"President Obama has talked a tough game about holding Wall Street accountable and defending the middle class, but his administration has actually done very little to prosecute even the worst offenders."
"Virtually every day, the Obama campaign tries to cast his opponent as some type of modern day robber baron. Gov. Mitt Romney's clear success in the private sector is a threat to President Barack Obama's attempt to sell the American public on another four years of dismal economic performance. Yet, when it comes to raising money for his own campaign, the president doesn't seem to blink about the source.
Case in point: former New Jersey Gov. Jon Corzine.
Corzine, the disgraced former CEO of MF Global, continues to aid the Obama campaign as a "bundler": a well-connected person who shakes down their moneyed friends for donations. To date, it appears that
he has raised $897,232 for the cause. . . .
Being somebody who was once individually worth half of a billion dollars and used to be the governor of a densely-populated U.S. state gives you some clout. It also helps that
MF Global was a client of a law firm that used to employ Attorney General Eric Holder and several other current Department of Justice employees, and that its bankruptcy proceedings are being overseen by another crony capitalist connection. Now, it is a fact of D.C. life that high-ranking political appointees at executive branch agencies and departments eventually want to return to their more-lucrative private sector jobs. That challenge becomes more difficult if they come out hard against former clients. The fact that Corzine has directed millions at Obama's two presidential campaigns can't hurt either. So in all reality, there will be few consequences other than personal humiliation for the people who somehow lost track of $1.2 billion in shady accounting scheme.
President Obama has talked a tough game about holding Wall Street accountable and defending the middle class, but his administration has actually done very little to prosecute even the worst offenders. Financial fraud prosecutions are
down 39 percent since the Enron and Worldcom scandals, hitting 20-year lows. During similar crises, such as the S&L scandal in the early 1990s, thousands of prosecutions were brought against the financial industry."
http://www.usnews.com/opinion/blogs/...onor-hypocrisy