After years of allowing CEOs, and other crooked executives of Wall Street firms, to steal trillions of dollars and get away with it, Obama’s Justice Department issued a memo that’s going to cause widespread panic among the scumbag Banksters that destroyed the economy:
WASHINGTON — Stung by years of criticism that it has coddled Wall Street criminals, the Justice Department issued new policies on Wednesday that prioritize the prosecution of individual employees — not just their companies — and put pressure on corporations to turn over evidence against their executives.
The new rules, issued in a memo to federal prosecutors nationwide, are the first major policy announcement by Attorney General Loretta E. Lynch since she took office in April. The memo is a tacit acknowledgment of criticism that despite securing record fines from major corporations, the Justice Department under President Obama has punished few executives involved in the housing crisis, the financial meltdown and corporate scandals.
And that pressure on the corporations will work, too. Wall Street has created a culture where profits are everything, dog eat dog, no honor among thieves and all that. If the bottom line is threatened, these criminal enterprises will throw anyone and everyone under the bus. No one will be safe, not even the CEOs. Money talks and a threat to that money gets a perp walk.
This may seem like an abrupt about-face on policy from the White House but it really isn’t. Obama has been quietly declaring war on Wall Street for some time now, you haven’t heard about it because the “liberal” media has been mostly ignoring it. You see, a funny thing happened after 2012 when the Banksters decided to throw all of their money at the Republicans in order to punish the Democrats: Obama stopped protecting them.
Suddenly, the DoJ, the SEC and a bunch of other government acronyms started coming down on the banks like a ton of bricks. The banks were getting slapped with the largest fines in history. Even more importantly, the banks were slapped with huge fines AND they had to admit to criminal wrongdoing. Previously, they would pay a fine that was only a fraction of the money they stole and didn’t have to admit to anything.
Imagine you break into a house and steal $10,000. The police slap you on the wrist, make you pay a $100 fine and you’re sent on your way with no criminal record. Why WOULDN’T you keep robbing houses? And that’s how we’ve been treating Wall Street for decades. They’re so used to getting away with it, they don’t even bother covering their tracks. Which is now going to bite them in the ass.
“Corporations can only commit crimes through flesh-and-blood people,” Sally Q. Yates, the deputy attorney general and the author of the memo, said in an interview on Wednesday. “It’s only fair that the people who are responsible for committing those crimes be held accountable. The public needs to have confidence that there is one system of justice and it applies equally regardless of whether that crime occurs on a street corner or in a boardroom.”
After the Financial Collapse of 2008-2009, Wall Street went right on stealing and cheating. It’s not like anyone important went to jail, right? The only lesson they learned is that there’s no personal consequences for greed, so the corporate culture continued to be deeply corrupt. The only way to fix it is to start throwing people in jail and now we are.
Sure, Republicans will scream about class warfare and other nonsense, but we’ll send a poor black kid to jail for 10 years for stealing a $200 TV. I think it would be quite fair to send a Wall Street fat cat to jail just as long for stealing $200 million. I think most non-rich people would agree.
The rich and powerful have had quite the good time at we the people’s expense. Perhaps the shock of seeing some of their 1% buddies in jailhouse orange will make them reconsider destroying the lives of millions of hardworking people just so they can buy a third super yacht.
Feature image via Monopoly Wiki