Saturday, September 24, 2016

WOULD HILLARY'S DOJ PROSECUTE WELLS FARGO?

It's highly unlikely since her predecessor (Obama) has a miserable track record when it comes to prosecuting anyone connected to Wall Street (banks).

It's also likely that Obama will end up on the payroll of Wall Street banks much like Hillary has been; raking up to $200,000  per pep talk (speeches) in the pay for play game she and husband Bill so like to play.

The banks are America's 21st Century version of the Mafia. It's unfettered organized crime.


Senator Elizabeth Warren Requests Formal Investigation About Why The Obama Administration Did Not Prosecute Wall Street


Massachusetts Senator Elizabeth Warren on Thursday requested a formal investigation into why the Obama administration did not bring criminal charges individuals and corporation involved in the 2007-2008 financial crisis.

In a letter sent Thursday to Michael E. Horowitz, the Inspector General of the Department of Justice, Warren said her staff had found that members of the Financial Crisis Inquiry Commission (FCIC) had referred 25 cases to the Justice Department for potential prosecution. None of those referrals were pursued.

“The Department has failed to hold the individuals and companies... accountable,” Warren wrote. “This failure requires an explanation.” Warren also wrote to the head of the FBI, James Comey, and asked him to release records of FBI investigations into financial misdeeds in the wake of the crisis, to further illuminate why the Obama administration decided not to prosecute firms linked to the financial crisis.

The FCIC was a 10 member investigatory body tasked by Congress in 2009 to look into the root causes of the economic collapse. In 2011, the FCIC turned over a mountain of evidence to the Justice Department -- including whistleblower testimony, and internal bank documents.

Though the FCIC wasn’t allowed to launch criminal investigations, it did make prosecutorial suggestions to the Department of Justice.

Phil Angelides, who chaired the FCIC, applauded Warren’s demand for an investigation into why the referrals were not followed up.

“This is in the public interest,” he told International Business Times. “We need to see if there was a fair investigation into what was happening on Wall Street.”

In her letter, Warren said her U.S. Senate staff reviewed thousands of documents from the FCIC and found that the Justice Department failed to pursue criminal charges against both individual executives, and corporation -- even in cases where the Commission found “serious indications of violation[s]" of the law. The cases flagged by Warren include: potential fraud in loan underwriting at UBS, accounting fraud at Fannie Mae, mortgage fraud at Citigroup, and securities fraud at Goldman Sachs.

Warren also singled out the Justice Department’s failure to hold individual Wall Street executives criminally accountable for the corporate wrongdoing -- even though the FCIC found strong evidence for prosecutions.

“Nine individuals were implicated in these referrals,” Warren wrote. “The DOJ has not filed any criminal prosecutions against any of the nine individuals. Not one of the nine has gone to prison or been convicted of a criminal offense. Not a single one has even been indicted or brought to trial.”