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I've originated mortgages since Reagan was prez. No banker went to jail, but 1000's of peons who followed the orders had their lives destroyed. Obama the Senator praised giving everyone a loan that could suck air through their nostrils.
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
Prosecute them for what?
Making bad loans under pressure from community organizers?
wall street was undone by its own smarts, as the very complexity of mortgage-backed securities meant that no one figured out how to price them in a declining market
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
I've originated mortgages since Reagan was prez. No banker went to jail, but 1000's of peons who followed the orders had their lives destroyed. Obama the Senator praised giving everyone a loan that could suck air through their nostrils.
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
Well... yeah. Obama was right on that. You can't just redefine what is legal and illegal, after the fact, because you don't like the outcome.
Trust me, you don't want to live in a world, where they can make something you did 10 years ago illegal, and go to prison for it today.
Further, that isn't even the truth. What Obama said was simply a cover to avoid the real reason, which is the moment they tried to send bankers to prison for their action between 1997, and 2007, those bankers would have fought that in court, with all the documents showing the US government sued them, and forced them, and encouraged them to do those actions.
Obama himself would be called to witness that he sued banks like citigroup to make bad loans in the 1990s.
The Democrats knew that by dropping this, that left-wingers would be more mindlessly angry at the banks, than the government, and never take the time to find out the government was behind everything.
Prosecute them for what?
Making bad loans under pressure from community organizers?
Obama totally failed us here. He ran on prosecuting the bankers while telling the bankers behind closed doors to ignore his rhetoric.
He is sadly admitting here it was all a lie. And people ask why people accept Trump's lies. Those who do something themselves really have little room to condemn others for the same.
The loans were handed out under Bush and the agreement to do so was created under Clinton. Obama was simply part III.
The "right" didn't want him to prosecute anyone either but indeed it was something he lied about and is still lying about. It damaged the economy by not holding those who clearly broke our laws accountable.
Prosecute them for what?
Making bad loans under pressure from community organizers?
Again, the crisis wasn't caused by poor people getting homes, very few of whom defaulted.
The problem was middle class people buying McMansions they couldn't afford hoping to flip them, followed by the banks selling the bad mortgages off as "investments" they misrepresented the value of.
As a practical matter, though, no, it was probably impossible to prosecute the banksters, as they had deep pockets and the laws were as murky as mud.
Obama totally failed us here. He ran on prosecuting the bankers while telling the bankers behind closed doors to ignore his rhetoric.
He is sadly admitting here it was all a lie. And people ask why people accept Trump's lies. Those who do something themselves really have little room to condemn others for the same.
No Problem, Comrade Bernie would have started People's Tribunals that would have prosecuted these banksters for crimes against the Proletariat, while we all sang a rendition of "The International" while watching the economy collapse. Then we could all eat our dogs like they do in Venezuela.
View attachment 416947
Pictured "Democratic Socialism"
The loans were handed out under Bush and the agreement to do so was created under Clinton. Obama was simply part III.
The "right" didn't want him to prosecute anyone either but indeed it was something he lied about and is still lying about. It damaged the economy by not holding those who clearly broke our laws accountable.
Here's the problem... if we prosecute the banksters, we'd have to prosecute every middle class nitwit who bought a McMansion thinking they could pull a Chip and Joana and flip it after a one hour episode.
Agreed. Like many things in this country, it was all a scam. The scammers included government, politicians, and big business/banks.
can’t stop thinking about Barack Obama insisting that his decision to not prosecute Wall Street executives after they destroyed millions of lives was an honorable and moral defense of the social order
Well... yeah. Obama was right on that. You can't just redefine what is legal and illegal, after the fact, because you don't like the outcome.
Trust me, you don't want to live in a world, where they can make something you did 10 years ago illegal, and go to prison for it today.
Further, that isn't even the truth. What Obama said was simply a cover to avoid the real reason, which is the moment they tried to send bankers to prison for their action between 1997, and 2007, those bankers would have fought that in court, with all the documents showing the US government sued them, and forced them, and encouraged them to do those actions.
Obama himself would be called to witness that he sued banks like citigroup to make bad loans in the 1990s.
The Democrats knew that by dropping this, that left-wingers would be more mindlessly angry at the banks, than the government, and never take the time to find out the government was behind everything.
