I’m beginning to think that they really do want a revolution, or they wouldn’t keep doing shit like this, right?
The U.S. Department of Labor is proposing to waive sanctions against Credit Suisse Group AG (NYSE:AG) that would prevent it from managing pension money in the wake of the bank pleading guilty to criminal charges. The little-noticed waiver was outlined in an announcement published in the Federal Register. The government will accept public comment on the proposal until mid-October, and then make a final decision.
The proposed waiver from federal sanctions comes amid criticism that the Obama administration has gone too easy on major financial institutions that break the law. The proposed waiver for Credit Suisse, whose employees weremajor financial backers of Obama’s election campaigns, also comes a few months after a study showed a linkage between campaign contributions and lighter enforcement actions by federal agencies.
In its announcement outlining the waiver, the Department of Labor notes that Credit Suisse “operated an illegal cross-border banking business that knowingly and willfully aided and assisted thousands of U.S. clients in opening and maintaining undeclared accounts” and in “using sham entities” to hide money. The bank pled guilty to felony charges in May.
Under existing Department of Labor rules, the conviction would prevent Credit Suisse from being designated a “Qualified Professional Asset Manager” (QPAM). That designation exempts firms from other federal laws, giving them the special status required to do business with many pension funds. The Obama administration’s proposed waiver would exempt Credit Suisse from existing anti-criminal sanctions, and allow Credit Suisse to get the QPAM designation.
Credit Suisse declined International Business Times request for comment.
“Too big to punish”……………let’s talk about some real criminals for a moment. The Congress has a Constitutional mandate to “declare war.” What our politicians, they’re up for reelection don’t you know, have chosen to do is to let the President declare war on whomever he wants whenever he wants to. That’s a violation of our Constitution which makes Obama and everyone in Congress a criminal. But it gets even worse. It is a violation of international law to attack any sovereign country militarily before they have attacked you. Unless you have convincing proof that that country will attack you within the next 5 minutes. Obama bombing Syria for any reason would be a clear violation of international law. Such an action would make Obama and everyone in Congress a war criminal. But then, none of these people cares about what the laws are. “They want what they want when they want it.” (And) the people be damned.
How can they continue to steal our money, if government stops them from stealing our money??? Iron rule of capitalism, only the royals get the money.