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Begging Obama to Turn on His Banker Friends

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A Black Agenda Radio commentary by executive editor Glen Ford

A reformist group is petitioning President Obama to end his administration’s “too big to jail” policy. The petition assumes Obama actually wants to do the right thing, even though he has “placed corporate fat cats and their cold-blooded operatives throughout his administration from the very beginning, in positions where they can do the most harm.”

 

Begging Obama to Turn on His Banker Friends

A Black Agenda Radio commentary by executive editor Glen Ford

Eric Holder admitted that the administration’s policy is to go soft on banker criminality.”

A petition is now circulating that calls for signatories to “tell Obama to end too big to jail.” It’s a project of the Campaign for a Fair Settlement, which grew out of the home mortgage robo-signing scandal. Like all the other crimes involving gangsterism by the Lords of Capital, the robo-signing scandal resulted in the incarceration of not a single Wall Street executive, much less a serious criminal prosecution of the banks involved. Instead, President Obama’s Justice Department went to great lengths to arrange monetary settlements that avoided criminalizing the corporate wrongdoers. The banks were fined, but much of the money never reached the people who had been harmed. Although robo-signing and the LIBOR interest rate manipulations were both referred to as “crimes of the century,” the corporate perpetrators shrugged off the fines as merely the price of doing criminal business.

The term “too big to jail” is derived from the U.S. Attorney General’s own statements. Eric Holder admitted that the administration’s policy is to go soft on banker criminality, for fear of causing an economic crisis. “I am concerned,” said Holder, “that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them.” The banks, said the president’s top lawyer, “have become too large” – too big to jail.

The petitioners call for an “end to the administration’s ‘too big to fail’ policy by taking immediate steps to break up the big banks and prosecute the criminals who used them to destroy our economy.”

The concentrated capital of the financial class that represents a clear and present danger to all of humanity.”

First of all, the very act of petitioning Obama assumes that the president isn’t part of the criminal conspiracy, and that Eric Holder – who, as a corporate lawyer, defended the worst criminals that boardrooms can produce – really wants to put Wall Street’s Kings of the Universe in prison or to bring the banks down to some “manageable” size. In fact, Obama has placed corporate fat cats and their cold-blooded operatives throughout his administration from the very beginning, in positions where they can do the most harm. Attorney General Holder is using Obama’s now-familiar ploy, claiming that the administration wants to do the right thing, but is helpless against larger, sinister forces. Outfits like the Campaign for a Fair Settlement encourage this kind of delusional thinking, that Obama is the good guy who needs our help. The petitioners urge Obama to “secure his legacy as a champion of justice.”

There is no such thing as cutting the banks down to size. It is not the size of the banks, but the concentrated capital of the financial class that represents a clear and present danger to all of humanity. This class operates through a myriad of financial institutions, moving money at nearly the speed of light. Breaking up JPMorgan Chase into two or three banks does not prevent the same capitalists from using all three for the same nefarious purposes, and just as efficiently. Maybe more so, since the reformers will have convinced themselves that they’ve won.

For Black Agenda Radio, I’m Glen Ford. On the web, go to BlackAgendaReport.com.

BAR executive editor Glen Ford can be contacted at Glen.Ford@BlackAgendaReport.com.

 

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This blog entry makes me wish I had a plane and could drop print

copies of it, papering the city, cities, ....Showing my age.  If I was really of the 21st Century, I'd be thinking "social media" for this blog entry.  To borrow from a favorite character, "Never mind" (Gilda Radner's Saturday Night Live character, Emily Latella, way long ago when I watched tv).  Whever works to get the message out.  Brilliant blog entry/radio commentary by Glen Ford.  

Brother Glen pulls no

Brother Glen pulls no punches.. Hard Hitting Truth is what is needed... People are literally in a coma asleep about this...

 

 

SHE'S SUPPOSED TO BE A LAWYER

Angela Rye says that Eric Holder [U.S. top prosecutor] has no authority to prosecute corporate criminals.

Unfortunately

every "American" has at least one drop of white blood.  Eric Holder looks whiter than me for goodness sakes.  Why he calls himself black I'll never know.  Since everbody is white, what the hell do you expect from the most rapacious group of people that has ever existed.

 

BEGGING OBAMA TO TURN ON HIS BANKER FRIENDS

The U. S. Govt, Justice Dept., NATO, the Queen of England, bankers, CIA, DEA, the wealth powerful elite are controlling the dope trafficking trade and reaping the profits for themselves.  Follow the money:  Rockerfeller family, Rothchild family, Morgan family.  

Obama will NEVER turn on the powerful wealthy bankers.  They will just "eliminate" him.  Why was no one jailed in the HSBC scandal?  The answer is obvious:  they would squeel on the U. S Justice Dept's rule in profiting off the drug trade alongside the bankers. 

The profits off the drug trade belong to everyone to share.  WE ALL CAN STOP THE DRUG WAR AND KEEP THE PROFITS FOR OURSELVES.  We can fund our Social Security, parks, libraries, pensions, schools, etc.

The wealthy powerful elite pay NO taxes.  We, the People, pay to fight a worthless drug war, pay to build our own prisons, pay to lock ourselves up  

If, we, the People, would dig deeper into the FAST AND FURIOUS SCANDAL, WE would uncover a nest of drug trafficking on a huge scale seen like no other.  It was covered up so quickly and neatly.  Oh, and don't forget Wacovia scandal.  

It's right in our faces, People, right under our noses.  THE PROFITS OFF THE DRUG TRADE ARE BEING STOLEN FROM US.  We, the People, are the market for the drugs; so the profits belong to everyone!!!

Any questions?  

 

This is all so exasperating

This is all so exasperating and depressing. I've watched an atmosphere that used to be union-driven degenerate into a "Lord of the Flies" scenario where people are paranoid and ultra-competitive in order to survive. Actually, no one is surviving all that well--just trying to hold on to work as people stagger from one task to the next, dazed by impossible & contradictory exigencies.

It seems that the only solution that can challenge this rabid beast of white supremacist capitalist paatriarchy (attribution to the wonderful bell hooks) is for workers (and those who wish to be workers) of the world to unite. Professor Marx had it right so many years ago. Will people ever heed that call? And how can it happen? Or are we the generation that has been assigned the role of obervers of the degeneration & collapse, not able to do much more?



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