Elizabeth Warren Presses Financial Regulators: Why No Trials for Wall Street?

[Brohan]

Good question, she may not like the answer........

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http://www.thedailybeast.com/article...rosecuted.html

Why Goldman Sachs, Other Wall Street Titans Are Not Being Prosecuted
Aug 14, 2012 4:45 AM EDT

The Justice Department's decision not to prosecute Goldman Sachs in a financial-fraud probe is another sign of the cronyism that has kept Attorney General Eric Holder from taking action
against other big Wall Street firms, says Peter Schweizer.

On Thursday the Department of Justice announced it will not prosecute Goldman Sachs or any of its employees in a financial-fraud probe.

The news is likely to raise the ire of the political left and right, both of which have highlighted one of the most inconvenient facts of Attorney General Eric Holder’s Justice Department: despite the Obama administration’s promises to clean up Wall Street in the wake of America’s worst financial crisis, there has not been a single criminal charge filed by the federal government against any top executive of the elite financial institutions.

Why is that? In a word: cronyism.

Take Goldman Sachs, for example. Thursday’s announcement that there will be no prosecutions should hardly come as a surprise. In 2008, Goldman Sachs employees were among Barack Obama’s top campaign contributors, giving a combined $1,013,091. Eric Holder’s former law firm, Covington & Burling, also counts Goldman Sachs as one of its clients....

Goldman's CEO has dinner with Obama at the White House..wouldnt hold my breath waiting for him to be indicted.

There was some deal stuck where Obama's walls st bundlers can't be prosecuted now anyway...that's our fair share Barr Obama.

What hedge fund did Chelsea Clinton work at during the crisis?

[dialtone]

Goldman's CEO has dinner with Obama at the White House..wouldnt hold my breath waiting for him to be indicted.

There was some deal stuck where Obama's walls st bundlers can't be prosecuted now anyway...that's our fair share Barr Obama.

What hedge fund did Chelsea Clinton work at during the crisis?

So we don't want Senators to ask this type question like Senator Warren is doing?

[Brohan]

So we don't want Senators to ask this type question like Senator Warren is doing?

Carl Levin and Ton Coburn did a two year investigation and released a 600 page report on Obama's buddy Goldman CEO Lloyd Blankfein.

They concluded Goldman committed fraud and Lloyd lied under oath and should be prosecuted.

Obama's DOJ's response was to cut a deal to make sure Blankfein wouldn't go to jail.

Isn't there something productive she could be doing like making sure your local insurance agent has to do 8,000 pages of paperwork to write a policy? Maybe dreaming up some new fees and regs?

[flyboy56]

I find it interesting how many democrats never said much about how little Obama and Holder were doing to bring Bankers to justice. But when Warren comes out swinging they all jump on her band wagon. What, can't openly attack the dear Leader and his side kick Holder who is protecting the dear Leader? Freaking hypocrites!

[Calamari]

It's telling how much Warren's statements have upset the right here, they are pointing fingers everywhere they can now.

[Brohan]

It's telling how much Warren's statements have upset the right here, they are pointing fingers everywhere they can now.

All her comments did is remind everyone what a phony sellout Obama is..great thread though.

[dialtone]

I find it interesting how many democrats never said much about how little Obama and Holder were doing to bring Bankers to justice. But when Warren comes out swinging they all jump on her band wagon. What, can't openly attack the dear Leader and his side kick Holder who is protecting the dear Leader? Freaking hypocrites!

Did any other Senator come out swinging on the matter before her? When/if they did who was against it?

[Brohan]

Did any other Senator come out swinging on the matter before her? When/if they did who was against it?

Carl Levin and Tom Coburn did a two year investigation and pushed for indictments.

All professor Warren did was ask questions she knows she won't get answers too.

Dog and pony show..lip service...waste of time and tax payer money. She is only fooling the fools that want to be fooled. Sure the Times and NBC will run with this and name her crime fighter of the century.

[ms maggie]

I find it interesting how many democrats never said much about how little Obama and Holder were doing to bring Bankers to justice. But when Warren comes out swinging they all jump on her band wagon. What, can't openly attack the dear Leader and his side kick Holder who is protecting the dear Leader? Freaking hypocrites!

Remind me who blocked Obama's nomination of Warren to head the CFPB? Was that Holder? Seems to me Obama has been pushing to get Warren in a leadership position for a while, bandwagon?

I would bet a lot you won't respond to this point. Can write yr response, depressingly predictable. "Holder.....cronies......dear leader.....liberals.....media".

[Brohan]

Remind me who blocked Obama's nomination of Warren to head the CFPB? Was that Holder? Seems to me Obama has been pushing to get Warren in a leadership position for a while, bandwagon?

I would bet a lot you won't respond to this point. Can write yr response, depressingly predictable. "Holder.....cronies......dear leader.....liberals.....media".

Remind me again why Jon Corzine isn't in jail?

[ms maggie]

Remind me again why Jon Corzine isn't in jail?

Is it because he's a frog (you know, a French Canadien?)

[SunsetSue]

Squid, this isn't left/right. People on both sides and indies have been asking this for years. I guess the smoke signal was finally spotted by fauxahantus.

[Brohan]

Is it because he's a frog (you know, a French Canadien?)

He is from Illinois like a lot of other degenerate pols.

[sage]

The time has come!

In a world defined by “financial innovation”, where $1 of hard collateral can spawn over $1000 in repoed and rehypothecated liabilities (and assets), where “shadow banking” is far more important than traditional bank liabilities (and to this date remains completely misunderstood), and where every month the central and commercial banks force create over $100 billion in credit money (which end consumers refuse to absorb and which therefore ends up in the stock market), the concept of a “hard asset” is an increasingly redundant anachronism.
http://www.hangthebankers.com/jp-mor...vault-located/

[ivanbalt]

Rich people in Congress aren't going out of their way to see their richer friends on Wall Street prosecuted.

Oh wait, in the spirit of the OP, Republican bad.

[flyboy56]

Remind me who blocked Obama's nomination of Warren to head the CFPB? Was that Holder? Seems to me Obama has been pushing to get Warren in a leadership position for a while, bandwagon?

I would bet a lot you won't respond to this point. Can write yr response, depressingly predictable. "Holder.....cronies......dear leader.....liberals.....media".

Yet you never addressed my thoughts on why Democrats never jumped on the bandwagon Warren is now addressing. After all, it was under Obama's watch that all of the shady deals that caused much of the housing crash came to light. But instead of Obama's attack dog Holder going after anyone, he fills their coffers with taxpayer's bailout money. Then along comes Warren and all the Democrats are cheering her efforts on.