The REAL Looting Is Happening On Wall Street … Not In Ferguson
WashingtonsBlog.com
November 25, 2014
Who Are the Worst Looters?
The looting in Ferguson, Missouri is bad. The looters are giving the peaceful protesters against the shooting of Michael Brown a bad name, and provoking an armed (and over-militarized) response by the police.
But let’s put things in perspective …
Wall Street’s crimes and fraud have cost the economy tens of trillions of dollars.
The big banks are still engaged mind-blowing levels of manipulation and crime.
Nobel prize winning economist Joe Stiglitz and well-known economist Nouriel Roubini say that we’ve got to jail – or perhaps even hang – some bankers before they’ll stop looting the economy.
Nobel prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future.
The Rest…HERE
