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In reply to the discussion: ''Looking Forward'' not only cleared war criminals Bush and Cheney, but the Banksters, as well. [View all]Octafish
(55,745 posts)From William K. Black:
The administration and its odd bedfellows, the Chamber of Commerce and the ABA, have maximized the perverse incentives that will drive future fraud epidemics, bubbles, and severe recessions. The administrations embrace of Pratts cover up strategy, its breathless self-praise for its own brilliance in resolving the crisis at virtually no cost, its perversion of the accounting rules and the PCA to bail out and make even wealthier the senior officers whose frauds drove the current crisis, and both administrations failure to prosecute the elite frauds have enraged a broad spectrum of Americans. The Chamber of Commerce and the ABA have rewarded Obamas tacit support for their dearest dreams with a vicious assault on him. This means that the administrations banking policies have attained the terrible trifecta: terrible economics, terrible ethics, and terrible politics.
SOURCE: http://my.firedoglake.com/williamblack/2010/11/01/if-obama-thinks-the-response-to-the-sl-debacle-failed-why-is-he-adopting-it/