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Author Topic: "Taxpayers got the bill. Bankers got benefits."  (Read 685 times)
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WhiskeyGirl
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« on: September 25, 2012, 06:00:48 PM »

"TARP Bailout Fraud: Where Did the Money Go?"

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Cooperate and get rich. Don’t and lose out. At first, he “had no idea that the US government had been captured by” bankers. He was “shocked (at) how much control” they have over policy on their own terms. Treasury goes along deferentially. Republicans or Democrats agree on core issues.

...

Stoller calls “Bailout” an account of “the importance of Congressional oversight in reigning in corruption, and the problems of our imperial Presidency.”

Barofsky hoped for press and congressional attention. “Our message was simple,” he said. “Treasury’s desperate attempt to bail out Wall Street was setting the country up for potentially catastrophic losses.”

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Taxpayers got the bill. Bankers got benefits. So did lobbyists and go-along politicians. The combination of Treasury criminality, White House complicity, congressional laxity, and regulatory failure keeps the dirty game going.

Since crisis conditions erupted five years ago, ordinary people were sold out and lied to. Obama exceeded the worst Bush administration policies. Political corruption is rampant.

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Barofsky believes Geithner, complicit officials, and Wall Street crooks should be fired and prosecuted. Don’t expect it as long as criminals run America.

Five years after crisis conditions erupted, no top Wall Street or government official faced charges. Unaccountability is institutionalized. An eventual greater crisis looms. Unresolved problems assure it. When is anyone’s guess.

read more here - http://www.marketoracle.co.uk/Article36645.html

This is a book review of sorts.  After all these years, why hasn't anyone gone to jail for the 'crisis'?  The looting of Main Street?  Union pensions?

Bernie Madoff went to jail...
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