Related Stories
Why Goldman Sachs, Other Wall Street Titans Are Not Being Prosecuted
Key Excerpts from Article on Website of The Daily Beast/Newsweek
Posted: August 21st, 2012
http://www.thedailybeast.com/articles/2012/08/14/why-goldman...
On [August 9] the Department of Justice announced it will not prosecute Goldman Sachs or any of its employees in a financial-fraud probe. Despite the Obama administrations promises to clean up Wall Street in the wake of Americas worst financial crisis, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions. Why is that? In a word: cronyism. Take Goldman Sachs, for example. In 2008, Goldman Sachs employees were among Barack Obamas top campaign contributors, giving a combined $1,013,091. [Attorney General] Eric Holders former law firm, Covington & Burling, also counts Goldman Sachs as one of its clients. Furthermore, in April 2011, when the Senate Permanent Subcommittee on Investigations issued a scathing report detailing Goldmans suspicious Abacus deal, several Goldman executives and their families began flooding Obama campaign coffers with donations, some giving the maximum $35,800. The individuals the DOJs Financial Fraud Enforcement Task Force has placed in its prosecutorial crosshairs seem shockingly small compared with the Wall Street titans the Obama administration promised to bring to justice. To be sure, financial fraud of any kind is wrong and should be prosecuted. But locking up pygmies is hardly the kind of financial-fraud crackdown Americans expected in the wake of the largest financial crisis in U.S. history. Increasingly, there appear to be two sets of rules: one for the average citizen, and another for the connected cronies who rule the inside game.
Note: For deeply revealing reports from reliable major media sources on financial corporations' control over government, see our Banking Bailout archive here.
Related Stories
Latest News
Key News Articles from Years Past
