Monday, August 22, 2011

SEC covers up Wall Street Crime

Matt Taibbi appeared on Olbermann’s show  Friday night discussing his new Rolling Stone piece on this travesty of justice. It is incredible that the financial watchdogs who are supposed to police criminal behavior are destroying evidence of investigations into such activity. In one case a manager ordered the destruction of all documents related to it and then shortly thereafter took a lucrative job with the company that was under investigation. In others the SEC authorities in charge of cases used to work for the very same banks under scrutiny and again kill the cases and destroy the evidence with assurances of future, high-paying re-employment. In yet another case the SEC allowed a lawyer, hired by the company under investigation, to determine the validity of the charges, and to no surprise found no evidence. As is Taibbil’s meticulous style, he goes into names and details. And the list is staggering. When inside whistleblowers come forward in such cases they are fired or demoted.

The corruption is so deep and widespread as to make a mockery of any semblance of justice. It is no wonder that the “people” have lost faith in our system. It, like Humpty Dumpty, is broken beyond repair and it seems impossible that it can ever be fixed from the inside by reform. It almost seems that the reform approach is insidiously promoted by those running the system, for they know that it will never amount to a hill of beans. No, a people’s revolution is what is needed here, radical and completely upending the system that will never change on its own. I am not promoting violence here, just noting what may be required. And that we are seeing some peaceful citizen uprisings in this direction, like the recent Wisconsin recall elections, and how OH will be shortly repealing a union-stripping bill. Also see how Iceland citizens recently outlined a new Constitution to be voted on by the people. This is just the spearhead of a people’s movement now on the march with adamantine force.

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