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Robert Reich To Obama: 'You Wouldn't Let Someone Rob Your Home, Then Hand You $10 To Walk Away' (Original Post) Playinghardball Jan 2012 OP
Kick and Recommend alfredo Jan 2012 #1
...and Obama said.......................? russspeakeasy Jan 2012 #2
Proud to be Rec number 11. n/t truedelphi Jan 2012 #3
I'm Skeptical. Left Coast2020 Jan 2012 #4
Please name the exact crime and exact statute under which you want them to prosecute. RBInMaine Jan 2012 #5
The crime is the Predatory lending that include all kinds of unfair midnight Jan 2012 #6
YOU name the exact laws that make it legal just1voice Jan 2012 #8
what a bollocks comment, the crimes are myriad and well known, you are just trying to get people stockholmer Jan 2012 #12
Those who rely upon the invincible ignorance fallacy will ignore RICO violations, 18 USC 1961-1968 AnotherMcIntosh Jan 2012 #13
Apparently no one can find Kellerfeller Jan 2012 #16
It is the job sulphurdunn Jan 2012 #22
So no lawyers Kellerfeller Jan 2012 #23
Why would any private sulphurdunn Jan 2012 #27
Why would any attorney's defend/represent Kellerfeller Jan 2012 #28
There are lots of attorneys sulphurdunn Jan 2012 #30
I know Kellerfeller Jan 2012 #32
Reuters: Feds Won't Prosecute Banks Despite Evidence Of Crimes ihavenobias Jan 2012 #25
Good article Kellerfeller Jan 2012 #26
How about starting with the following.... xocet Jan 2012 #17
Post removed Post removed Jan 2012 #18
Not necessary for us to do that. The bi-partisan Senate Committee that investigated sabrina 1 Jan 2012 #29
Rule 10b-5 of the Securities Exchange Act of 1934, PA Democrat Jan 2012 #31
Eric Holder is not inept. He is bought. He was a corporate lawyer before he took office and still yurbud Jan 2012 #9
+1 dreamnightwind Jan 2012 #19
Eric Holder is extremely busy investigating parking violations. tclambert Jan 2012 #21
the dear leaders are not concerned with liberal/progressive opinions there Bob. nt msongs Jan 2012 #7
YesHeCan.org doesn't seem to work. Anyone else having any luck? Lionessa Jan 2012 #10
Maybe there's a plan to change it to YesHeCon.org AnotherMcIntosh Jan 2012 #14
Here's a MoveOn Link that does seem to work for finding an event near you. Lionessa Jan 2012 #11
Think the president will check with his new chief of staff or "advisers" first? nonoxy9 Jan 2012 #15
Who contributed most heavily to his [s]election campaign? rawbean Jan 2012 #20
and throw them in the maze esau Jan 2012 #24

Left Coast2020

(2,397 posts)
4. I'm Skeptical.
Tue Jan 17, 2012, 06:11 PM
Jan 2012

This is something that should have taken place a longggggggg time ago--and he hasen't done it yet.
As I've said before, Eric Holder is inept. No incentative or motovation to prosecute whatsoever.

midnight

(26,624 posts)
6. The crime is the Predatory lending that include all kinds of unfair
Tue Jan 17, 2012, 07:11 PM
Jan 2012

banking practices....

"Though there are laws against many of the specific practices commonly identified as predatory, various federal agencies use the term as a catch-all term for many specific illegal activities in the loan industry." http://en.wikipedia.org/wiki/Predatory_lending

 

just1voice

(1,362 posts)
8. YOU name the exact laws that make it legal
Tue Jan 17, 2012, 07:17 PM
Jan 2012

Go ahead, we're all waiting for an expert such as yourself to share the truth.

 

stockholmer

(3,751 posts)
12. what a bollocks comment, the crimes are myriad and well known, you are just trying to get people
Tue Jan 17, 2012, 09:11 PM
Jan 2012

stuck in the weeds. Typical sophistry.

buh-bye

 

Kellerfeller

(397 posts)
16. Apparently no one can find
Tue Jan 17, 2012, 10:36 PM
Jan 2012

the law(s) that was broken. Instead, all they can seem to find is insults toward you for pointing that out.

 

sulphurdunn

(6,891 posts)
22. It is the job
Thu Jan 19, 2012, 07:39 PM
Jan 2012

of criminal lawyers to investigate whether or not laws have been broken and of courts to determine whether or not they actually have been. If there isn't ample reason to investigate possible criminal behavior on Wall Street over what has happened to the American economy it is more likely the result of corruption than any lack of evidence, motive, opportunity or dearth of appropriate criminal statutes. However, a great deal of what was once criminal behavior has been legalized for the benefit of financial institutions by Congress and ignored by the White House, but I'm sure they will rectify that oversight anytime now.

 

Kellerfeller

(397 posts)
23. So no lawyers
Thu Jan 19, 2012, 10:44 PM
Jan 2012

not in "the system" have bothered to see if any laws were broken. That defies belief. The actions people are complaining about are well-known and out in the open. If they have to dig into a lot more detail to try to find something illegal, then it probably isn't as big of a deal as some are making it.

