I wonder how many people realize how much corporate money has corrupted our government. For example, what if you could prove that some of the largest investment banking corporations were actively recruiting the business of terrorists and drug cartels in exchange for laundering money and loans at premium rates? Would you expect the US Attorney to act on the proof and stop the illegal activity and maybe even put a few gangster bankers in jail? Please.
Banking giants HSBC and UBS have been found to repeatedly violate laws and exploit loopholes to launder money for terrorists and Mexican drug cartels. Repeatedly. The evidence was overwhelming, in the forms of actual memos discussing how to hide accounts and violate regulations. HSBC and UBS – bankers for terrorists and drug lords also happen to be too big to break up, or to prosecute their executives. So the Obama Administration decided to let them off the hook legally. Not once, but twice. Just ask Assistant Attorney General Lanny Breuer (formerly of Covington and Burling, a law firm that represents big banks like, well, you guessed already)why he chose to undermine the law and the “war on terror”.
Lest you Obama-haters overly focus on his administration, consider that the reach of big money banks extends to Congress, to the extent that they flagrantly wield their power. Take for example Congress passing the STOCK law this past week. Prior to this law it was illegal for every American except Congressmen to engage in insider trading. Representatives and Senators sitting in on, say, a Committee regulating mining subsidies could virtually leave the hearings, call his investment banker and trade stock in mines. Outrageous, right? Well, the STOCK law was proposed to stop this practice. Except after some fine tuning by bank lobbyists, there are two exemptions to this law: congressional aides and investment bankers getting information from them.
Does this make you as angry as it makes me?