Thursday, April 10, 2014
How banksters got away with fraud
SEC officials in the US are 'more focused on getting high-paying jobs after their govt service than on (prosecuting) difficult cases' according to a retiring SEC official whose own investigations were squashed. Then the SEC used misleading statistics to 'show' that it was taking action. But this cover-up goes right to the top; Obama lied when he said he would go after those involved in 'abusive lending and packaging of risky mortgages that led to the housing crisis' and 'return to the American values of fair play and (cont p 94)'. Privately he told top Wall Street officials he would protect them, saying 'my administration is the only thing between you and the pitchforks' and 'if I'm going to shield you from public and congressional anger you have to give me something to work with'.