Wednesday, November 20, 2013

The Privileged Tier

We have two recent cases showing how our two-tiered justice system works. First of all, JP Morgan admits to fraud in the mortgage backed securities market, which also helped bring on the financial crisis in 2008. It will cost the company $13 billion. The fraud was actually committed by Bear Stearns and Washington Mutual, both of which were purchased by JP Morgan knowing full well the baggage that went with them. What's important to note is that nobody is going to jail. The feds prosecuted two Bear Stearns managers but botched it. They were found not guilty. Nobody from Washington Mutual was charged.

Secondly, we have a member of the House of Representatives, Trey Radel (R-FL), who pled guilty to possession of cocaine in Washington, DC. He's getting one year of probation. (Interestingly, Speaker Boehner thinks the issue of resigning his office for committing a crime is between Radel and his constituents. And yet he thought Anthony Weiner should have resigned for sexting, which is embarrassing but not a crime.) Radel admits he has a drug and alcohol problem--now that he's been caught. On a side note, Radel has cosponsored legislation to change mandatory minimum sentences. Now that's planning ahead.


Under His Thumb said...

And even while letting Wall Street off the hook, Obama gives a medal to Bill Clinton, who deregulated the banks.

"I think lifting up families like his own became the story of Bill Clinton’s life," said Obama.

No kidding.

The Clintons have taken hundreds of millions from Wall Street and multinationals since deregulating the banks and signing the anti-labor WTO. Hillary lent that money to her 2008 campaign.

Americans continue to suffer from fallen wages, unemployment, globalized environmental destruction, and predatory elites like the Clintons.

We can't afford more uplift of the Clinton family.

Lordey said...

We'll never be royals. Not like the Obama-Clinton clan.

Chelsea and her Wall Street hubby just flipped a $13 million apartment. Wonder how she got her stake, since she's never really worked a job.

Maybe godfather Geithner threw her some coin from the revolving door job he swore he'd never take?

The feds didn't flub up. They did actually what The O-C ordered them to do. Clinton and Obama are like the alpha and omega of Wall Street corruption and coverup.

The Democrats are heartless and the Republicans are worse. Grey Poupon vs Grey Goose.

We crave a different kind of buzz.