A repository for Marcospinelli's comments and essays published at other websites.

New York Attorney General Kicked Off Government Group Leading Foreclosure Probe

Wednesday, August 24, 2011


It's easy to forget the banks caused this mess.

The regulators were at fault for not doing anything about it, but the true criminals were the banks that inflated the housing bubble and blew up the financial system. Their greed is the reason we have 9% unemployme­nt right now, running trillion dollar deficits and we have million of people who are losing their homes to foreclosur­e.

In the S&L Crisis of the last 80s early 90s, 1300 bank executives went to jail for their crimes. The S&L debacle was mere child's play compared to the 2008 financial crisis. Yet not a single executive has been prosecuted­, much less put in jail.

The policy of the DOJ is to not prosecute white collar crime. They instead are actively working to suspend the rule of law and bail the banks out of yet another mess they find themselves in, while regular people are left to be victims to the bank's merciless foreclosur­e process. Obama's words are snake-oil --> pretending to care about regular people while working in the background to protect and defend the elite from their crimes. Just like with the health care law -- Obama publicly talked about how he wanted a public option but in the background he was negotiatin­g it away to get the health insurers to accept his plan. Disgusting -- Obama needs to be primaried. But our corrupt system, which is always concerned with maintainin­g power rather than doing what is right, will not step up and nominate a challenger (despite the fact that it looks like Obama will lose in 2012).

Read the Article at HuffingtonPost

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