Real shocker, right? We might be out of this mess by now if they’d thrown these people in jail:
U.S. government protection of big banks is a policy the Obama administration has adamantly denied, but during a Senate Banking Committee hearing on Friday, William Dudley, president of the Federal Reserve Bank of New York, candidly admitted to Sen. Sherrod Brown, D-Ohio, that the policy was indeed a reality.
Under the Obama administration, despite overwhelming evidence of wrongdoing, large financial organizations have avoided criminal prosecution for the following: laundering money for suspected terrorists and drug cartels, manipulating interest rate benchmarks, rigging various commodities markets, misleading investors in mortgage-linked securities, tricking homeowners into taking out expensive mortgages, manipulating municipal debt markets, and breaking state and federal rules when seizing homes from borrowers who were behind on their payments, according to the Huffington Post.
“We were not willing to find those firms guilty before, because we were worried that if we found them guilty, that could somehow potentially destabilize the financial system,” Dudley said during the hearing. “We’ve gotten past that and I think it’s really important that we got past that.”
It’s the first admission from a federal official acknowledging the explicit policy of protecting big banks from prosecution, despite lawmakers having long suspected such an arrangement.
So far we have two pro-Wall Street, pro-warmonger—-Hillary and Webb—–one anti-Wall Street, half pro-warmonger—–Warren—-one anti-Wall Street, anti-warmonger—-Sanders—–and one joke—–O’Malley—–candidates running to be the Democratic Party’s presidential nominee. Bernie Sanders is the easy choice for Progressives. He probably won’t be making any sweetheart deals with the bankers or the military industrial complex.
I take exception to the last paragraph: “… first admission from a federal official..”
The Federal Reserve Bank is no more a part of our federal government than Federal Express. This private collection of banker [oligarchs] likes to keep all the money coming their way. They own the majority of the U.S. Debt, because they loan all of our money into existence.
The U.S. Treasury issues T-Bills, [promissory notes] and the Federal Reserve Banking Co. buys them with Fed Reserve Notes to be used as currency. If Treasury issued currency, there would be no interest and no debt.
Article I Section 8 Sub-section 5: Money, weights and measures—To coin money, regulate the value thereof, and of foreign coin, and fix the standard of weights and measures. The Federal Reserve is an unconstitutional entity.
Can we pursue vigilante justice now?