Quick Hit – Why Wall Street Gets a Pass
AWOL: Obama Excuses Illegal Wall Street Behavior Saying No Laws Were Broken!!!
By Mark L. Taylor
The Daily Call (10/24/11)
Honestly, is there a more frustrating political figure out there than Barack “Change You Can Believe In” Obama?
Herman Cain, for example, is just a straight up idiot and, bless him for it, he is consistent in his idiocy. Michele Bachmann never wavers from her fevered starry-eyed Biblical prophetic craziness and Mitt Romney can always be counted on to change his position on everything from healthcare to whether or not it is day or night if he thinks it will can gain him a tenth-of-point in the polls.
But Obama – now there’s a real political operator. The man who cultivated, and then betrayed, the most precious human emotion – hope – and smothers any possibility of real change beneath a chloroformed pillow of conformity.
For those of you wondering why, despite the theft of literally trillions of dollars of national wealth by a handful of criminals on Wall Street leading to more economic chaos and pain than at any time since the Great Depression we have seen absolutely no serious investigations and had no televised images of convicted banksters in orange jumpsuits the video below explains it all.
All in the family
In a recent press conference Obama responded to a question about the lack of Justice Department action on Wall Street fraud stating: “A lot of that stuff wasn’t necessarily illegal; it was immoral, or inappropriate or reckless.”
What the hell? This from a former law professor?
What about all the inducement for customers and retirement funds to invest in schemes that were clearly not what they were represented to be? What about the ratings agencies that manipulated, fudged and outright lied about all those convoluted, bundled and criminal investment “instruments” that were shams? What about the sub-prime derivatives mortgage fraud? There’s a word for that kind of bait-and-switch and it can be found in longstanding legal statutes; the word for it, Professor, is: fraud.
Obama owes Wall Street and despite the “Occupy Wall Street” pitchforks and torches crowds gathering in the streets he is doing his best to make good on the debt – and to scarf up as much “War Street” cash as possible for 2012.
No, Obama is as much a creature of Wall Street as the Goldman Sachs economic hit men – Larry Summers, Tim Geithner, Robert Rubin and Rahmn Emanuel – he surrounded himself with. While Obama’s ’08 campaign bragged on about all the small donors fueling his campaign the reality was that Wall Street floated that campaign. (Full disclosure, I was one of the suckers writing checks; won’t make that mistake again)
Obama owes Wall Street and despite the “Occupy Wall Street” pitchforks and torches crowds gathering in the streets he is doing his best to make good on the debt – and to scarf up as much “War Street” cash as possible for 2012. Key to keeping the campaign donations rolling in is to keep the criminal banking class donors out of jail.
The evil of two lessers
Many of my liberal friends are beyond frustrated with me, saying that sure Obama isn’t perfect – who is, they remind – but, I need to consider the alternative. Do I really want a President Romney or a President Perry? Of course not, but my point is, don’t fool yourself; from war to government secrecy to erosion of civil rights to the corruption on Wall Street and the ongoing evisceration of the middle class resulting from the criminality of the 1%, Obama is consistent with much of the worst of the Cheney-Bush administration and much of the Republican Party.
All the Tea Party fulminations about Obama being a socialist is crazy talk from a bunch of flat Earthers. He’s no socialist. But he is also no (traditional) Democrat. He is, however, a good friend, consistent ally and reliable servant of the very powers that are taking us down and there is no clearer evidence of that than the absence of Wall Street con men in prison cells.
2+-Minute Video including Obama’s Comments About Wall Street: http://www.realecontv.com/videos/government-corruption/obama-banks-broke-no-laws-broken.html
Where Are the Feds? Cops Arresting the Wrong People on Wall Street
In case you wonder what Obama and Attorney General Eric Holder could and should do to prosecute the criminals on Wall Street listen to the recent Tom Ashbrook “On Point” radio interview with William Black, who led the government prosecution of a thousand S&L federal fraud cases back in the 80’s. Black lays out the laws that were broken, legal precedents to be observed, what the investigation and prosecution would need and the logic for doing it and doing it now.
Until this administration takes immediate concrete steps to prosecute Wall Street don’t delude yourself that Obama will give you anything other than what he and Cheney-Bush delivered or that any significant change from the present order will occur.
Is Bank of America Headed for the Glue Factory and the Taxpayer Being Yanked to the Cleaners, Again? http://readersupportednews.org/opinion2/279-82/8033-is-bank-of-america-headed-for-the-glue-factory
(Editor’s Note: Most of the issues erupting around us have not just sprung out of the ground overnight. Instead, there is historical context and an often interconnecting cast of characters. Quick Hits is designed to provide more in-depth understanding about what is going on. While the videos and article links may be longer that most offerings, they still provide a valuable way to get up to speed on important issues in – usually – an hour or less. - Mark L. Taylor)