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American banks are on a massive crime spree


By Patrick   Follow   Sat, 3 Nov 2012, 1:40am PDT   1,055 views   10 comments
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http://www.houstonpress.com/2012-11-01/news/wells-fargo-175-million-settlement/

Longtime prosecutor and Notre Dame law professor G. Robert Blakey: "The real theft was on Wall Street… All of the people who ran the scams have their big houses and their airplanes and they’re laughing.

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The Professor   Sat, 3 Nov 2012, 2:36am PDT   Share   Quote   Permalink   Like   Dislike     Comment 1

"American banks are on a massive crime spree. Obama and Romney hope you won’t notice."

Some of us have noticed, but what can we do?

C Boy   Sat, 3 Nov 2012, 3:26am PDT   Share   Quote   Permalink   Like (1)   Dislike     Comment 2

Thieves don't know when to stop. Soon they will start stealing from themselves, then the sh!t will hit the fan.

curious2   Sat, 3 Nov 2012, 7:05am PDT   Share   Quote   Permalink   Like   Dislike     Comment 3

I wish that journalists and newspaper proofreaders (if those still exist) would please learn math. The article says, "the settlement amounted to just .011 percent of the San Francisco bank's annual income. It was like forcing a $30,000-a-year working stiff to pay a $240 fine." 0.011% of $30,000 is $3.30. $240 would be 0.8%. At least it's a serious story, unlike most of what passes for journalism these days, but bad math and hackneyed phrases don't give the subject the coverage that it warrants.

mell   Sat, 3 Nov 2012, 7:17am PDT   Share   Quote   Permalink   Like (3)   Dislike     Comment 4

That's what I keep saying in light of all these partisan politic discussions - even NPR jumped on the boat with a new low today in a segment about family and friends and neighbors so divided about Romney vs Obama that they don't talk and what they can do to overcome the "huge" gap in their political views and other such bs stories. Seriously? You are not talking and having family feuds over 2 politicians/parties of the same kind?? How fucking dumb is that (I'll stand by that insult!). Meanwhile the bankstas and politicians are laughing about you buying all their distractions about boy scouts, gay marriage, abortion, drug policies and so on while they are robbing you and more-so your children blind at daylight! Are you really more concerned about the fact that some homophobics prefer to stay amongst their own than the 16 trillion (!) dollar deficit?? Then you deserve to continue being robbed ;)

The Professor   Sun, 4 Nov 2012, 1:45am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 5

If Romney gets elected a woman will still have access to birth control and abortion.

If Obama gets elected the banks will continue their pillage.

What is the difference?

Peter P   Sun, 4 Nov 2012, 1:51am PST   Share   Quote   Permalink   Like (3)   Dislike     Comment 6

The Professor says

If Romney gets elected a woman will still have access to birth control and abortion.

If Obama gets elected the banks will continue their pillage.

What is the difference?

The mascot will be different. Would you prefer an elephant or an ass? ;-)

C Boy   Sun, 4 Nov 2012, 2:11am PST   Share   Quote   Permalink   Like   Dislike     Comment 7

The Professor says

If Romney gets elected a woman will still have access to birth control and abortion.

If Obama gets elected the banks will continue their pillage.

What is the difference?

Currency war with China would be a disaster.

War with Iran will end in failure.

The Professor   Sun, 4 Nov 2012, 11:47pm PST   Share   Quote   Permalink   Like   Dislike     Comment 8

Peter P says

The mascot will be different. Would you prefer an elephant or an ass? ;-)

Personally I would prefer a president that really cares about the people more than the monied interests that put them in place as the figurehead of the greatest country in the world.

Patrick   Mon, 5 Nov 2012, 12:21am PST   Share   Quote   Permalink   Like (1)   Dislike     Comment 9

But since private money is so important to elections under our current rules, a guy who put the public interest ahead of monied interests probably can't get elected.

I think the majority of our problems come back to our campaign finance system. We should have publicly financed campaigns instead, and a ban on private campaign donations.

Patrick   Mon, 5 Nov 2012, 12:23am PST   Share   Quote   Permalink   Like   Dislike     Comment 10

underwaterman says

Patrick, the link to the article on houstonpress now points to a different article.

I tried searching the wall street journal site for the article but can not find it.

The link at the top? Still works OK for me, showing the article about the banks' crime spree. Maybe there was a problem at houstonpress.com for a while.

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