The word fraud was used a lot, but not much of a bill of particulars. The problem, as was hinted at throughout the segment, is that the system is designed to benefit the financial elite. It’s not fraud in the technical criminal sense for them to take advantage of that, however unjust and anti-social it is. The problem won’t be solved by prosecutions and changes of personnel. It will indeed be necessary to break up the largest banks and most important to END THE FED. Ron Paul has that exactly right. The Fed is where financial and political power meet for the benefit of the oligarchs at the expense of the rest of us.
What I don’t understand is why this is all mixed up with a bunch of class warfare silliness. Apparently, if we fine or lock up the gangsters who brought the crisis on, it strikes a Blow For Socialism or something. I can’t help but think defusing populist sentiment against the banksters is at the heart of Warren Buffet’s recent bloviatings. He knows that by framing it as a class warfare thing, conservatives will immediately be turned off.
This shouldn’t be that hard though. Any bank that is too big to fail is too big to exist. Wall Street insiders should be prohibited, in some way, from being appointed to top positions in the government or the Federal Reserve.
What ever happened to “Monopoly and Anti-Trust Laws”?
Most of the comon folk that I talk with, assume that nothing will change until the fear of death is greater than the desire to comit fraud!………….Most likely a “French Revolution” style civil war with the oligarths flying out of the “Big Bagel” with the money to Tel Aviv.