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View Diary: Prosecuting Wall Street Gets Real (193 comments)

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  •  Couple of things are clear (1+ / 0-)
    Recommended by:
    BradyB

    Got an intractable problem that must be solved? Two choices: divide it up into more achievable slices or make it bigger. The election clock was running out and the 50-AG deal failed to happen.  So, the WH chose the former.

    One is a 2'nd attempt at a scoped-down 50-AG settlement on the narrow and inarguable case of robosigning.

    Second, a DOJ investigation on MBS, another narrow though seminal slice for financial markets.

    So we see two slices, both of which will take time before they get settled or fail. One gets at one kind of mortgage fraud without getting near all of the other kinds.

    The other gets at the financial instruments where, if full investigations happen beyond FCIC findings, should result in improving MBS investments.

    Narrow. But important. And runs out the clock.

    Eliminate the Bush tax cuts Eliminate Afghan and Iraq wars Do these things first before considering any cuts

    by kck on Sat Jan 28, 2012 at 10:54:19 AM PST

    •  yup, running out the clock... (3+ / 0-)
      Recommended by:
      kerplunk, dailykozzer, George Hier

      is exactly what they are doing imo

      there's nothing like a task force set up 3+ years after the fact that will take them god only knows how long to determine if there was any wrongdoing....wtf

      •  The reason for public outrage is to cause action (4+ / 0-)
        Recommended by:
        cotterperson, mrblifil, elwior, Creosote

        And it works. Pols will try to fool, nudge, out wit, or out wait the public. Activists are motivated precisely by history and this very fact that pols can and do switch gears when we apply pressure, notably at election times, especially when they feel our votes are threatened. Prevailing counter pressures can change with time too. Time impacts everything. This is not a morality play but an endless process of conflicting tensions. The public needs to be relentless and even then we're outgunned in money, influence, and power.

        Eliminate the Bush tax cuts Eliminate Afghan and Iraq wars Do these things first before considering any cuts

        by kck on Sat Jan 28, 2012 at 12:39:59 PM PST

        [ Parent ]

      •  Exactly (1+ / 0-)
        Recommended by:
        wsexson

        and that's exactly what's been going on.   There is only one answer to this problem of the few getting it all at our expense,  and it comes down to getting political power by unionization in the private sector.    

        Public unions are needed but only if we have a commensurately much stronger organized labor in the private sector.   That was how the robber barons lost their clout and control of the USA a hundred years ago.  Only through organized labor (not Parties) can the people regain enough clout to offset the wealth of the 1%.

        Passing "Card Check" should have been Obama's number one priority because it would have set the stage to advance against Wall Street, end Bush tax cuts,  end wars, and then march towards single payer.    

        I think Obama at the behest of those such as Rahm Emanuel caved to the likes of  the rabid billionaires such as Bernie Marcus??? who rallied the rich in their tribe of wealth and used other lobbies that have huge influence to protect the wealth of their own.  http://www.seiu.org/...   The wealthy globalists understand totally that organization of the masses by huge numbers can sink their agendas.

        Victims of bigotry are the poorest, least influential members of society.......never the wealthiest, most educated, most overrepresented in high levels, and most influential. Bigotry hurts the least influential. To claim or say otherwise is absurd.

        by dailykozzer on Sat Jan 28, 2012 at 03:03:51 PM PST

        [ Parent ]

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