Financial Scandal Scorecard

It seems as if it was only a couple of days ago that an entry was posted on this blog about the lack of punishment as it relates to institutional fraud. This is from the New York Times and it updates that entry with new and more relavant information. Financial Scandal Scorecard

Oliver Stone did a good job of portraying the culture that would lead up to the crash in his two movies prior to and after the crash:  Wall Street (1987) and Wall Street: Money Never Sleeps (2010)

FRONTLINE: Money, Power and Wall Street DVD did a four hour program on the corruption and relationship between money, banking and government. That lead up to the crash. I have often seen it written that President Obama had no idea as to the scope and etc of the issue when he took office but as front line points out:  “…Then, in Hour Two, FRONTLINE producer Michael Kirk (Inside the Meldown, The Warning) investigates how the country’s leaders failed to prevent an oncoming crisis and ended up initiating the largest government bailout in history. Told by participants from Washington and Wall Street, the story includes inside accounts from the campaign of presidential candidate Barack Obama. By the time of his election Obama is thoroughly up to speed on the disaster, but the question remains–what can he do once he takes office?…’ The question was never what he could do but what was he willing to do. After all, he still had a second term to run for and there is no doubt he needed Wall Street to back him as they did in his first term.

Talking of money and politics: as an end note that points to the clear relationship of the interaction between politics, campaign donations and federal dollars there is this Solyndra figures attend swank Obama fundraiser. Now, you would think that there would be more care and caution in an election year but then there is no shame but it is just business as usual.

This is not the end of the scandals tied to green. From the senate we have Costs, conflicts arise in Reid push for green power. Then there is the question of a strong offense to keep the press from looking too closely.No more Mittster nice guy!

Just goes to show that the US government is the biggest money laundering business in the world and it is oh so legal.

This addition comes a couple of days later but is relevant nonetheless. Drug money funds voter fraud in Kentucky.  To this I would like to add two points. First is that it is seldom viewed where actual cases of drug money funding elections but this is a clear cut case. One can argue that this is a small backwards town where corruption has been a way of life for generations and that may be so. However, there is a positive and direct link between the drug money and elections.

When I was a young Special Forces officer in Colombia during the early 70s, I was talking with a Colombian army colonel about the drug traffickers. I asked why the army did not go after the drug dealers. He said that they could wipe them out without a problem but that they would not do it till they could get permission from the president. He went on to say that they had gone to the president but said the price would be over half his majority in the legislature was funded by the traffickers and that they would have to go to jail. He said no.

So, we know the traffickers weaved their way into one democratic government and there is no reason they have not done this in other places as is the case in point in the article. Crude but clear. The open question is how deep are the tentacles. We do know that they run deep in the banking industry. We know Wall Street is deep into the pockets of both Democratic and Republican parties. The conclusion is clear.

REVEALED: Corzine’s MF Global Was Client of Eric Holder’s Law Firm : ‘…Those wondering why the Department of Justice has refused to go after Jon Corzine for the vaporization of $1.6 billion in MF Global client funds need look no further than the documents uncovered by the Government Accountability Institute that reveal that the now-defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling….’ and the beat goes on.

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