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Politics.946

The political power of banksters

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{Politics.946.426}: BankstersAbtToBuyTheirWayOut {cardo} Mon, 06 Feb 2012 20:13:27 EST (30 lines)
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Some banksters should be jailed, and would be if they were fairly
prosecuted. But it seems that nearly all 50 states Attorneys General
are about to waive their right to pursue criminal investigations of
these banksters.

All 50 Attorneys General across the nation have until today to decide
if they're going to sign on to a settlement with the nation's biggest
banks to let banksters off the criminal hook for widespread fraud
committed on Wall Street during the financial crisis. The settlement -
which is against the biggest of the big banks like JP Morgan Chase,
Bank of America, and Wells Fargo - is worth $25 billion - which is
chump change compared to the real damage they've done to the American
middle class - where over $7 trillion in wealth has vanished.

By agreeing to the settlement, Attorneys General will waive their
right to pursue further criminal investigations on Wall Street -
meaning no banksters will see a jail cell. George Goehl, the executive
director of National People's Action, slammed the deal saying, "People
are very disappointed in ... this ...We're giving away the store."

While most states want to take the settlement - California is still
holding out and reserving the right to launch its own investigations.
And in New York, Attorney General Eric Schneiderman filed suit last
week against JP Morgan, Bank of America, and Wells Fargo over improper
foreclosure practices. "We the people" need to make sure any deal that
doesn't include jail time for Wall Street's criminals and doesn't
force the banks to refinance the exploding mortgages they bilked
customers into buying - is rejected outright.

-- Thom Hartmann's emailed newsletter

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