Justice Department Defends Giving Banksters Immunity From Prosecution
The Justice Department has taken strong criticism for failing to prosecute the Wall Street criminals who engineered the global economic recession. As most people know by now, Wall Street speculators helped create a housing bubble using sub-prime loans, made billions from the loans, then left a huge financial mess for average American taxpayers to clean up. But instead of being prosecuted, the Justice Department has, by and large, given bankers a “get out of jail free” card.
Photo Credit: Donkey Hotey/Flickr
AllGov.com reports:
At a time when critics have accused the Obama administration of not being tougher on Wall Street, a top Department of Justice official publicly defended the increasing use of deferred-prosecution agreements for white-collar criminals. These agreements allow corporations and their executives who have committed fraud to avoid criminal charges in exchange for admitting wrongdoing and paying fines.
Ordinary people, on the other hand, would never be allowed to take advantage of ”deferred prosecution agreements”. It seems that there are now two rules of law, one for regular people and one for the elite.
The Justice Department has defended its decision not to prosecute white-collar criminals by asserting that agreements which allow them to pay fines instead of doing hard time actually work:
Lanny Breuer, chief of the Justice Department’s criminal division, said in a speech before the New York City Bar Association on September 13 that the agreements have had “a transformative effect on particular companies and, more generally, on corporate culture across the globe.”
But if you knew that you could run a scam that would net you a billion dollars, but you would only be forced to pay back a portion of that, would a fine deter you? Or would you just consider that the cost of doing business?
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No justice, no peace.
What’s new about this? This is the way things work here. White collar crime, no matter how destructive, rarely gets punished the way so called blue collar crime does. President Obama is a politician and he plays the game. I wish people would remember that.
Shame on Eric for supporting those crooks. we should go out and commit white collar crime and see if prosecutors allow us to get away with it as long as we pay back a small portion of what has been gained. That’s a sweet deal. These Negroes have learned well from the white establishment. What’s next?
ALL those negroids on capitol hill are pawns! He has NO POWER, and he’s a Boule’ negro, so go figure!
We must stop getting excited because a negro is appointed to a high office; they’re still CONTROLLED! Eric can’t say nothing about how our Black youth, especially Black men are getting KILLED, INCARCERATED, AND BEATEN by the organization he is ‘suppose’ to be over…Justice Department! WHERE IS HIS POWER? WHERE IS OUR JUSTICE?
These Boule’ negroids are working for the government and DEPEND on the government to PAY THEM! They can ruffle some feathers, but they will NEVER be able to ‘wring some necks’.
KEEP VOTING…WHAT GOOD HAS IT DONE?
BAM! Preach!
Lock these Greedy a*s Crackers up with the Quickness! They not giving Pardons out to our People! So lock that a*s up! What u crying for you got money lol
All people work on incentives. Big risks at another’s expense creates a huge incentive for Wall Streeters to milk the economic system for all they can get. Add to that a “You’ve been a bad boy or girl” note (i.e., Deferred Prosecution Agreement) and there is adsolutely no deterrence or real change in behavior. The next economic meltdown is right around the corner – GET READY!
this behavior on the part of the government officials is indicative of the fact that The Fed (wall street bankers, etc) have POWER OVER THE GOVERNMENT, and is not under any laws that may prevail against them. Alan Greenspan said that thee relationship doesn’t matter (President, whoever), The Fed can do whatever they desire.
Please put them in jail attorney general Holder. WHat is the problem. You are brought and paid for, how do you sleep at night? Probably fine, your sleeping with the enemy. It is difficult for me as a strong black intelligent woman to understand why you as a politician don’t at some point take a stand, and put your foot down, stop being a p***y to these white gangsters. SO what you will lose your job, so what you will have to move to a new neighborhood, so what, you still will have your soul. Where is your faith, where is your b***s. I just don’t get it. People of all races, creeds and color are suffering because of these criminals illegal acts, yet you will let the majority suffer and the rich get a fine and be free to steal more from the majority voting population. America wake up, don’t vote any of these chick policitians back into office. I must admit, the Republicans have b***s, they just say any d**n thing that they feel, and they are still voted in. Cannot Obama, Holder, etc. just say any d**n thing, we will vote you back in. Especially the 47% Romney said would vote for Obama no matter what and the other 4% will just vote for the h**l of it to get Obama back in. Holder and Obama need to understand, the public is tired of your shuffling.
LaVerne
Note, still vote for Obama, Holder can be replaced.