Since taking office in January, President Donald Trump has chosen ex-Goldman Sachs bankers to fill several key positions within his administration. According to a Wall Street Journal analysis published Sunday, it appears that the nation's largest financial institutions are benefiting greatly from having their friends in government.
Is this serious? Look at OB’s cabinet and Clinton’s cabinet and all of the Rethugs’ cabinets. Wall Street and other plutocrats own both wings of the Duopoly. This piece is pathetic.
Say what you want but the fact remains that under Trump’s Goldman Sachs appointees et al that fines are down 66%!
Oh wait Tom! I get it now! It’s a coincidence. Yes that explains it! A coincidence or maybe it’s an impenetrable mystery that no one understands how it could happen? Oh my… maybe it’s a mystery?
What annoys me is that there is never a mention of holding bankers criminally accountable for their behaviors. The fines that have been levied under every administration have been such a small percentage of the gains realized through fraudulent actions, there is no deterrence factor.
White collar crime runs rampant, and it is very rarely addressed at all much less substantively. Could ‘we the people’ form a class action suit against the government for failing to prosecute these crimes, and impoverishing us as a consequence?
Personally, I think we need to push our legislatures HARD to send white collar criminals to jail where they belong.
Fines fine one group, the shareholders. Criminals in management don’t give a f@@k. How about some jail sentences? How many people were thrown in jail for the 2008 meltdown? None.
I was going to like you or heart you until you called this piece pathetic. It was about fines paid by banksters and more loosening of regulations by Trump. Yes Clinton’s and Obama kept the banksters close but they did fine them and as I believe “fines” are a budget item line for them. A cost of doing business.
So what? Every administration for the past 100 years had Goldman Sachs in the White House. Obama refused to prosecute even one big bankster for causing the Great Recession or stealing the wealth of the working class.
If Hillary had become pResident, she would have continued on in the same vein too.
Slap on the wrist fines are written off as the cost of doing business, and are tax deductible too.
So who pays these fines? A. the Consumer—you and me.
The fines are windowdressing, used to pretend that the government is doing something about Wall Street’s swindling the public. These fines are passed down to consumers in higher fees and charges.
Y’all didn’t really think the head honchos at Goldman’s opened their bank accounts to pay 'em, did ya? But heck the dems are right on top of it – little Lizzie Warren got the “fine print” turned into bigger print.
Fines are down, financial crimes are up…that is the GS ethic.
Trump’s people are doing what Obama’s people only wished they could have gotten away with. In the perpetual race to the bottom, each succeeding administration starts at where the previous one left off and then makes things a little (or a lot) better for them and worse for us. They can get away with it because it is done in increments, and Americans are none too bright or informed.
If the Democrats should win the White House in 2020, expect them to roll back some of the policies of the current administration (for the sake of appearances, so the country still thinks we actually have two distinct and independent parties), but nowhere close to being what they were under even Obama. Which will be fine with them. Four years after that, Trump will be a distant memory, so there will be little real protest when things start spiraling downward again.
The fines have always been hand-slaps for PR purposes and are generally dealt down during mediation and legal settlements. Trump is simply taking away the smoke and mirrors of how the capitalist system works for capitalists. He’s that arrogant an the fact is he knows he has the power to do it because the U.S. has a one-party (of the rich and corporations) political Kabuki “system.”
See comment to jujudahl
Exactly, only it’s never been this overt
They know it’s their time to give themselves all the perks of power they can get away with. Of course they know their approval ratings are shit. But it doesn’t bother them, because they know they hold the reigns of power for at least then next year-and-a-half, and probably longer. They own all three branches of government, so who is going to stop them? Certainly not “We the People”, that’s for sure.
So it is a money maker for them.
Sadly so. I want my country back.
Sadly, we never actually had it.
David K. Johnson, " the people who cheat, swindle and steal, often times never get arrested for anything ". Said about President Trump
" Never invest in the stock market a dollar more than you can afford to lose ". Anonymous😉
Read Mr. Bucheit’s column and see what’s about to go down under Trump. If he and his kleptocratic tax cheats can get away with it. Under the ancient economic rule, " more and more is always better ".
I think this country has a huge educational problem about how this economy works. And, yes The Uniparty likes that way. The Kool-Aid was drunk decades ago, but the highgrade poison is just now kicking in. Supply Side Kool-Aid, who knew the demand was so great? Cats have fewer lives.
Wells Fargo’s many audacious criminal actions should be front page news, but it gets a yawn. The MSM is yammering all about anything, but their banking and financial investment advertising revenue, won’t let them tell the 70% of their viewers; " you’re being scammed, you twits ".
Mnuchin evidently lied under oath to Congress, with no consequences. Now that’s some kabuki! Lying under oath, to other liars, is Wall St.'s old business model adopted by our unterm-limited newish Congress. And, the real and only art of deal by the current mayor of Protrumpkin Village.
" We have seen the village idiots, and they are us ".
On a high note: Tsar Trump is at 30% approval. And, one year of using medical marijuana three times daily, helps explain all of the above. Well, most of it.
Stop the fines. Imprison the perps!
Do you know this?