David Cay Johnston really lets the Obama administration have it for refusing to prosecute bankers:
With a track record like that, you might think Black would have been the first person President Barack Obama called when he took office five years ago as the economy was being gutted because of reckless and rapacious banking practices that plundered profits through subprime mortgages and devilish derivatives. A second Great Depression was stalking America, as the stock market was tanking and businesses small and large were hemorrhaging jobs.
The economy is still recovering from those cynical depredations, and many people are still wondering why no one has gone to jail for pushing us all to the brink of ruin.
But to this, day no one in the White House or the Justice Department, no one in the banking regulatory agencies, will return Black’s calls. In 2012 he did get invited to brief Capitol Hill staffers on fraud by banks. He bought plane tickets to D.C. from Kansas City, Mo., where he teaches law and economics at the University of Missouri’s law school there. But before the plane took off his phone rang. “I was told not to come,” Black recalls. “The staff said they were afraid I would engage in too much bank bashing.”
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