Most Popular
1. Banking Crisis is Stocks Bull Market Buying Opportunity - Nadeem_Walayat
2.The Crypto Signal for the Precious Metals Market - P_Radomski_CFA
3. One Possible Outcome to a New World Order - Raymond_Matison
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
5. Apple AAPL Stock Trend and Earnings Analysis - Nadeem_Walayat
6.AI, Stocks, and Gold Stocks – Connected After All - P_Radomski_CFA
7.Stock Market CHEAT SHEET - - Nadeem_Walayat
8.US Debt Ceiling Crisis Smoke and Mirrors Circus - Nadeem_Walayat
9.Silver Price May Explode - Avi_Gilburt
10.More US Banks Could Collapse -- A Lot More- EWI
Last 7 days
Stock Market Volatility (VIX) - 25th Mar 24
Stock Market Investor Sentiment - 25th Mar 24
The Federal Reserve Didn't Do Anything But It Had Plenty to Say - 25th Mar 24
Stock Market Breadth - 24th Mar 24
Stock Market Margin Debt Indicator - 24th Mar 24
It’s Easy to Scream Stocks Bubble! - 24th Mar 24
Stocks: What to Make of All This Insider Selling- 24th Mar 24
Money Supply Continues To Fall, Economy Worsens – Investors Don’t Care - 24th Mar 24
Get an Edge in the Crypto Market with Order Flow - 24th Mar 24
US Presidential Election Cycle and Recessions - 18th Mar 24
US Recession Already Happened in 2022! - 18th Mar 24
AI can now remember everything you say - 18th Mar 24
Bitcoin Crypto Mania 2024 - MicroStrategy MSTR Blow off Top! - 14th Mar 24
Bitcoin Gravy Train Trend Forecast 2024 - 11th Mar 24
Gold and the Long-Term Inflation Cycle - 11th Mar 24
Fed’s Next Intertest Rate Move might not align with popular consensus - 11th Mar 24
Two Reasons The Fed Manipulates Interest Rates - 11th Mar 24
US Dollar Trend 2024 - 9th Mar 2024
The Bond Trade and Interest Rates - 9th Mar 2024
Investors Don’t Believe the Gold Rally, Still Prefer General Stocks - 9th Mar 2024
Paper Gold Vs. Real Gold: It's Important to Know the Difference - 9th Mar 2024
Stocks: What This "Record Extreme" Indicator May Be Signaling - 9th Mar 2024
My 3 Favorite Trade Setups - Elliott Wave Course - 9th Mar 2024
Bitcoin Crypto Bubble Mania! - 4th Mar 2024
US Interest Rates - When WIll the Fed Pivot - 1st Mar 2024
S&P Stock Market Real Earnings Yield - 29th Feb 2024
US Unemployment is a Fake Statistic - 29th Feb 2024
U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - 29th Feb 2024
What a Breakdown in Silver Mining Stocks! What an Opportunity! - 29th Feb 2024
Why AI will Soon become SA - Synthetic Intelligence - The Machine Learning Megatrend - 29th Feb 2024
Keep Calm and Carry on Buying Quantum AI Tech Stocks - 19th Feb 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Time To Act: A Campaign To Jail Wall Street Fraudsters

Politics / US Politics Nov 10, 2010 - 09:24 AM GMT

By: Danny_Schechter

Politics

“I’ll have the Chateau Mouton-Rothschild from 1982,” a Wall Street investment banker recently told his waiter at the latest and greatest shi-shi restaurant in Greenwich Village.

“Yes sir, but I want you to know, the cost is $$3,950,” according to the New York Times.


“No Problem”

And so it goes at The Lion, where no extravagance is too costly for today’s banksters and Lion Kings.

The men they call the Big Swinging Dicks are back.  In the words of the New York Times, Wall Street is getting its “groove back,” anticipating their latest round of bonuses while gloating about how their strategic and undisclosed campaign donations assured that the overdue regulations they fear will be put on hold.

For them, buying the 2010 election was a small price to pay. Read  Economist James Galbraith’s  column in how they did it. (http://www.newdeal20.org/2010/11/05/obamas-problem-simply-defined-it-was-the-banks-26159)

Oh, happy day.

Meanwhile the rest of us cling to our “jobless recovery” while the prospect of inflation engineered by the Federal Reserve Bank threatens what purchasing power we have.

Increasingly, economists in the know are saying that unless financial fraud is prosecuted, there can be no recovery, as Washington’s Blog reports:

“As economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail.

And Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals - and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future.

Nobel prize winning economist Joseph Stiglitz just agreed. As Stiglitz told Yahoo's Daily Finance on October 20th:

"The legal system is supposed to be the codification of our norms and beliefs, things that we need to make our system work. If the legal system is seen as exploitative, then confidence in our whole system starts eroding. And that's really the problem that's going on."

OUR RESPONSE:  We Don’t Need More Bailouts. We need a Jailout
Support the JAILOUT Economic Justice Campaign by signing the petition at newsdissector.com/blog

We pledge allegiance to Justice for all.  Not to those who steal and defraud us.  Not to those who wrecked our economy.

We need laws enforced, not winked at with financial settlements that allow those that enriched themselves at our expense, and destroyed the lives of so many, to get off scot-free, often with obscene bonuses and promotions.

Now, it is time for all of us to speak out and demand that something is done, to stop foreclosures and create jobs.

We can start with a petition to the President, Attorney General, and political, labor and youth leaders not in the bag to Wall Street.  We can call on the media to do more to cover this story instead of blaming the victims for the crime.

Will you stand up with us and call for action now?

Will you sign this simple appeal to the President, Leaders of Congress of both parties and the Attorney General?

ENOUGH IS ENOUGH

1. Investigate fraudsters and financial criminals.

2. Indict those responsible.

3. Prosecute using RICO laws that target criminal enterprises spawned by three industries working together: finance, insurance and real estate.

4. Incarcerate the guilty.

All of this has been done before. More than 1500 bankers went to jail after the S&L Crisis.

Why not today?

We demand a criminal investigation.

We demand to see the guilty parties indicted. Their illegal gains should be seized and distributed to their victims.

We demand the federal and state governments prosecute these crimes, using RICO laws when possible, not cut deals that allow these crooks to walk free.

We want a national moratorium on foreclosures until all the shady legal issues are sorted out — and not just by the banks

We want our government to be on our side, to stand up for Main Street, not Wall Street.

Please tell us: I am with you. I agree with this call to action,

NAME:

ADDRESS:

CITY, STATE and ZIP CODE

EMAIL:

Educate yourself by ordering a copy of PLUNDER [DVD} and THE CRIME OF OUR TIME [book].  Also available on iTunes, Netflix and Amazon.

News Dissector Danny Schechters film and book Disinformation. For more information, Http://www.plunderhecrimeofourtime.com.

    News Dissector Danny Schechter has made a film and written a book on the “Crime Of Our Time.” (News Dissector.com/plunder.) Comments to dissector@mediachannel.org

    © 2010 Copyright Danny Schechter - All Rights Reserved

    Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in