Thursday, January 24, 2013

The Untouchables

Watch The Untouchables on PBS. See more from FRONTLINE.

Outrage to the bailouts and the ability of the Obama administration to NOT put the WS banksters in jail has been a recurring theme in BRT. As readers of this blog already know, BRT has talked about this issue repeatedly along with some simple suggestions as to what should be done to rectify this shameful situation but nothing, as we all know, has been done.

BS' 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.

It gets better

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." (Indeed, as "The Untouchables" put it: while no senior Wall Street executives have been prosecuted, "many small mortgage brokers, loan appraisers and even home buyers" have been). 

Question, why is Jon Corzine not in jail?

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