Inside Job-Wall Street Crimes
One of Barack Obama’s promises was to regulate Wall Street which ended in a watered down bill that still will not prevent the crimes on Wall Street from occurring again.
Barack Obama then made a deal with the devil and signed an agreement for 20 billion dollars only for the trillions that Wall Street stole from investors.
The deal agrees that no further prosecution of Wall Street CEO’s, investment salesmen, or any bank staff will be put in jail for their crimes. A sweet deal for Wall Street, by none other than the President of the United States granting a full pardon to the criminals who continue to run our major banks.
How absurd is Obama when the amount of money lost and stole amount to trillions and 20 billion represents only less than one percent of one percent as a payback for stolen money?
This means Wall Street bankers get to keep the investments they made on defaulted mortgages in their Cayman Bank accounts.
Outrageously, Obama believes this is a good deal, and with a cheap suit he attempts to talk the democrats into accepting this deal but the republicans couldn’t be happier with their friends on Wall Street.
The worst part is that the banks will whittle down the 20 billion so they will end up paying far less in the end after the deal is completed.
The only hold up is Eric Schneiderman the New York Attorney General who has conducted his own investigation into the securities fraud and he is unwilling to let Wall Street off the hook like Obama is doing.
Up until Schneiderman, Eliot Spitzer was the only NY State Attorney General who went after AIG, Goldman, Bank of America and the other criminal activities that occurred before the 2008 meltdown.
Obama is on the side of Wall Street, hoping for a quick, easy settlement that isn’t nearly enough money for the fraudulent stealing.
In November 2008, one claim alone from The State Board Administration of Florida is worth 62 billion to a pension fund that lost all their assets.
If Obama was seriously going to prevent the 2008 meltdown from happening again he would have ensured that the underwriting of mortgages in the secondary markets are scrutinized by the government entirely with laws that have teeth for criminal mortgage banks.
If Obama was truly serious, he would have charged these CEO’s and put them in jail, firing them from their positions of power and break up the old boys club on Wall Street.
He failed to do both and continues to be in bed with Wall Street banks for campaign contributions for his next election. Did we get Change we Can Believe In?
Illustration By David Dees
Academy Award nominee Charles Ferguson (No End in Sight) takes us back to the beginning and reveals the truth about what really happened in the 2008 financial US meltdown that was a self-induced economic disaster.
If you’re not enraged by the end of the movie- you weren’t paying attention!
Trillions of dollars were stolen from investors and fraudulent derivatives were sold with bets on both ends -win or lose-Wall Street made money on fraud.
A must see movie about the truth of how Wall Street runs the government with money. The current administration is no exception and it doesn’t matter who is in power, corruption runs freely in Washington in both parties. Narration by Matt Damon, filmed in: USA, Iceland, UK, France, Singapore and China.
Inside Job -The Movie