Who Was Behind the 2008 Financial Crash? US Aristocracy’s Immunity From Prosecution. Proposal to Hold Top Level Wall Street “Crooks” Accountable…(About Time!!)
US Aristocracy’s Immunity From Prosecution Disturbs TARP’s I.G.
By Eric Zuesse
Global Research
October 27, 2016
For the very first time, on October 25th, a high federal official, the “SIGTARP” or Special Inspector General for the TARP program that bailed out the largest financial institutions and their top investors after the 2008 economic crash, is now making a specific proposal to hold the top-level crooks accountable for the incentive-systems they had put into place motivating their employees to pump-and-dump ‘investments’ during the growth-phase of the ‘free market’ Ponzi game that existed since 2000 when the end of the FDR-era Glass-Steagall Act and the start of totally unregulated financial marketeering went wild after 2005 and came crashing down in 2008.
Despite the deregulation that Bill Clinton and George W. Bush (and both political parties in Congress) instituted, there still remained on the books some laws that high financial executives were breaking, but the SIGTARP has now come to an impasse in trying to obtain the evidence that will enable investigations to proceed against the top executives, and so she is coming out to urge cooperation of the rest of the government in order to enable it to happen. The SIGTARP, Christy Goldsmith Romero, urges:
A PROPOSAL TO BRING ACCOUNTABILITY TO THE “INSULATED CEO”
I propose that Congress remove the insulation around Wall Street CEOs and other high-level officials by requiring the CEO, CFO and certain other senior executives to sign an annual certification that they have conducted due diligence within their organization and can certify that that there is no criminal conduct or civil fraud in their organization.
According to a Reuters report from Patrick Rucker, titled “Wall St. Rescue Fund Watchdog Says U.S. Bank Heads Too Insulated”, “Wall Street executives are too shielded from prosecution and should answer for misdeeds committed by underlings, the watchdog for a multibillion-dollar [federal-government] bailout [of the mega-banks] said on Wednesday.” This article, dated Wednesday October 25th, continued: “Senior banking officials should attest each year that their companies are free of criminal fraud and civil abuse, said Christy Goldsmith Romero, special inspector general of the Troubled Asset Relief Program. ‘Every executive should be able to conduct due diligence,’ she told Reuters in an interview. ‘If they are too big to do that, then they are too big, period.’”
The Rest…HERE
