U.S. Won’t Prosecute Goldman Sachs, Employees Over CDO Deals

[jtuck004]

23. S&L officials went to prison for these very actions

Last edited Fri Aug 10, 2012, 12:14 PM - Edit history (1)

in the 80's. From failing to properly underwrite loans, to interest rates for black people higher than for whites, to the fraud of the rating agencies, their work was quite clearly criminal, and the American people are still paying for it. They have destroyed more lives than any movie theater shooter or building bomber here has ever dreamed of doing, and the current administration refused to fund the investigative arms of the FBI (like the did for the S&L fraud) and let these banks (who contributed large amounts to their political campaigns). Perhaps they hope that by kicking the can down the road they can keep everyone from just going crazy mad.

Remember, this president told the banks in 2009 "I am the one standing between you and the pitchforks"? That tell you who he thinks is more important? On he other hand, they HAVE closed down and arrested people trying to sell marijuana to the ill and dying. Real leadership in action, eh?.

They industry perpetuated a massive control fraud, on top of the instances where there is out and out ordinary criminal fraud, and the only reason they are not in jail is because the administration and other elected officials, who got BIG money for their campaigns from these people, along with their too fat and lazy constituency, may have been too afraid of living with the consequences. Perhaps it is easier to coast and leave everyone at the mercy of these greedy and dishonest bastards than it is to stand up and go after them.

William Black spent years in the government building cases and jailing those folks, and has explained how the fraud was carried out, and how we deliberately have withheld funding from the very investigative agencies that would handle this.

http://www.creditwritedowns.com/2012/02/william-k-black-explains-control-fraud-at-length.html You can listen to him here, he has books out, etc.`Naked Capitalism has some good information too.

And now we are getting exactly what we deserve.