We’ve always known that Steve King and Rudy Giuliani are the flag-bearers of elitist racism. They’ve both erased any & all doubt about that over the past few days. But King, seemingly wanting to one-up both himself and Giuliani, made it crystal-clear that he takes pride in being the worst racist.
Being a “Texan”, former President George W. Bush and his wife attended the memorial for the fallen policemen in Dallas, Texas this week. He was there with current President, Barack Obama and his wife, and other dignitaries. During the playing of the Battle Hymn of the Republic, Bush – sandwiched between his wife Laura and Michelle Obama – was holding their hands and swaying back & forth in a “dance’ move while swinging the two first ladies’ hand as if to get them in the mood.
Furthermore Bush kept looking over his right shoulder, obviously amused by something to his left right. A smile and the expression on his face clearly indicated he wasn’t too brokenhearted over the policemen’s death.
President Obama, VP Joe Biden and his wife, along with other state and local officials, were very solemn in their demeanor.
While Bush probably didn’t mean any disrespect to the occasion, can you imagine the national outcry from Fox Faux, Bill O’Reilly, Rush Limbaugh, Glenn Beck and all the other dozens of right-wing hate groups had that been President Obama doing exactly the same thing?
Once again we – the working-class commoners of elitist America – are slapped in the face with the constantly-used ‘always-reliable’ reason for not prosecuting criminal bankers: “… because of concerns about the stability of the financial system.” In other words, Too Big To Fail; Too Big To Jail.
HSBC, a 167 year-old British bank, is one of the largest banking and financial services organizations in the world. Their American headquarter is in New York City. Over the past several years HSBC has had to pay out enormous fines for breaking banking laws.
In 2012 HSBC was slapped with a historic fine of $1.9 billion for “money laundering activities tied to drug cartels in Mexico and terror-linked groups in Saudi Arabia.”
Then, in September 2014, they paid out $550 million for “violations of federal, Virginia and District of Columbia securities laws in connection with private-label mortgage-backed securities purchased by Fannie Mae and Freddie Mac”, which cost American taxpayers $192.5 million due to the fine being treated as a write-off (loss) by the bank.
Two months later they were fined $12.5 million for “failing to register with the Securities and Exchange Commission (SEC) before providing cross-border brokerage and investment advisory services to U.S. clients.”
In none of the cases was an executive charged with criminal activity. They were let off the hook by the US Justice Department — “clarified” by former Attorney General Eric Holder (under the Obama administration):
Eric Holder has long insisted that he tried really hard when he was attorney general to make criminal cases against big banks in the wake of the 2007 financial crisis. His excuse, which he made again just last month, was that Justice Department prosecutors didn’t have enough evidence to bring charges.
Many critics have long suspected that was bullshit, and that Holder, for a combination of political, self-serving, and craven reasons, held his department back.
A new, thoroughly-documented report from the House Financial Services Committee supports that theory. It recounts how career prosecutors in 2012 wanted to criminally charge the global bank HSBC for facilitating money laundering for Mexican drug lords and terrorist groups. But Holder said no.
So there you have it: Criminal and wannabe criminal bankers are justifiably comfortable with planning and executing their next crime wave, knowing they are “Too Big To Fail” & “Too Big To Jail”. They’re only requirement will be to purchase another get-out-of-jail free card.
Thank you, “Republican” Barack Obama — you’ve shown where your true allegiance lies.