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Author: ravvt Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 63022  
Subject: Re: What Iceland did right ... Date: 11/30/2012 11:30 AM
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Instead Obama bailed out the bad actors and now wonders why the same bad actors are still in place.


... not only did the Obama administration provide endless amounts of bailout money, they also saw to it that there were NO prosecutions for crimes committed.

The last time bankers pulled one of these flagrantly criminal enterprises, the 80's S&L crisis, various gov't regulators filed over 10,000 complaints /w Reagan's justice dept. As a result of those referrals, the FBI investigated and the Justice dept prosecuted the miscreants. Over 1,000 bankers received prison time.

Obama's record ... not so much.

To date, there have been ZERO referrals from regulators, ZERO prosecutions and ZERO convictions for the massive criminal activities that accompanied the financial crisis. Instead, you have Turbo Tax Tim leading the parade to let these criminals pay a small fines to protect them from criminal prosecutions. This is the same guy who, as president of the NY Fed, was the primary regulator for these Wall Street banks while the crimes were being committed ...

You might say that all those Wall Street bankers and brokers got something of value for all that campaign cash that Urkel collected from them in the 2008 election cycle...
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