On Thursday, April 22, President Barack Obama made the case for increased regulation of the financial industry in a televised speech at Cooper Union in New York City. It was widely billed as President Obama’s chance to harness the momentum behind reforming Wall Street and move forward the bills being considered in the House and Senate. Those measures face stiff opposition from most of the Republican Party and an army of lobbyists from Wall Street who have the ear of members of Congress on both sides of the aisle.
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, despite evidence of fraud at the top banks, prosecutions seem far away. “If you go back to the savings and loan debacle, we got more than a thousand felony convictions of the elite. These are not, you know, tellers or something. We today have zero convictions, zero indictments, zero arrests of any of the elite, non-prime lenders that, through their fraud, drove this crisis.”
Be sure to watch the video or read the transcript above…
Hey if this relly is fraud , why didn’t the fbi stop the fraud , in 2004 .if its relly the” f ” because if its that , and its still going the ow the hold world for this anybody who’s name on those bank account . From 2000 up 2011 . They didn’t never let nobody no this was fraud . . . Its to long of a wait on this kind of fraud , people dieing ,and going crazy from this fraud need to stop before something bad happen .
If you wonder how the banksters and their attorneys can break the law and get away with it, see Why Does the Government Ignore Our Wishes? at http://dailycensored.com/2009/09/11/why-does-the-government-ignore-our-wishes/ and don’t miss my 18 minute speech.
If you take a look, you’ll learn why they get away with violating our rights, abusing their power, and committing horrible crimes. My article on torture includes a link to the U.S. Supreme Court case which explains how one of our stolen rights makes the difference between justice and injustice, between freedom and slavery.