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Obama's 'Untouchables:' How The Most Powerful Wall Street Execs Escaped Prosecution
Business Insider ^ | 01/23/2013 | Glenn Greenwald, The Guardian

Posted on 01/23/2013 8:50:40 AM PST by SeekAndFind

PBS' Frontline program on Tuesday night broadcast a new one-hour report on one of the greatest and most shameful failings of the Obama administration: the lack of even a single arrest or prosecution of any senior Wall Street banker for the systemic fraud that precipitated the 2008 financial crisis: a crisis from which millions of people around the world are still suffering.

What this program particularly demonstrated was that the Obama justice department, in particular the Chief of its Criminal Division, Lanny Breuer, never even tried to hold the high-level criminals accountable.

What Obama justice officials did instead is exactly what they did in the face of high-level Bush era crimes of torture and warrantless eavesdropping: namely, acted to protect the most powerful factions in the society in the face of overwhelming evidence of serious criminality. Indeed, financial elites were not only vested with impunity for their fraud, but thrived as a result of it, even as ordinary Americans continue to suffer the effects of that crisis.

Worst of all, Obama justice officials both shielded and feted these Wall Street oligarchs (who, just by the way, overwhelmingly supported Obama's 2008 presidential campaign) as they simultaneously prosecuted and imprisoned powerless Americans for far more trivial transgressions.

As Harvard law professor Larry Lessig put it two weeks ago when expressing anger over the DOJ's persecution of Aaron Swartz: "we live in a world where the architects of the financial crisis regularly dine at the White House."

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Crime/Corruption; Government; News/Current Events
KEYWORDS: banks; banksters; executives; illegitimategov; mafia; obama; prosecution; prosecutions; wallstreet

1 posted on 01/23/2013 8:50:54 AM PST by SeekAndFind
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To: SeekAndFind

Simple....two words, actually three: Campaign Contributions and Kickbacks.....


2 posted on 01/23/2013 8:51:40 AM PST by Gaffer
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To: SeekAndFind
Does anyone actually think a GOP President would have gone after any wrong doing?

Reagan was the last Pres to hold any Wall Street crooks somewhat accountable.

There is no GOP outrage against financial malfeasance today.

3 posted on 01/23/2013 8:58:13 AM PST by Theoria
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To: Gaffer

Face it - the Current Regime now occupying the kWhite Hut is a criminal enterprise.

On so many levels.


4 posted on 01/23/2013 9:02:48 AM PST by alloysteel (Bronco Bama - the cowboy who whooped up and widened the stampede.)
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To: Gaffer

Face it - the Current Regime now occupying the White Hut is a criminal enterprise.

On so many levels.


5 posted on 01/23/2013 9:03:16 AM PST by alloysteel (Bronco Bama - the cowboy who whooped up and widened the stampede.)
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To: alloysteel

Any trials would have lead to disclosure of the complicity of politicians and bureaucrats with the fraud. After all, Fannie and Freddie and the FHA were busy buying lots of these loans and then issuing CDO’s. The Govt knew that these securities were suspect..they wrote the rules that allowed them.


6 posted on 01/23/2013 9:06:35 AM PST by Oldexpat
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To: alloysteel

Believe it. Although that would be giving the Mafia a bad name. I prefer to think of it as Obama is King Pimp from the MacDaddy Pimp and Gang Ball who has won the prize (again).


7 posted on 01/23/2013 9:06:40 AM PST by Gaffer
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To: Theoria

I remember some of the Enron people going to prison.


8 posted on 01/23/2013 9:07:22 AM PST by 1rudeboy
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To: SeekAndFind

Looking for the wrong crooks. While big bankers hold some culpability for the financial crisis, the biggest criminals responsible are Bill Clinton, Andrew Cuomo, and Janet Reno. Greenwald and the other cluck are both bigtime leftists who’d likd nothing more than to divert the public’s gaze away from the real chief perpetrators to Obama’s Wall Street cronies who were second-tier crooks compared to Slick Willy and his pals.


9 posted on 01/23/2013 9:11:46 AM PST by driftless2
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To: SeekAndFind

Jon Corzine should spend the rest of his natural life in prison for stealing $1.6-billion in customer-segregated funds.


10 posted on 01/23/2013 9:12:32 AM PST by E. Pluribus Unum (TYRANNY: When the people fear the politicians. LIBERTY: When the politicians fear the people.)
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To: 1rudeboy
I remember some of the Enron people going to prison.