 

sulphurdunn

(6,891 posts)
27. Why would any private
Fri Jan 20, 2012, 01:41 PM
Jan 2012

attorney look into Wall Street corruption if not representing clients who were plaintiffs in a civil suit against Wall Street?

 

sulphurdunn

(6,891 posts)
30. There are lots of attorneys
Fri Jan 20, 2012, 07:35 PM
Jan 2012

working pro bono for OWS, including many from the ACLU. There are none who would do that for Wall Street.

xocet

(3,870 posts)
17. How about starting with the following....
Tue Jan 17, 2012, 11:14 PM
Jan 2012
Why Is Geithner Continuing Paulson's Policy of Violating the Law?
William K. Black, Assoc. Professor, Univ. of Missouri, Kansas City; Sr. regulator during S&L debacle
Posted February 23, 2009 | 03:22 PM (EST)

Whatever happened to the law (Title 12, Sec. 1831o) mandating that banking regulators take "prompt corrective action" to resolve any troubled bank? The law mandates that the administration place troubled banks, well before they become insolvent, in receivership, appoint competent managers, and restrain senior executive compensation (i.e., no bonuses and no raises may be paid to them). The law does not provide that the taxpayers are to bail out troubled banks. Treasury Secretary Paulson and other senior Bush financial regulators flouted the law. (The Office of the Comptroller of the Currency (OCC) and the Office of Thrift Supervision (OTS) are both bureaus within Treasury.) The Bush administration wanted to cover up the depth of the financial crisis that its policies had caused.

Mr. Geithner, as President of the Federal Reserve Bank of New York since October 2003, was one of those senior regulators who failed to take any effective regulatory action to prevent the crisis, but instead covered up its depth. He was supposed to regulate many of the largest bank holding companies in the United States. Far too many of these institutions are now deeply insolvent because the banks they own are deeply insolvent. The law mandated that Geithner and his colleagues place troubled banks in receivership long before they became insolvent. Why are the banking regulators, particularly Treasury Secretary Geithner, continuing to disobey the law?

...

http://www.huffingtonpost.com/william-k-black/why-is-geithner-continuin_b_169234.html


Given that this law is not being upheld, one would think that there would be a way forward from here to further investigation and then to prosecution.

Here is an interview from Bill Moyers Journal with the author of the excerpted article:

Response to RBInMaine (Reply #5)

sabrina 1

(62,325 posts)
29. Not necessary for us to do that. The bi-partisan Senate Committee that investigated
Fri Jan 20, 2012, 06:55 PM
Jan 2012

the causes of the Financial Meltdown issued their report a few months ago. They referred it to the DOJ stating that there was evidence of 'criminal activities' that led to the collapse.

Do you know what happened to that report? I read it, it is long and detailed, a lot of work went into it. But since it was released, we have heard no more about it.


PA Democrat

(13,225 posts)
31. Rule 10b-5 of the Securities Exchange Act of 1934,
Fri Jan 20, 2012, 08:40 PM
Jan 2012

Section 11 and Section 12(a)(2) of the Securities Exchange Act of 1933, and the Employmee Retirement Income Security Act (ERISA) to name a few.

http://taft.law.uc.edu/CCL/34ActRls/rule10b-5.html

http://www.sec.gov/about/laws/sa33.pdf

yurbud

(39,405 posts)
9. Eric Holder is not inept. He is bought. He was a corporate lawyer before he took office and still
Tue Jan 17, 2012, 07:58 PM
Jan 2012

is IN office.

dreamnightwind

(4,775 posts)
19. +1
Wed Jan 18, 2012, 01:02 AM
Jan 2012

I don't like it when clearly competent and intelligent people are called "incompetent" or "inept" just because a presumed objective is not met. It leads to a resigned shrug of the shoulders, like "they're all a bunch of idiots", "too bad they're not as smart as most of us, they would surely do the right thing if they were", or thinking along those lines.

The truth is usually worse than incompetence. It's usually a matter of not understanding the person's situation or intent. In this case, Holder is quite capable of sniffing out criminal behavior in the financial system, he just doesn't want to do it, for whatever reason.

And let me head off the inevitable "it was all made legal before the crimes were committed" argument before it is offered as an excuse. William Black has pretty thoroughly debunked that argument, and he should know.

tclambert

(11,080 posts)
21. Eric Holder is extremely busy investigating parking violations.
Thu Jan 19, 2012, 06:32 PM
Jan 2012

War crimes, multi-billion dollar financial crimes, and prisoners held without trial for many years . . . those will just have to wait until he finishes his higher priority missions.

 

Lionessa

(3,894 posts)
10. YesHeCan.org doesn't seem to work. Anyone else having any luck?
Tue Jan 17, 2012, 08:47 PM
Jan 2012

Maybe it's the browser, I'll try a diff one, but so far it says it cannot be found.

nonoxy9

(236 posts)
15. Think the president will check with his new chief of staff or "advisers" first?
Tue Jan 17, 2012, 10:08 PM
Jan 2012
Then when he ignores us again he can just blame them...
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