“AFTER THE MELTDOWN” THE CRIMINALS RUN RAMPANT – STILL LIVE IN LUXURY
“After the Meltdown” revealed many of the major players responsible for the 2008 financial crisis faced few consequences for their FRAUD actions = Project manager John Dunbar; team leader and senior reporter Alison Fitzgerald; reporter Dan Wagner; and former Center intern Lauran Kyger = CENTER FOR PUBLIC INTEGRITY!‘After the Meltdown’ series = 6-month investigation on the subprime 25 = ‘Who’s Behind the Financial Meltdown?’ = published five years after Lehman Brothers Holdings Inc. went bankrupt.Key findings = Mortgage executives at Bear Stearns led that firm down a path to its own destruction, are now doing similar work for Bear’s former competitors.Key findings = CEOs of five of the major Wall Street banks in most financial trouble in 2008 are all living in luxury = ZERO faced any criminal or even civil liability for their mismanagement.
Key findings = Top executives of every one of the 25 largest subprime lenders from the boom years 2005 through 2007 are back in the mortgage lending business.
Key findings = Majority of the regulators RESPONSIBLE for preventing or cleaning up the meltdown are back in the private sector, earning big fees from writing books and lecturing about their experience.
SOURCES = Court records + SEC filings + Real estate records + Mortgage term sheets + National Mortgage Licensing System + Reporters tracked down the principals in each story- interviewed friends + former colleagues + business associates + bridge partners + golf caddies
Key findings = SHOWED the nation’s regulators and prosecutors failed to hold those most responsible for the financial crisis accountable for damage to the economy and the Great Depression = Loss of millions of jobs and trillions in wealth.
Key findings = GOV’s lack of action against major banks and executives BY DOJ AND SEC against corporate wrongdoing.
JPM = FINALLY ADMITTED GUILT AND PAID $Multi-Billion settlements.
Banks manipulate critical GAO report = Lobbyists manipulate CRITICAL report by USA’s internal watchdog that determines how banks are regulated in the future.
GAO = Government Accountability Office asked by Congress to determine whether BIG BANKS SHOULD BE ABLE TO BORROW AT NEAR 0% WHEN PEOPLE, BUSINESSES, SMALLER BANKS, AND AMERICANS PAY USURY RATES.
GAO = ASKED TO DECIDE IF BIG BANKSTER CROOKS SHOULD BE BAILED OUT FOR THEIR OWN FRAUD AND GREED.
BIG BANKSTERS + THEIR LOBBYISTS have been building an arsenal of FAKED reports and academic studies AGAINST NEW Regulations ARGUE FOR PROTECTION AS “systemically important” that DESERVE SPECIAL TREATMENT AND MIDDLE CLASS BAILOUTS = WELFARE NOT TO THE RICH BUT THE CRIMINAL RICH.
http://www.publicintegrity.org/2014/01/17/14099/banks-seek-sway-critical-gao-report
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