Or blowing their brains out or euthanizing themselves.

11 posted on 01/23/2013 9:16:06 AM PST by E. Pluribus Unum (TYRANNY: When the people fear the politicians. LIBERTY: When the politicians fear the people.)
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To: Theoria
Reagan was the last Pres to hold any Wall Street crooks somewhat accountable.

And he was VERY wise to do so, as it reinforced everybody's confidence in Capitalism, the risk/reward paradigm, the moral hazard, and other basic rules of the road.

Obama on the other hand is creating a growing impression that Capitalism is a rigged game, with CEO's and Wall Street types becoming fantastically wealthy while the little guy gets SCROOOD, and the transgressions of the rich are overlooked. Which is in my view according to plan, as he is trying to get 51% of us to give up on Capitalism.


12 posted on 01/23/2013 9:25:01 AM PST by Buckeye McFrog
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To: alloysteel
Face it - the Current Regime now occupying the kWhite Hut is a criminal enterprise.

Face it - the federal government has become a criminal enterprise!!!

13 posted on 01/23/2013 9:34:14 AM PST by varon (USA Nationalist)
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To: E. Pluribus Unum

He was the first one I thought about. Since Obammma got re-elected, the statute of limitations will run out and he’ll walk free instead of hang freely.


14 posted on 01/23/2013 9:37:41 AM PST by BipolarBob (Happy Hunger Games! May the odds be ever in your favor.)
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To: Gaffer

Two words:

Full disclosure. Ain’t nobody ever going to do a day in jail.


15 posted on 01/23/2013 9:38:10 AM PST by VRW Conspirator (Sometimes it takes calamity to lead to serenity - FReeper RacerX1128)
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To: SeekAndFind

Did anyone really expect the bankers to be put on trial?


16 posted on 01/23/2013 9:38:10 AM PST by count-your-change (you don't have to be brilliant, not being stupid is enough)
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To: SeekAndFind

Saw the broadcast last night on PBS. No mention of Fannie Mae or Freddie Mac nor of Chris Dodd or Barney Frank. And Lanny Breuer works for Eric Holder who works for Obama. The same characters that are involved in Fast & Furious.


17 posted on 01/23/2013 9:47:24 AM PST by Hotlanta Mike ("Governing a great natiorn is like cooking a small fish - too much handling will spoil it." Lao Tzu)
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To: SeekAndFind

“we live in a world where the architects of the financial crisis regularly dine at the White House.”
Obama&Co have proved that to be true.


18 posted on 01/23/2013 9:56:22 AM PST by Vaduz
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To: SeekAndFind

WALL STREET PROSECUTIONS UNDER OBAMA: ZILCH
http://www.freerepublic.com/focus/f-news/2920917/posts

In Financial Crisis, No Prosecutions Of Top Figures
http://www.freerepublic.com/focus/f-news/2704778/posts

Gun prosecutions under Obama down more than 45 percent
http://www.freerepublic.com/focus/f-news/2969934/posts

too busy redistributin’ out thar.


19 posted on 01/23/2013 9:58:53 AM PST by TurboZamboni (Looting the future to bribe the present)
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To: SeekAndFind

It was a good program. That DoJ attorney Lanny Breuer is a joke. After all of that evidence, still not enough to take to a jury? Give me a break. Obvious that the Admin told him to stop the investigation. Odd that Sen. Kaufman and Phil Angelides actually came off looking good.


20 posted on 01/23/2013 10:05:11 AM PST by Lou Budvis
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To: 1rudeboy

Which was Bush’s Justice Dept doing the prosecuting, just to be clear.


21 posted on 01/23/2013 10:15:19 AM PST by FreedomPoster (Islam delenda est)
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To: E. Pluribus Unum

22 posted on 01/23/2013 10:19:01 AM PST by dead (I've got my eye out for Mullah Omar.)
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To: dead

reminds me of the famous Charlie Rangel pose, minus the babe.


23 posted on 01/23/2013 10:43:26 AM PST by TurboZamboni (Looting the future to bribe the present)
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To: dead

I wish to remain silent on the grounds that I might say something incriminating.


24 posted on 01/23/2013 10:55:37 AM PST by E. Pluribus Unum (TYRANNY: When the people fear the politicians. LIBERTY: When the politicians fear the people.)
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To: SeekAndFind

...Senate’s second-highest ranking Democrat, Dick Durbin, admitted in 2009: The banks “frankly own the place.”

