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Fri Aug 23, 2013, 07:42 PM

The DOJ Has Corrupted the Rule of Law by Not Prosecuting Wall Street Financial Looters

Journalist and scholarly muse Thomas Frank noted in a recent e-mail to colleagues,

September 15 will mark five years since the collapse of Lehman Brothers and the official beginning of the slump that never ends. It was a moment that smashed the faith of millions of people. And so it’s time for a look back: What did the nation learn from that moment of complete disillusionment?

Well, basically nothing. We came to the turning point and didn’t turn.


Frank was referring to his September dateline Harper's Magazine article (only available in the print edition and behind an online paywall), in which he concluded:

But a society that believes good government to be an impossibility is unlikely to do what is necessary to keep industry honest. Instead, its regulators will come to see the regulated, rather than the public, as their main clients. They will imagine that industry can police itself. They will party with their private-sector pals and spin happily through the revolving door. And the rest of us will resign ourselves to scandal after scandal, as a new generation of looters rises up to claim positions at the trough when the old looters retire. Indeed—to repurpose an immortal statement by a certain Bush Administration economist—given what we now think we know about the system, it would be irrational for them not to loot....

There is one way, however, in which the changes brought about by 2008 have been permanent—one way in which the center will probably never hold again. We are a society that watched as those who obeyed the rules got played by Wall Street and Washington. And it has not only hardened us, made us more blasé about corruption; it has corrupted us. We be held our powerlessness at the hands of the mighty, and we decided that the thing to do was to make Wall Street even stronger. We accepted our powerlessness and then magnified it. Today we all know that another bubble will soon inflate and burst, but we have chosen to live with that— five years from the last, five years to the next! Just grab your cash and hang on.

MORE...

http://www.truth-out.org/buzzflash/commentary/item/18158-the-doj-has-corrupted-the-rule-of-law-by-not-prosecuting-wall-street-financial-looters

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Arrow 19 replies Author Time Post
Reply The DOJ Has Corrupted the Rule of Law by Not Prosecuting Wall Street Financial Looters (Original post)
Purveyor Aug 2013 OP
Cooley Hurd Aug 2013 #1
MotherPetrie Aug 2013 #2
Squinch Aug 2013 #3
Mnemosyne Aug 2013 #4
johnnyreb Aug 2013 #5
fascisthunter Aug 2013 #6
russspeakeasy Aug 2013 #7
JoeyT Aug 2013 #8
Supersedeas Aug 2013 #19
davidn3600 Aug 2013 #9
Fire Walk With Me Aug 2013 #10
mick063 Aug 2013 #11
liberal_at_heart Aug 2013 #12
Corruption Inc Aug 2013 #13
Supersedeas Aug 2013 #14
indepat Aug 2013 #15
Initech Aug 2013 #16
RainDog Aug 2013 #17
forestpath Aug 2013 #18

Response to Purveyor (Original post)

Fri Aug 23, 2013, 07:45 PM

1. Kicking and recommending this to the moon!!!

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Response to Purveyor (Original post)

Fri Aug 23, 2013, 07:55 PM

2. K&R

 

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Response to Purveyor (Original post)

Fri Aug 23, 2013, 07:55 PM

3. Me too!!! Kicking this all over the place.

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Response to Purveyor (Original post)

Fri Aug 23, 2013, 08:59 PM

4. K&R! nt

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Response to Purveyor (Original post)

Fri Aug 23, 2013, 08:59 PM

5. Everything's ok!

... as long as the music keeps playing.


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Response to Purveyor (Original post)

Fri Aug 23, 2013, 10:42 PM

6. Wall Street feed their pets

the DOJ swims in circles like braindead goldfish.

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Response to Purveyor (Original post)

Fri Aug 23, 2013, 10:49 PM

7. Yes. We had our chance at bat and didn't even take a swing.

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 01:03 AM

8. No one believes in the rule of law anymore, anyway.

It's basically a talking point now. "But we HAVE to prosecute whistleblowers! They broke THE LAW!".

Given that we don't prosecute CEOs, banksters, or war criminals, one would be forgiven for thinking the only "law" we actually enforce is "Don't embarrass the government without offering a sufficient bribe".

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Response to JoeyT (Reply #8)

Sat Aug 24, 2013, 05:44 PM

19. sadly, i think you have a point

As Eric Holder suggested, we are a Nation of Cowards

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 01:07 AM

9. Yet they will chase Snowden around the world

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 01:47 AM

10. Government will not bite the hand which feeds it. n/t

 

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 02:00 AM

11. Democrats own this issue. Sorry for telling the truth.

 

Holder has held his office for over five years.

If he does nothing about it, the argument that Democrats can help the middle class goes out the window. As for now, the middle class is simply a crop to periodically harvest with 401k the perfect seed to plant.


The only thing the Democratic Party has going for it is that the Republicans would be worse.


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Response to Purveyor (Original post)

Sat Aug 24, 2013, 03:38 AM

12. They have also corrupted the rule of law by not prosecuting Cheney, Rumsfeld, and Wolfowitz.

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Response to liberal_at_heart (Reply #12)

Sat Aug 24, 2013, 03:01 PM

13. +1

We're a corrupt nation until torturers and war criminals are prosecuted.

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 03:06 PM

14. combine that with the failure to prosecute members of the prior administration

But, Eric Holder thinks we are a nation of cowards

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 03:27 PM

15. Who the DOJ chooses to prosecute and who it chooses not to prosecute tell us a lot about:

the DOJ's politics, equal justice under the law, the rule of law, the land of the free and home of the brave, the right to life, liberty, and the pursuit of happiness, who the government of the people, by the people, and for the people represent rather than we the people, whose welfare is represented rather than the general welfare.

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 04:18 PM

16. Is the DOJ still stacked with Bush picked Regent University graduates?

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 04:23 PM

17. k&r n/t

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Response to Purveyor (Original post)

Sat Aug 24, 2013, 04:24 PM

18. They're all in it together.

 

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