Not prosecuting any of the Wall Street criminals was a big failure.

[jtuck004]

14. "Stress Test" in which the Treasury Secretary saved the banks on the

backs of everyone else. On purpose. Because it was best for us.

He explained it on Jon Stewart's show, reported here.

Said the plan that was put through was the plan they wanted (not blocked by anyone) and that they could have saved the homeowners and others, "and you would have thanked us at the time". But things would have been much worse. He did not explain that if by "much worse" he meant that the banks would not be reporting record profits as they are now, and 15 million people who were not in poverty when he started his job would not still be, as they are.

Per the ex-Treasury Secretary.

...
When Stewart began describing the situation as a plane full of arsonists on fire and going down, Geithner stopped him. “Well, it wasn’t just the arsonists,” he said. “If it was just the arsonists, you could have let the plane crash, that didn’t matter. The problem is there was a bunch of innocent victims who were on the plane with them.” Namely, the American people.

In that context, Geithner said he was forced to “do the opposite of what seem intuitive and fair” by bailing out the large financial institutions. “You don’t do it for the banks and the bankers,” he said. “You do it to protect them from their mistakes.”

Stewart admitted that Geithner had a “compelling case,” but said the federal government may have gone too far “when you took the arsonists off the plane and got them a massage and steak dinner.”
...

The audience of voters laughed at Geither's face when he tried to spin what happened. It was pathetic.

This will continue to rot this country from the inside until it is addressed.

Mortgage fraud low priority for US, government watchdog says

Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said Thursday.

The report by the department’s inspector general undercuts the president’s contentions that the government is holding people responsible for the collapse of the financial and housing markets. The administration has been criticized in particular for not pursuing large banks and their executives.
...
In several large cities, including financial hubs like New York and Los Angeles, FBI agents either ranked mortgage fraud as a low priority or did not rank it at all.
...
here.