... Former banking regulator and current securities Professor Bill Black told Bill Moyers in 2009 that “Timothy Geithner, the Secretary of the Treasury, and others in the administration, with the banks, are engaged in a cover up to keep us from knowing what went wrong.”

http://majorityrights.com/money/american-history#h1b


25 posted on 01/23/2013 10:59:46 AM PST by Enough is ENOUGH (How much influence do the banks have on politics and the media?)
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To: SeekAndFind

re Larry Lessig

Young Mr. Swarz killed himself, not because of fat cat banksters going un-punished, but because he fell victim to government power.

In fact, an example of government power, that demonstrates why we need to be prepared to protect ourselves from government power.

Prof. Lessig sort of mentions that Mr. Swarz faced a daunting task of defending himself, BECAUSE THE GOVERNMENT WAS PILING ON CHARGES THAT DID NOT PERTAIN, a bad habit of government, the nature of prosecuting attorneys and judges corrupted by their power, the very reason why we need to force government to adhere to DUE PROCESS because otherwise government more simply buries you.

The point is, that in this time when so-called “enlightened” liberals are decrying anybody’s observation of history and life, THAT WE MUST PROTECT OURSELVES FROM THE NATURE OF GOVERNMENT, FROM BAD GOVERNMENT, FROM ABUSES BY GOVERNMENT, AND BY A LARGE ASSORTMENT OF BAD GOVERNMENT AGENTS OF MANY TYPES ... the liberals neatly ignore the last decades of their many cries FOR DUE PROCESS for the very same reasons: we must have numerous protections from government.

DUE PROCESS and “the three branches of government” and the assurances from “enlightened” arrogators who state that “the Second Amendment is irrelevant” *and so presumeably we are to rely upon the condolences of the big egos of socialism ... as all we need to defend ourselves?!

We are to be happy that the socialist government will provide a funeral? Making room for a job applicant. You’re dead, and “So what?!” says Hillary Clinton!

Self defense, our right to keep and bear Arms, our right to worship God, being safe in our homes, having just about any right affirmed by the Bill of Rights ... THESE ARE ALL NOW “IRRELEVANT AND ‘OVER THE TOP’.”

Because the arrogant liberal’s vanity “knows better.”

Our safety should be in the hands of the liberals who look at the holocaust and deem it irrelevant, an aberration by government, merely an anti-semitic event and no chance that the nature of government power had anything to do with it.

In other words, Hitler was right, except where he was anti-semitic?! According to the “enlightened” liberal professors for nationalizing socialism and fascist-command economics and police statism?!

So remember, please, that young Mr. Swarz did not end his life because banksters are living it up. He ended his life, because he could not see any hope of defending himself against the ridiculous OVER-CHARGING by the prosecution who were attempting to elevate his crimes to being punishable by decades in prison.

The government was trying to MAKE AN EXAMPLE OF AARON SWARZ.

The government will often try to do that, and especially wield its power over the smallest and most ordinary people of a society ... when that government “enjoys” un-check police powers.

The liberals who fail to equate the loss of our Bill of Rights with the loss of due process, are hell bent.

Every sad story and statistic henceforth, upon The Continued Rape of The Bill of Rights by Socialists, they will blame on economics ... instead of the nature of government.

It was against the nature of government, that our *natural rights* including the right to keep and bear Arms for our defense, were affirmed in the Bill of Rights.

The nature of government is not irrelevant.


26 posted on 01/23/2013 11:47:53 AM PST by First_Salute (May God save our democratic-republican government, from a government by judiciary.)
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To: SeekAndFind

The Congressional midterms are coming up. We have to hoist Obama on his own petard. We’ve got to break the media on its own bias.

“This is the most corrupt Presidency in American history” must be our theme. The drips must become a torrent.


27 posted on 01/23/2013 11:59:22 AM PST by 1010RD (First, Do No Harm)
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To: SeekAndFind

The OWS and 99%er attacks against wealth are typical communist attacks against wealth creation.

We must distinguish between market entrepreneurs and political entrepreneurs. Show no mercy or quarter for the latter, but honor and nurture the former.


28 posted on 01/23/2013 12:07:45 PM PST by 1010RD (First, Do No Harm)
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