I have a question.

[JDPriestly]

It's about these deals Obama's SEC is making with the banks:

There is no three-strikes law for crooked bankers, not even a law for a fifth strike, as The New York Times reported in the case of Citigroup, cited last month in a $1 billion fraud case. Unlike the California third-striker I once wrote about whom a district attorney wanted banished forever to state prison for stealing a piece of pizza from the plate of a person dining outdoors, Citigroup executives get off with a fine and by offering a promise not to do it again, and again and again.

As the Times reported when Citigroup agreed to settle SEC charges last month: “Citigroup’s main brokerage subsidiary, its predecessors or its parent company agreed to not violate the very same antifraud statue in July 2010. And in May 2006. Also as far back as March 2005 and April 2000.”

http://www.truthdig.com/report/item/california_refuses_to_accept_obamas_banking_sellout_20111110/?ln

As I recall, double jeopardy does not apply if a case settled by the Feds on one set of charges is retried in state courts on different charges. Agree?

Why is Obama trying to help the banks on this. The banks did not comply with state laws, and the Feds are to easy on the banks. It's the states that lost the money. Let them alone, please Mr. President. Just tell your felons that if they don't settle, they go to trial and then hold their feet to the fire.

[PoliticAverse]

1. Same type of questions Judge Jed Rakoff is asking...

http://www.readersupportednews.org/opinion2/279-82/8344-finally-a-judge-stands-up-to-wall-street

[JDPriestly]

2. I had to argue a similar issue in a class one time. I'll never forget the outcome

although you don't know until the judge decides. Good for Judge Rakoff.

[PoliticAverse]

3. Additional article on the Judge's questioning...

http://www.courthousenews.com/2011/11/10/41354.htm

[RC]

4. Good question. If corporations want the same rights as people, they should expect

the same penalties as real people for breaking the law.

[Kablooie]

5. Obama seems to believe that supporting the 1% is the only way to fix the economy.

He's probably been told that over and over by "people that know", the 1% of course and he's bought into it hook, line and sinker.
Sure he understands the OWS movement but he still thinks the way to fix things is to let Wall Street continue with few restrictions.

The idea is that a strong economy is in the financier's best interest so they will pull things back up themselves.
But nowadays everyone is looking out for themselves and there are plenty of unscrupulous opportunities to enrich yourself personally even if your company dies.
Particularly if you know there is no real punishment so no real personal downside.

Also he has always been against strong punishments for any powerful person who abuses power. Look at the Bush administration.

He seems to fear that rocking the boat will just sink us deeper.
If only he could see that the real remedy is to toss the oligarchs overboard and force them to swim with the rest of us.
Then we might see some real movement towards fixing this economy.