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

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  •  This is exciting. (9+ / 0-)
    "I'm asking my attorney general to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. This new unit will hold accountable those who broke the law, speed assistance to homeowners and help turn the page on an era of recklessness that hurt so many Americans."

    Pres. Obama recently met with my old org. in Cleveland (ESOP) and visited with an elderly couple (victims of predatory lending) that had been ESOP's most active community leaders against predatory lending for 10 years. ESOP is a spin-off of a Chicago-based direct action community org. They have a way of being direct and unapologetic when they know they're right. I see that language in the president's statement above. He says "abusive" and "risky" and "recklessness" and "hurt". He's already told us what side of this issue he's on. He's on the victim's side. These words are strong. Coming from a president, they are practically indictments. I think someone's ass is toast.

    The language in that paragraph could have been written by my old executive director. That's exactly what the grassroots organizers of this issue (for over a decade), would want to see happen and that is exactly what they want to hear a president say.

    We'll see what happens but this is the most encouraging sign that The Reckoning is coming that I've seen in a decade (other than The Occupiers).

    "It's not enough to acknowledge privilege. You have to resist." -soothsayer

    by GenXangster on Sat Jan 28, 2012 at 01:08:56 PM PST

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