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Townhall
Finance...
Too
Big to Jail
By Kathy Fettke
November 7, 2011
During
Obama’s election campaign, he
won hearts when he declared, “”We cannot only have a plan for Wall
Street. We
must also help Main Street.”
Unfortunately
three years later, Main
Street Americans are still paying a heavy price for Wall Street’s
insatiable
greed. Millions are still out of work, facing foreclosure, and/or have
lost
their hard-earned savings and retirement funds.
Even
so, not one of the Wall Street
crooks has gone to jail after breaking laws that lead to a global
economic
collapse. And none of them will if they succeed in avoiding a fair
investigation and prosecution of illegal activity.
Ironically, it’s the protestors who are
getting arrested.
Just
as thousands of Americans occupy
“Main Street USA” demanding Wall Street accountability, high-ranking
officials
in the Obama administration are pushing for a deal that would let these
giant
institutions off the hook.
Not
only are the banks “too big to
fail,” they’re apparently too big for jail. None of us on Main Street
would be
let off the hook for committing similar crimes.
There
is plenty of evidence of
widespread mortgage and foreclosure fraud committed by these massive
financial
firms. The robo-signing scandal that hit headline news last year is
just some
of the evidence of illegal activity. Recent congressional hearings,
court cases
and investigative reporting have uncovered endless examples of shady
financial
transactions.
In
spite of all this, the Obama
administration has been pushing the Attorneys General to reach a
settlement
deal before the evidence has been thoroughly investigated. Essentially,
the
agreement would offer the banks broad immunity from future prosecution.
Who’s
pushing for this? Treasury Secretary
Timothy Geithner, of course.
Let’s
take a ride down memory lane to
remind ourselves of this guy’s history and political ties. Secretary
Geithner
is the former President of the New York Federal Reserve Bank. He’s the
one who
held Congress hostage over the weekend in October, 2008 for an
emergency
meeting, begging our elected officials to authorize a bank bail-out “or
else
the economy would collapse”.
$350
billion of TARP funds were
granted to the “too big to fail” banks, and then only a few months
later, those
same banks were unwilling to share with the public where those funds
went.
Later we heard about massive insider bonuses.
Bottomline:
Geithner works for the
banks - but not all banks, just the banks behind the Federal Reserve.
That
explains why he would be pushing for a back room deal that would
protect the
big banks, and eliminate any accountability.
The
Federal Reserve is often confused
as a government institution, but it is not. It’s a hybrid. It is a
private
corporation run by a handful of powerful bankers that have been given
the legal
authority to print money and control interest rates. In other words,
the banks
who are “too big to fail” legally control the US and world economies.
US
representative, Ron Paul, has been
pushing for an audit of the Federal Reserve, but so far has been
unsuccessful.
That’s because he’s coming up against the the most powerful people in
the world
- the ones who have been authorized to print money out of thin air and
then
charge governments to borrow it from them.
Why
would President Obama allow all
this to happen when he claims to be running against Wall Street as part
of his
reelection campaign? Simple:
he was put
into office by these guys. They are notorious masters of media, which
is pretty
easy since they own most of the media outlets.
Here’s
the part that neither
Republicans nor Democrats want to hear:
our fight against each other is just a tool
for central bankers to stay
in power. That’s been their strategy since they formed in 1913 - to
fund both
sides of any war so that the winner becomes indebted to them.
We
must come together as Americans,
not as a divided nation, if we hope to win the battle against the true
“powers
that be”.
As
long as we are divided, the
banksters win.
Read
this and other columns at
Townhall Finance
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