Now that the Department of Justice has finished the John Edwards prosecution, can we move on to an investigation of Wall Street bankers, please?
If you’ve been following along this past week, former senator and presidential candidate John Edwards was found not guilty on one charge, and the jury was unable to decide on five other charges of violating campaign finance laws.
On the other hand, guess how many criminal charges have been filed against the top executives of the financial institutions whose fraud nearly crashed the global financial system, drove our economy into a ditch, resulted in billions in taxpayer bailouts, and left millions of Americans searching for jobs and millions of homeowners owing more than their homes are worth?
None. Zero. Zip. Nada. Zilch.
Now, I’m certainly not defending John Edwards. In fact, I have some choice words I could share about that guy. And breaking the law is breaking the law. But that’s exactly the point!
Why does Wall Street get away free? These “worst of the 1%” are the people who kicked military families out of homes illegally, deliberately stuck minority homeowners in high-priced subprime mortgages they charmingly call “ghetto loans,” and have paid only negligible fines despite allegations of market-rigging, deception, and lying to clients.
Underwater homeowners need help. Struggling young people could face an overnight doubling of the interest rates on their student loans. But Wall Street profits have already rebounded, and there are no repercussions in sight.
If you think something’s wrong with this picture, you’re part of the right community.
Colin and the rest of the Rebuild the Dream team.