Who really unchained Wall Street?
In keeping with the left's blaxploitation enterprise, white Northerner Joe Biden feigned the hemistichical rhythm of a Southern black preacher for his largely black audience in Virginia yesterday:
They've said it. Every Republican's voted for it. Look at what they value and look at their budget and what they're proposing. Romney wants to let the-he said in the first 100 days, he's going to let the big banks once again write their own rules. Unchain Wall Street! They gawn' put y'all back in chains.
For all the bluster of Obama, pre- and post-2008, as well as that of Attorney General Eric Holder concerning the alleged criminal activities on Wall Street, there have been zero Wall Street prosecutions under Obama/Holder. Compare that with his predecessors Bush and Clinton:
GAI [Government Accountability Institute] details how the George W. Bush and Bill Clinton administrations both actually took down financial criminals - unlike the Obama administration. Between 2002 and 2008, for instance, GAI points out how a Bush administration task force "obtained over 1,300 corporate fraud convictions, including those of over 130 corporate vice presidents and over 200 CEOs and corporate presidents."
"Clinton's DOJ prosecuted over 1,800 S&L (savings and loans) executives, senior officials, and directors, and over 1,000 of them were sent to jail," GAI adds.
But, despite having "promised more of the same," especially in the wake of the 2008 financial crisis, the Obama administration's DOJ has not brought criminal charges against a single major Wall Street executive.
The Bush and Clinton administrations' track records on prosecuting white-collar crime, and the Obama administration's failure to do so, Schweizer said, is "evidence that this has less to do with some sort of partisan or philosophical issue."
Bush - 1,300 convictions;
Clinton - 1,000 convictions;
Obama - Zero attempts.
And why the difference in prosecuting the law? The GAI report reveals that the Department of Justice upper echelon is stacked with attorneys, including Eric Holder, from law firms representing the very same companies involved in the financial meltdown of 2008, as well as financial corporations with questionable actions during the Obama administration...AIG, Goldman Sachs, Wells Fargo, J.P. Morgan Chase, Bank of America, CitiBank, Deutsche Bank, ING, Morgan Stanley, UBS, Wilmington Trust, and John Corzine's MF Global.
These very same DoJ attorneys also happen to be some of Obama's biggest bundlers for Obama's 2008 bid for president.
"When we think of cronyism and the problems of cronyism and crony capitalism, we think in terms of economic loss and gain," Schweizer said in a phone interview. "What we're showing here is that cronyism is now permeating our justice system. So, it's not just a question of dollars and cents, it's a question of whether you're going to face legal jeopardy or not on what you're doing."
Unchain Wall Street, Joe? There is no more corrupt and capricious "unchaining" of Wall Street that President Romney could possibly effect. Under Obama and Holder, "the chains" are dependent on not the Rule of Law, but rather the Law(lessness) of Men.
Jean-Claude Groulx is a pen name.