54 online
 
Most Popular Choices
Share on Facebook 14 Printer Friendly Page More Sharing
OpEdNews Op Eds    H2'ed 3/17/13

Not Too Big to Resist: Too Big to Jail

By Dan DeWalt  Posted by Dave Lindorff (about the submitter)       (Page 1 of 3 pages)   4 comments
Message Dave Lindorff

By Dan DeWalt

HSBC is more a criminal syndicate than a bank, yet gets a pass
HSBC is more a criminal syndicate than a bank, yet gets a pass
(Image by ThisCantBeHappening!)
  Details   DMCA

Corporate America just received the confirmation that they've been waiting for.

 

The attorney general of the United States has now admitted that the biggest American financial corporations have created such a labyrinth of their structures and practices that the Justice Department has given up trying to police them in matters ofcorruption or criminal malfeasance, saying that bringing down any of these mega-banks or businesses could cause crash the economy.

 

In 2008, the Justice Department announced a shift in policy, deciding to be cooperative with the big banks, and to encourage self-policing and self-reporting by the corporations, rather than vigorously prosecuting lawbreaking. After all, according to a DOJ directive of August of that year, "federal prosecutors and corporate leaders typically share common goals."

 

As Elizabeth Warren pointed out this week in a Senate hearing with Treasury department officials, even though HSBC bank has admitted laundering over 800 million dollars for drug cartels, not one of their bankers has even been charged, let alone convicted for the crime; "If you're caught with an ounce of cocaine, the chances are good you go to jail. If you're caught repeatedly, you can go to jail for life. Incidentally, if you launder nearly a billion dollars in drug money, your company pays a fine and you go home and sleep in your own bed at night."

And it's not just banks. Corporate America has successfully engineered a coup d'etat under our noses without firing a shot. They have paid Congress and the Executive branch to enable this unprecedented power grab through tax laws, finance policy and the gutting of traditional concerns for the welfare of the common citizen. They have enjoyed the collusion of the courts, culminating in the Supreme Court'spreposterous Citizens United ruling that corporations are "people" in the "original intent" of the Constitution. NOW, even the regulators have come out and admitted that they are no longer really in the game.

Consider a few examples just in the state of Vermont: after repeatedly lying to legislators and the public, Entergy of Louisiana sued the state of Vermont in order to abrogate and nullify legitimate state law, destabilizing and overriding state sovereignty. ATT and its white-shinned lawyers have made a mockery of town government with their dog-and-pony show in Newfane. They made no bones about the fact that they had to please only the Public Service Board -- town ordinances or sentiments be damned -- in deciding where to place a controversial cell tower. The giant multinational Iberola contradicts stated policy of the governor regarding town plans and explores wind generation sites in Windham in spite of legal, supposedly binding preemptive work by the town to prevent such development. The governor has been cowed by Monsanto's threat of lawsuit to the extent that he wants to veto a bill simply calling for the labeling of what is in the food we eat.

 

Next Page  1  |  2  |  3

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Must Read 2   Well Said 1   Valuable 1  
Rate It | View Ratings

Dave Lindorff Social Media Pages: Facebook Page       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Dave Lindorff, winner of a 2019 "Izzy" Award for Outstanding Independent Journalism from the Park Center for Independent Media in Ithaca, is a founding member of the collectively-owned, journalist-run online newspaper (more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact EditorContact Editor
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Israel's Gaza Atrocities Recall America's Atrocities in Vietnam

Looming climate catastrophe?: A Rapidly Warming Arctic Could Loose a Methane Climate Bomb Causing Extinction in 9 Years

Supreme Court Junket King Scalia Dies While Vacationing with Wealthy Patrons at Private West Texas Getaway

Something's happening here: Clinton's Crumbling, Bernie's Surging and a 'Political Revolution' May Be in the Offing

The Case for Impeachment of President Barack Obama

Barack Obama: Manchurian Candidate Version 2.0

To View Comments or Join the Conversation:

Tell A Friend