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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region Forums"Corporate criminals gone wild" by Andrew Leonard at Salon
Corporate criminals gone wildby Andrew Leonard at Salon
The maker of the documentary film "Inside Job" has a new book excoriating Wall Street -- and President Obama
http://www.salon.com/2012/05/18/corporate_criminals_gone_wild/singleton/
"SNIP................................................
If you have already got 96 percent of what you want, Ferguson told Salon, why not take the remaining 4? Thats where the culture of American finance is right now, and I think its really dangerous for the country.
For at least 30 years the United States has been headed on the wrong track, handing over more power and wealth to a tiny percent of the American population at the expense of everyone else. But Fergusons story isnt just focused on the greed and recklessness of the elite. Its also about their criminality. The bankers who wrecked the financial system broke the law. And yet, amazingly, not only have the vast majority of responsible parties not been convicted of any crime they havent even been charged. There have been a few settlements of fraud allegations with the Securities and Exchange Commission and other regulatory bodies and a smattering of slap-on-the-wrist fines, but nothing that comes close to a proper reckoning for the massive hardship and economic destruction that they caused.
Fergusons glowering rage spares neither political party. Clinton gets the blame for completing the process of financial sector deregulation, and George W. Bush is lacerated for his general incompetence. But Barack Obama is showered with a particularly aggrieved contempt. Obama, writes Ferguson, came into office with more hope invested in him than in any recent leader, and then proceeded to betray and screw his supporters by declining to bring Wall Street to account for its misdeeds.
Predator Nation hits bookstores on Monday, just in time to cash in on the headlines generated by the latest banking atrocity JPMorgan Chases massively failed derivatives bet.
..................................................SNIP"
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"Corporate criminals gone wild" by Andrew Leonard at Salon (Original Post)
applegrove
Jun 2012
OP
woo me with science
(32,139 posts)1. DU Rec
Last edited Sat Jun 9, 2012, 11:33 PM - Edit history (1)
People are waking up to the depth and pervasiveness of this corruption.
Reality is ugly, but you cannot fix a problem you refuse to acknowledge.
Quantess
(27,630 posts)2. It only seems to be getting worse, as the USA slides rapidly from the top.
K & R
Phhhtttt
(70 posts)3. White collar criminals get a free pass while pot smokers are prosecuted. NT