynical about powers that be believe it or not. Seems govt takes a shackling going up against these big dogs with their phalanx of lawyers they are able to hire and layers of ambiguity they are smart enough to create.

It's like a mafia don who says "take care of this" and six layers later someone dies. Good luck proving it.

Sad. OFC laws were written to prevent much of this but overturned by years of corruption and free market mantra. But prosecution for fraud in our system is extremely difficult.

You'll get some low hanging fruit but not these economic hit men.

 

[JimKiler]

Now lets take into account the president of Iceland and his view on bailing out banks.

"We decided to let the banks fail and we are much better off."

http://video.foxbusiness.com/v/2114523733001/iceland-president-we-decided-to-let-the-banks-fail/

http://edition.cnn.com/2012/12/13/business/iceland-recovery/index.html

To be fair people are debating Iceland is better off in the long run, but it still seems like the right thing to do, let them fail and deal with the consequences which could have been cheaper for the government. Look at Chrysler when the government bailed them out decades ago. We learned in school it would have been cheaper to pay the workers than to bail out the company.

 

[IBMer]

We need more of this:

http://www.huffingtonpost.com/2009/11/24/china-executes-2-people-o_n_368657.html

Companies have a huge barrier to the consequence to their actions. That should change.

 

[Incorruptible]

This case once again shows how corrupt the media are and serve the special interests. They will do what it takes to protect obama

 

[Jeff7]

We need more of this:

http://www.huffingtonpost.com/2009/11/24/china-executes-2-people-o_n_368657.html

Companies have a huge barrier to the consequence to their actions. That should change.

Especially when your deliberate actions effectively wipe out the monetary value of a lifetime's work - not just of one person, but of many dozens upon dozens, or hundreds of others.
Rob someone of several hours-worth of work and peace of mind? Jailtime.
Rob the equivalent of a hundred people of their entire lifetime's work? Oh well, you just goofed a little bit, ya silly old fella! You just get back in there and really try harder (not to get caught again).

This case once again shows how corrupt the media are and serve the special interests. They will do what it takes to protect obama

I doubt he's the primary focus. Those being kept safe are those who are more powerful than him, those who have now been shown that they can cause severe damage, and not only get off without punishment, but actually have the government say "Here's a lot of money. We will trust you to fix the mess that you caused through reckless and fraudulent greed."

 

[blankslate]

Here is the PBS episode you can watch online called The Untouchables.

Duly noted. I particularly liked the one about Brooksley Born titled The Warning which was about her efforts to convince people in power about the necessity of being wary about derivatives.

 

[Atreus21]

You have both framed this wrong. You don't send them to jail, you simply refuse to bail them out and they are out on their assess without a job and a ruined reputation with a failure of a company.

Society would have pointed and laughed, tared and feathered them. Instead of government decided to pay them the riches of kings. Now they tar and feather us.

You want prosecution, start with the ones pulling the strings, our own federal government.

:thumbsup: