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View Diary: New Bank Fee-for-All: Truly Despicable Charges (111 comments)

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  •  Here's the link...Obama said it! (0+ / 0-)

    For perhaps the first time, President Barack Obama was forced to explain why there have been no prosecutions of Wall Street executives for their fraudulent actions during the run-up to the financial crisis. Asked by Jake Tapper to explain this behavior, Obama basically suggested that most of the actions on Wall Street weren’t illegal but just immoral, and that his Administration worked to re-regulate the financial sector with the Dodd-Frank reform legislation.

    “Banks are in the business of making money, and they find loopholes,” the President said. Apparently forging and fabricating documents to prove ownership of homes that are subsequently stolen from borrowers is now a loophole.

    Many of the practices on Wall Street “weren’t necessarily against the law but they had a huge destructive impact,” said the President.

    •  He can't know this without investigation. (0+ / 0-)

      it makes me sick that our president is colluding with the bankers. The most important part of the settlement is an agreement to investigate. I don't care about how much money, but the investigation is the part that the banks will not agree to. For Obama to make this statement, before there has even been an a blow to those of us, who have suffered. Either he is ignorant of the level of fraud, or he is complicit. Either one, SUCKS!

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