Thursday, December 9, 2010

Obama Administration Lies About Prosecuting Wall Street Fraud

I want to strongly recommend this article at the Columbia Journalism Review, which recounts several other pieces detailing the sham which is Obama's prosecution of Wall Street crime.  Here is a small excerpt:

"The Obama Administration’s Financial-Fraud Stunt Backfires...The New York Times’s Andrew Ross Sorkin called out Eric Holder’s Justice Department on Monday, noting that the 343 criminal defendants it said it’s prosecuting in a sweep it lamely calls Operation Broken Trust are small fry. No executive from the major corporations (like, oh, AIG, Lehman Brothers, Washington Mutual, Countrywide, Ameriquest, etc.) has yet been charged."

And what's more, there is plenty of evidence in this article to convince anyone that even the accounting of cases they are supposedly prosecuting is grossly inflated, including many cases that have nothing to do with the real issues, but which were included to pump up the numbers and further delude the American people into thinking that Obama is serious about preventing Wall Street greed from sending us into another depression.  At this point, Obama's claim that he prevented another depression needs to be rewritten:  he has postponed the depression. Unless he takes real action to stop the criminals on Wall Street from repeating their behavior of recent years, that depression is still on the menu.

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