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Obama On Wall Street Fraud

Bank fraud, prosecution, and rule of law.

Flashback.  Just discovered this clip.  White House press conference from October 2011, otherwise known as 'presidential lip service to Occupy Wall Street.'

Transcript is here...



Ratigan clip on Occupy Wall Street from the same week:

David DeGraw and William Black with Dylan Ratigan.

'We put the Treasury up for auction and Goldman Sachs was the highest bidder.'


Degraw, an organizer of Occupy Wall Street says:

  • "The Wall Street protests are a rejection of the failed Left-Right Paradigm.  Both parties are to blame and both are owned by the big banks."

Black says:

  • "The first thing we have to do is fire Tim Geithner, Eric Holder and force Ben Bernanke to resign.  There is no excuse for not prosecuting all 20 of the largest banks for obvious and demonstrable fraud.  Where is Paul Krugman and his use of the F-word, FRAUD!"



More fraud:



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Reader Comments (6)

Bill Black: The Banks Are Still Insolvent, And Obama Is Not Only Covering It Up, He's Taking Credit!


Fictional Accounting Allows Insolvent Banks To Pay Billions In Bonuses
Mar 14, 2013 at 11:54 PM | Registered CommenterDailyBail
Mar 15, 2013 at 12:54 PM | Registered CommenterDailyBail
The hidden world under the sea: Scientists find 'parallel universe' of life INSIDE the basalt of the oceanic crust

Mar 15, 2013 at 12:55 PM | Registered CommenterDailyBail
Debt is the fulcrum of controlling labor in a peonage system. The financial cartels have evaporated large portions of retirement savings through fraudulently rated bundled securities,

The government endorses the manner of business through bailouts (future taxes, i.e. debt) and failures to prosecute (i.e. reward for bad conduct).

The people become convinced that S.S. which they pay for is an entitlement and government abuse of the fund is the norm to be encouraged and protected.

And governmental debt creation remains uncontrollable...

A peonage system is that which I am afraid we are becoming. Despite the fact that it is illegal, but what is the law in these times?
Mar 16, 2013 at 2:53 AM | Unregistered CommenterS. Gompers
"A peonage system is that which I am afraid we are becoming. Despite the fact that it is illegal, but what is the law in these times?"

Right on as usual Gompers, although I think "are becoming" should be (have become).

It seems the elite have decided Rule Under Law (no one is above the law) in the U.S.A. only applies to the peons. The elite and their minions are immune from investigation, prosecution, or penalty for criminal acts that imprison peons for years.

So I guess "law in these times" is Lower Law, Have Not Law, or Peon Law.

Wonder if the peons are ever going to get peed off enough to do anything about that?
Mar 16, 2013 at 5:59 PM | Unregistered CommenterSagebrush
Unfortunately Sagebrush I don't think the people think it is even possible in America even though the peonage system thrived in America after the civil war into the early 1900's. Some of America's greatest corporations bottom lines were built on the slave labor of the peonage system. And many were falsely arrested, tried, and sold into slavery in order to work off debts they truly owed, or were falsely accused of owing.


I don't feel we are truly there yet, but we are definitely on the road to it. And the government is certainly doing its fair share to help make it a reality...
Mar 17, 2013 at 5:01 AM | Unregistered CommenterS. Gompers

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