| |||||
Taibbi A veritable mountain of evidence indicates that when it comes to Wall Street, the justice system not only sucks at punishing financial criminals, it has actually evolved into a highly effective mechanism for protecting financial criminals. This institutional reality has absolutely nothing to do with politics or ideology — it takes place no [...] William Black on the lack of criminal prosecutions by DOJ What has gone so catastrophically wrong with DOJ, and why has it continued so long? The fundamental flaw is that DOJ’s senior leadership cannot conceive of elite bankers as criminals. The feds confuse the bank with the banker. The bankers walk away with personal [...] Guan Jianzhong, chairman of Dagong Global Credit Rating to Financial Times “The western rating agencies are politicised and highly ideological and they do not adhere to objective standards.” “The financial crisis was caused because rating agencies didn’t properly disclose risk and this brought the entire US financial system to the verge of collapse, causing huge [...] PBS has the video and a full transcript. Here’s an excerpt. Bill Moyers: Bill, are you describing a political culture, that is criminogenic? William K. Black: It’s deeply criminogenic. And this ideology that both parties are dominated by that says, “No, big corporations wouldn’t cheat. Fraud can’t happen. Market’s automatically excluded,” is insane. We [...] PBS. Emphasis added. William K. Black thinks President Obama didn’t acknowledge a key component in the financial crisis that the bills before Congress won’t address — fraud. A former regulator who helped crack down on massive fraud during the savings and loan crisis in the 1980s, Black tells Bill Moyers on The Journal that, [...] DJ, in comments here, refers to a TruthOut article Someone forwarded me this link: American Kleptocracy: How Fears of Socialism and Fascism Hide Naked Theft. It suggests that the fascism/socialism hysteria are red herrings to keep us busy while corporations loot the treasury. Funny, I said the same thing a few weeks back. And kleptocracy [...] |  | ||||
Copyright © 2012 Politics in the Zeros - All Rights Reserved | |||||
Recent Comments