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View Diary: Tough Choice: If DOJ Prosecutes Wall Street, Banks Could Collapse (196 comments)

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  •  some people say they're going to fail (3+ / 0-)
    Recommended by:
    shrike, cotterperson, Sybil Liberty

    some people don't.  If you only read what the doomsday people say, you're practicing epistemic closure.  And you really are talking about a doomsday scenario.  Most of what the banks do (and most of what drives their profits) is ethical and beneficial to the global economy.  Tearing them down to satisfy your blood lust isn't going to make healthcare costs go down or help your cousin find a job.

    And there's scant evidence the government is ignoring the role bad actions of the banks played in torpedoing our economy.

    But you don't prosecute trillion dollar financial transactions by the seat of your pants.  You need evidence, witnesses.  You need to be able to walk into the court room and lay out the whole story, explain why it was criminal, and why the banksters knew they were breaking the law.  And that sort of thing takes years of investigation.

    Were the banks culpable?  Yes.  Are federal and state prosecutors actively investigating every aspect of the banking fiasco?  Yes.  Are some executives going to go to prison over the financial meltdown?  Maybe.  Will there be lawsuits and settlements and plea deals?  Definitely.  

    Will any of the fire-throwers on DKos be satisfied with the outcome?  No.

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